Home buyers of stressed realty projects may be governed by a separate regulatory framework if a proposal put forward by the insolvency regulator for public comments is approved. The Insolvency and Bankruptcy Code (IBC) was amended in 2018 to clarify the status of home buyers as financial creditors. However, a large number of real estate […]
About 1,800 jobs are to be created in South Yorkshire building 10 new environmentally friendly airships. Hybrid Air Vehicles (HAV), a small Bedford-based company, announced on Wednesday it had signed a deal to provide a Spanish airline with 10 of its 100-passenger Airlander 10 helium-filled airships. The aircraft, which the company says will have under […]
The value of mortgage arrears in the UK has reached its highest level since 2010, with £2.05bn of mortgage debt delinquent at the end of the first quarter of 2022. As interest rate rises and the cost-of-living crisis hit household finances, more families are now beginning to fall behind on mortgage payments. Matthew Carter, partner […]
New ONS data shows that British exports to the EU reached their highest ever level due to rising exports of fuels as the bloc continues to import substantial quantities of LNG. Goods exports to the EU reached £16.4bn in April 2022, their highest level in current prices since the series began in 1997. Meanwhile, the […]
More than 64,000 staff at Lloyds Bank are to receive a £1,000 one-off payment to help with the rising cost of living in the UK. The payment – due to be made in August – comes after a campaign by the union Unite, which demonstrated at Lloyds’ annual general meeting last month. Unite said it […]
Banks and building societies will have to do more to look at the impacts of reductions to their services, such as cutting branch opening times, under new proposals from the City regulator. The Financial Conduct Authority said some banks and building societies are not doing enough to understand the impact of the changes they make […]
Automaker Stellantis NV said on Tuesday it will begin an indefinite layoff starting next week at its Sterling Heights stamping plant in Michigan. Read More
SHANGHAI — China’s central bank rolled over maturing medium-term policy loans on Wednesday, while keeping interest rates unchanged for a fifth straight month, matching market expectations. Read More
SINGAPORE — Software firm MicroStrategy said it has not received a margin call against its bitcoin-backed borrowing on Wednesday, and it has plenty of extra collateral to pledge if necessary. Read More