Salvation Army data released during Anti-Poverty Week shows debt is climbing – Great Lakes Advocate

More and more Australians are falling into the vicious cycle of debt according to research released by The Salvation Army. The data shows that those on the brink of financial crisis have accrued $2.55 of debt for every dollar earned. Thats a debt-to-income ratio of 255 per cent. Comparatively, the average Australian household has a debt-to-income ratio…

Maryland AG orders Student Loan Debt Relief Company to cease illegal conduct – ABC2 News

BALTIMORE, Md. – A student loan debt relief company is being told they’re not allowed to do business in Maryland. Maryland Attorney General Brian Frosh announced that the Consumer Protection Division issued a cease and desist order against Student Loan Counsel. The California-based company must cease any unlawful conduct in Maryland, return all money collected from…

NCLT orders liquidation proceedings against Nicco Corp – The Indian Express

By: ENS Economic Bureau | Kolkata | Published:October 18, 2017 2:20 am According to sources, Kunal Banerjee proposed to start liquidation process as the committee rejected resolution plans prepared by the Kolkata-based firm. The Kolkata bench of the National Company Law Tribunal (NCLT) on Tuesday ordered liquidation proceedings against Nicco Corporation after its lenders voted…

Debt-laden care homes giant Four Seasons makes survival appeal as interest deadline looms – Telegraph.co.uk

Profits have reduced to a level where the combination of rent, annual interest payments of around £55m and maintenance bill of £24m are unsustainable when compared to the earnings generated by the business. Terra Firma has written off its entire investment in Four Seasons, although after the proposed restructuring would still own 80pc of the…

Policy on honouring payment commitments need of the hour – Economic Times

By M R Umarji Recently, the Delhi High Court blamed public sector undertakings for resorting to litigation with public money challenging arbitration awards. Such arbitration awards normally relate to assessment of the work completed for which a payment is to be made to the contractor or other enterprises undertaking infrastructure projects or other work. Public…

Wipro net rises 6%; digital lifts BFSI – The Hindu

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MPs slam RBS chief for ‘extraordinary outburst’ against business owners – Board Agenda

Parliamentary banking group heavily criticises RBS chief executive Ross McEwan for what it describes as offensive comments relating to businesses placed in its former restructuring group. Ministers have slammed RBS chief executive Ross McEwan for what they describe as an extraordinary outburst against business owners in light of pressure for details of the banks former…