Debt-stressed home owners and renters are increasingly turning to alternative lenders offering so-called “payday” loans and consumer leases, as falling property prices plunge more households into negative equity and banks crack down on credit.
Key points:
- Payday lenders are growing faster than banks as mainstream credit tightens
- Ease of access to online lenders is pushing households into risky debt situations
- There are calls for tighter regulation of the burgeoning sector
A combination of cost of living pressures outstripping CPI, stagnant wages growth and rising levels of mortgage stress is bei…
Read the full article at: https://www.abc.net.au/news/2019-02-21/payday-loans-increase-as-households-pushed-into-risky-credit/10827342
Exciting Events, the company behind the disastrous Norwich Fortnite Live festival, has gone into liquidation after Epic Games filed a lawsuit against it in Londons high court.
The company hosted a Fortnite-inspired event without authorization from Epic, using the companys trademarks and intellectual properties. Epic took the issue to court yesterday.
These proceedings by Epic Games has had a catastrophic impact on the companys ability to trade, which has forced Exciting Events Limited to cease all trading activities immediately and the director of Exciting Events will now seek to limit the losses to third parties as far as possible, the companys director Shaun …
Read the full article at: https://dotesports.com/fortnite/news/the-company-behind-the-fortnite-live-norwich-festival-has-gone-into-liquidation-after-epic-lawsuit
Remember the old days?
When youd sit down at your kitchen table with a stack of bills on one side and a checkbook on the other. Paper envelopes were opened and receipts saved as you desperately tried to organize your finances.
Managing your money was a full-day affair and even after youd finish, it was hard to tell exactly where you stand.
Times have changed.
Tracking your money and staying on budget is easier than ever now with the abundance of financial applications. You can automate bill payments, track financial goals, and know your actual net worth by the month, week, day, or even second.
However, there are a lot of choices when it comes to selecting which finance apps you should consider. Today Ill share my top six must-have apps for ma…
Read the full article at: https://dailyreckoning.com/6-must-have-apps-for-managing-debt/
Debt is a trap that is very easy to get into. Is debt consolidation a good idea? That depends.
Debt can prove challenging to get oneself out of. Whether through reckless spending habits or the gradual accumulation of debt responsibilities, too many Americans are mired in hopeless levels of debt.
The general rule of thumb for attaining appreciable financial wealth is to have several income streams. That way, your chances of becoming wealthy improves dramatically.
Yet many people find themselves in deepening debt holes because they have instead multiple recurring debts. Debt increases as people attain more material items, struggle to maintain a preferred lifestyle, or assume new debt to pay off existing debt.
T…
Read the full article at: https://realdaily.com/is-debt-consolidation-a-good-idea-depends-on-the-person/
The company behind the Fortnite Live event that was described as a shambles has gone into liquidation, hours after the makers of the game announced they had taken legal action.
Hundreds of people demanded refunds after they spent hours waiting to enter Norfolk showground on Saturday, with attendees complaining of underwhelming attractions and high ticket prices.
There was only space for four children to practise archery simultaneously, and one climbing-wall tower, which could accommodate three climbers, for the estimated 2,800 people at the event.
In an email sent with heavy hearts to ticket holders, Exciting Events said it would cease all activities immediately.
These proceedings by Epic Games has had a catastrophic impact on the compa…
Read the full article at: https://www.theguardian.com/games/2019/feb/20/fortnite-live-company-goes-into-liquidation-creators-file-lawsuit-norwich-event
Ford Motor Co. is shutting a factory in Brazil in an attempt to turn around its money-losing South American business, dealing a blow to Jair Bolsonaro less than two months into his presidency.
The automaker expects to record $460 million in charges related to exiting the heavy-truck business in all of South America, according to a statement. Its halting production this year at its So Bernardo do Campo assembly plant, which employs almost 2,800 workers building Cargo, F-4000 and F-350 trucks, plus the Fiesta small car.
