Category: Debt
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The market is flashing signs of a dangerous debt bubble with losses that could be ‘contagious,’ economist says
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Getty Images; Alyssa Powell/PA The market faces the risk of a harmful debt bubble, which could spread losses across the financial sector. Economist Dambisa Moyo warns against stocks being overvalued due to AI hype. Moyo highlights the risk of highly leveraged non-performing assets, similar to the 2008 crisis. The stock…
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India’s Adani Enterprises eyes first-ever public debt issue in coming weeks, sources say By Reuters
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By Bhakti Tambe MUMBAI (Reuters) – India’s Adani Enterprises, the flagship of the Adani group, plans to launch its first-ever public bond issue in the coming weeks to raise up to 6 billion rupees ($71.7 million), people familiar with the matter said on Tuesday. “The company has already filed a…
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Westwater secures offtake agreement, eyes debt financing By Investing.com
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Westwater Resources Inc. (NYSE American: NYSE:) has announced a significant milestone in its latest earnings call, securing a second multi-year offtake agreement with Fiat Chrysler Automobiles (FCA), part of Stellantis (NYSE:) Group, for the sale of Coated Spherical Purified Graphite (CSPG) from its Kellyton Graphite Plant. This agreement ensures that…
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Treasury to spend Sh69bn on July external debt repayments
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Kenya plans to spend about $533 million (Sh69 billion) on external debt servicing this month, putting fresh pressure on foreign exchange reserves recently replenished with proceeds from a World Bank loan. Public debt data compiled by the Bretton Woods Institution shows that semi-annual payments to China for loans contracted since…
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Atos secures funding of $1.82 billion to restructure its debt By Reuters
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French IT company Atos said on Monday it had secured 1.675 billion euros ($1.82 billion) in financing to restructure its debt through a closing agreement with a group of banks and bondholders representing more than 50% of its creditors. Atos said the remaining creditors have until July 22 to participate…
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Bitcoin mining company TeraWulf pays off debt, eyes AI expansion
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Bitcoin mining company TeraWulf Inc. has paid off its remaining $77.5 million loan ahead of schedule, eliminating all of its outstanding debt. The move gives the company greater financial flexibility to take advantage of growing demand for energy infrastructure, particularly to power AI-generated technology. He said on Tuesday It plans…
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Bitcoin mining company TeraWulf pays off debt, eyes AI expansion
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Bitcoin mining company TeraWulf Inc. has paid off its remaining $77.5 million loan ahead of schedule, eliminating all of its outstanding debt. The move gives the company greater financial flexibility to take advantage of growing demand for energy infrastructure, particularly to power AI-generated technology. He said on Tuesday It plans…
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Kenya settles Sh72bn Eurobond debt balance with World Bank cash
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Kenya settled the balance of $560 million (Sh72 billion) of 2014 Eurobonds using part of the proceeds from a $1.2 billion World Bank loan, the Central Bank of Kenya said. The debt, which was due on June 14, was settled on Friday, along with the latest semi-annual interest payment of…
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Kenya settles Sh72bn Eurobond debt balance with World Bank cash
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Kenya settled the balance of $560 million (Sh72 billion) of 2014 Eurobonds using part of the proceeds from a $1.2 billion World Bank loan, the Central Bank of Kenya said. The debt, which was due on June 14, was settled on Friday, along with the latest semi-annual interest payment of…
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Parliament wades into secret public debt boss hiring saga
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The National Assembly directed the Treasury to appoint a new director general for the public debt management unit within 60 days amid secrecy over the hiring process that began in January. The Treasury and the Public Service Commission, which oversees the recruitment of civil servants, are guarded over the position…
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Ukraine’s debt woes during wartime By Reuters
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Written by Rodrigo Campos NEW YORK (Reuters) – Ukraine has suffered a setback in its quest to complete the outlines of a debt restructuring before a two-year payment freeze agreed to by private holders of about $20 billion in Eurobonds maturing expires at the end of August. The government announced…
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I have $68,000 in credit-card debt and $50,000 in a 401(k). How can I dig myself out of this trap on a $55,000 salary?
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“Can I live off my paycheck if I don’t have any credit card payments to worry about?” (Subject image model). -Getty Images Dear Quentin, I do not live extravagantly by any means. I have $68,000 in credit card debt on four cards, and I’m making the minimum payments. Payments add…
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Notorious conspiracy theorist Alex Jones’ assets will be sold to pay a $1.5 billion debt to families of the Sandy Hook massacre victims
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A federal judge on Friday ordered the liquidation Conspiracy theorist Alex Jones “personal assets but dismissed his company’s separate bankruptcy case, leaving the future of his media platform Infowars uncertain as he owes $1.5 billion over his false claims that… Sandy Hook Elementary School shooting It was a trick. Judge…
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Treasury fears trouble with IMF, debt risks
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The Treasury has intensified its pressure on Parliament to adopt punitive tax measures contained in the draft finance bill, saying it will help narrow Kenya’s budget deficit and reduce the desire to borrow. Principal Treasurer Chris Kipto said the higher taxes and new taxes proposed in the bill were needed…
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Nairobi Water eyes Sh2bn for pension debt
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The Nairobi City Water and Sewerage Company (NCWSC) has been given the green light by the Nairobi County Government to avail a Sh2.17 billion long-term business loan to settle outstanding pension debts and avoid mounting penalties. NCWSC, a wholly-owned subsidiary of the Nairobi County Government, owes money to the Local…
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Why Kenya trimmed appetite for IMF debt
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Kenya has cut its planned borrowing from the International Monetary Fund by 7.2 percent to 465.4 billion shillings ($3.6 billion) after a partial repayment of its first eurobond spooked global investors. This comes weeks after the size of the country’s budget support from the World Bank was reduced by 20…
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Virtu Financial Seeks $500 Million in Debt Restructuring
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Virtu Financial announced that it is seeking $500 million in financing to restructure primary debt. According to the company, the first lien notes are intended to improve Virtu Financial’s financial position by repaying existing debt and positioning the company for growth. Virtu restructures debt According to the press release, Virtu…
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Suzano eyes debt financing for potential International Paper deal
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Investing.com – Brazilian pulp and paper giant Suzano (BCBA:) is reportedly looking to raise up to $19 billion in debt to acquire International Paper (NYSE:), according to Bloomberg. Jefferies analysts expect a potential all-cash offer for the IP in the range of $54-57 per share, a figure consistent with previous…
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SEC to Pay $1.8 Million in Fees Following Dismissal of Case Against Debt Box
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The US District Court for the District of Utah dismissed the SEC’s case against Digital Licensing, which operates under the name Debt Box. The judge also ordered the SEC to pay approximately $1.8 million in attorney and receivership fees. The SEC ordered him to pay $1.8 million in fees In…
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British Businesses Face £42bn Debt Crisis Post Ultra-Low Rates Era
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UK businesses are bracing for a debt crisis as higher interest rates are expected to cost an extra £41.7bn by the end of the decade. As cheap loans expire, borrowing costs are expected to rise, significantly impacting the economy. According to consultancy Baringa, companies will face an average annual increase…