A grace period designed to save businesses from going under during the coronavirus pandemic is being extended until the end of the year. Temporary relief measures for businesses in financial distress were due to expire in less than 30 days. Treasurer Josh Frydenberg and Industrial Relations Minister Christian Porter confirmed the insolvency and bankruptcy protections…
DetailsRBI set to announce one-time loan restructuring guidelines soon |  Photo Credit: BCCL New Delhi: The Reserve Bank of India is set to announce the financial parameters. In his interview with CNBC Awaaz, RBI Governor Shaktikanta Das said that banks can extend the loan moratorium by 3, 6, or even 12 months under the one-time restructuring.…
DetailsFinance Minister Nirmala Sitharaman last week asked banks and NBFCs to roll out one-time loan restructuring scheme for Covid-19 related stress by September 15 TopicsIndian Banks|Bank loans|Aviation industry Banks may restructure loans of more than Rs 10 trillion largely attributed to 5-6 critical sectors, including aviation, commercial real estate and hospitality, that have been severely…
DetailsMichael Jordans Hornets have fired first-season radio commentator John Focke for mistakenly tweeting the N-word when he thought hed typed Nuggets into his cell phone. Focke was typing on the fly, trying to keep Hornets fans on top of an NBA game. Unless Jordan and company believe the preposterous that out of the blue, for…
Detailsarticle How personal loans and 0% APR credit cards can get you out of high-interest credit card debt and back in good financial shape. (iStock) Massive amounts of credit card debt can be nerve-racking. You may have enough income each month to pay your mortgage, utilities, and other necessities, but little left to pay off…
DetailsThe US government’s war against the coronavirus is imposing the heaviest strain on the Treasury since America’s drive to defeat Nazi Germany and imperial Japan three-quarters of a century ago. The Congressional Budget Office has warned that the government this year will run the largest budget deficit, as a share of the economy, since 1945,…
DetailsMoratorium borrowers need a break 30% of SMEs under the scheme are unable to make repayments An 80%-off sale at Baan Lae Suan Fair Midyear 2020 underscored the struggles of many businesses. (Photo by Somchai Poomlard) Some 30% of borrowers entering the debt moratorium scheme are not expected to be able to service their debts…
DetailsThe Australian Securities and Investments Commission is monitoring companies linked to the former director of a failed Coast-based training firm which pocketed almost $80 million in government funding before its collapse. The advice was given to Fairfax MP Ted O’Brien, who had sought further information from the regulator about its treatment of SmartCity Vocational College,…
Details4th September, 2020 by Rupert Millar Berry Bros & Rudd has announced that following an internal review it will be changing the trade and business model of its wholesale arm Fields, Morris & Verdin. Over the course of this week several other merchants have announced the addition of former FMV-distributed wineries to their own portfolios.…
DetailsKolkata: ITC chairman Sanjiv Puri did not rule out the possibility of restructuring the company or buyback of shares to unlock shareholders value at the annual general meeting (AGM) of the conglomerate on Friday.Puri also made it clear that he is keen to see that the new FMCG brands of tobacco-to-FMCG-to-hotel major make significant international…
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