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Users’ losses on these platforms could create financial stress, with consumers taking on too much debt and defaulting on loans, the bank’s strategists said, according to a Tuesday (Nov. 25) report by Bloomberg.

“Easy access and gamified interfaces encourage frequent and impulsive wagers,” the Bank of America strategists wrote in a note, per the report. “For investors this convergence of entertainment and speculative finance signals heightened behavioral risk that could pressure credit quality, increase delinquencies, and impact earnings for issuers and subprime…

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The intellectual property and brands of the longstanding South Australian condiments brand Spring Gully have been acquired by a Sydney-based group that also owns baby food brand Nourish, snacks label Off Beat and seafood producer Brunswick Foods.

Spring Gully Foods entered voluntary administration one month ago, with the company appointing James McPherson as administrator and making 34 staff members redundant.

At the time, the company said it was forced to make the decision after exhausting survival options as it faced rising costs and lost key contracts.

“We know we’re not alone. It’s a challenging time for many Australian businesses facing rising costs, price pressure from imports, and the changing ways we all buy food as the cost…