Investors in the $1.6bn Abraaj Group fund have hired advisory firm Alvarez & Marsal to help recover money owed by the troubled Middle Eastern private equity firm. The New York-based company will represent Abraaj Private Equity Fund IVs backers in talks with liquidators as they seek to recover more than $99 million owed by the…
When you count up how much money you have saved for retirement, do you factor your debt into the calculation? Coming to terms with debt has become a major part of retirement planning. A study released earlier this year by the Employee Benefit Research Institute (EBRI) found that debt levels among older Americans have grown…
Investors in a $1.6 billion-Abraaj Group fund have hired advisory firm Alvarez & Marsal Holdings to help recover money owed by the floundering Middle Eastern private equity firm, people with knowledge of the matter said. The New York-based company will represent Abraaj Private Equity Fund IVs backers in talks with liquidators as they seek to…
Debt-free is the new American dream (Source: Shutterstock) According to the latest data from the NY Fed, total consumer debt is now at an all time high of $13.2 trillion. That equates to an average of over $40,000 owed by every single American across mortgages, student loans, auto loans, and credit cards. So much debt…
Student debt is a $1.48 trillion burden that financially hobbles millions of Americans, especially young ones, as they try to save for retirement and make major purchases likes homes or cars. But a nascent movement is underway in some corners of Corporate America to help workers carrying that burden. For instance, Abbott Laboratories plans next month…
The bill aims to help over-indebted poor people who dont have the same options as wealthier debtors in distress. CAPE TOWN – Parliaments Trade and Industry Committee has removed a controversial clause from the National Credit Amendment Bill it is working on, that would have given the minister, Rob Davies, broad powers to…
The Clean Energy Finance Corporation could weigh in with debt funding to help support the Snowy 2.0 pumped hydro mega-project as well as the investment required in transmission to help get the power to consumers, chairman Steven Skala has revealed. Mr Skala said that while wind and solar power were rapidly becoming fully cost competitive,…
Responsible lending, stricter credit assessments and easier card cancellations. The banking code of practice has unveiled its facelift today. The code was revised during 2016-17 and will apply from 1 July 2019. The code of practice includes measures to protect small businesses and consumers and covers everything from credit products to customer complaints. For credit…
By Stephen Jewkes MILAN (Reuters) – Italian utility Enel <ENEI.MI> expects to raise up to 1.5 billion euros (1.34 billion pounds)from asset sales in the second half of the year to help cut debt after a series of acquisitions. Speaking to analysts on first half results, Enel CFO Alberto De Paoli said disposals would include…
Australian shares are poised to lift at the open, bolstered by hopes a trade truce between the US and China. ASX futures were up 18 points ahead of 5am AEST. The Australian dollar move towards US74.5¢. Positive sentiment returned after Bloomberg reported US and Chinese officials were looking at ways to restart talks to resolve…