Pablo Gonzalez
Argentina asked the International Monetary Fund for financing to help stem a five-month-rout in the peso that is sparking a surge in interest rates and threatening to derail the country’s economic recovery.
“This will allow us to face the new global scenario and avoid a crisis like the ones we have faced before in our history,” President Mauricio Macri said in a televised address on Tuesday (Wednesday AEST).
The president didn’t state how much money was being requested but a person with direct knowledge of the talks said officials are seeking a flexible credit line worth $US30 billion ($40.2 billion). Treasury Minister Nicolas Dujovne was to lead a delegation to W…
Read the full article at: http://www.afr.com/markets/debt-markets/argentina-seeks-us30b-imf-financing-to-address-peso-volatility-20180508-h0ztgw
Photo: Mint
New Delhi: The National Company Law Tribunal (NCLT) principal bench on Tuesday admitted Union Bank of Indias (UBIs) plea seeking initiation of insolvency proceedings against Era Infra Engineering Ltd for recovery of Rs681.04 crore, along with an overdue external commercial borrowing of $11.97 million.
The order on admission of the plea was reserved by a bench headed by President Justice M.M. Kumar on 25 April. Era Infra is the last of the 12 large loan defaulters, identified by the Reserve Bank of India last June to be referred to bankruptcy courts.
The admission kick-starts a time-bound 180-day insolvency resolution process, which can be extended by an additional 90 days, for debt-ridden Era Infra. As a result, management cont…
Read the full article at: https://www.livemint.com/Companies/Thwjr3tP7h6Os1W5Ioic1N/NCLT-admits-Union-Bank-of-Indias-insolvency-plea-against-Er.html
Franchisees gagged
Steve Beadle’s Red Rooster franchise in the Melbourne suburb of Lyndhurst went into liquidation three months ago and Beadle says he was “effectively a slave” working for free for seven years and ending up $500,000 in debt.
But Beadle says most current and former franchisees can’t reveal their struggles with Craveable as they have been gagged.
Steve Beadle says Craveable franchisees are being gagged.
Photo: Justin McManus
“I am not alone, there are a lot of other people that have lost stores in the brand,” he says. “Because it was a voluntary liquidation I have maintained control over the way I have exited and I haven’t been gagged.”
One former Oporto franchisee says he has to remain anonymous because of the likelih…
Read the full article at: https://www.smh.com.au/business/small-business/franchisees-gagged-as-red-rooster-oporto-enter-damage-control-20180508-p4ze01.html
An electrical short circuit was apparently responsible for sending a public bus up in flames on Tuesday in Rome. Initially people thought it was a terrorist attack.
Residents and tourists watched the bus turn into a blazing inferno in the heart of Rome’s historic center. No one was seriously injured.
The incident happened shortly after 10 a.m. (0800 UTC) Tuesday. Several explosions set off nearby car alarms.
The bus explosion took place on the Via del Tritone just a few blocks from the premier’s office and the Trevi Fountain. It also charred several stories of a nearby building.
A short circuit caused a bus in Rome to catch fire
Prosecutors and the public transport service ATAC have opened an investigation into the cause. The …
Read the full article at: http://www.dw.com/en/rome-public-bus-catches-fire-near-trevi-fountain/a-43701781
Millions of lower and middle-income workers will get immediate tax relief and some an extra $530 a year under measures announced in the Federal Budget.
But the wait for welfare and job search help for migrants and refugees will get longer under government plans to reduce the nations social services debt.
And the government will achieve one of its biggest savings measures by cutting the number of general practitioners brought to Australia on visas each year.
Tax relief for workers
Tax refunds will increase for all Australians earning up to $125,000 year but will be most lucrative for those earning between $48,000 and $90,000.
At least 4.4 million Australians will receive the maximum benefit of $530 under a new tax refund plan.
The refund will …
Read the full article at: https://www.sbs.com.au/news/budget-2018-tax-relief-for-workers-refugees-wait-longer-for-welfare
Meet Mentiis, a friendly chatbot who really wants to help you get a mortgage but just can’t close the deal.
Automated chatbots are increasingly common in online commerce, but in the mortgage industry, you’re almost certain to be speaking to a human sales rep even in an online chat. Bot technology is still fairly rudimentary, and there’s a lot of money at stake in the mortgage game. Humans feel like the safer bet.
That’s why I was quite surprised to come across an online advertisement inviting me to “Talk to the Finance Robot“.
The robot in question was a cute cartoon mortgage bot named Mentiis. I pressed send message and it opened up a Facebook messenger window. After h…
Read the full article at: https://www.finder.com.au/mentiis-the-mortgage-bot-can-get-home-loan-from-lj-hooker
More on Budget 2018:
Welfare recipients who owe taxpayers large debts will be forced to pay back money from their income support payments under measures unveiled in the Federal Budget 2018.
Those whove been ordered to pay fines by the courts will have the funds deducted from their welfare payments until the debt is paid in full.
In addition, welfare recipients with warrants for indictable criminal offences will have their payments suspended for up to a month until the warrant is no longer active.
Disability support pensioners who are in prison wont be able to receive income support for 13 weeks instead of the current two years.
From July 1, 2019, the government will also focus on recovering Centrelink debts over $10,000 and force speedier …
Read the full article at: https://www.sbs.com.au/news/budget-2018-government-to-claw-back-300m-from-welfare-debtors
I owe the banks almost Dh180,000 and was paying properly until 2016, when I lost my Dh10,000 a month job at a multinational company. I struggled to get another job for four months before eventually joining the insurance sector to secure some income. While I was unemployed, I used savings to make my repayments. I signed up for the credit cards to make online purchases and for the loan to clear fees from my degree; some of it was also given to my family. In total I owe:
Loan 1: Dh90,000
Credit card 1: Dh60,000
Credit card 2: Dh20,000
Credit card 3: Dh7,500
Total: Dh177,500
I now earn Dh6,000 and stopped repaying my loan and credit card 1 in July last year and the oth…
Read the full article at: https://www.thenational.ae/business/money/the-debt-panel-graduate-struggling-with-university-debts-after-job-loss-from-multinational-firm-1.728314