Nottingham, home to 323,700 residents, well-known universities and fictional character Robin Hood, effectively declared itself bankrupt on Wednesday as its council is set to to overspend by £23 million ($29 million) in the 2023-24 financial year. 

This means a pause on all non-essential spending on services not required to be provided by law.

A report raised at the Labour-run Nottingham City Council’s Executive Board meeting last week first revealed the budget shortfall.

The Nottingham City Council highlighted that it was facing a slew of challenges resulting in the gaping hole in its budget in a Wednesday report. These…

There is uncertainty about the future of Rex – Australia’s third-largest airline – after it entered voluntary administration and grounded all of its flights between capital cities.

The Albanese government held crisis talks with Rex on Tuesday and appeared willing to step in to save parts of the airline’s operations.

While Rex jet services between capital cities such as Sydney, Melbourne and Brisbane are grounded and ticket sales halted, its regional services are unaffected, administrators from EY – previously known as Ernst & Young – said in a statement on Tuesday night.

The airline entered a trading halt on Monday. The news follows the recent collapse of budget carrier Bonza in a market dominated by the Qantas and Virgin…

Bruno Mars’ gambling debt reports are seemingly false.

On Monday, the MGM Resorts told TMZ that the 38-year-old singer “doesn’t have a $50 million gambling tab on the books with them.”

Their statement comes after a paper named NewsNation reported that Bruno is in a deep debt with the casino.

“He owes millions to the MGM [from gambling] and his debts have gotten as high as $50 million,” the publication reported, and claimed that the MGM “owns him.”

They also quoted their source telling them, “Bruno makes $90 million a year off of the deal he did with the casino, but then he has to pay back his debt… after taxes.”

“He makes $1.5 million per night as…

Steward Health Care System LLC filed for bankruptcy early Monday after a period of mounting financial challenges and government scrutiny over the impact of its hospital closures on patients.

The Dallas-based firm is finalizing a rescue loan with landlord Medical Properties Trust Inc., according to the filing. It sought Chapter 11 protection in the Southern District Court of Texas and listed both assets and liabilities of $1 billion to $10 billion.

The number of corporate bankruptcies in Japan rose 28.3% from a year earlier to 783 in April as smaller firms struggled to pass on higher costs stemming from rising prices to customers, credit research firm Tokyo Shoko Research has said.

It was the first time in four years for the number of bankruptcies to exceed 700 in April. The data, released Friday, covered failures involving liabilities of ¥10 million or more.

Total liabilities left by failed companies dropped 44.3% to ¥113,423 million after a large-scale bankruptcy a year earlier.

The number of bankruptcies linked to rising prices climbed 16% to 58, marking four consecutive months of increase, led by construction firms and manufacturers,…

Nicole from Sydney was out with friends when she found out the federal government had made changes to the way HECS or HELP loans were indexed.

She was shocked, and not in a good way.

Nicole’s student debt was affecting her ability to buy her first home.

“The difference that my having a HECS debt made to my borrowing power was close to $100,000. Obviously, with house prices the way that they are at the moment, not having that extra $100,000 of borrowing capacity was the difference between me being able to buy a property and not being able to buy a property,” Nicole explained.

So, she decided to pay the debt off, using the savings she’d earmarked for her home deposit.

Administrators believe a one-time local success story — Face Halo — can be revived, after the make-up removal business went under earlier this month.

Face Halo, which was founded by Perth’s Lizzy and Damien Pike, was voluntarily placed into the hands of administrators from WA Insolvency Solutions.

Bruno Mars was never in debt. Any claim about the singer owing money to anyone have been debunked by the casino’s management themselves.

MGM Resorts sided with Bruno Mars Monday after the singer was allegedly called indebted to the casino.

A report from NewsNation last week claimed that the Grammy winner was knee deep in gambling debt that had built up to $50 million at MGM.

The news was cited through an anonymous source close to the matter by the outlet, and claimed that Mars allegedly earned $90 million annually, through his residencies at MGM but was exhausting a large amount of that profit to get off his gambling debt.

“[He will] only make $1.5 million per night after taxes,” the report…

Robert Bull, the owner of beleaguered caravan giant RoyaleLife that is facing £725 million ($916 million) in debt, was declared bankrupt by an English court on Friday.

It’s a stunning reversal for a man who, just seven months ago, was said to have a wealth of £1.9 billion and was the second-highest ranking new entry in The Sunday Times rich list. Judge Michael Giddins made a bankruptcy order against Bull on Friday in a hearing at County Court in Southampton, England.

Rex flies to 56 destinations including many in regional Australia such as Port Macquarie, Coffs Harbour, Orange, Dubbo and Albury in NSW, Mount Gambier in South Australia, Burnie and Devonport in Tasmania, Cairns and Mt Isa in Qld and Mildura in Victoria.

Deputy Greens Leader and spokesperson for Higher Education, Senator Mehreen Faruqi, has responded to Labor’s bill that was introduced today claiming to wipe $3 billion of student debt.

The bill is nothing more than a mirage to give the impression that the Labor government is wiping student debt, when in fact it will have little impact. Around 3 million Australians have over $74 billion in student debt, so shaving off $3 billion in indexation just scratches the surface.

Equally, the inclusion in the bill of a Commonwealth payment for students undertaking placements in nursing, teaching and social work is wholly inadequate and excludes hundreds of thousands of other students required to do unpaid placement work.

As stated by Senator Mehreen…