Indian conglomerate Adani Enterprises Ltd. needs as much as A$3 billion ($2.3 billion) in debt financing to help start producing Australian coal from one of the worlds largest mines, after major banks from Sydney to New York said they dont want to lend to polluting fossil-fuel projects. The company is seeking A$2 billion to A$3…
Ivanka Trump appeared on Fox News morning show, Fox & Friends, for the second time this week to promote the GOP tax bill. Trump said that she and Sen. Bob Corker, a longtime deficit hawk, believe the tax cuts, combined with deregulation, will ultimately eliminate the countrys $US20.6 trillion debt. That theory flies in the…
WASHINGTON (Reuters) – The U.S. Education Department on Wednesday canceled the student-loan debts of 12,900 people defrauded by defunct Corinthian Colleges, but its announcement that it will give varying amounts of debt relief in the future set off fierce criticism. For-profit higher education provider Corinthian collapsed in 2015 amid government investigations into how many of…
By Lisa Lambert WASHINGTON (Reuters) – The U.S. Education Department on Wednesday canceled the student-loan debts of 12,900 people defrauded by defunct Corinthian Colleges, but its announcement that it will give varying amounts of debt relief in the future set off fierce criticism. For-profit higher education provider Corinthian collapsed in 2015 amid government investigations into…
Australia’s household debt is among the world’s highest, and according to the Australian Securities and Investments Commission (ASIC) we owe more than $30 billion on our credit cards alone. Today, the Australian Bankers Association (ABA) outlined its strengthened code of conduct, and there’s a big focus on credit cards, including proposed changes to unsolicited…
People with outstanding university student debt can expect to pay their loans back sooner, as part of a shake up of the higher education sector that was revealed in todays Mid year Economic and Fiscal Outlook (MYEFO). (MYEFO is basically a mini-budget that outlines the governments spending priorities and gives us a snapshot of where…
Arguments over the income level when repayments start have a while to run yet. The federal government’s 2017 Budget included a proposal to lower the income level at which university students have to start paying off their HELP debt to $42,000. That was a controversial idea, in part because $42,000 is only 20% above the…
Lower debt, smaller deficits and savings to help deliver room for personal income tax cuts are set to be revealed by Scott Morrison in a Budget update today. The Treasurer will show that total debt owed by the Federal Government will be $23 billion lower by 2020-21 on the back of a slightly stronger economy…
Treasurer Scott Morrison is expected to reveal an improved budget bottom line when he hands down his mid-year review today, gaining a revenue windfall from a buoyant jobs market. Economists expect the 2017/18 budget deficit could be about $3 billion smaller at some $26 billion for the 2017/18 financial year compared to the $29.4 billion…