A report issued by the Pew Charitable Trusts in July 2015, stated that 80 percent of consumers in the U.S. have some type of debt. With auto loans and student loans both topping $1 trillion and credit card holders dealing with an average of more than $7,500 in debt, many are looking for ways to relieve some financial stress. There are…
Following months of internal wrangling, the U.S. House of Representatives, on Thursday passed legislation creating a federal control board to help Puerto Rico cope with crippling debt that is wreaking havoc throughout the islands economy. By a vote of 297-127, the House approved the bill, sending it to the Senate for consideration. Some leading Democratic…
When a hole in the roof turns into a disaster. Photo: Graham Tidy Picture a scenario whereby you arrive home one rainy day to discover a leak in your roof has left a small pool of water in your hallway. Thankfully it’s only a small leak, so there’s not too much damage to your ceiling…
McGlinchey Stafford PLLC announced the addition of accomplished attorney Deborah A. Reperowitz as a member in the firm’s Commercial Litigation practice group and New York City office. Reperowitz is a nationally known attorney, representing clients in all aspects of commercial litigation, business restructuring, and bankruptcy matters. She is listed on the register of mediators maintained…
Boston Scientific Corp. is cutting costs after several years of disappointing financials. The Marlborough, Mass.-based medical-device maker has announced a global restructuring program that is expected to reduce annual pre-tax operating costs by $115 million to $150 million. Boston Scientific did not disclose how exactly it would cut costs or how many workers could be…
(Recasts with details of House passage, White House statement) By Richard Cowan Following months of internal wrangling, the U.S. House of Representatives, on Thursday passed legislation creating a federal control board to help Puerto Rico cope with crippling debt that is wreaking havoc throughout the island’s economy. By a vote of 297-127, the House approved…
The Latvian state-owned power utility Latvenergo is not going to file for insolvency of financially troubled KVV Liepajas Metalurgs steel maker, Latvian Economics Minister Arvils Aseradens said, answering questions from lawmakers about the situation with KVV Liepajas Metalurgs. Although the government representatives said earlier that they hoped one of the unsecured creditors would file an insolvency claim…
The logo of Swiss bank UBS is seen at the company’s headquarters in Zurich, Switzerland February 10, 2015. Reuters/Arnd Wiegmann UBS’s (UBSG.S) wealth management business in the Americas will cut back recruitment of financial advisers by 40 percent as part of a broader restructuring by Tom…
WASHINGTON (AP) The House is slated to vote Thursday on legislation that would help rescue Puerto Rico from its $70 billion debt. Some of the provisions in the bill: __ CONTROL BOARD: A seven-member board appointed by Congress and the president would help Puerto Rico get its finances in order, similar to a board that…
Following months of internal wrangling, the U.S. House of Representatives, on Thursday passed legislation creating a federal control board to help Puerto Rico cope with crippling debt that is wreaking havoc throughout the island’s economy. By a vote of 297-127, the House approved the bill, sending it to the Senate for consideration. Some leading Democratic…