Category: Debt
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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…
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Stocks are ‘going nowhere’ for the next decade as inflation sticks around and US debt balloons, CIO says
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Bonhill/Getty Images Investment vet Bill Smead said the stock market will see poor returns over the next 10 to 15 years. The head of IT at Smead Capital warned that inflation is likely to persist in the long term. This could lead to a situation similar to what happened in…
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Stocks are ‘going nowhere’ for the next decade as inflation sticks around and US debt balloons, CIO says
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Bonhill/Getty Images Investment vet Bill Smead said the stock market will see poor returns over the next 10 to 15 years. The head of IT at Smead Capital warned that inflation is likely to persist in the long term. This could lead to a situation similar to what happened in…
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Gen Z really do have it worse: Those in their early 20s are earning less and have more debt than millennials did at their age
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Gen Z has been relentlessly ridiculed for spending money they don’t have on avocado toast, designer bags, and luxury vacations — and then complaining they’ll never be able to save enough for a house deposit. But in fact, research suggests that the younger generation of workers is actually worse off…
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A $600 Billion Wall of Debt Looms Over Market’s Riskiest Stocks
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Breadcrumb links BMN Business US small-cap stocks are as cheap as they have been in decades, but with a debt mountain of more than half a trillion dollars looming over the next five years, it will take a big risk-off signal from the Federal Reserve to attract investors. Article writer:…