UK money management app Pariti has formed a referral partnership with P2P financing outfit Zopa to help users swap out their credit card debt for a consolidation loan. The Pariti app connects to a users existing bank accounts, analyses their spending history, and helps them set a target for improvement. The startup, which claims 70,000…
DetailsHouse price growth slowed in August but buying a property was still 6.9 per cent more expensive than a year ago, new figures show. The Halifax, part of Lloyds Banking Group, said that the average home in the UK cost £213,930. Prices in the three months to the end of August were 0.7 per cent…
Details©AFP Dubai’s skyline, including the Burj Khalifa The United Arab Emirates is set to enact a long-awaited bankruptcy law that could protect executives at failing businesses from criminal prosecution if they enter insolvency. Under existing regulations it is difficult to liquidate companies, while individuals can face criminal action if they default on debt, causing expatriates…
Detailsby Lamiat Sabin YOUNG adults renting their homes and working in insecure jobs are most likely to struggle with debt, a charity said yesterday as it reported receiving a record number of cries for help. A total of 313,679 people with unmanageable money problems sought advice from StepChange Debt Charity between January and June, which…
Detailsby Lamiat Sabin YOUNG adults renting their homes and working in insecure jobs are most likely to struggle with debt, a charity said yesterday as it reported receiving a record number of cries for help. A total of 313,679 people with unmanageable money problems sought advice from StepChange Debt Charity between January and June, which…
DetailsTotal buybacks and dividends in the S&P 500 equal about 128 per cent of annual earnings this year, the most on record outside the financial crisis, according to an August report by Barclays Capital. Dennis Brack by Oliver Renick Little by little, the corporate cushion is shrinking. Pressured by a year-and-a-half of weakening profits and…
DetailsHCC currently has over Rs 3,200 crore tied up in arbitration, and with the new norm, the company can get about Rs 2,400 crore (75 percent of Rs 3,200 crore) freed immediately. The company is also confident that within the next 12 months, additional claims worth Rs 5,000 crore would be settled. Reliance Infrastructure ltd.,…
DetailsLenders to Essar Steel will be meeting on Wednesday to discuss restructuring of company’s long-term debt of Rs 40,000 crore. The meeting will discuss various options including conversion of portion of loan into instruments carrying specific interest rates. The proposal coming up for discussion has been on the table for the…
DetailsThe UAEs new federal insolvency law is expected to be receive final approvals “within weeks”, coming into effect from early 2017, according to Obaid Humaid Al Tayer, the Minister of State for Financial Affairs. The new law, approved by the UAE cabinet on Sunday, creates mechanisms for insolvent companies to avoid bankruptcy and liquidation, modelled…
DetailsA MAN last year found to have defamed Gwent AM Mohammad Asghar has been declared bankrupt. Mohammad Hayat was ordered to pay £45,000 to the South Wales East assembly member after he circulated a dossier containing false claims against him. Mr Hayat was also ordered to pay the same amount to Mr Asghar’s co-claimant Abdul…
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