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Something is going wrong in this country if we cant stand up for our most vulnerable fellow Australians. Yet it seems many politicians are more interested in plotting and infighting than doing their jobs and standing up for justice.
Pay day loans are almost exclusively used by people on low or very low incomes.
Photo: afrphotos
On Friday I attended a roundtable with locals in Ringwood, together with community organisations and financial advisers who were concerned about the way some payday lenders are exploiting struggling people. What I heard shocked me. The payday-loan industry is raking in profits at the expense of the vulnerable.
Here are the facts. Payday loans are almost exclusively used by people on low or very low incomes. For such p…
ROHNERT PARK, Calif., Sept. 17, 2018 /PRNewswire/ — Ameritech Financial is closely following the recent trend of companies offering employees assistance with college education. Such programs can help to minimize student debt or pay it off, depending on the specifics of the program. For example, companies such as Starbucks, UPS, Wells Fargo and Comcast are offering employees assistance with college education. Now, MGM is doubling down on this trend. The resort and casino giant is offering free online courses and help with both outside tuition and student loan repayment. For those who have already taken on overwhelming student loan debt, Ameritech Financial, a document processing company, can expertly guide borrowers throu…
Ford Motor Company (NYSE:F) faced potential insolvency during the last financial crisis
Ten years ago, amidst the worst financial crises since the Great Depression, the American auto industry almost died. By Fall 2008, the Big Three US car companies of General Motors, Chrysler, and Ford faced potential insolvency, and without swift government intervention, their futures were in doubt.
Just prior to the financial crises, under the direction of then-CEO Alan R. Mulallys One Ford plan, Ford had restructured its entire portfolio and raised $US36 billion in financing from the capital markets. Ford sold Swedish-based Volvo, which it had owned since 1999, to Chinese carmaker Geely for $US1.5 billion and also sold Jaguar and Land Rover to Indi…
OCEANPORT, N.J. (AP) – It’s early in a college basketball game and Team A, playing methodically and using up most of the 30-second shot clock, falls behind 10-6. Scattered around the bleachers, several fans staring at their smartphones celebrate silently: they have bet on Team B to be the first to reach 10 points and even promised two Team A starters a cut of the winnings.
With dozens of states rushing to capitalize on the U.S. Supreme Court lifting a federal ban on sports gambling, will fixed scenarios like the one above become more common?
The four major pro major sports leagues and the NCAA think so, and have argued for years that expanding legal betting will lead to more game-fixing. The pro leagues have sought, unsuccessfu…
VANCOUVER, British Columbia, Sept. 17, 2018 (GLOBE NEWSWIRE) — Imperial Metals Corporation (Imperial or the Company) (TSX:III) commences a financial and business restructuring process.
As of the close of business on September 14th Imperial completed the following actions:
Extension of the due date of the Companys Secured Revolving Senior Credit Facility of $200 million from October 1, 2018 to February 15, 2019. The Secured Revolving Senior Credit Facility is now supported by a guarantee from Edco Capital Corporation, a company controlled by a significant shareholder of the Company, for an annual fee of 225 basis points. The annual guarantee fee is less than the reduction in the interest rate charged on the extended Senio…
BOCA RATON, FL / ACCESSWIRE / September 17, 2018 / Debt can become a vicious cycle. When interest accrues faster than you can pay, or you continue to rack up debt even as you try to pay it down, you may start to feel as though you’ll never eliminate debt. If the amount you owe keeps increasing despite efforts to pay it down, your situation can seem futile and bankruptcy may seem like your only choice. This is a mistake. With the expert assistance of the qualified professionals at Resolvly, including President and CEO Gregory Fishman, you can reduce and eliminate debt without impacting your credit rating for the next seven years.
Bankruptcy should always be a last resort when dealin…
Carillion, the tip of the iceberg, but the good ship construction cannot change its course
by Ian Anfield, Hudson Contract managing director
Figures published last week highlight the fact that our major contractors are a spent force, and ultimately why they should no longer be allowed to dominate the industry and influence government policy around construction.
Disappointingly, even after the collapse of Carillion, major contractors continue to sweep up the vast majority of publicly funded projects. Local authorities are still falling over themselves to outsource, and despite nice words, small works packages continue to be bundled up into mammoth frameworks, locking out small and medium sized contractors who have the genuine ability t…
Noble Group plans to introduce the schemes of arrangement that underpin its restructuring this week, a key step in the creation of a new company that senior creditors signalled will hold to the highest standards of corporate governance after a drawn-out crisis.
The schemes, which buttress the $US3.5 billion ($4.9 billion) debt-for-equity rescue, will be introduced in courts in London and Bermuda by September 21, the commodity trader said on Monday. In a separate release, the company’s ad hoc group, or AHG, of senior creditors said they expected “Old Noble” to file for insolvency, while its successor entity revives the core business overseen by a tough…
Sub: Notice of Second Meeting of Committee of Creditors (CoC) of Uttam Value Steels Limited (Corporate Debtor)
Pursuant to the provisions of Regulation 30 [Schedule III, Part A, Clause A (16) (g)] of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 we wish to inform you that the Second meeting of the Committee of Creditors (CoC) of Uttam Value Steels Limited (Corporate Debtor) under the provisions of the Insolvency and Bankruptcy Code, 2016, is scheduled to be held today.
Populists have jumped on the chance to capitalize on disillusionment and lead a movement for isolationism. How far will this go, Michel Longhini asks in his essay for finews.first.
finews.first is a forum for renowned authors specialized on economic and financial topics. The texts are published in both German and English. The publishers of finews.com are responsible for the selection.
This autumn will mark the tenth anniversary of the most spectacular bankruptcy of all times. On 15 September, 2008, banking heavyweight Lehman Brothers, knocked sideways by the bursting of the sub-prime mortgage bubble a year earlier, declared itself insolvent with $613 billion worth of debt.
Scores of debt-ridden young people in Surrey are declaring themselves insolvent before they reach their mid-20s and a debt adviser who works in Redhill has explained why.
New data shows a total of 1,413 people in Surrey either went bankrupt, took on a debt relief order (DRO) or accepted an individual voluntary arrangement (IVA) to manage their debts in 2017.
Of those, 83 were aged under 25.
Chris Gladstone, debt advisor for Community Debt Advice – a church charity based in Redhill – said: We havent had too much experience recently of young people coming to us for debt advice but we will often see youngsters with huge amounts of student debt.
We also see a lot of young people who have racked up a large amount of credit card debt. I saw a …
