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Pramod Mittal’s journey from being a billionaire to declaring bankruptcy highlights the unpredictable nature of wealth and fortune.

Pramod Mittal, once counted among the world’s richest individuals, went through a dramatic downfall that led to bankruptcy and legal troubles. Pramod is the younger brother of Lakshmi…

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By Katryna Perera ( March 5, 2025, 9:17 PM EST) — Two entities related to financial services firm StratFS have asked a New York federal judge to reject a bid by the Consumer Financial Protection Bureau to continue appearing in its joint suit with a multistate coalition of attorneys general after the CFPB failed to timely file a post-hearing briefing due to changing leadership at the agency….

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Site Group International Limited (ASX:SIT), an education provider, has entered voluntary administration, appointing Adam Peter Kersey and David Michael Stimpson of SV Partners as joint and several administrators. The decision, effective March 5, 2025, was made by the company’s directors. The administrators are now tasked with evaluating the company’s business operations and financial standing. During this period of voluntary administration, all of Site Group International’s listed securities will remain suspended from trading on the ASX. This action signals significant financial distress within the company, prompting a thorough review of its assets and liabilities. Shareholders are advised to consult ASIC’s information…

Vocational training provider Site Group International (ASX: SIT) has entered voluntary administration after failing to reach a compromise over $https://www.businessnewsaustralia.com/1https://www.businessnewsaustralia.com/1 million in penalties being sought by the consumer watchdog after an adverse finding against the company’s former Captain Cook College subsidiary four years ago.

Site Group had made a $https://www.businessnewsaustralia.com/1.https://www.businessnewsaustralia.com/1 million provision in its books for the penalty, which was imposed after the Federal Court ruled in 202https://www.businessnewsaustralia.com/1 that Captain Cook College had engaged in “a system of unconscionable conduct and made false or misleading…

BBC

Australians are losing more money to gambling each year than the federal government spends on aged care and almost as much as it spends on the national disability insurance scheme, a new report has found.

The report by Equity Economics found that despite the cost-of-living crisis, the amount of money being lost to gambling has significantly increased. Expenditure on gambling has also risen faster than the cost of education, housing and inflation.

“There is a hidden, unspoken black hole in household budgets that government cost-of-living policies has failed to address,” the report said. “This black hole is gambling losses.

“Governments have responded swiftly in recent years to the cost-of-living crisis, but there had been a complete…