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Debt Recovery Tribunal stops DHFL from making payments

Debt Recovery Tribunal stops DHFL from making payments

Finance
MUMBAI: The Pune bench of the Debt Recovery Tribunal (DRT) has stopped DHFL from making any further payments to any of its unsecured creditors, passing an order on an application filed by Catalyst Trustee, the custodian of the indebted home financier’s bond holders. “The defendant …(DHFL) is temporarily… restrained (from) making further payments to any of its unsecured creditors, save and except in cases where the payments are to be made on a pro-rata basis to all secured creditors…,” the DRT said in the order, of which ET has seen a copy. A day earlier, the Bombay High Court allowed DHFL to make payments to banks and NBFCs that have securitisation arrangements with the stressed mortgage financier. “The order passed by the DRT will not have any bearing on the order passed by the Bombay Hig
Stocks making the biggest moves after hours: Pinterest, Beigene, Arista Networks and more

Stocks making the biggest moves after hours: Pinterest, Beigene, Arista Networks and more

Finance
A Pinterest banner hangs on the facade of the New York Stock Exchange (NYSE) in New York City, September 22, 2017Brendan McDermid | ReutersCheck out the companies making headlines after the bell:Shares of Pinterest plummeted 20% after the bell following the company's third-quarter revenue miss. The company pulled in revenue of $ 279.7 million, while analysts had forecast $ 280.6 million. Pinterest posted earnings of 1 cent per share, topping the 4 cent loss per share expected, according to Refinitiv.Pinterest reported 322 million monthly active users, exceeding the 312 million investors projected. Average revenue per user fell just shy of estimates, however, coming in at 90 cents compared to the 91 cents per user expected.Shares of Beigene skyrocketed more than 30% after Amgen announced it...
Five Star: Making Rain or Shine was ‘an ordeal’, says Doris Pearson

Five Star: Making Rain or Shine was ‘an ordeal’, says Doris Pearson

Entertainment
Pop group Five Star unexpectedly returned to the headlines over the last few weeks after a boy who swore at them on children's TV in 1989 apologised for his outburst, only for the apology to be revealed as a hoax.Coincidentally, the story cropped up as the band marked the 35th anniversary of their formation, which happened in a three-bed townhouse in Romford, Essex. It's a story of rags-to-riches-to-rags (depending on how much you trust the tabloids) that ends with the band back on their feet.We spoke to Doris Pearson who, along with her siblings Denise, Lorraine, Delroy and Steadman, sold more than 15 million records in the 1980s.They even became the first black group to win a Brit Award, in recognition of the four-times platinu...
Stocks making the biggest moves after hours: Gap, Salesforce, Intuit

Stocks making the biggest moves after hours: Gap, Salesforce, Intuit

Finance
Kuni Takahashi | Bloomberg | Getty ImagesCheck out the companies making headlines after the bell:Shares of Gap slid as much as 7% before settling around 1% lower in extended trading after the retailer posted second-quarter sales that missed estimates. The company reported adjusted earnings per share of 63 cents on revenue of $ 4.01 billion. Analysts had expected earnings per share of 53 cents on revenue of $ 4.02 billion, according to Refinitiv consensus estimates. CEO Art Peck cited a "challenging environment" in which all of its brands, including Old Navy, experienced a sales decline.Salesforce climbed 7% after the company announced better-than-expected quarterly revenue and raised its annual forecast. The cloud-based software company reported adjusted second-quarter earnings per ...