With total outstanding consumer debt at $3.34 trillion, excluding mortgages, according to the Federal Reserve, it’s clear borrowers aren’t taking debt seriously enough. My method for upping the urgency: treat debt the same way you would if your house was on fire extinguish it as soon as possible. Debt costs you money every day. Interest…
Written by Rajeev Chandrasekhar | Published:January 15, 2016 7:59 am Lets face it, Indias economic and reform performance in 2015 has disappointed many. Despite outperforming its BRICS compatriots by being the fastest growing economy in 2015 at 7.5 per cent, its bright spot status does not leave room for complacence in 2016. Domestic private investment…
What effect does a licensor filing for insolvency have on a licence? The answer depends not only on the terms of the licence agreement and the law that governs that agreement, but also on the laws of the place where the insolvent party is located. Under Swiss law, a contract will not automatically be terminated…
Market watch top headlines Australian reports World reports AAP 2016-01-12 Significantly more businesses went under last year compared to 2014, led by a rise in company failures from NSW. With 9,573 businesses having gone into administration up to November last year, the numbers for 2015 have already eclipsed 2014’s total of 8,794 companies slipping under,…
ROBERT KITCHIN/FAIRFAX NZ Dick Smith stores have remained open while receivers and administrators try to get the business sorted for sale. Dick Smith’s administrators have successfully defended an attempt to replace them, after lifting the lid on the debts of the retailer’s New Zealand business. At a meeting in Auckland on Friday, creditors voted on…
A shopper pushes a cart in front of a Wal-Mart store in Mexico City March 24, 2015. Reuters/Edgard Garrido Wal-Mart Stores Inc (WMT.N) has closed about 60 stores in Brazil, or more than 10 percent of its locations in the country, as part of a restructuring of one of the retailing giant’s most important overseas…
Not so long ago, Chinas politics appeared an economic virtue, including for many in the Australian business community. There were even strong hints of China-envy in the air, the idea that authoritarian leaders could simply identify problems and fix them. No need to deal with interest groups, sceptical media, economically illiterate population or an obstructionist…
ROBERT KITCHIN/FAIRFAX NZ Dick Smith stores have remained open while receivers and administrators try to get the business sorted for sale. Dick Smith’s administrators have successfully defended an attempt to replace them, after lifting the lid on the debts of the retailer’s New Zealand business. At a meeting in Auckland on Friday, creditors voted on…
The Powerball lottery may be hard to win, but its impossible to ignore $1.5 billion will do that. Big jackpots drive ticket sales thats why last year, lottery officials made the already astronomical odds even longer, from 1 in 175 million to 1 in 292 million. Worse odds mean fewer winners, which means the jackpots…
The ultimate fate of Dick Smith may not be known for six months. DICK Smith stores were selling customers soon-to-be worthless gift cards in the days before Christmas at the same time it was calling in the administrators. McGrathNicol was brought in to advise the ailing company on December 23. The firm was officially appointed…