Right then,

Invensys have just announced that they may be cashless by next June. Can anyone explain what this means exactly (please don't say they don't have any money). Would it mean they go bust? Generally what happens to such companies when things like this happen

this is quite bad, but nothing new so I don't know why the adverse reaction.

ages ago they said they would have to sell businesses to pay off net debt. Once they sold the businesses, they would be left with a smaller company, I can't remember the full details, but I think the turnover would have been 1 billion, so the market value should have been approx 1b. If they don't sell the businesses they've earmarked, they may need to do a rights issue, or renegotiate their current terms. In my opinion, this will recover, but I would not try to play with this one