According to data from MarketWatch, the UK 30-Year gilt – an indicator for long-term borrowing costs – is up 21.2% since the beginning of the year, standing at 5.34% at the time of reporting.
Yesterday (7 January), the yield hit 5.212%, surpassing the levels seen in the fallout of Liz Truss’ Mini Budget back in 2023 and set a new record for the millennium.
The 10-Year gilt is 20.9% higher since 1 January 2025, reaching 4.78% this morning.
Higher yields prompt investors to pour into fixed income funds as UK equities break outflow spell
Richard Carter, head of fixed interest at Q…
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Baby City snapped up by new owner before end-of-year insolvency The Post
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The company behind the award-winning Manchester spirit brand Didsbury Gin has gone into liquidation – owing close to £200,000 to creditors.
Launched in 2017 by Mark Smallwood and Liam Manton, the co-founders enjoyed 15 minutes of fame when they made an appearance on Dragon’s Den in 2019, where they successfully received the backing of Jenny Campbell, who invested £75,000 in return for a 15% share of the business.
The following year, parent company Alderman’s Drinks branched out into rum with ‘Caribbean born, Manchester made’ ARLU Rum. In 2022, the gin brand picked up a bronze award for the World’s Best Classic Gin at the World Gin Awards.
In January 2023, the co-owners were both awarded OBEs after they switched…
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Craft Warehouse, a small local chain of arts-and-crafts stores, said Wednesday it is closing its locations in Beaverton and Vancouver.
The stores — at 13503 S.E. Mill Plain Boulevard in Vancouver and 3125 S.W. Cedar Hills Boulevard in Beaverton — are closed Wednesday to prepare for liquidation sales starting Thursday at 9:30 a.m.
“The liquidation process will take weeks to complete,” company president Greg Williams said in a news release. “The company has merchandise that was ordered before the decision to close these locations and has yet to arrive, and additional stock is in our warehouses and at vendors that will move to the stores over the next several weeks to be sold at discounted prices.”
The Williams family bought three…
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Ohio Gov. Mike DeWine signed into law what will bring huge financial relief for hundreds of thousands of drivers.
People with some debt-related license suspensions could get their licenses back by this spring.
News 5 Investigators teamed up with the Marshall Project-Cleveland to report on this issue for more than a year.
Our reporting led to changes in legislation and culminated today with the governor’s signature on House Bill 29.
Ohio now becomes the 25th state to move away from debt-related penalties, according to the Ohio Poverty Law Center.
In August 2023, Marshall Project-Cleveland’s Mark Puente and I first brought the stories of people dealing with financial hardships.
No License to Drive: Why so many Ohioans are…
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Star Entertainment’s future, which has been hanging by a thread for close on a month, has been saved.
After a second NSW inquiry again found it unfit to hold a casino licence, the group has struggled to secure a financial lifeline and delayed the release of its accounts, which are expected to show huge losses after massive write downs on its assets.
The company’s financial position became so precarious during this period, that sources close to the company told the ABC Star directors discussed the possibility of calling in administrators.
And, while the banking syndicate has agreed to tip in an extra $200 million in new loans to keep it afloat, complications in the rescue continued to the very end.
What appeared to be an agreement with the…
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Restructuring & Insolvency Laws and Regulations Report 2024-2025 ICLG.com
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Woking council has declared it is in effect bankrupt after admitting a risky investment spree involving hotels and skyscrapers overseen by its former Conservative administration had left it facing a deficit of £1.2bn.
In what is thought to be the biggest financial failure in local government history, the Surrey council said it had issued a section 114 notice on Wednesday in response to “unprecedented financial challenges” facing the town.
A section 114 notice is effectively an admission that a local authority does not have the resources to meet current expenditure, with Woking joining Thurrock, Croydon and Slough as the latest English council to run into trouble after ploughing cash into risky commercial investments.
Woking said that…
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In all three regions saw an increase in the number of companies being declared bankrupt in 2024.
– In Flanders there was a record number of bankruptcies for the second year running: 6,674. This is 5.49% more than in 2023.
– In Brussels, a total of 1,969 companies were declared bankrupt, a rise of 15.08% on 2023.
– In Wallonia, there were 2,803 bankruptcies, up 4.98% on 2023.
Construction, transport and garages fared particularly badly. In the construction industry there were 14.16% more bankruptcies than in 2023. In transport 5.48% more companies went bust than in 2023. 12.9% more garages went bankrupt in 2024 than was the case in 2023.
Interestingly, the hotel and catering industry did not fare badly at all. There was a slight…
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PALM BEACH, FLORIDA – JANUARY 07: U.S. President-elect Donald Trump speaks to members of the media … [+]
As President Joe Biden leaves behind a mixed student loan forgiveness legacy, Donald Trump is set to return to the White House in less than two weeks. And he’ll be inheriting a federal student loan system experiencing historic levels of turmoil.
Biden has had some significant success in dramatically improving the Public Service Loan Forgiveness and Total and Permanent Disability Discharge programs, while…
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