We live in a world where fintech apps have made stock trading ever easier, cheaper and more accessible. Take Robinhood, a mobile brokerage worth $8.43 billion, that has amassed over 13 million users since its inception in 2013. Beyond making it simple to sign up and zero stock trading commissions, Robinhoods success comes from gamifying…
A CONSTRUCTION company that billed itself as Brisbane’s premier home extension and renovation business is being wound up after going into liquidation owing more than $1 million. Total Lifestyle Builders Pty Ltd is insolvent and appointed Jarvis Archer from Revive Financial as liquidator on June 18 to wind up its affairs. Mr Archer said according…
Podcast: Two Cents’ Worth When Christchurch bookkeeper and business owner Lisa Cowe was declared bankrupt in 2017, it was over a $6,200 credit card debt owed to the BNZ. Cowe joined 1862 others in bankruptcy that year, many of them voluntarily making the move to clear their debts and attempt to start anew, free of…
McLaren is facing insolvency McLaren is set to go to court as part of its attempts to raise additional capital to stave off the prospect of going insolvent. The English marque has been hit hard by the COVID-19 pandemic, announcing it was shedding a quarter of its workforce in May. It is now looking to…
NORTHERN EXPOSURE NORTH Lakes, north of Brisbane, has emerged as one of Australia’s worst bankruptcy hot spots. According to figures from the Australian Financial Security Authority, the suburb in the heart of Brisbane’s mortgage belt had the highest per capita number of personal insolvencies at the end of March. The percentage was 0.096 per cent,…
A former retail worker who tried and failed to blackmail the Romeo family has been forced into bankruptcy by the man he roped in to the scheme with promises of repaying a $320,000 debt. Christopher Garuccio was sentenced to two and a half years in prison for attempting to scam more than a million dollars…
Morgan Stanley on Monday lowered its base case for Hertz to $US0 from $US2, citing risks of de-listing or a potential liquidity shortfall. The firms base case is now equal to its bear case. Morgan Stanley also lowered its bull case for Hertz to $US3 from $US8. The updated price target reflects the banks view…
According to Bank of Korea’s figures for 2019, South Korea’s household debt is rising by an estimated US$100,000 (3.1 million baht) every minute, amounting to a whopping US$1.7 trillion today. Every day, more than 100 South Koreans are declared bankrupt. Meanwhile, the government’s debt has skyrocketed to a total of US$693 billion, increasing by 111…
US shale companies could be forced to write down $300bn of their assets this year, starting in the second quarter, as operators begin to account for the oil-price collapse on their balance sheets, according to a new study. The huge impairments about half the net value of the companies property, plant and equipment would increase…
When I was growing up, my dad and uncle would often joke about having to declare bankruptcy and putting their children up for sale as child servants to some mean, wealthy stranger. The only life lesson (if you could call it that) for me? An irrational fear of the B-word bankruptcy. But as I found…