Huge debts at Titanic shipbuilder Harland & Wolff revealed October 31, 2024 Titanic shipbuilder Harland & Wolff owed more than £160m when it collapsed into administration last month, it has been revealed. Teneo was appointed to oversee the process at the 162-year-old holding company in September while its subsidiary firms, including its prized Belfast shipyard, will continue to trade under the control of the directors. Now a [...]
IMF warns UK is at risk of ‘adverse market reaction’ without action on debt October 23, 2024 Government debt will rise through the 2020s, surpassing GDP and putting the UK at risk of an "adverse market reaction", the IMF warned.
Borrowing figures show Reeves is in a fiscal bind ahead of Budget October 22, 2024 The latest figures showed that borrowing in September exceeded expectations yet again, driven by higher government spending.
IMF predicts global debt to surpass $100 trillion this year October 15, 2024 In its latest fiscal monitor, the international fiscal watchdog said that public debt had spiralled post-pandemic, as governments increasingly embraced spending to stimulate economic growth.
Brewdog founder James Watt on Britain’s ‘existential’ debt crisis October 11, 2024 Founder of beer chain Brewdog has warned Britain’s political system faces an “existential crisis”, and has offered a solution to get on top of it. James Watt took to LinkedIn to vent his frustration at the levels of debt being serviced in the UK economy at the moment, which makes it “impossible for us to [...]
Government borrowing jumps as threat of tax hikes grows September 20, 2024 The figures come just over a month before Rachel Reeves delivers her first Budget as Chancellor.
Asos slashes £500m debt pile as refinancing deals revealed September 11, 2024 Asos has announced the successful refinancing of the majority of its £500m debt due in 2026, with only just over £70m outstanding. The online fast-fashion retailer, which has struggled with post-pandemic shopping trends, had £500m in convertible bonds due 2026. The London-headquartered company has now exchanged £253m into convertible bonds due in 2028 rather than [...]
Thames Water creditors in funding drive to dodge special administration September 6, 2024 A group of Thames Water’s creditors are devising backup plans for a renewed injection of cash in a bid to prevent the firm from being effectively renationalised. The UK’s biggest water company is struggling under an £18.7bn debt crisis, and is in talks with lenders to provide it with fresh funding. The floundering utility firm [...]
Government borrowing exceeds estimates as public sector spending jumps August 21, 2024 Monthly borrowing figures will be closely watched over the coming months for clues about how much Labour will raise taxes in October's Budget.
Donald Trump discloses $513m in income from US golf clubs and resorts August 16, 2024 Former president Donald Trump’s latest financial disclosure revealed that he has made over half a billion in income from his US golf clubs and resorts and is facing hundreds of millions in legal problems. A Bloomberg analysis of the Republican presidential nominee’s 265-page filing highlighted that the businessman-turned-politician listed a total of $513m (£398m) in [...]