Vietnam’s Trade Surplus With US Jumps as Exports Surge and China Imports Hit Record 
Washington Post Publisher Will Lewis Steps Down After Layoffs 
Oil Prices Slip as U.S.-Iran Talks Ease Middle East Tensions 
OpenAI Expands Enterprise AI Strategy With Major Hiring Push Ahead of New Business Offering 
Bank of Japan Signals Readiness for Near-Term Rate Hike as Inflation Nears Target 
Trump Lifts 25% Tariff on Indian Goods in Strategic U.S.–India Trade and Energy Deal 
Amazon Stock Rebounds After Earnings as $200B Capex Plan Sparks AI Spending Debate 
Russian Stocks End Mixed as MOEX Index Closes Flat Amid Commodity Strength 
SoftBank Shares Slide After Arm Earnings Miss Fuels Tech Stock Sell-Off 
Prudential Financial Reports Higher Q4 Profit on Strong Underwriting and Investment Gains 
South Africa Eyes ECB Repo Lines as Inflation Eases and Rate Cuts Loom 
TrumpRx Website Launches to Offer Discounted Prescription Drugs for Cash-Paying Americans 
U.S. Stock Futures Rise as Markets Brace for Jobs and Inflation Data 
Indian Refiners Scale Back Russian Oil Imports as U.S.-India Trade Deal Advances 
SpaceX Pivots Toward Moon City as Musk Reframes Long-Term Space Vision 
SpaceX Pushes for Early Stock Index Inclusion Ahead of Potential Record-Breaking IPO 
Missouri Judge Dismisses Lawsuit Challenging Starbucks’ Diversity and Inclusion Policies 
Revlon Inc. was approved by the court to proceed with its $1.4 billion loan so it can work on getting itself out of bankruptcy. A U.S. bankruptcy judge announced his decision on Monday, Aug. 1.
As per Reuters, the ruling was a response to the objection by junior creditors who asserted that its heavy terms may obstruct their chance to get back anything from Revlon’s bankruptcy. To resolve this, Judge David Jones also ordered for the loans to be modified to address the concerns of the junior creditors.
Then again, the judge stated that the cosmetic company must also be allowed to borrow the money or funds it needs so it can continue with its operations while in bankruptcy.
It was in June this year when Revlon filed for Chapter 11 and stated that its $3.5 billion debt has left the company very cash-poor to make timely payments to its important vendors in its supply chain.
Thus, to be able to keep up with its supply chain while also funding its bankruptcy court case at the same time, the company sought for additional financing from BrandCo Lenders, which allowed Revlon to borrow $1.88 billion in the years before it filed for Chapter 11
“Today’s filing will allow Revlon to offer our consumers the iconic products we have delivered for decades while providing a clearer path for our future growth,” Revlon’s president and chief executive officer, Debra Perelman, said in a press release after filing for bankruptcy two months ago. “Consumer demand for our products remains strong – people love our brands, and we continue to have a healthy market position.”
She added at that time, “We are committed to ensuring the reorganization is as seamless as possible for our key stakeholders, including our employees, customers and vendors, and we appreciate their support during this process.”
Finally, it was added that the judge allowed the company to borrow $375 million at the beginning of its bankruptcy. And his latest ruling is allowing Revlon to secure new funds worth between $200 million and $1.05 billion. Part of this money will be used to pay the company’s outstanding debts to BrandCo lenders.
