Opposition councillors have warned that the ruling Conservatives at County Hall have risked the financial future of the authority in their determination to get the proposed 3.9-mile road built, the Eastern Daily Press reported. They say that Norfolk County Council has now committed so much cash to the project that if it does not now go ahead, the authority would not be able to balance the books. It comes at a time when a number of English councils have been forced to effectively declare themselves bankrupt because of their financial dire straits.
Resources Per Country
- Albania
- Austria
- Belarus
- Belgium
- Bosnia and Herzegovina
- Bulgaria
- Croatia
- Czech Republic
- Denmark
- Estonia
- Finland
- France
- Germany
- Gibraltar
- Greece
- Guernsey
- Hungary
- Iceland
- Ireland
- Isle of Man
- Italy
- Jersey
- Kosovo
- Latvia
- Liechtenstein
- Lithuania
- Luxembourg
- Macedonia
- Malta
- Moldova
- Monaco
- Montenegro
- Netherlands
- Norway
- Poland
- Portugal
- Romania
- Russia
- San Marino
- Serbia
- Slovakia
- Slovenia
- Spain
- Sweden
- Switzerland
- Ukraine
- United Kingdom
- Vatican City
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European property company Signa on Thursday said that two key divisions are filing for insolvency, a significant development in the unraveling of founder Rene Benko's real estate empire, Reuters reported. Signa Prime Selection filed for self-administrated restructuring in a Vienna court on Thursday, and Signa Development Selection will file on Friday, Signa said. The announcements are the latest twist in the saga for Signa, the biggest casualty so far in Europe's real estate crisis.
Poland's culture minister has decided to put its state television, radio and news agency into liquidation, he said on Wednesday, deepening a dispute over the future of publicly owned media after a momentous change in government, Reuters reported. A pro-European Union coalition headed by Donald Tusk took power in Poland this month and started an overhaul of state media institutions which critics say had become propaganda outlets during the nationalist Law and Justice (PiS) party's eight years in power.
The Serie A leaders are currently leading their domestic league and they have also qualified for the knockout stage of the Champions League, CaughtOffSide reported. The news of their bankruptcy started surfacing in the media after they paid their 10 board members their annual compensation. Their corporate CEO, Alessandro Antonello, and the CEO of the sports area, Giuseppe Marotta, received less compensation compared to the previous financial year.
British shopper numbers at stores on Boxing Day rose from a year earlier, especially in London, research data showed on Wednesday, marking a strong start to the post-Christmas bargain-hunting spree, Reuters reported. Research group MRI Software said footfall rose 4% across all UK retail destinations on Dec. 26. Known in Britain as Boxing Day, the date that traditionally launches high-street sales was in the Victorian era the time when the rich would donate leftover food and goods from Christmas Day festivities to the poor.
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The Belgian National Bank chief’s term has yet to be renewed, potentially leaving the central bank without a leader early next year, Bloomberg News reported. Governor Pierre Wunsch’s mandate comes to an end Jan. 1 and “so far, the government has not announced a decision related to this mandate,” the institution’s spokesman said by e-mail on Wednesday. Wunsch, 56, has been at the central bank since 2011 and took the top job in 2019 when he was appointed for a five-year term.
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A serviced-office provider with a slew of sites in London’s financial district has collapsed into administration, the latest flexible workspace business to fold in the aftermath of the coronavirus pandemic, Bloomberg News reported. BE Offices Ltd. and almost a dozen subsidiaries entered an administration application at London’s High Court, according to a filing. This included units responsible for workspaces in the city’s Cheapside, Threadneedle Street and in Paddington, the filings show.
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Most Londoners are hunkering down, hoping to weather Britain’s housing storm rather than look for more affordable homes outside the capital, Bloomberg News reported. Londoners spent roughly £29 billion ($37 billion) on homes outside the capital this year, almost a third less than in 2022, according to a report from broker Hamptons International. While affordability pressures caused the rate of London outmigration to rise over the past 12 months, the number of homes bought outside the capital dropped to just over 69,000 — the lowest in nine years.
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Russian President Vladimir Putin on Sunday signed a decree clearing the way for Rosbank to purchase stakes in leading Russian companies owned by Societe Generale, Reuters reported. The decree said that Rosbank will be able to buy SocGen's stakes in energy producers such as Rosneft and Gazprom, metals companies including Norilsk Nickel and Severstal, and other leading Russian blue chip firms. Societe Generale declined to comment. The bank had an exposure of 22.4 billion euros to Russia as of end-June 2021, according to the European Banking Authority's (EBA) data.
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Hovding AB, a Swedish company that has made headlines for the first mass-market bicycle airbag helmet, filed for bankruptcy on Thursday after regulators stopped the sales of its main product, Bloomberg News reported. The decision comes after the Swedish Consumer Agency forced a complete halt of all sales of the Hovding 3 helmet on Dec. 15, due to concerns that it wouldn’t inflate properly on impact.
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