Business

Gibson files for bankruptcy, legendary guitar maker to operate while reorganizing

Gibson files for bankruptcy, legendary guitar maker to operate while reorganizing

King, Elvis Presley and Pete Townshend. In conjunction with the restructuring, the company received commitments for $135 million of debtor-in-possession financing from its existing noteholders. However, in addition to the largely negative reaction to the move from Gibson's core customers-actual musicians-the purchases burned through capital and the saw lukewarm consumer response.


North East campaigners urged minimum price for alcohol in England

North East campaigners urged minimum price for alcohol in England

However, pubs, bars, clubs and restaurants are unlikely to be particularly affected, given that the prices they charge are higher than the minimum requirement. Catherine Calderwood, Chief Medical Officer for Scotland, said there are a number of factors behind the high number of alcohol related deaths in the country.


Snap shares sink as Snapchat redesign weighs on results

Snap shares sink as Snapchat redesign weighs on results

GBH Insights called the metric "disappointing" in an investor note, and said it speaks to Snap's user growth problem, which is a "major black cloud" over the company. The plunge comes after similar downturns in recent months as celebrities ranging from Kylie Jenner to Chrissy Teigen have publicly slammed the new app, which Snap execs acknowledged have left some advertisers skittish.


Ball-tampering scandal: CA sets up panel for culture review

Ball-tampering scandal: CA sets up panel for culture review

Cricket Australia CEO James Sutherland has made it clear that the former Australian vice-captain David Warner can make comeback to the national team, even though the latter believes the chances of the same are limited once his 12 month ban is completed.


Morning Spellbinding Stocks: McDonald's Corporation (NYSE:MCD), Under Armour, Inc. (NYSE:UAA)

Morning Spellbinding Stocks: McDonald's Corporation (NYSE:MCD), Under Armour, Inc. (NYSE:UAA)

Under Armour posted a loss for the first three months of the year, but sales beat estimates, climbing 6 percent and driven by strong growth in worldwide and online business. Under Armour had a negative net margin of 0.97% and a positive return on equity of 9.38%. Thomson Reuters has consensus estimates of a net loss of $0.06 per share and $1.12 billion in revenue.