India's government has asked state-run banks to rescue privately held Jet Airways without pushing it into bankruptcy, as Prime Minister Narendra Modi seeks to avert thousands of job losses ...

German holiday airline Germania collapsed on Tuesday after it failed to secure financing to meet a short-term cash squeeze and said it would cancel all flights immediately.

Sears, the venerable chain that once dominated the American retail sector but had been in decline since the advent of the Amazon era, filed for bankruptcy Monday and announced it was closing almost 150 stores.

HE Dr al-Nuaimi explained that the fund is complementary to the bundle of legislations issued by Qatar to protect the rights of workers.

The company claimed its business had been ruined by "numerous unfounded accusations" which rendered operating the business "no longer viable."

"This is a profoundly sad day for us as well as the millions of kids and families who we have served for the past 70 years," CEO Dave Brandon said in a statement.

French forestry and wood products group Rougier filed for bankruptcy on Tuesday, causing uncertainty for its nearly 3,000 employees in central Africa, a court source told AFP.

British Airways owner IAG has emerged as the preferred bidder to take over bankrupt Austrian airline Niki, German news agency DPA reported Thursday.

Bankrupt German airline Air Berlin must ground all flights by the end of October, the firm said on Monday, as talks continue with prospective buyers Lufthansa and Easyjet.

Monarch declared bankruptcy on Monday morning after struggling to recover from the effects of terrorism and a weak pound.

India's United Breweries has fired indebted beer baron Vijay Mallya from his non-executive chairman role following an order from the country's market regulator, it said in a stock exchange filing late Wednesday.

An Indian court ordered a consortium of banks Thursday to start the process of recovering loans from the tycoon Vijay Mallya who has refused demands to return home from exile in Britain.