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Distressed debt market likely to dry up with RBI recast plan

Distressed debt market likely to dry up with RBI recast plan

Finance
MUMBAI: The allure of India's $ 260-billion distressed debt market is dimming with the Kamath Committee loan recommendations coming into play, as asset reconstruction companies (ARC) will likely face hurdles in executing transactions. The market for distressed assets may not revive for at least six months as bankers and investors grapple with the fallout of the plan. The distressed asset market, which witnessed deals estimated in the range of Rs 60,000-65,000 crore in FY20, is almost non-existent this year so far, said people involved in distressed asset sale. This fiscal year, there have been negligible sales. “The recent restructuring scheme may lead to assets not becoming NPAs,” said Vishal Kampani – Managing Director, JM Financial Group that also runs an asset reconstruction company. “
Belarus leader Lukashenko disparages protests as US plan

Belarus leader Lukashenko disparages protests as US plan

World
MOSCOW -- Belarus' authoritarian leader on Wednesday sought to disparage protesters demanding his resignation for a sixth straight week following a disputed election by accusing the United States of fomenting the unrest.In a long speech to top officials, Belarusian President Alexander Lukashenko ranted against the alleged U.S.-led plan to destabilize the country and claimed that American allies in Europe have participated in the effort that took years to prepare, part of his attempts to cast the opposition as Western stooges.Lukashenko didn't provide evidence to back his claim that the U.S. had any involvement in the demonstrations.His main challenger in the election, Sviatlana Tsikhanouskaya, dismissed his comments as an attempt to divert public attention from rigging the vote and the vio...

Former UK leaders unite to slam Boris Johnson on Brexit plan

World
The two former British prime ministers who played crucial roles in bringing peace to Northern Ireland have urged lawmakers to reject government plans to override the Brexit deal with the European UnionBy PAN PYLAS Associated PressSeptember 13, 2020, 10:10 AM• 4 min readLONDON -- Two former British prime ministers who played crucial roles in bringing peace to Northern Ireland joined forces Sunday to urge lawmakers to reject government plans to override the Brexit deal with the European Union, arguing that it imperils that peace and damages the U.K.'s reputation.In an article in The Sunday Times, John Major and Tony Blair slammed the current British government for “shaming” the country with legislation that, in places, goes against the very deal it signed to allow for the U.K.'s smoo
Australia leader expects ‘sensible outcome’ to news pay plan

Australia leader expects ‘sensible outcome’ to news pay plan

Technology
Australia’s prime minister says he expects a “sensible outcome” to his government’s plans to make digital platforms pay for journalism after Facebook threatened to block Australian publishers and individuals from sharing news storiesBy ROD McGUIRK Associated PressSeptember 7, 2020, 5:18 AM• 2 min readCANBERRA, Australia -- Australia’s prime minister said Monday that he expected a “sensible outcome” to his government’s plans to make digital platforms pay for journalism after Facebook threatened to block Australian publishers and individuals from sharing news stories.Prime Minister Scott Morrison said he had discussed his proposed laws with “very senior-level executives” including Google's chief executive, Sundar Pichai, last week.Facebook's managing director for Australia and New Zealand, W
No plan for a return to the office for millions of staff

No plan for a return to the office for millions of staff

Business
Media playback is unsupported on your device Fifty of the biggest UK employers questioned by BBC have said they have no plans to return all staff to the office full-time in the near future.Some 24 firms said that they did not have any plans in place to return workers to the office.However, 20 have opened their offices for staff unable to work from home.It comes as many employees return to work from the summer holidays with the reality of a prolonged period of home working becoming increasingly likely. The BBC questioned 50 big employers ranging from banks to retailers to get a sense of when they expected to ask employees to return to the office.One of the main reasons given for the lack of a substantial return was that firms could not see a wa...