Stockholders in financially troubled Spirit Airlines, the South Florida-based discount carrier, would see their shares canceled under a potential debt restructuring agreement that has been under negotiation between the airline and its bondholders, the company says.

As a growing population financed more costly purchases, total debt rose. But income rose even faster in recent quarters. By Wolf Richter for WOLF STREET. Total household debt outstanding ticked up by $71 billion in Q3, or by 0.57%, from Q2, to $17.9 trillion, according to the Household Debt and…

The University of Ibadan College Hospital has been disconnected from the national grid over an outstanding N400 million debt. The Ibadan Electricity Distribution Company said the disconnection became unavoidable following the failure of UCH to pay the debt. Speaking with our correspondent, the spokesperson of IBEDC, Busolami Tunwase, said the university did not fulfil its

Some of the lenders had sought the tribunal’s approval to start proceedings under IBC for recovering dues from the 58 IL&FS entities

The cabinet has approved the "Job Creation and Career Building" loan programme worth a total of 15 billion baht, primarily aimed at supporting street vendors and hawkers to help reduce their informal debt.

Vanavond in ‘De tafel van Gert’: wat als je de diagnose van Alzheimer hebt en de juiste medicatie bestaat maar niet verkrijgbaar is?  Het Nieuwsblad

David B. Rivkin Jr. and Lee A. Casey explain why it's impossible for the United States to default on its debts.

Those who warn of default confuse debt payments with other spending obligations. "A failure on the part of the United States to meet any obligation, whether it's to debt holders, to members of our military or to Social Security recipients, is effectively a default," Treasury Secretary Janet Yellen said in January.

That's nonsense. Authorized and even appropriated spending isn't "the public debt." For constitutional purposes, promised benefits from Social Security, Medicare and other entitlements aren't even property, as the Supreme Court held in Flemming v. Nestor (1960), and Congress has as much authority to reduce them as to increase them. When lawmakers were drafting the 14th Amendment, they revised Section 4's language to replace the term "obligations" with "debts." If the Treasury ran out of money, the constitutional obligation to pay bondholders would trump all statutory obligations to spend.

Ms. Yellen also said that "Treasury's systems have all been built to pay all of our bills when they're due and on time, and not to prioritize one form of spending over another." But as the Journal has reported, department officials conceded in 2011 that the government's fiscal machinery certainly could prioritize payments to bondholders, and the Federal Reserve prepared for such a contingency. There's no question enough money would be available: The government collects roughly $450 billion a month in tax revenue, more than enough to cover the $55 billion or so in monthly debt service.

We've got plenty of money to make debt payments, but we may need to cut other spending to do it -- which we would be Constitutionally required to do.

(HT: Instapundit.)

Rising interest rates and high levels of corporate debt have lots of investors concerned. Should small businesses be worried?

The majority of small businesses (in most industries) are able to pay their bills on time. According to Experian/Moodys Analytics Main Street Report, overall delinquencies for businesses with fewer than 100 employees were slightly down in the third quarter of 2018. Credit utilization rates were also down slightly.

At the same time, that same research has found that rates for delinquencies of 31 to 90 days rose slightly. While it is not yet a cause for concern, the report points out that the period of consistent declines in delinquency rates for small businesses may be near its end.

complete article

After the pandemic knocked the wind out of our economy, recovery plans focused mainly on saving existing small businesses rather than breathing life into new ones. Yet entrepreneurship is critical to emerging from the Covid-induced recession. Startups drive almost all net new-job creation. They contribute disproportionately to innovation, breaking new ground while also spurring midsize and large companies to follow suit. And perhaps most important in the current climate, startups are well-positioned to respond to drastic changes in consumer and business behavior, recognizing and acting on opportunities born of adversity.

For aspiring entrepreneurs, student debt reduces the amount of cash avail­able for startups and affects their credit score, making business loans tough to secure. It also renders more daunting the prospect of failure, which increases risk aversion.

In the 1990s, three former Mossad agents try to work out what went wrong during their mid-60s mission in East Berlin to kidnap and bring to justice a very evil man. With Helen Mirren, Tom Wilkinson and Jessica Chastain. Now playing.

The Nigerian National Petroleum Corporation (NNPC), a state-owned entity, recently acknowledged its substantial debt of $6 billion to petrol suppliers. This admission, made in early September 2024, marks a significant development in the Nigerian oil industry, which has been grappling with various challenges. The debt revelation came after months of speculation and denials. The NNPC’s financial strain has been attributed to the gap between fixed pump prices and international fuel costs, exacerbated by the removal of fuel subsidies in 2023. This policy change led to a sharp increase in petrol prices, with motorists now paying over 45% more per litre. The financial burden has had a ripple effect on the NNPC’s operations and the broader oil industry. Suppliers have reduced the volume of petrol provided to the NNPC, resulting in a six-week-long petrol scarcity across Nigeria. This scarcity has caused significant disruptions in daily life and economic activities, highlighting the critical role of the NNPC in ensuring national energy security. Despite these challenges, the NNPC reported record crude oil sales of N14 trillion ($8.6 billion) in 2023, a substantial increase from the previous year. However, the company’s ambitious target of achieving two million barrels per day of crude oil production...

