The Australian Financial Security Authority (AFSA) is responsible for managing the application of bankruptcy and personal property securities laws through the delivery of high-quality personal insolvency and trustee, regulation and enforcement, and personal property securities services. We ensure confidence in Australias personal insolvency and personal property securities systems, and manage the proceeds of crime through…
CEO of the Victorian Chamber of Commerce and Industry, Paul Guerra, has come up with an idea for the federal government to help tackle Victorias debt crisis. Australia is set to record its first surplus in 15 years, which has been revised up to $22.1 billion, with Mr Guerra telling Ross and Russel what the…
By Sophie Madden BBC News, West Midlands The leader of Birmingham City Council has said it is faced with “stark choices” as councillors approved a financial recovery plan. The authority declared itself essentially bankrupt earlier this month in part over a 760m equal pay bill. During Monday’s four-hour, often fractious meeting, councillors took turns to…
The author is an analyst for NH Investment & Securities. He can be reached at [email protected] — Ed. A change in business structure to electrification is expected at Hyundai Wias auto parts division on orders for thermal management parts. Elsewhere, having completed restructuring, the machinery division should see a full-scale strengthening in top- and bottom-line…
Credit card interest rates are the highest we’ve seen in years, with a national average APR of about 24% as of Sept. 2023. This has made the cost of credit card debt even more expensive, and with the average credit card debt among cardholders with unpaid balances sitting at $7,279, it has caused a financial…
Reuters. Citigroup (NYSE:)’s CEO, Jane Fraser, has initiated a significant restructuring of the bank, marking the most substantial overhaul in 15 years. The plan aims to shift the bank’s focus from geographical divisions to its individual business units. The restructuring strategy has been met with mixed reactions internally due to uncertainty surrounding job cuts and…
New Delhi: The National Company Law Appellate Tribunal (NCLAT) on Monday deferred hearing in a plea in the insolvency case of SREI Infrastructure to 4 October after the company sought time to submit a rejoinder to a response by the Reserve Bank of India (RBI). Adisri Commercial, former promoter of SREI Infrastructure, had appealed to…
Sep 25, 2023 6.13pm Star Entertainment, the embattled operator of casinos in Sydney, Brisbane and the Gold Coast, is raising $750 million at a significant discount but says it will not proceed with the sale of any of its assets. The company has also secured $450 million in new debt facilities from Barclays and Westpac…
Reuters. Star Entertainment Group Ltd., a leading Australian casino operator, has initiated a trading halt for its shares until Wednesday, following regulatory scrutiny impacting the nationwide gambling sector. The company’s financial standing has been influenced by these regulatory actions, leading to a reassessment of its financial strategy. The pause in trading is in anticipation of…
The Star Entertainment Group Ltd (ASX: SGR) share price isn’t moving this morning after the casino business announced that trading in its shares was going to be halted. This is the business that has casinos in Brisbane, Gold Coast and Sydney. What’s going on with the Star Entertainment share price? The company announced to the…