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Public transport of Voronezh threatened by leasing collapse

A large Russian city is at risk of extreme shortage of buses and fixed-route taxis for passengers’ transportation. Experts cite leasing contracts, according to which about 50% of vehicles in the capital of the Chernozem region were purchased, as the reason for this. Leasing companies have increased rates on existing agreements up to 30%, and new contracts are proposed to be concluded at a double rate. Carriers may face bankruptcy in such a situation, while partners explain their financial policy...

FINANCIAL RESTRICTIONS BRING SAUDI PRINCES TO POVERTY

The royal family in Saudi Arabia has come under economic pressure from the state. The country's authorities continue to introduce more and more restrictions for non-working princes, who got used to living large. They have to sell yachts and real estate to cover their maintenance costs and not attract increased attention from the crown prince. According to the foreign media, the crown prince cut off many ways to enrich his family members in the course of political struggle. However, it has not...

Prime Minister of Lebanon: "The state has gone bankrupt…What a pity."

... strive to minimize the losses that ordinary citizens will inevitably suffer due to bankruptcy. Losses are planned to be distributed among the state, the Central Bank, credit institutions of the country and depositors. Lebanon has been in an economic crisis since late 2019. The country experienced a massive depreciation of the currency, people do not have enough fuel and medicines. Massive power outages often occur. The ability to withdraw cash in dollars or euros in Lebanon has also been limited ...

Spring in Russia began with ‘raining sanctions’

March 1 was marked by the emergence of information about new sanctions against the Russian economy and individuals from all around the world. Japan, Turkey, Canada, South Korea, Singapore and Australia have joined the US, UK and EU sanctions. Six persons of the Russian state fell under Japanese sanctions, including Vladimir Putin, Dmitry Medvedev and Sergey Lavrov. Together with them, Valery Gerasimov, Sergei Shoigu and Nikolai Patrushev fell under personal sanctions. This means that if any property...

Mistake of Naftogaz can lead to bankruptcy of company

Ukraine's gas supply worries not only to the current leaders of the Naftogaz company. An expert assessment of the state of affairs in the industry was given by the ex-head of the organization Andrey Kobolev. In his opinion, the new management of the company turned out to be incompetent, which forced him to systematically solicit funds for the purchase of fuel from the state budget. In an interview with Forbes, the former head of Naftogaz called the actions of the new leadership a ‘catastrophic...

Major supplier of electricity collapsed in the UK

The British firm Bulb, one of the seven largest energy companies in the United Kingdom, has gone bankrupt and got under external control. The financial collapse was caused by gas prices, which were established in the fall of 2021. The company's share of electricity suppliers in the UK was about 6%. Experts note that over the past three months, 25 electricity suppliers in the country have already filed for bankruptcy. Several million citizens were their clients. At the same time, the country's authorities...

SEVERAL ENERGY FIRMS HAVE GONE BURST IN THE UK AT ONCE

... an increase in inflation and a slowdown in economic recovery of the region. In addition, at the beginning of autumn, one of the largest fertilizer producers from the United States left the British market. This happened precisely because of the energy crisis that had ‘covered’ Europe. Now a situation of food inflation may arise, as the farmers' costs are rising.

Fuel retailing in Russia has lost its profitability

... development of the Shell's gasoline stations chain, this year, each liter of retail gasoline brings in 1.5 rubles of loss. Vertically integrated firms, which have the opportunity to sell fuel in bulk and export it abroad, will be able to survive the crisis. Their integrated margin easily covers the retail losses. However, there are less than a third of such filling stations in the Russian market. The majority of operators will face bankruptcy. According to experts, the current damper mechanism used ...

COLLAPSED DUE TO NEW RESTRICTIONS: OVER 170 RESTAURANTS OF MOSCOW WENT BANKRUPT IN THREE WEEKS

This shocking figure is almost equal to the results of the entire last year. Then 208 public catering enterprises turned out to be insolvent. As the ombudsman for the protection of the capital's entrepreneurs and concurrently restaurateur Anastasia Tatulova said in an interview with the host of Moscow Speaks, the cafes will not survive the new lockdown. At the moment, catering establishments are in the brink of bankruptcy. One establishment is closed almost every day. She noted that she did not...

1.4 MILLION ITALIANS MAY GO BANKRUPT BY JULY 2021

The Independent Federation of Italian bankers has released information about what threatens millions of Italian citizens and businesses by mid-summer. According to the experts' forecast, 1.4 million Italians and almost 1.3 million legal entities may be overboard. The reason for this will be the expiration of the governmental decrees that provided residents of Italy with a deferral to pay off debts to the country's credit institutions. We are talking about debts of the total amount of almost € 300...

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