America’s Fiscal Future | U.S. GAO

The Nation’s Unsustainable Fiscal Path The federal government faces an unsustainable fiscal future. In February 2025, we released our annual report on the nation’s fiscal health, highlighting both short-term and long-term risks.  Federal debt held by the public (that is, the total amount of money that the federal government owes to its investors) will continue to…

Melbourne firm UGC enters liquidation

The Australian Securities and Investments Commission (ASIC) said creditors have resolved to wind-up UGC and David Stimpson of SV Partners has been appointed as a liquidator. UGC withdrew its application regarding the cancellation of its Australian financial services licence, which was cancelled on 31 July, and the Administrative Appeals Tribunal (AAT) dismissed that application. An…

Croydon Council asks for £136m government bailout

A south London council is seeking a £136m bailout from the government after revealing a £35m overspend this year. Croydon Council faces a projected £98m shortfall in its budget for the upcoming financial year and is struggling to balance its finances despite a year of public service cuts and council tax increases. The Conservative-led council…