Viral claim misleads on debt collection, harassment
The claim: It is illegal for collection agencies to buy debt and ‘come after you’ if you send a cease-and-desist letter A March 27 Facebook post (direct link, archive link) offers advice for consumers facing debt collection. “It is illegal for a collection agency to buy your debt and come after you for it,” text […]
Debt helpline calls surge amidst rising cost of living pressures
With cost of living rising in Australia, there has been a increase of calls to the debt helplines. The National Debt Hotline and the Small Business Debt Hotline experienced a 17 per cent increase in calls in February 2024 compared to 2023. Financial Counselling Australia Co-CEO Peter Gartlan told Jamie Burnett on Perth Live, “In WA itself, […]
CBA, NAB business bankers want to take more risk as competition mounts
“I think there is more we can do for the middle-market around cash flow lending, and I think it is moving … in a rising rate environment, you know, people are just being a little more cautious,” Ms Rynski said. Tackling the competition Australia’s major banks are faced with Macquarie’s growing force in business banking. […]
Mighty Craft in last ditch sell-off to get debt burden under control
“We’re open to anything that would help maximise returns to shareholders.” Better Beer chief executive Nick Cogger said he was “waiting to see what happens” with Mighty Craft’s restructure. Mr Cogger owns 18 per cent of Better Beer. Mighty Craft said on Wednesday it would use about half of the proceeds of the sale of […]
These 4 Measures Indicate That NVIDIA (NASDAQ:NVDA) Is Using Debt Safely
The external fund manager backed by Berkshire Hathaway’s Charlie Munger, Li Lu, makes no bones about it when he says ‘The biggest investment risk is not the volatility of prices, but whether you will suffer a permanent loss of capital.’ When we think about how risky a company is, we always like to look at […]
Country Garden: China property giant suspends shares in Hong Kong
By Mariko Oi Business reporter 2 April 2024, 05:58 BST Image source, Getty Images Image caption, Country Garden said last week it would delay is annual earnings report as it faces a winding-up petition Crisis-hit Chinese property developer Country Garden has suspended trade in its shares on the Hong Kong Stock Exchange after delaying the […]
These 4 Measures Indicate That Devon Energy (NYSE:DVN) Is Using Debt Reasonably Well
Legendary fund manager Li Lu (who Charlie Munger backed) once said, ‘The biggest investment risk is not the volatility of prices, but whether you will suffer a permanent loss of capital.’ When we think about how risky a company is, we always like to look at its use of debt, since debt overload can lead […]
Debt funds dominate China’s first-quarter sales as monetary easing hopes trigger spectacular bond rally
Bond funds dominated new mutual-fund issuances in the first quarter in China, as policy loosening hopes drove investors to haven assets as the nascent recovery in stocks remains fragile after an unprecedented three years of losses. Fixed-income products made up three quarters of the 243.4 billion yuan (US$33.6 billion) mutual-fund issuances in the first three […]
ATO urged to wipe ‘robotax’ debt interest
Payne likened the debt recovery effort to robo-debt in the way the communication came as a shock to taxpayers. “Because there was a void of information about what can you do and where can you go for help, people will fill that void with their own catastrophes,” she said. The ATO resumed chasing uneconomical-to-pursue debts […]
Tech firm on brink of collapse owing $37m
An Australian tech company backed by one of the largest banks is on the brink of collapse after appointing administrators with debts of nearly $40 million. Thousands of Aussie companies have disappeared over the past year and experts say it’s only going to get worse moving forward. Plutora Pty Ltd went into voluntary administration in […]