Households have too much debt and the RBA might have to cut interest rates up to three times to ward off a dramatic de-leveraging event in the economy. Credit Suisse strategist Damien Boey argues the output gap in the economy is widening at a time when households are past the “break-even” level of leverage. In fact, at a…
European creditors have pulled a recently announced debt relief package for Greece in protest at subsequent budget spending measures announced by Athens. Greek stocks fell sharply and the governments borrowing rates jumped higher as investors fretted over a potential flare-up in the countrys bailout problems and the possibility of early elections in the country. The…
ATHENS European creditors on Wednesday pulled a recently announced debt relief package for Greece in protest against subsequent spending measures announced by Athens. Greek stocks fell sharply and the government’s borrowing rates jumped as investors fretted over a potential flare-up in the country’s bailout problems and the possibility of early elections in the country.…
Trey Hollingsworth might originally be from Tennessee, a reader writes, but he has created hundreds of Hoosier jobs.(Photo: David Snodgress/The Herald-Times via AP) WASHINGTON Incoming Indiana Congressman and multimillionaire Trey Hollingsworth is asking his new colleagues for donations to repay nearly a quarter million dollars he owes to his pollster and other political consultants. Hollingsworth,…
Mr Packer, who owns 48 per cent, will get an immediate cash injection of $240 million from the special distribution. Justin Chin James Packer’s Crown Resorts has capped off an annus horribilis by canning its Las Vegas casino project and agreeing to sell a portion of its shares in Macau operator Melco Crown back to…
Image copyright Reuters Image caption A Greek pensioner at a protest against pension cuts in Athens last month The Greek Prime Minister Alexis Tsipras has refused to back down over his plans to give poor Greek pensioners a pre-Christmas bonus. A government official said Mr Tsipras would ask parliament on Thursday to approve the payment,…
By: AP | Athens | Published:December 15, 2016 4:09 am Workers in the countrys health sector staged a protest against governments planned reforms which will affect their sector. (Source: AP) European creditors on Wednesday pulled a recently announced debt relief package for Greece in protest at subsequent budget spending measures announced by Athens. Greek stocks…
A new report has found almost 2,000 debtors were helped by the Insolvency Service of Ireland (ISI) last year. That figure is an increase of 70% on the numbers helped in 2014. The ISI says it helped return them to solvency and secure permanent debt solutions. During 2015, the ISI received 2,028 applications, 1,371 protective…
Robert Steven Pacific T & R’s plant at Miro St, Taupo. A large Taupo employer has gone into liquidation weeks before Christmas, with all employees losing their jobs. Pacific T&R opened its Miro St plant in February 2015. It employed 44 people. The privately-owned company was breaking new ground; extracting rosin from pine tree stumps, which are…
A transport company and milk processors Warrnambool Cheese and Butter (WCB) and Tatura Milk are among unsecured creditors, owed money by failed Victorian broker, National Dairy Products. NDP administrators have told unsecured creditors they could expect as little as five cents in the dollar, under a deed of company arrangement (DOCA). In a letter to…