We know this action will have a major impact on our employees in So Bernardo and we will be working closely with all our stakeholders on the next steps, Lyle Watte…
Read the full article at: http://fortune.com/2019/02/20/ford-shutters-brazil-truck-plant/
The most recent development in the Gupta drama that has been ever-present in South African news sees one Gupta-owned company potentially putting another into liquidation.
Tegeta sprung into prominence when former Public Protector detailed Eskoms involvement, allegedly at the behest of the Guptas in making the sale of the Optimum mines to Tegeta possible at the expense of Glencore.
Tegeta stopped trading during 2018 but owns shares in the Richards Bay Optimum Coal Terminal, as well as the Koornfontein Mines, and Shiva Uranium. Oakbay owns a 59% stake of Shiva Uranium, another mine under business rescue.
As reported by Baldwin Ndaba from The Star, Tegeta was also placed under business rescue, and…
Read the full article at: https://www.thesouthafrican.com/gupta-companies-apply-liquidation-oakbay-tegeta/
Registered to a residential address in East London, GoNutri Limited was wound up in the High Court on 12 February 2019 for trading with a lack of commercial probity, objectionable trading practices and improper sales techniques.
Following confidential enquiries, investigators from the Insolvency Service found that GoNutri targeted elderly and vulnerable people, bombarding them with cold calls and high pressure sales techniques to coerce them to purchase vitamin and mineral supplements.
Using a call centre based abroad to push the products, sales operatives occasionally misled customers in thinking they were representing health centres in the UK or other parts of the NHS.
Products were sold at highly inflated prices and the same item …
Read the full article at: https://www.gov.uk/government/news/unscrupulous-east-london-health-supplements-company-shut-down
[Los Angeles,CA- United State] 02/20/2019: Global Credit Settlement Market report presents a detailed analysis of the competitive landscape along with company profiling of key players competing in the world. The competitive analysis offered in the report includes market share, gross margin, product portfolio, consumption, market status, and technologies of leading players operating in the global Credit Settlement market.
Global Credit Settlement Market report also provides market development statistics, a list of select leading players, deep regional analysis, and a broad market segmentation study to give a complete understanding of the global Credit Settlement market.
Top Players of Global Credit Settlement Market:- Guardian Deb…
Read the full article at: https://weeklywall.com/2019/02/20/credit-settlement-market/
NAGPUR: The National Company Law Tribunal (NCLT) has admitted an insolvency petition against a Chandrapur-based company over a liability of Rs2.81 lakh. It is among the smallest amounts, so far, for which a case has been fought under the Insolvency and Bankruptcy Code (IBC) 2016, said insolvency practitioners.
Even as IBC 2016 has set the threshold limit of dues for which a petition can be admitted at Rs1 lakh, rarely has a case been filed for such an amount, said professionals.
The company, Samadhan Marketing and Merchandise Private Limited, is running departmental stores in Chandrapur. The petition was filed by brothers Nandlal Popat and Dhayalal Popat, who were former directors of the company. They had leased out their premises to …
Read the full article at: https://timesofindia.indiatimes.com/city/nagpur/tribunal-admits-rs2-81-lakh-claim-under-insolvency-code/articleshow/68070713.cms
The acquisition of hot roll seamless pipe manufacturing company lifted Maharashtra Seamless shares nearly 4 percent in morning on Wednesday.
“….made payment of Rs 477 crore for acquisition of United Seamless Tubulaar Private Limited (USTPL),” the ERW and seamless pipes & tubes manufacturer said in its filing.
TheDP Jindal Group companymade this acquisition under the Corporate Insolvency Resolution Process (CIR process) under the Insolvency and Bankruptcy Code 2016 as approved by Hyderabad Bench of National Company Law Tribunal.
At 09:34 hours IST, the stock was quoting at Rs 444.60, up Rs 11.70, or 2.70 percent on the BSE.
Read the full article at: https://www.moneycontrol.com/news/business/markets/maharashtra-seamless-rallies-4-on-acquisition-of-pipe-maker-under-cir-process-3560971.html