Banks and other lenders are being urged to do more to help consumers in a debt trap thanks to mounting credit card bills. The financial watchdog ASIC says it expects card providers to identify people in difficulty after finding 18.5 per cent of cardholders were behind in repayments, could make only the minimum repayments or…
The BEE partners in a subsidiary of Tubular Technical Construction (TTC) applied for provisional liquidation of the company after it failed to honour an agreement to pay R24 million in outstanding dividends. TTC had paid R11 million out of an agreed R35 million, but had fallen into arrears to the tune of R8.45 million, according to…
Almost one in six people struggle with credit card debt, and balance transfers don’t always help cut the amount of interest consumers pay, the financial regulator says. A review carried out by the Australian Securities and Investments Commission to be released on Wednesday shows 18.5 per cent of consumers are struggling with credit card debt.…
MICHEL EULER/AP In France the workforce is highly unionised and labour laws so robust that it is incredibly hard to dismiss an employee. OPINION: The former chief executive of France Telecom, as well as six other executives, will stand trial for the suicides of about 60 workers. In 2006, France Telecom announced plans to restructure…
On 20 March 2018, the Department for Business, Energy and Industrial Strategy (BEIS) published a consultation document on insolvency and corporate governance, which sought views on proposals to improve the governance of companies when they are in or approaching insolvency. The consultation document went on to explain that the intention is to reduce the risk…
One in five credit card holders are struggling to make repayments, while honeymoon rates to lure customers to new cards can create a “debt trap”, the corporate regulator has warned in a broadside that calls on banks to take steps to ensure customers aren’t lumbered with prolonged, high-interest credit card debt. After the banking royal…
By Ann O’Loughlin A former waste company operator has been told by the President of the High Court he was “not out of the woods” yet over an application to jail him for contempt of court. Mr Justice Peter Kelly told Jim Ferry’s lawyer he seemed to have taken a more realistic approach to proceedings…
Tuesday 03 July 2018 Etihad Airways expects to cut staff under a restructuring plan announced on Tuesday that will see group CEO Tony Douglas take over direct responsibility of the airline business. State-owned Etihad has been overhauling its business since 2016, when it plunged into a loss following a slowdown in airline passenger growth and…
The ex-BDO title holder, 50, is broke after struggling to echo his previous successes in 2000 and 2009. Teds bankruptcy order was made at a London court by HM Revenue and Customs in June, according to reports. GETTY BROKE: Former world darts champ Ted Hankey has been declared bankrupt It comes just…
He said the 36-year-old was involved in organised crime and called himself a “professional gambler” after he developed a gambling addiction in his native Vietnam at age 15. Loading Court documents obtained by Fairfax Media show that Mr Hoang was well known to police, who had compiled eight different reports on him relating to cocaine,…