John McDonnell has said the UK is in the grip of a personal debt crisis with levels of unsecured borrowing predicted to hit a record of £19,000 per household by the end of this parliament. The shadow chancellor said the increase in debt, to more than £14,000 per household this year, was alarming. Analysis from…
DetailsBanks will be pressed to take stakes in family homes next year in swaps for mortgage debt as part of a push to resolve some of the most distressed personal insolvency cases. The first cases involving the use of so-called debt-for-equity swaps are expected to be decided by the courts in 2018 as the little-known…
DetailsA Rockingham security company has been forced to repay more than $200,000 to its employees after under-paying them for just over 12 months. Sureguard Security Pty Ltd landed in the Federal Court of Australia over the underpayments, and was fined last week for the offences which affected 22 employees. A security company has been forced…
DetailsLONDON: Barclays expects to take a writedown of about £1 billion ($1.34 billion) on its annual post-tax profit as a result of the US tax overhaul, the bank said in a statement on Wednesday.The reform to the tax system signed into law by President Donald Trump on Dec. 22 will force the British lender to…
DetailsMs Markle joined the Queen and the rest of the Royal family at Sandringham on Christmas Day, and was seen walking arm-in-arm with the Prince to the service at St Mary Magdalene Church. Prince Harry said that the family “loved having her there”, adding that they had “great fun” staying with the Duke and Duchess…
DetailsBy Tom Arnold DUBAI (Reuters) – A Saudi Arabian businessman whose family’s commercial empire is involved in a multi-billion dollar debt dispute has been released from detention in the kingdom’s Eastern Province, according to sources familiar with the matter.Abdulaziz al-Sanea’s release comes as the government steps up efforts to find a company to run a…
DetailsThe last week saw gambling industry players Penn National Gaming Inc. PENN and Boyd Gaming Corporation BYD announcing buyouts. Melco Resorts & Entertainment Limited MLCO announced the launch of a luxury hotel brand, NUWA. Week’s Most Important Stories in Detail Penn National agreed to buy Pinnacle Entertainment Inc. (PNK) for $1.87 billion in cash and…
DetailsThe last week saw gambling industry players Penn National Gaming Inc. (PENN – Free Report) and Boyd Gaming Corporation (BYD – Free Report) announcing buyouts. Melco Resorts & Entertainment Limited (MLCO – Free Report) announced the launch of a luxury hotel brand, NUWA. Weeks Most Important Stories in Detail Penn National agreed to buy Pinnacle…
DetailsITT Inc.ITT has managed to impress investors with its recent winstreak, as earnings have trumped estimates in the four trailing quarters. The company expects to continue earnings momentum on the back of strong productivity, business streamlining and cost containment measures. ITT’s performance has reflected well on share price, exhibiting investor optimism. The company’s shares have…
DetailsMore than 8,600 employers nationwide spent part of November and December looking for a new workers compensation insurer. The need for replacement coverage came after the Florida Department of Financial Services declared insolvent and subsequently took over Fort Lauderdale, Florida-based Guarantee Insurance Co. An article about the proceedings was the ninth most read Workers Compensation…
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