Evergrande Has Defaulted On Its Debt
Evergrande, the embattled Chinese property developer, has defaulted on its debt, according to Fitch Ratings. From a report: The credit ratings agency on Thursday downgraded the company and its subsidiaries to "restricted default," meaning that the fi.....»»
Data breach at US debt collector exposes over a million users
After exposing sensitive user information, NCB offered two years of identity theft monitoring services, free of charge......»»
The U.S. Debt-Ceiling Crisis Could Harm Science for Years to Come
Investments in research and development are likely to drop—even if the worst-case scenario is avoided.....»»
Study: Spanish courts hand down milder sentences for rapes if they are committed by the victim"s partner or ex-partner
Just four years ago, the Spanish Supreme Court pointed out in a ruling that there is no such thing as a "conjugal debt." In other words, a woman is not obliged to satisfy her husband's sexual needs. It may come as a surprise that this point still nee.....»»
Carvana"s creditors offer to swap debt for equity, defer payment
Creditors holding about 90 percent of Carvana Co.'s bonds have been pitching the beleaguered used-car company on ways to pare down debt and improve liquidity, including a proposal for a debt-for-equity swap, according to people with knowledge of the.....»»
Auto supplier debt could drive more bankruptcies, consolidation, Deloitte study finds
Elevated supplier debt levels and inflationary pressures could soon lead to more bankruptcies and accelerate consolidation in the supply base, a new study found......»»
Most SaaS adopters exposed to browser-borne attacks
Even though the adoption of SaaS apps started more than ten years ago, CISOs are still finding it challenging to tackle the accumulated security debt. Significant deficiencies The prevalence of phishing and account takeover attacks has raised signifi.....»»
Rising debt costs crimp cash flow at automotive suppliers
Just as the supply chain is smoothing out and the cadence of production improves, automotive suppliers are now seeing red where balance sheets had long been stable. The soaring cost of money and tightening credit conditions are hurting liquidity,.....»»
China Evergrande"s EV unit may shut down without new funding
China Evergrande New Energy Vehicle Group Ltd. warned it may have to stop making electric cars if it can't obtain new financing, having delivered just 900 of its much-delayed flagship model......»»
When LLMs Collide With Software Development and Economics
Paul Kedrosky and Eric Norlin of SK Ventures wrote an interesting and important essay titled Society’s Technical Debt and Software’s Gutenberg Moment. The abstract follows. I encourage you to read the full essay. There is immense hyperbol.....»»
Rushed cloud migrations result in escalating technical debt
While 93% of CIOs expect an increase in IT budgets for 2023, 83% of them are feeling pressured to stretch their budgets even further than before, with a focus on managing cloud costs more efficiently and addressing the growing issue of technical debt.....»»
Car debt is piling up as more Americans owe thousands more than vehicles are worth
Chris Martin knew he needed a bigger car as the birth of his fourth child approached, but he and his wife were already $14,000 underwater on their two vehicles. So the couple proposed an unusual two-for-one deal with an Atlanta-area auto dealer in.....»»
Carvana debt bills come due with business "firmly in retreat;" shares plunge
The quarterly loss reported Thursday caps a disastrous year in which Carvana’s stock plummeted 98 percent, erasing almost almost $37 billion of market capitalization. Shares plunged nearly 20 percent in morning trading......»»
Tata reportedly to raise fund for debt reduction and EV business
As a leader in India's emerging EV market, Tata Motors is reportedly looking to raise funds for the EV expansion as the carmaker is grappling with debt reduction in the automotive business......»»
Fear of judgment is keeping consumers indebted, but a new study shows peer groups can help turn that around
Consumers who are honest about their level of debt and join peer-supported debt counseling groups are more likely to get their finances in order than those who keep it a secret, according to a new study in the Journal of Marketing Research co-authore.....»»
Governments target medical debt with COVID relief funds
Millions of Americans mired in medical debt face difficult financial decisions every day—pay the debt or pay for rent, utilities and groceries. Some may even skip necessary health care for fear of sinking deeper into debt......»»
Asset, wage protections may help debtors in a tough economy
States could take steps now to soften the impact of a recession by protecting residents with unsecured debt, according to a new study that reveals an inequitable patchwork of protections for Americans who are behind on their bills......»»
Jake Gyllenhaal goes behind enemy lines in first trailer for Guy Ritchie’s The Covenant
Jake Gyllenhaal is a soldier on a mission to repay a debt in the first trailer for Guy Ritchie's The Covenant. .....»»
Research demonstrates need for student loan policies that encourage college enrollment
On February 28, the Supreme Court of the United States will hear arguments in two cases challenging the legality of the Biden administration's student loan debt relief program, which, if it prevailed, would cancel about $400 million in debt for about.....»»
How rising household debt could slow UK labor strikes this year
After decades of declining real wages and deteriorating working conditions, strike activity has spiked over the last year, particularly in the United Kingdom. From nurses and teachers to railway and postal workers, employees are demanding wage increa.....»»
Economist examines US debt limit impact
It's not exactly comforting that the United States is running up against its debt limit, as officials announced this week, nor is there immediate cause for concern for the average taxpayer, says University of Michigan economist Daniil Manaenkov......»»