The Special Investigating Unit (SIU) is investigating the alleged theft of R139 billion from Eskom, related to the construction of the Medupi and Kusile power stations, the Sunday Times has reported.
This is reportedly part of a broader SIU investigation into the theft of about R170 billion from the power utility.
The paper reported that the SIU is looking at 11 contractors as part of its investigation into the building of the two units. It is reportedly one of the biggest undertaken by the SIU yet, with the unit bringing in additional investigative capacity, including expert engineers.
The investigation began in June 2018 and also comprises other state authorities like the National Prosecuting Authority, the Asset Forfeiture Unit…
Read the full article at: https://www.fin24.com/Economy/siu-probes-r139-billion-rot-at-medupi-and-kusile-report-20190224
Sky News has learnt that a syndicate of lenders including prominent hedge funds has appointed FTI Consulting to advise on their interest in one of Britains biggest retailers.
FTIs appointment is understood to have been signed off just days before Christmas, with Debenhams hoping to defy expectations of a dire festive trading period for the wider non-food retail sector.
The move will come as Debenhams prepares to hammer out the details of a wide-ranging restructuring plan that will involve closing dozens of stores, axing thousands of jobs and seeking an agreement with banks and other creditors.
The company has total borrowing facilities of just over 500m, which are due to expire next year but which can be extended until 2021.
Its mainst…
Read the full article at: https://feltonbusinessnews.com/debenhams-lenders-brace-for-crunch-restructuring/91724/
Social worker Jenny McCabe helps other people all the time, but it was her own financial stress that put her on the path to getting help herself.
Struggling with high credit card debts after a relationship breakdown, Ms McCabe said she burst into tears of relief at her first meeting with a professional financial adviser.
Relieving her stress started with identifying short and long-term goals and creating a plan that included clearing debt quickly and growing wealth through her work and property renovation.
The pain of health insurance hikes
End family fights over electricity
Sure Im tempted at the shops now and again, but I watch what I spend and make sure my salary is well managed, Ms McCabe said.
Her money stress experiences are similar to…
Read the full article at: https://www.news.com.au/finance/money/fight-back-against-financial-stress-by-knowing-where-your-cash-goes/news-story/071d00b7ab3bce9e29ee3da5e70a91a2
Former boxer Eubank was declared bankrupt in November 2005 after racking up debts of 1.3m.
Eubank lived a life of luxury. Fancy cars. Big holidays. Clothes. Shoes. The works.
The former WBO middleweight and super-middleweight champion is regarded as the fourth best British super-middleweight in history.
But, after hanging up his gloves in 1998 with a record of 45-5 and two draws, he struggled to maintain payments and spiralled out of control.
READ MORE:WHY DO JAMES DEGALE AND CHRIS EUBANK HATE EACH OTHER?
Debts varied from relatively light 450 for moving a lorry that was blocking his path and unpaid restaurant bills worth 1,400 to much bigger and more expensive extravagancies, such as flying Concorde to Barbados.
“Over the ye…
Read the full article at: https://www.express.co.uk/sport/boxing/1091276/Chris-Eubank-bankrupt-1Million-James-DeGale-O2-Arena-ITV
GPs in England have been told they can no longer charge a fee for paperwork to help people with mental health problems who are being pursued by creditors or debt collectors to access support.
The British Medical Association (BMA)hascommitted to ending charges for mental health debt forms, which can be requested as evidence by creditors when someone is in arrearsand struggling to pay.
…
Read the full article at: https://www.independent.co.uk/news/health/gp-debt-collector-mental-health-illness-crisis-creditor-bailiff-bma-support-a8788971.html
An Information and Communications Technology (ICT) company, Chams Plc, has assured its shareholders of better days ahead following the successful outcome of its restructuring which covers the companys business model, products and financials. Besides, the company has been deploying its e-voting platform to ensure cost-effective and seamless voting system for some reputable organisations in Nigeria.
The Group managing director and chief executive officer, of the company, Mr Femi Williams, who addressed journalists on the companys current status in Lagos explained that the company embarked upon restructuring to sustain its competitive edge and deliver value to all stakeholders.
Williams noted that the restructuring became…
Read the full article at: https://leadership.ng/2019/02/23/firm-assures-shareholders-of-benefit-from-restructuring/