Ailing energy companies driving default tally higher: Standard and Poor’s

The number of defaults by global companies tracked by Standard Poor’s reached 133 this week, adding to a count that has already surpassed last year’s total of 113. The ratings agency said the increase is led by the ailing energy and natural resources sector, which has accounted for 71 of the defaults, or 53 per cent of the total. Among those resource sector defaults are six companies in the Canadian oil and gas industry: Pacific Exploration and Production Canada Corp., Trident Resources Corp., Perpetual Energy Inc., RGL Reservoir Management Inc., Tervita Corp. and Lightstream Resources Ltd. Additionally, Korean-owned and Alberta-based Harvest Operations Corp. defaulted due to a “distressed exchange” of its debt, which refers to a transaction where an investor will receive less than what was promised in its…

Money Matters Money...Money...Money. You want it. You need it. And you have it...at least for a little while. When you get a crisp C-note or $100 bill and place the newly minted Benjamin in your wallet, it feels good. Stack a wad of these big bills in your wallet or purse and you feel great. However, as soon as you break it and the leftover change trickles back into your wallet, it's invariably GONE. It won't be long until the entire $100 has disappeared. Poof! Vanished into thin air. It's NOT about how much moneyyou make, but how much you keep Never have we spent so much and saved so little. We spend and borrow too much. We save too little. In the long run...

SC will hear pleas against note ban on Dec 2 The Supreme Court on Friday has fixed December 2 as the date for hearing a batch of petitions challenging the constitutional validity of the decision to demonetise currency notes of Rs 1,000 and Rs 500 and the inconvenience faced by the common man due to it. A bench comprising Chief Justice T S Thakur and Justice D Y Chandrachud said, "We will examine both aspects (inconvenience and constitutional validity) of the matter. Come on Friday at 2 pm". Demonetisation: Take the Pulse of the Nation poll! The bench, meanwhile, asked Attorney General Mukul Rohatgi, appearing for the Centre, to file additional affidavit, if any, explaining the "schemes and steps" taken to ease the situation that has arisen due to demonetisation. Senior advocate Kapil Sibal, appearing for one of the petitioners who ...

Entrepreneurs love disruption. And Donald Trump just gave us a doozy. Entrepreneurs love disruptions. A shake-up in the status quo is when the most inviting opportunities occur. And we can all agree that last week’s election result is shaking up Washington, D.C.Our region’s innovation community has a chance to grow under the new administration — if we know where to look. Very few Americans know exactly what to expect after Inauguration Day, but we can infer from president-elect Donald Trump’s campaign and Republican policy goals expressed in the last Congress some important data points — and use them to capitalize on changes ahead. I’m already on record touting personalized medicine as a specific business opportunity for our region. Now, big changes are promised in the federal government’s role in health care delivery, and the ...

Trump’s win to see rates rise, less trade DONALD Trump’s victory in the US presidential election has raised the threats to the world economy from higher interest rates and less trade, the Bank of England said yesterday. The BOE also pointed to potential dangers from rapid Chinese credit growth or a disorganized British departure from the European Union in a half-yearly assessment of risks to Britain’s financial system. BOE Governor Mark Carney highlighted a big rise in US market interest rates since Trump’s victory, which the BOE said could be a precursor to a destabilizing sharp move higher in global government borrowing costs from previous record lows. Yields on US 10-year government bonds — which influence borrowing costs globally — are on track for their biggest monthly rise since December 2009 following Trump’s unexpected victory ...

There’s good news if you’re looking for work Those looking for work can take comfort in the fact that the ratio of unemployed persons per job opening is 1.4. That’s the level for September, according to the latest data available from the Labor Department. In July 2009, there were roughly 6.6 unemployed persons for every job opening. While the number is no comfort for those still without work, it’s lower than the 1.9 ratio prior to the last recession.

MFI ratings under close watch as microlenders may face pressure on asset quality: ICRA ICRA said following the government’s announcement on demonetisation on November 8, MFIs have observed a considerable decline in collections, with collection rates dropping to 30-60% for most entities. (Source: Reuters) While relaxation in asset classification norms for additional 60 days allowed by the RBI handed some short-term reprieve to the microfinance institutions, rating agency ICRA on Wednesday said MFIs could face pressures on liquidity and asset quality front over the next three to six months, unless currency availability and borrower cashflows improves. And this could translate into pressure on the microlenders’ credit ratings. Releasing a study on the impact of the demonitisation process of high value notes on MFIs, the rating agency said, “The RBI has provided additional time of 60 days to NBFC-MFIs for classifying an account...

Telecom is a dynamic sector says Pradeep Jain, MD Karbon mobiles Pradeep Jain, MD Karbon mobile 1 The job The best part about my job is the openness and energy it brings. Working with young professionals who are infused with fresh ideas drives me. Telecom is a dynamic industry and the challenges of bringing newer technologies to consumers at best prices keeps me driven. However, my hectic work hours take a toll on the personal life. 2 The weekdays My typical workday begins at 8am with checking emails and reading newspapers. Once in office, I meet the team heads of various divisions. The rest of the day is spent in meeting service and business partners. I spend a significant part of the day gathering customer feedback. 3 The weekend Unless I’m travelling, weekends are strictly dedicated to family. I also de...