In Japan, pressure builds on COVID-19 loan borrowers as repayments loom
Some borrowers of the government loans, worth up to ¥2 million and given to people who have lost their income or had it reduced due to the pandemic, have declared bankruptcy.
A powerful dynasty bankrupted Sri Lanka in just 30 months
In recent weeks Sri Lanka has run out of cash to pay for essential goods like food and fuel, leading to long petrol lines and daily 13-hour power cuts.
Fewest bankruptcies since 1966 raise fears of Japan 'zombie' firms
Japan has a long history of easy credit that’s been blamed for keeping "zombie” firms alive, which "bring down the potential growth rate and can even sap the impact of monetary easing.”
The company has seen demand for huge cruise ships or luxury mega-yachts dwindle as travel is still severely restricted during the COVID-19 pandemic, particularly in Asia.
Japan's November business failures hit a 56-year low, survey shows
The number of pandemic-related bankruptcies reached 172, however, hitting a record high for the third month in a row.
Kyoto is facing bankruptcy. What happens now?
Massive budget cuts have been proposed to stem the losses now that international tourism to the city has all but dried up.
Japan's pandemic-linked business failures in January to August top 1,000
In August alone, the number of coronavirus-linked business failures totaled 121.
Kyoto's reconstruction plan calls for big spending cuts
Kyoto faces a financial shortfall of nearly ¥280 billion over the next five years, and now day care centers, transport subsidies and the bureaucracy are on the chopping block.
Amid overspending, Kyoto stares down threat of bankruptcy
Some might attribute the city’s financial woes to COVID-19’s impact on tourism, but the mayor puts the lion's share of the blame elsewhere.
Over 700 Japanese dining establishments failed in 2020 amid pandemic
The numbers of failed eateries dropped 36% and 56.3% in January and February respectively, followed by a 2.6% decline in March.
How Masayoshi Son’s ‘money guy’ Lex Greensill went from hero to zero
Greensill Capital was a key part of what Son dubbed his "Cluster of No. 1’s” strategy, taking noncontrolling stakes in the world’s leading tech companies and encouraging them to cooperate.
