Pioneering US firm Eastman Kodak, which popularised photography for the average household, filed for bankruptcy on Thursday. Kodak has been struggling in the age of digital cameras and camera phones, laying off 47,000 employees since 2003.
Cross-channel ferry service SeaFrance will be "definitively liquidated" at a cost of 800 jobs and amid accusations that the government was motivated by political expediency and that trade unions had proved inflexible.
Two years after Lehman Brothers filed the largest bankruptcy in US history, the fallen giant will auction off artworks from its European headquarters in a sale expected to raise about 3.1 million dollars that will help pay the bank's creditors.
With the Champions League steaming ahead to the final exciting stages, France 24 takes a seat in the stands to ask if all clubs who aspire to success have to take on a huge debt? Is it a fact of life in soccer’s glittering trophy room? Or is it due to incompetent or short sighted ownership?
Mark Owen discusses it with his guests:
With the Champions League steaming ahead to the final exciting stages, France 24 takes a seat in the stands to ask if all clubs who aspire to success have to take on a huge debt? Is it a fact of life in soccer’s glittering trophy room? Or is it due to incompetent or short sighted ownership?
Mark Owen discusses it with his guests:
Japan Airlines, Asia's biggest carrier, went bankrupt Tuesday with 26 billion dollars of debt in one of the country's biggest ever corporate failures. The airline has plans to cut about 30% of its workforce, amounting to 15,600 jobs.
Concern over Greece's worsening public finances sent shares tumbling after Fitch ratings agency downgraded its outlook for the country's long-term debt and four of its largest banks.
Italian police found Saturday masterpieces worth several million euros in three houses belonging to Calisto Tanzi (pictured), the former boss of Parmalat, the Italian firm that collapsed in 2003. The collection included pieces by Gauguin and Picasso.
The CIT Group, one of the largest small-business lenders in the United States, filed for bankruptcy on Sunday to mark the fifth-largest corporate bankruptcy in the United States and the first firm to do so after receiving government bailout funds.
