THOUSANDS of university students and graduates had to start paying back their debts sooner than expected on July 1 and the rules might change again if a bill passes the Senate. With the new financial year having begun, anybody earning $52,000 or more a year will have to start paying off their student debts referred to…
DetailsMelbourne builder Bayside Construct, which won a national award last year for the country’s best medium-rise residential development, has collapsed under debts of about $20 million. Cor Cordis administrator Sam Kaso made 49 people redundant from the Port Melbourne-based company upon being appointed as voluntary administrator on Thursday and has retained seven staff to help…
Details“We have seen a significant contraction in the number of bike share operators in Sydney, but that’s not to say the business model is dead,” she said. Reddy Go sent a text message to members last week which read: “Due to regulatory factors, we are currently restructuring our business model. Ofo share bikes said it…
Details“We have seen a significant contraction in the number of bike share operators in Sydney, but that’s not to say the business model is dead,” she said. Reddy Go sent a text message to members last week which read: “Due to regulatory factors, we are currently restructuring our business model. Ofo share bikes said it…
DetailsThe future of dockless share bikes in Australia is in doubt, with at least one company announcing it is ceasing operations here, and the future of two more is under a cloud. Several companies have faced a backlash from local residents and councils in several capital cities. The bright yellow and red bikes of…
DetailsIn an ongoing dispute between distraught homebuyers and Gayatri Hospitality & Realcon Ltd, a realty firm in Noida, the former claim that the latter has not so much as laid a brick in Gayatri Aura, a project it launched way back in 2011. The company has been booked for cheating, fraud, and…
DetailsThe long wait is finally over. More than a month after classifying home buyers as financial creditors, the insolvency regulator IBBI has now spelt out the mechanism, albeit indirectly, through which these home buyers voice would be heard in the committee of creditors. The Insolvency and Bankruptcy Board of India (IBBI) has made changes to…
DetailsAMERICAS newest game show is causing a stir, with a number of people labelling it dystopian. The show pits recent university graduates against each other in a traditional trivia game show format and the winner gets their student debt paid off kind of like a financial Hunger Games for struggling anthropology graduates. The level of…
DetailsLess than one in 10 (6%) of respondents state that their employer provides debt consolidation via workplace lending and counselling services as part of their employee benefits package, according to research by Thomsons Online Benefits. It surveyed 2,000 UK employees working in private sector organisations with more than 500 staff, and also found that 10%…
DetailsEight years after it took over regulation of consumer credit, the Australian Securities and Investments Commission last week announced it had discovered some people have problems handling credit cards. That tells you more about ASIC than credit cards. Having finally stumbled over what everyone with a vague interest in consumer finance already knew, our dopiest…
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