State-Owned Firms Resist Pressure to Help Banks With Bad Debt – The Wire

Share this: Prime Minister Narendra Modi listens to finance minister Arun Jaitley during the Global Business Summit in New Delhi January 16, 2015. Credit: Reuters/Anindito Mukherjee Indias government is pushing state-owned steel, power and shipping firms to take over assets of private companies that have defaulted on loans, but faces resistance from them, leaving it…

Payday loan companies ‘hounding’ homeless teenagers and pushing them into debt, charity warns – The Independent

Unscrupulous payday loan companies are pushing debt onto homeless teenagers including those with learning difficulties, and hounding them for repayment, a charity has warned. A 19-year-old with learning difficulties was among those bombarded with aggressive text messages demanding he pay up, the youth homelessness charity Centrepoint said. Despite Centrepoint staff estimating that the Bradford teenager had…

Greek debt relief plan said to entail 33 billion euro bank bond swap – The Sydney Morning Herald

Greece’s battered banks are being asked to swap about 33 billion ($47 billion) in floating-rate bonds for 30-year, fixed-rate securities under a euro-area plan to shield Athens from future interest rate increases, three people with knowledge of the matter said. The swap is part of a package of debt-relief proposals for Greece to be presented…

Gov’t vows to speed up corporate restructuring – Korea Times

The government will order three warships worth 3.2 trillion won ($2.7 billion) next month to help shipbuilders survive plunging global demand. It also vowed to prepare detailed action plans to strengthen the competitiveness of the shipbuilding, shipping, steel and petrochemical industries. “Corporate restructuring is a difficult process that takes a long time. We can reach…

Aussie Unis Hit Back At Government’s HELP Debt Proposals: Find Out What Yours Had To Say – Student Edge (blog)

Back in May, the Governments offered some suggestions to cut student debt from its current standing at $42 billion. They included lowering the individual HELP repayment threshold from $54,126 to around $40,000 and conducting a household means test (incorporating not just your income but potentially those you live with, such as parents or partners) to…