Since the top 10% takes home 50% of all household income, it follows that this top slice has most of the discretionary cash, i.e. net income left after taxes, servicing debt and paying for essentials such as food, utilities and housing. It also follows that the discretionary spending of the top 10% is supporting much…
Nathan Tinklers company Australian Pacific Coal has taken a crucial blow, with Tinkler stepping down from the board over a new bankruptcy ruling. Newcastle Herald reported that a Federal Court judgement found Tinkler bankrupt over the sale of a luxury jet. Trading in Australian Pacific Coal shares was suspended on Tuesday following the ruling.…
Feb 10 Former Australian coal baron Nathan Tinkler on Wednesday resigned as chief executive of Anglo Pacific Coal Ltd after losing a legal battle over money he owed from the sale of a luxury jet and being declared bankrupt. Tinkler – who rode the mining boom to become Australia’s youngest billionaire before losing it all…
Businessman Nathan Tinkler, once the nation’s youngest billionaire, is expected to appeal a Federal Court judge order that he be declared bankrupt. Picture: AAP Controversial junior coal magnate Nathan Tinkler is expected to launch a court appeal to stave off bankruptcy. The former billionaire, whose debt-fuelled mining empire collapsed in 2012 following the slide in…
February 09, 2016 Share this article: A Russian-language banking Trojan has been found manipulating the ruble-dollar exchange rate Corcow deflated the ruble by 15 percent in a short space of time A Trojan has been found manipulating the ruble-dollar exchange rate. Hackers apparently used malware on Russian bank, Energobank, in 2015 to to…
Julie Ann Cairns went to the brink of bankruptcy. Photo: Supplied Brisbane woman Julie Rainbow is one of the thousands of Australians who go bankrupt every year. More than a decade ago she and her then husband and their two children had what she describes as a “comfortable” financial situation. “We had a really nice, lovely,…
February 09, 2016 Share this article: A Russian-language banking Trojan has been found manipulating the ruble-dollar exchange rate Corcow deflated the ruble by 15 percent in a short space of time A Trojan has been found manipulating the ruble-dollar exchange rate. Hackers apparently used malware on Russian bank, Energobank, in 2015 to to…
Share this: Bulgarias prosecutors office said on February 9 that it was seeking a hearing in the European Committee on Crime Problems (CDPC) concerning the difficulties in securing the extradition of Tsvetan Vassilev, former majority shareholder in the insolvent Corporate Commercial Bank (CCB), from Serbia. CDPC is the Council of Europe office tasked with coordinating…
QUESTION: Help! Debt collectors have been calling me incessantly demanding payment of my outstanding debts, which have grown to a surprising high level because of interest and penalties. The sad part is that while I do want to settle my debts and get rid of these pesky collectors who threaten me with law suits, I…
After posting N267bn loss in 2015 from marketing crude and refined petroleum products and accumulating cash call debts of over $6bn to joint venture partners as well as cash constraints to fund key operations, some analysts conclude that NNPCs underlying problem is that it is insolvent. Several independent and government-commissioned audits have also given credence…