Music Clothing and Rock T-Shirt's. EBTM Voucher

(Telecompaper) US service provider Ritter Communications has closed an upsized debt refinance worth USD 590 million...

2024年10月31日、電子コミックのプラットフォームWEBTOONを提供するWEBTOON Entertainment社が、触って楽しむことのできる電子コミック（tactile digital comics）を韓国のベンチャー企業Dot Inc.と共同で作成したと発表しました。

発表によると、これは視覚障害者向けに画像を点字に変換して表現するDot Inc.の技術を活用した取組です。今回作成されたのは電子コミックシリーズ“Yumi’s Cells”と“Hooky”の2タイトルで、Dot Inc.の点字ディスプレイDot Padで利用可能となる予定とあります。

WEBTOON Entertainment and Dot Inc. Release World’s First Tactile Digital Comics（WEBTOON, 2024/10/31）
https://about.webtoon.com/press-release/164

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Fr. Stephen Freeman looks at the "burden" created by the emotional and spiritual debts of things that others have done to us and how they can be forgiven.

Fr. John Whiteford continues the discussion of the Lord's Prayer by looking at Matthew 6:12.

Fr. Ted speaks on the importance of forgiveness and reminds us of the huge debt we've been forgiven.

Fr. Apostolos talks about financial pressures, contentment, and priorities. "As we grow in contentment, and learn to resist the allure of the never-ending parade of consumer goods that we didn't know existed a moment ago, but somehow cannot now possibly live without, a new world of possibilities will emerge for us in the freedom that only Jesus Christ can give."

One of the main tasks in tax administration is debt management. The main goal of this function is tax due collection. Statements are processed in order to select strategies to use in the debt management process to optimise the debt collection process. This work proposes to carry out a data mining process to predict debts of taxpayers with high probability of non-payment. The data mining process identifies high-risk debts using a survival analysis on a dataset from a tax administration. Three groups of tax debtors with similar payment behaviour were identified and a success rate of up to 90% was reached in estimating the payment time of taxpayers. The concordance index (C-index) was used to determine the performance of the constructed model. The highest prediction rate reached was 90.37% corresponding to the third group.

Prince Andrew has realised genuine concerns amongst stake holders as he resists on giving up the Royal Lodge.

The Duke of York, who insists he will be able to manage the staggering maintenance cost of the Windsor abode, is questioned ‘where is the money...

Jason carried $100,000 of debt and felt as though he could barely breathe. That's when he followed a life-changing principle that led to a debt-free life and financial freedom. You can be free too!

When Karen and Scott got married, Karen had nearly $50,000 of non-mortgage debt. Scott, who was a Chicago firefighter at the time, jokingly referred to it as "a reverse dowry." Several years before meeting Scott, Karen had been through the breakup of a relationship she thought was headed toward marriage. "I decided that if I'm not getting married, at least I'm going to have a nice apartment. I can remember standing at the counter of a furniture store unrepentantly handing over my credit card. I...

Rhonda Bell dreamt of a better financial future. She felt stuck working two jobs with irregular hours. “And I had to do both jobs even to have just enough. I remember one time when I out of work; I just dug around my house for change ended, and I up finding like, in change, $13.76. I was able to buy groceries; I had no food. I just really wanted a career. I wanted the Lord to bless me with something stable.” When friends encouraged Rhonda to go into healthcare, she prayed about it. She believed...

Dear Dave, I have $11,000 in a mutual fund account that is not a retirement account. My wife has a retirement account through her job as a teacher, but I do not have one at all. We’re in Baby Step 2, so should we cash out the $11,000 in the investment account to help pay off debt? Chris Dear Chris, If this money is designated as non-retirement funds, I’d say go ahead and cash it out. Use the money to pay down debt, and continue to stay focused working the Baby Steps. Get that debt paid off,...

Washington — The Department of Labor has published a final rule intended to help its agencies, including OSHA, improve their collection efforts for citation penalties and other debts.

The post Listen for a moment. It’s time to cancel student debt. All of it. was curated by information for practice.

The post Debt in America was curated by information for practice.

City officials said the $40 million program will help alleviate medical costs for debt-strapped residents.

Vice President Kamala Harris’ unsuccessful presidential campaign ended with over $20 million in debt, a report has revealed, as the introspection following the 2024 presidential election continues. 

Ilgar Hajiyev, a developer of Accord Smart residential complex, accused of numerous crimes, including real estate scam, is facing another criminal case in Russia. Defrauded homebuyers are collecting signatures for a petition in their defense. These people, who paid their money for apartments in the Moscow region, Odintsovo сity district, but never received keys to their new homes, demand Hajiyev should be delivered to Russia to stand trial for fraud. Only 4 apartment buildings out of 12 that should have been commissioned in 2020 are built - with many violations. "Numerous violations were committed during the construction: façades are falling off, walls and decoration of public areas are crumbling, cardboard doors are already broken," the petition reads. The billion worth scam Hajiyev fled overseas with investors' money in January 2019. It was not only clients, but also business partners, whom Hajiyev scammed, including creditors of SDI Group. Apart from Accord Smart housing complex, subsidiaries of SDI Group were also developers of the Pirogovskaya Riviera residential complex in Mytishchi, the Moscow Region. The complex is being finished by another developer. Hajiyev started building the Pirogovskaya Riviera complex together with businessman Isai Zakharyaev, who later left the project, but never received money for his share. The head of SDI Group owes more than one billion rubles to the former partner. Another one billion Hajiyev siphoned off from the project developer Comfort Invest.

