While online sports gambling sites have struggled to make up lost revenue during COVID-19, new research shows the industry’s sudden rise could be having a negative impact o…
Read the full article at: https://www.dailymail.co.uk/sciencetech/article-8495377/New-study-shows-rise-online-sports-betting-negative-effect-young-men.html
Image copyright Getty ImagesSandwich chain Pret A Manger is to close 30 outlets and is expected to cut at least 1,000 jobs at other shops as part of a post-pandemic restructuring.
The company said the impact of coronavirus on trading meant it had to make a “difficult decision”.
Pret said it needed to reduce headcount across its UK shops to “reflect lower footfall, rental costs and new safety measures”.
It did not say how many jobs would go, but a source confirmed more than 1,000.
About 330 jobs will be lost with the closure of the 30 shops. Pret said 339 of its 410 shops have so far reopened following the easing of lockdown restrictions.
‘Sad day’
But trading remains slow, with sales down 74% from a year earlier, the company said. …
Read the full article at: https://www.bbc.com/news/business-53304869
Not all advice is good advice. And when it comes to advice on how to better manage your finances, there are a lot of common misconceptions floating around that experts are eager to discredit.
CNBC SelectaskedLeslie Tayne, a debt-relief attorney and founder of Tayne Law Group, about some of the bad advice her clients have told her they received, and she had a lot to say.
Below, Tayne shares some of the worst financial advice she has heard given to her clients and debunks these myths so you can make better decisions when it comes to your money.
1. Bad advice: You should refinance your house to pay down credit card debt
The last thing you want to do if you’re struggling to pay off your credit card is to put yourself in jeopardy of los…
Read the full article at: https://www.cnbc.com/select/worst-financial-advice/
Monday, July 6, 2020
On 26 June 2020 theCorporate Insolvency and Governance Act 2020(the Act) came into force, introducing a number of temporary measures to assist companies facing financial difficulties as a consequence of COVID-19. These temporary provisions apply retroactively to cover the period commencing 1 March 2020 (26 March 2020 with respect to corporate governance provisions) and ending on 30 September 2020 (the Relevant Period). The Relevant Period can be reduced or extended by up to six months for each measure if determined necessary by the Secretary of State. These temporary measures do not apply to certain excluded companies, such as financial institutions and regulated entities.
Suspension of Wrongful Trading
The Act temp…
Read the full article at: https://www.natlawreview.com/article/key-takeaways-corporate-insolvency-and-governance-act-2020-temporary-measures
Islamabad [Pakistan], July 6 (ANI): Pakistan will sign its debt relief agreement with G20 countries separately before the deadline of December 31, 2020, in order to avail debt relief of slightly over USD 2 billion (Rs 335 billion) to mitigate negative effects of COVID-19 pandemic, as per media reports.
A top official of the Finance Division told The News on Sunday that the work was in progress for availing debt relief announced by G20 countries.
“So far we have reconciled over one dozen creditors out of a total 20 so we are making efforts to accomplish reconciliation of exact debt data as soon as possible after which Islamabad will have to sign an agreement with each bilateral creditor separately,” the top official said.
Other sources s…
Read the full article at: https://www.bignewsnetwork.com/news/265686194/pakistan-to-avail-rs-335-billion-debt-relief-from-g20
AvnerRadomskyandMichaelGoldstein, directors ofRG Insolvency, were appointed as joint liquidators of Twinmar on 19 June.
A new subsidiary of the Twinmar Group, Twinmar London, bought Sole Trader’s assets, including its stock. It will permanently close eight of its37 stores in the UK, including its branches in Westfield Stratford City and Milton Keynes. The 29 remaining Soletrader stores will reopen in July.
The Soletrader website, which operates as a separate business, will not be affected and will continue to trade. The retailer’s brands, including Soletrader and Sole are owned by Twinmar Group, and will not be impacted by the creditors’ voluntary liquidation.
The company said this necessary action will place the Twinmar Group in a s…
Read the full article at: https://www.drapersonline.com/news/sole-trader-restructures-via-creditors-voluntary-liquidation
Willie Breedt, the alleged bitcoin and cryptocurrency scammer, has been declared bankrupt, according to a report by News 24.
Earlier it was reported that around 2 000 investors in Breedts defunct company, VaultAge Solutions (VS), stand to lose around R227 million after promises by Breedt to pay out their investments and growth were not honoured.
The Most Diverse Audience to Date at FMLS 2020 Where Finance Meets Innovation
According to the news source, one of the biggest investors, who entrusted R7.5 million to Breedt, Simon Dix from Hilton, KwaZulu-Natal, successfully applied for a sequestration order against Breedt on Friday.
The Gauteng High Court in Pretoria granted the order to Dix.
In January this year, Breedt moved from Krug…
Read the full article at: https://www.financemagnates.com/cryptocurrency/former-crypto-firm-ceo-willie-breedt-declared-bankrupt/
A surge in use of online sports betting platforms, and promotional tactics such as free bets to hook users in, pose a significant and growing public health challenge which needs urgent attention from policymakers, according to the author of a new academic study.
Writing in the Journal of Public Health, Dr Darragh McGee from the University of Bath highlights how a normalisation of online sports betting over recent years has had detrimental impacts on the lives of young adult men.
His analysis describes a ‘gamblification of sports’ – whereby new mobile app technologies and a liberalisation of regulations surrounding sports advertising have combined to broaden the appeal and entry-point of gambling. This has been promoted as something fo…
Read the full article at: https://www.eurekalert.org/pub_releases/2020-07/uob-goo070320.php