In addition, Tata Steel has also agreed to infuse Rs 1,200 crore as working capital and offered a 12% equity stake to the Singals, the existing promoter group of Bhushan Steel. (IE)
House Speaker Paul D. Ryan (R-Wis.) on Thursday headed to vote on the federal budget at the U.S. Capitol. (Shawn Thew/EPA-EFE/REX/Shutterstock)
Teachers, social workers and other public servants at risk of missing out on federal student loan forgiveness because they enrolled in the wrong repayment plan now have a shot at debt relief under the spending bill signed into law Friday.
[ Congress rejects much of Betsy DeVoss agenda in spending bill ]
The sweeping $1.3 trillion bill includes a measure that temporarily expands Public Service Loan Forgiveness, a program that cancels federal student debt after 10 years of on-time payments for people who take jobs in the public sector.
The program requires borrowers to be enrolled in specific …
Read the full article at: https://www.washingtonpost.com/news/grade-point/wp/2018/03/23/how-a-provision-in-the-spending-bill-could-help-public-servants-with-student-debt/
The anguish on Michael Harriss face said it all.
The British-born roofer broke down this week when he appeared as a witness at the banking royal commission.
In between deep breaths, Harris told commissioner Kenneth Hayne how he had amassed a $35,000 credit card debt with the Commonwealth Bank, and how his attempts to get the bank to stop offering him credit limit increases proved futile.
In 2016, he had told a CBA staff member that he had a gambling addiction, and said he had pleaded with the bank to stop offering him more credit, but the offers had kept coming and his debt kept ballooning.
I explained Im a gambler, I have a gambling problem, they can clearly see that Ive got a gambling problem because of the transactions Ive been …
Read the full article at: https://www.theguardian.com/australia-news/2018/mar/24/they-can-see-ive-a-gambling-problem-banks-lending-practices-laid-bare-at-royal-commision
Richard Elman, the 77-year-old founder and largest shareholder of Noble Group Ltd., quit due to “differences of opinion” with the firms board and creditors over its future, in a fresh blow to the trading houses attempts to push through a massive debt restructuring.
The statement Friday came less than two hours after a regulatory filing showed that Elman this week trimmed his stake in Noble from 18.07 percent to 17.94 percent. The sale is small but symbolic: Elman, who started Noble with $100,000 of his savings in 1986, sold shares only once previously in the companys history, he testified in a court case last year.
The disclosure of Elmans disagreement with the board and the creditors “on the way forwards” caps a dire wee…
Read the full article at: https://www.bloomberg.com/news/articles/2018-03-23/noble-group-founder-elman-resigned-due-to-differences-with-board
Teachers, social workers and other public servants at risk of missing out on federal student loan forgiveness because they enrolled in the wrong repayment plan now have a shot at debt relief under the spending bill signed into law Friday.
The sweeping $1.3 trillion bill includes a measure that temporarily expands Public Service Loan Forgiveness, a program that cancels federal student debt after 10 years of on-time payments for people who take jobs in the public sector.
The program requires borrowers to be enrolled in specific repayment plans, primarily those that cap monthly loan payments to a percentage of a borrower’s income. But some people have complained about loan servicing companies failing to provide consistent and clear g…
Read the full article at: https://www.hudsonvalley360.com/article/provision-spending-bill-could-help-public-servants-student-debt
Tata Steel on Friday said it has accepted the letter of intent for the sale of Bhushan Steel for an undisclosed amount. According to industry sources, the Tata group firm is likely to pay Rs 352 billion in cash for the deal. However, there are likely to be hiccups since the National Company Law Tribunal (NCLT) has fixed April 3 as the date for deciding on Larsen & Toubros (L&Ts) petition, which had challenged the process, saying its dues of Rs 9.62 billion should be cleared first. The Committee of Creditors had declared Tata Steel the successful bidder for Bhushan Steel on Thursday, subject to regulatory approvals, including from the NCLT and the Competition Commission of India. Tata St…
Read the full article at: http://www.business-standard.com/article/companies/insolvency-resolution-tata-steel-set-to-buy-debt-laden-bhushan-steel-118032301328_1.html
Prezzo restaurant group to close 94 outlets
Image copyright
Getty Images
Creditors of restaurant group Prezzo have backed a restructuring plan that will see it close 94 outlets – about a third of the chain.
It is estimated the move could lead to 500 job losses. The chain, which is owned by private equity firm TPG Capital, employs about 4,500 people.
The 94 closures include restaurants un…
Read the full article at: http://www.bbc.co.uk/news/business-43515133
Ascension is restructuring as it pursues a new strategic direction, hinting at transitioning from a hospital-oriented system to one that’s focused on outpatient care and telemedicine. That’s what the largest Catholic health system told its 165,000 employees early Friday morning via a video featuring Ascension President and CEO Anthony Tersigni that Modern Healthcare has exclusively obtained.
Earlier this month, the Ascension board of directors unanimously endorsed its new “advanced strategic direction,” Tersigni told his employees, as it faces dwindling reimbursement from government and commercial payers; growing regulatory complexity; skyrocketing pharmaceutical costs; shifting from inpatient to outpatient care and from fee-for-serv…
Read the full article at: http://www.modernhealthcare.com/article/20180322/NEWS/180329953