The Biden administration is reviewing whether it can take steps to provide student debt relief through executive action, even as it continues to call on Congress to pass legislation to help borrowers and their families. A tweet by White House press secretary Jen Psaki appeared to go further than her comments at a briefing earlier…
People who bet even relatively small sums are more likely to suffer financial hardship and unemployment, while heavier gamblers die earlier, according to a landmark study analysing data from millions of bank customers. In a report thought to be the largest of its kind carried out in the UK, academics tracked the links between gambling…
Jim Farley, Ford CEO Ford DETROIT Ford Motor CEO Jim Farley is promising something Wall Street has been asking from the storied American car manufacturer for years: A clear and decisive plan as the auto industry transitions to electric vehicles. In the coming months, Farley said he “will lay out the entire picture” for Ford.…
Like many other debt relief companies, New Era Debt Solutions aims to help consumers out of debt using a strategy known as debt settlement. With debt settlement, consumers stop making payments on their unsecured debts and instead begin saving a fixed amount of money in a separate account. After some time passes, the debt settlement…
Member Article A sting in the tail of the official annual corporate insolvency figures for 2020 could indicate that North East businesses can expect to face challenges in the year to come. Thats the view of Alexandra Withers, North East chair of insolvency and restructuring trade body R3, after the Insolvency Services official figures for…
The Simplified Insolvency Programme (SIP) has been instituted to facilitate the restructuring or liquidation of micro and small companies (MSCs). The SIP was ushered in by the Insolvency, Restructuring and Dissolution (Amendment) Act 2020 (IRDA Amendment Act), with the relevant provisions recently commencing on 29 January 2021. It modifies the Insolvency, Restructuring and Dissolution Act…
With the Covid-19 pandemic driving up government debt across many nations, there are growing calls for debt swaps to be used to help developing nations achieve a green recovery. This week, two separate research teams from the US and China have called for China in particular to implement such debt swaps in exchange for efforts…
British and Australian-owned tour operator Tucan Travel has become the latest industry player to succumb to the impact of COVID-19, ceasing to trade with immediate effect. No further bookings are being taken by the company, and customers with existing bookings will not be able to travel as planned, according to a statement on its website.…
The agreement will make Jack Mas fintech giant subject to capital benchmarks similar to those for banks. Ant Group Co. and Chinese regulators have agreed on a restructuring plan that will turn Jack Mas fintech giant into a financial holding company, making it subject to capital requirements similar to those for banks. The plan calls…
Date: 04.02.2021 Vehicle logistics service feels pinch from car market downturn The company says Covid-19 has also contributed to market volatility Intermodal operator Linx Cargo Care Groups (LCCGs) car-carrying arm, Autocare Services, is placed into voluntary administration. In a statement, LCCG notes the decision to place Autocare Services into voluntary administration was necessary due to…