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Banks To Take Control Of Cash Flow Of Kingfisher Airlines

According to another bank official, the lenders have decided to form a core group of five banks that will focus on the company's finances. The group includes State Bank of India , Bank of India, Bank of Baroda , Punjab National Bank and ICICI Bank. "There are 13 lenders and it's not feasible to bring them all together. Therefore, a core group of lenders is being formed," said the banker. SBI, the lead lender, has asked the airline to bring in Rs 400 crore in fresh equity before any loan restructuring can be initiated. Less than a year ago, banks restructured close to Rs 7,000 crore of loans to Kingfisher.

Corporate cash may not all flow back with recovery

We are still a long way from a strong socio-political consensus that might see animal spirits driving a world-wide investment boom. Political reforms can take on many shapes and sizes, of course those affecting systemic stability or short-term taxation. But changes to companies long-term financial exposure to the claims of their own employees are pretty fundamental. The annual Global Risks 2014 report prepared for the World Economic Forum by consultant Oliver Wyman a report based on 700 industry leaders cited corporate exposure to skyrocketing healthcare costs and buckling domestic healthcare systems as a key threat over the years ahead. And the theme of corporate uncertainty about future liabilities and growing insensitivity to the economic cycle is spotlighted in a recent U.S. Federal Reserve Board working paper by staff economists Steve Sharpe and Gustavo Suarez.

Cash flows in for flood-stricken Second Harvest Food Bank

Streno said a donation of supplies from Sam's, made before Monday's storm, was transported to the agency's newly purchased 76,000-square-foot warehouse in Alcoa. Those supplies will feed the children. Meanwhile, city and county officials said Wednesday that conditions since the flash floods have improved and most affected roads have reopened. Cedar Lane near the intersection of Parkway Drive is to remain closed through the end of the week, said Randy Kenner, Knoxville city spokesman. In Knox County, all roads remain open except Darby Road, said Jim Snowden, the county's assistant director of engineering and public works. Snowden said now that the water has receded, the department is checking the road's integrity and completing cosmetic work.

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