Johannesburg: South Africa will host the G20 summit this weekend, aiming to secure commitments on debt relief for developing countries and to tackle global inequalities as the United States boycotts the event.

US President Donald Trump, who has clashed with South Africa over its G20 agenda, is skipping the summit amid a wider US retreat from multilateralism that has rattled global order.

President Cyril Ramaphosa told reporters ahead of the November 22-23 event that the US absence is “their loss”.

The United States is the most powerful of the 19 countries in the G20, which represents 85 percent of global GDP and about two-thirds of the world’s population, and also includes the European Union and the African Union.

The US boycott…

Failed hospitality tycoon Jon Adgemis funded his luxury lifestyle with credit cards and money flowing through his collapsed pub empire, according to a new bankruptcy report detailing the businessman’s complex financial dealings and mounting debts.

Adgemis, once in control of 22 pubs and hotels across Sydney and Melbourne and now burdened with $1.8bn in debt, was bankrupted two months ago after the Australian Taxation Office seized control of his attempted insolvency and appointed a new trustee.

The report by Pitcher Partners partner Andrew Yeo outlines a web of companies, assets and vehicles tied to Adgemis.

It reveals he expects to earn $490,000 a year from an undisclosed employer and lists undisclosed precious jewellery,…

“Zimbabwe’s history of hyperinflation and failed monetary experiments means it remains highly dollarized. The U.S. dollar is the main medium of exchange, while the share of ZiG in monetary aggregates is small at around 17%. Prices are rarely quoted in ZiG, and salaries and goods and services transactions are typically either fully or partially paid in U.S. dollars.” 

While stabilizing inflation is undoubtedly positive, the landlocked nation will need to remain steadfast regarding other challenges, before unlocking national sovereignty. Zimbabwe’s public debt, which reached $23.2 billion in 2024 (72.9% of GDP), per the World Bank, remains a discouraging barrier to foreign investment.  

In today’s Finshots, we talk about why BYJU’s parent company is finding bidders despite being under insolvency proceedings and mostly defunct.

But here’s a quick sidenote before we begin. Insurance actually matters only in one moment — when your family needs to make a claim. Most people never hear real claim stories until it’s too late.

But choosing the right plan is just as important. Many people buy policies that don’t fit their needs, miss key features, or overlook small details that cause trouble later.

So this weekend, we’re hosting a free 2-day Insurance Masterclass built around real cases we’ve handled and simple rules for shortlisting the right plan.

Saturday, 22 Nov at 10 AM: Life Insurance
How…

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LEXINGTON, Ky. (LEX 18) — Lexington has made history as the first city in Kentucky to abolish medical debt for some of its residents, with Vice Mayor Dan Wu announcing that more than $12.6 million in medical debt has been erased for 6,484 Fayette County residents.

The groundbreaking initiative, three years in the making, began when Wu proposed allocating $1 million to tackle the growing medical debt crisis. The Urban County Council unanimously approved the plan in October 2024, partnering with Undue Medical Debt, a national nonprofit that purchases large bundles of unpaid medical bills at steep discounts and eliminates them completely.

“Today, I am thrilled to announce the first round of medical debt relief here in Lexington, Fayette…

Gold Coast businessman Adam Blackwell is allegedly under investigation by a liquidator for allegedly syphoning funds from collapsed panel beating group Action Smart, according to a recent report in News Corporation newspapers.

The Group collapsed with creditors believed to be owed over $22million, while it is alleged that the liquidator is investigating Blackwell for more than $20million in payments made to two senior management members of the Group.

The report also alleges that the Group operated while insolvent during 2023.

Paint & Panel Magazine reported that the Group and its subsidiaries, Caravan Fix, End Repair Solutions, BHG Automotive Group, Action Smart Transport and AD Glass, were placed into voluntary liquidation in April….

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The Government of Jersey lent Blue Islands £8.5m in mid-2020 to secure “lifeline connectivity during a period of unprecedented disruption” – including transport for medical patients to Southampton.

Ministers said that the airline had since made interest and capital repayments to government of £3.2m.

But, including interest, that left £7.4m outstanding.

And it has now emerged that ministers made two additional loan payments to Blue Islands, including £1.2m on 12 September, and £500,000 on 7 November – seven days before it ceased trading.

The government said as a “secured creditor” it expected “some funds may be recoverable”, although this would be subject to the liquidation process.

The two most recent payments were made as the airline…