Published 04/02/2016 | 02:30 (Stock image) International ratings agency Moody’s has controversially suggested large numbers of mortgage holders have stopped making repayments in a bid to get debts written off. Share Go To Banks have in the past suggested that a large number of those in arrears are so-called strategic defaulters – those who make…
National Greyhound Form PTY LTD has been placed into administration with many people in the industry left out of pocket after the abrupt disappearance of Hotdogs.com.au and print publication National Greyhound Form. Paid-up subscribers have flooded social media sites and greyhound forums with complaints after the popular website was taken offline at the end of…
Matt Barrie, CEO of Freelancer.com, has taken a massive swing at the New South Wales government and Sydneys lockout laws, arguing they have destroyed the soul of the nations biggest city. In a colossal 8,400 word post on LinkedIn which is now going viral Barrie slams the government for its Orwellian nomenclature which replaced a…
A Donegal county councillor has told a court he is facing bankruptcy as a result of failed business dealings and does not have money to pay compensation to a woman he drove over 16 years ago. Independent Cllr John ODonnell was at the centre of controversy last December when he featured on an RTÉ Investigates…
Dairy producer Aynes Gida Sanayi sought to postpone bankruptcy and failed to make a payment on a bond, as Russian President Vladimir Putins economic sanctions on Turkey claimed their first high-profile corporate victim. Ayness application to delay insolvency is part of its plan to suspend repayment of bank debt, according to Eren Yazicioglu, the Denizli-based…
SAN RAFAEL, Calif.–(BUSINESS WIRE)–Autodesk, Inc. (Nasdaq: ADSK) today announced a restructuring plan that will accelerate the move to the cloud and its transition to a subscription-based business model. Through the restructuring, Autodesk seeks to reduce expenses, streamline the organization, and reallocate resources to align more closely with the companys needs going forward. As we progress…
With more than half of American consumers classified as having subprime credit scores,1 it is no surprise that subprime lending is once again on the rise. Making expensive loans to the underemployed and overextended may help fuel economic growth2; however, it is neither just nor sustainable. Dependence on higher-risk subprime loans to boost spending seems…
In Better Bankers, Better Banks: Promoting Good Business through Contractual Commitment, Claire A. Hill and Richard W. Painter provide an account of the changes to banking that encouraged the risk-taking that became a factor in the global financial crisis, and propose a solution: covenant banking. The authors suggestion of binding bankers to contracts that encourage accountability…
The troubled software firm Bright Future has gone into liquidation leaving hundreds of employees out of a job. Eudie Thompson, chief executive, confirmed her company was no more after laying off 300 workers – including 180 apprentices – last week. Ms Thompson blamed the loss of a large contract and the withdrawal of a major…
Barclays Plc will dismiss about 150 staff in Dubai as it restructures its Middle East corporate banking business, a person with knowledge of the matter said. The bank will close its offices at Emaar Square and relocate bankers and support staff to its office at Dubai International Financial Centre, said the person, asking not to…