Global public debt may soon collectively catch up to the worldwide gross domestic product (GDP), likely matching it by 2030. New research from a Notre Dame economist suggests that this could happen even sooner, thanks to countries' hidden debts. This misreported debt can lead to higher interest rates for borrowers and lower recovery rates for lenders, suggesting indirect adverse effects on global financial stability and consumer welfare.

Kim Hyung-Il the leader of Northern American Business sector of Naver Webtoon, said, "We are happy to be recognized for our efforts to steadily promote webtoons to the U.S. market from the beginning.

Knowing the advantages and disadvantages of each bankruptcy option is the best way to plan effective debt relief.

Collaboration in Action: Debt Collection in the Digital Age Webinar

The Layton Law Firm in Charlotte is now offering free consultations to help individuals explore their Chapter 7 Bankruptcy options, providing a clear path to debt relief and a fresh financial start.

Medical Debt is the most common collection item on consumer credit reports

New Book Exposes Dysfunction of Student Loan System

Judge Paul Burmaster Provides Insight into Family Court Division of Assets and Debt in Divorce Proceedings

BrainVentures, founded in 2020, uses AI to automate webtoon translation and typesetting, cutting costs by 60%. Expanding to Japan and North America, the company partners with major platforms to improve global competitiveness in the webtoon industry.

This comprehensive program will cover all aspects of workers' compensation claims against uninsured employers from attorneys who represent injured workers, uninsured employers and the Uninsured Employers Benefits Trust Fund as…

Debt Distress and the Right to Food in Africa

More than half of low-income countries are at risk of debt distress or have already defaulted. The debt crisis, while exacerbated by recent crises, has been looming for several years. According to the United Nations, 3.3 billion people now live in countries that spend more on interest repayments than on education or health, and in […]

The post Debt Distress and the Right to Food in Africa appeared first on IFPRI.

There was one time the U.S. federal government stopped borrowing and paid off every penny of national debt. It did not end well. | Subscribe to our weekly newsletter here.

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We bring you two stories from The Indicator on the recent battles being fought in Congress. | Subscribe to our weekly newsletter here.

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We make a loan to the U.S. government, and it does not go the way we thought it would. Plus: the story of that one time the U.S. defaulted. Subscribe to our weekly newsletter here.

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Every year, the U.S. government spends more money than it takes in. In order to fund all that spending, the country takes on debt. Congress has the power to limit how much debt the U.S. takes on. Right now, the debt limit is $31.4 trillion dollars. Once we reach that limit, Congress has a few options so that the government keeps paying its bills: Raise the debt limit, suspend it, or eliminate it entirely.
That debate and negotiations are back this season. One thing that is in short supply, but very important for these negotiations, is good information. Shai Akabas, of the Bipartisan Policy Center, knows this well. Right now, he and his team are working on figuring out when exactly the U.S. government could run out of money to pay its obligations — what they've dubbed: the "X Date."
Shai is determined to help prevent the U.S. government from blowing past the X Date without a solution. But this year's debt-ceiling negotiations are not going very well. Which is daunting, because if lawmakers don't figure something out, the ramifications for the global economy could be huge.
So, how did Shai become the go-to expert at the go-to think tank for debt ceiling information? It started in 2011, back when he and current Chair of the Federal Reserve Jay Powell, armed with a powerpoint and the pressure of a deadline, helped stave off economic disaster.
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There's an estimated $195 billion of medical debt in America. But just because a medical bill comes in the mail doesn't mean you have to pay that exact price. In this special episode from our friends at Life Kit, you'll learn how to eliminate, reduce or negotiate a medical bill.

If you liked this episode, you can check out more Life Kit here. They have episodes on how to choose a bank, and how to save money at the grocery store.

This episode of Life Kit was produced by Sylvie Douglis. Their visuals editor is Beck Harlan, and their digital editor is Danielle Nett. Meghan Keane is their supervising editor, and Beth Donovan is their executive producer.

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What's going on with consumers? This is one of the trickiest puzzles of this weird economic moment we're in. We've covered a version of this before under the term "vibecession," but it's safe to say, the struggle is in fact real. It is not just in our heads. Sure, sure, some data is looking great. But not all of it.

What's interesting, is exactly why the bad feels so much worse than the good feels good. Today on the show, we look into a few theories on why feelings are just not matching up with data. We'll break down some numbers and how to think about them. Then we look at grocery prices in particular, and an effort to combat unfair pricing using a mostly forgotten 1930's law. Will it actually help?

Today's episode is adapted from episodes for Planet Money's daily show, The Indicator. Subscribe here.

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