The Federal Reserve made headlines again this week when it decided to keep its benchmark interest rate unchanged at a range of 4.25% to 4.5% during its July meeting. The decision to hold rates steady is a continuation of the central bank’s wait-and-see strategy, which it has implemented for 2025 as it monitors how inflation trends and policy decisions impact the costs of everything from…

The National Oil Corporation of Kenya (NOCK) has been declared “technically insolvent” by a parliamentary watchdog committee, which has now ordered a special audit into the agency’s operations.

According to the National Assembly’s Public Investments Committee on Commercial Affairs and Energy, NOCK is unable to meet its recurrent expenditures, owes over Sh7.4 billion in debt, and is at risk of defaulting on loans from major banks.

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Harsh economic times have been cited as the reason for the liquidation of a Wanaka interior design business.

Wanaka Interiors, which was incorporated in March 2022, was placed in liquidation by shareholders resolution last month.

In their first report, liquidators Trevor and Emma Laing, of Laing Insolvency Specialists, said the business, owned by Celeste and Isaac Benefield, provided interior design services and retail of high-end home goods.

Economic conditions resulted in declining revenue and the decision to close the retail operation was made. The decision was then made to formally wind down the business, new tenants were secured for the company’s leased premises and company assets were realised.

There was insufficient value…

Macau concessionaire MGM China issued a rare gaming-related statement in the early hours of Wednesday morning in which it said a legal matter linked to gambling debts involving Hong Kong actor Jacky Heung Cho had been terminated and all debts settled.

The statement followed reports in Hong Kong media earlier in the day alleging that Heung had borrowed HK$2 million (US$255,000) from MGM China – operator of MGM Cotai and MGM Macau – on 1 December 2024 for the purpose of gambling. The reports also claimed that Heung still owed the company around HK$1.4 million, prompting MGM to file action with the Hong Kong District Court seeking payment of the…

The National Company Law Tribunal (NCLT) Hyderabad bench of Sri Rajeev Bhardwaj (Hon’ble Judicial Member) and Sri Sanjay Puri (Hon’ble Member Technical) has held that in absence of any payment received by the Corporate Debtor in a subcontracted work executed by the Operational Creditor, application under section 9 of the IBC cannot be entertained. Filing such an application would be an attempt to use the IBC as a forum to recover the debt which is against the objectives of the IBC.

Drake is giving fans some views of his finances. 

The “NOKIA” rapper opened up about the downsides of his gambling habit by revealing exactly how much money he lost in one month of placing sports bets. 

In a post shared to his Instagram Story June 19, Drake shared a screenshot that gave an overview of his net profits from wagering bets over the course of one month. And according to the image, the 38-year-old had lost a total of $8,235,686 after placing a whopping $124,527,265 worth of bets throughout the four-week period. 

“Gotta share the other side of gambling…” Drake wrote atop the tally. “Losses are so fried right now.”

And while the…

NBA player Marcus Morris Sr. has been arrested in Florida on felony fraud charge linked to an alleged unpaid casino debt. The case has shocked fans and shows how a financial dispute can escalate into serious legal trouble.

On 27 July 2025, Morris Sr. was arrested at Fort Lauderdale–Hollywood International Airport in Broward County, Florida. Police records confirm he faces a felony charge for writing a cheque with insufficient funds.

The charge is tied to an out-of-state warrant over a casino marker, a short-term credit line issued by casinos. Under Nevada law, failure to repay a marker is treated as issuing a bad cheque. Reports indicate the unpaid amount exceeded £950 ($1,200), which is the threshold for criminal charges.

Morris’s…

Bowen Coking Coal Limited (ASX:BCB), along with its subsidiaries Bowen PCI Pty Ltd and New Lenton Coal Pty Ltd, have entered receivership. Bowen Coking Coal is an Australian company focused on developing coking coal projects. The company’s portfolio includes a range of assets and strategic initiatives aimed at capitalising on the growing demand for high-quality coking coal.

On July 31, 2025, Ben Campbell, John Park, and Joanne Dunn of FTI Consulting were appointed as Receivers and Managers of the aforementioned entities, pursuant to security interests in favour of Global Loan Agency Services Australia Nominees Pty Limited. This appointment follows the placement of the Companies, Coking Coal One Pty Ltd, Lenton Management and…

Del Monte Foods Inc. has filed for Chapter 11 bankruptcy protection. Best known for selling canned fruits and vegetables, Del Monte is a beloved brand in the US. Just last year, the privately held company was named one of America’s most trusted.

But the nearly-140-year-old business is in trouble and can’t repay its debts. Its best hope is to be sold under a court-supervised sale process, says Greg Longstreet, president and CEO of Del Monte Foods. “With an improved capital structure, enhanced financial position and new ownership, we will be better positioned for long-term success.”

What went wrong for Del Monte Foods?

Del Monte Foods has faced headwinds in recent times. CEO Longstreet cites challenges “intensified” by a…

The Todd Creek Farms subdivision in Brighton on Friday, Aug. 2, 2024. (Photo by Hyoung Chang/The Denver Post)

A homeowners association in Brighton has gone bankrupt while trying to fend off accusations that its board president funneled a landscaping contract to his own company.

Todd Creek Farms, which has 370 lots across 750 acres, has attracted headlines for years because of its many HOA disputes, which came to include death threats. Those tussles have also taken a financial toll, leading the HOA to file for Chapter 11 on July 15.

“This lawsuit, initiated by a small group of homeowners in 2023, has already cost the HOA more than $800,000 in legal defense fees,” its board wrote in an HOA newsletter July 19.

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