Moves to crackdown on phoenixing, long a plague on the construction industry, have been branded a toothless tiger that dont go far enough. Under the practice, directors transfer the business of an existing company to a new company and leave debts in the old company. The directors then abandon or liquidate the first company to…
DetailsSubscribe Be the first with the news that moves the market Fintech IOUpays (IOU) parent company, IOUpay Limited, enters voluntary administration due to outstanding debts and suspected fraud The companys CFO is under investigation for allegedly misappropriating up to $7 million in company funds Non-bank lender, Finran, offered to bail out IOU, but later withdrew…
DetailsAfter the release of March inflation data, we now know that student HELP debts will rise by 7.1 per cent on June 1 this year. It’s the biggest rise in decades, and it’s taken many Australians with student debt by surprise including recent graduate Naomi Lewis. The 23-year-old public relations specialist has a HELP debt of about $22,000…
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DetailsCLEVELAND Some people living in the city of Cleveland will soon see significant relief from their medical debts. City Council approved $1.9 million of federal money to help wipe about $200 million in debts. Heres how that will work, what you should expect in the mail, and what concerns there are about using federal money…
DetailsWASHINGTON, April 25 (Reuters) – World Bank Chief Economist Indermit Gill is calling for new approaches to address the mounting debt crisis facing many countries, including steps to factor domestic borrowing into assessment of a country’s debt sustainability. Gill told Reuters the Common Framework set up by the Group of 20 major economies to help…
DetailsCAMBRIDGE The world is in the midst of a debt crisis. A recent report estimates that 61 emerging-market and developing economies nearly one-third of the International Monetary Funds member countries are facing debt distress. The G20s Common Framework for Debt Treatments, which aims to help low-income countries restructure their sovereign debts, was supposed to prevent…
DetailsZoe thought 2023 would be the first year shed make a dent in her $123,000 student debt. The arts law graduate from Victoria has been working full-time in the public service sector for five years. In that time, her Higher Education Loan Program (Help) previously the Higher Education Contribution Scheme (Hecs) hasnt shifted, even though…
DetailsST. PAUL, Minn., April 25, 2023 /PRNewswire/ — 3M (NYSE: MMM) today reported first-quarter 2023 results. “In the first quarter we continued our relentless focus on serving customers and aggressively managed costs,” said 3M chairman and CEO Mike Roman. “Market trends were as we expected, and we made changes to improve our operations and position…
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