While states have cheered the new tax revenue from sports gambling, some new studies have linked the burgeoning industry to lower consumer credit scores, higher credit card debt and less household savings.
With access on their cellphones, gamblers can bet more often and easily than in traditional casinos, heightening concerns about problem gambling and the financial fallout for sports fans. The rate of gambling problems among sports bettors is at least twice as high as it is for other gamblers, according to the National Council on Problem Gambling.
Legal sports gambling is more widespread than ever. Missouri voters in November became the latest to approve it, making it legal in 39 states and the…
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Tax Law
SCOTUSBlog publisher and co-founder Tom Goldstein was indicted on federal tax evasion charges Thursday. (Photo by Alex Brandon/The Associated Press)
Updated: SCOTUSblog publisher and co-founder Tom Goldstein was indicted on federal tax evasion charges Thursday.
Between 2016 and 2022, Goldstein allegedly schemed to “evade the…
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(Reuters) — China Evergrande said on Monday that a court in Hong Kong had ordered one of its key offshore units to be wound up, the latest in a slew of legal victories for the embattled developer’s liquidators.
The liquidators had filed a winding-up petition against company subsidiary CEG Holdings BVI in September, in a bid to recover funds from the debt-laden property company that defaulted in 2021 and triggered China’s real estate market crisis.
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Is Joann Fabric going out of business? Retailer warns of possible liquidation in second Chapter 11 bankruptcy Fast Company
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FSG Nobiskrug in negotiations with potential investors amid insolvency SuperYacht Times
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Mike Johnson hints at linking wildfire aid to debt ceiling talks The Daily Climate
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(Bloomberg) — President Joe Biden is canceling $600 million in student loans, the final round of his administration’s piecemeal debt forgiveness efforts after the Supreme Court blocked a sweeping plan to wipe away borrowers’ balances.
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The Education Department announced the move on Thursday, which will benefit about 4,550 students whose schools closed while they were enrolled and those participating in a federal income-driven repayment program. In total, the agency says it canceled $188.8 billion in loans for more than five million borrowers since Biden took office in a series of separate actions.
The administration has moved to cancel loans through existing federal programs in the aftermath of a 2023…
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It’s been a rough year for the trucking industry following the red-hot market conditions of late 2020 and 2021.
Since the beginning of the year, spot rates have declined by 27.6%, according to the FreightWaves National Truckload Index. On the contract market, which comprises a larger chunk of the trucking industry, the rate to move a truck declined by 6% over the same period.
The cost to run a trucking company, however, has sharply increased despite this slump in rates. The retail cost of diesel has had the most shocking uptick: 36% higher from the beginning of this year.
But compared to the “trucking bloodbath” of 2019, the industry hasn’t seen a wave of large firms declaring bankruptcy. Trucking companies,…
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New filings on The Gazette have confirmed that liquidators were appointed at Ancient House Press Ltd on Tuesday (14 January).
Lee De’ath and Tom Gardiner of Begbies Traynor (Central) in Colchester have been appointed as joint liquidators of the business.
The company’s statement of affairs is currently being processed at Companies House and is expected to be available in the next few days.
A spokesperson for Ancient House Press said: “The directors of Ancient House Press have made the difficult decision to appoint Begbies Traynor as administrators following the steady decline in sales.
“This resulted in the company experiencing significant financial challenges which has placed significant pressure on trading operations, meaning…
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KTM is going through an extremely difficult period. The leading European motorcycle manufacturer has today filed for insolvency at the court of Ried in Upper Austria, initiating a restructuring procedure under judicial supervision. The company failed to pay off its debt 1,8 billion euros towards approximately 2.500 creditors. The total debt of the company and its subsidiaries KTM Components GmbH and KTM F&E GmbH is, however, valued at 2,9 billion euros.
They are 3.623 the directly affected employees, who will no longer receive a salary from KTM, but will instead receive support from the insolvency compensation fund. However, a part of them…
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(PDF) The Role of Insolvency Tests: Implications for Indian Insolvency Law ResearchGate
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