Australia Economy Becomes Vulnerable Due To Household Debt Outrages

Here is how Australia's household debt binge has left the country vulnerable as economy shrinks.

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U.S. Congress Delayed Work on Puerto Rico Debt Relief Bill, Blaming Obama Administration

The U.S. Congress has delayed work on Puerto Rico debt bill. Originally, the bill was scheduled to be the subject of hearing on Wednesday before receiving final amendments on Thursday. After that, it will be sent for debate on the House.

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TerraForm Sued Parent Company SunEdison for Diverting $231 Million Projects Money to Its Own Balance Sheet

SunEdison is facing another lawsuit, this time from its subsidiary TerraForm. TerraForm accused its parent company for misallocating cash for its projects in India to SunEdison’s own balance sheet.

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Guosen Securities denies bond default

China's eighth largest investment bank, Guosen Securities, has clarified on behalf of its unit that there's no default on its offshore debt. The trustee of the offshore bond Bank of New York Mellon (BNY) had earlier warned bondholders of a possible default.

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Supreme Court Dumps Puerto Rico's Seek of Chapter 9 Bankruptcy

Puerto Rico is struggling with a $72 billion debt and is seeking for a Chapter 9 bankruptcy. It is unclear why the said country is excluded and will not be able to take advantage of it to protect it from creditors and restructure its debts. Only Congress can make a bankruptcy law.

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Vijay Mallya's Kingfisher House Auctioned at Rs 150 Crore Base Price

Vijay Mallya's Kingfisher's House is in auction with a base price fixed at Rs 150 crore. A consortium of SBI led the auction where interest buyers will bid online. Lenders are optimistic that the said e-auction will generate huge amount to suffice the amount to pay for the loans granted to Kingfisher Airlines and other debts.

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India to Infuse $3.65 Billion of Capital Into Government-Run Lenders

India is about to fund $3.56 billion of capital to govrnment-run lenders because of bad and restricted loans. Banks felt relief as the government is ready to help them when they need the capital.

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Vivint Solar Shareholders Approved SunEdison Acquisition, Shares Fall After The Announcement

SunEdison Inc. acquired Vivint Solar after Vivint’s shareholders overwhelmingly approved the deal of about $1.9 billion. SunEdison, once the world’s largest renewable energy company, is now facing a financial crisis with billions of debt after massive acquisition binge and plummeting stocks.

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Failing to Pay Student Loans Can Indirectly Lead Up To an Arrest

An arrest of Paul Aker, a Houston man with more than $1,500 student loan granted almost 30 years ago, received a lot of attention from the U.S citizens and media. Typically, someone can’t get arrested simply for failing to pay the student loan, but an arrest of someone with a student debt could happen under one condition when the person failed to obey a court order to show up regarding the matter.

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Paragon Offshore files bankruptcy: post debt plan announcement

The oil services company Paragon Offshore Plc filed chapter 11 bankruptcy after the announcement of debt plan. The main reason is to avoid protracted legal battles involving its former parent, Noble Corp.

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Keep your credit score high and debt low

It is a well-known fact that interest continuously accumulate on your credit card amount with time, raising the loan you owe to the credit card company. Consumers have a solution to this problem in order to maintain a good credit score and to avoid the burden of debt entirely. What they only have to do is use their credit card wisely and follow some simple rules.

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Fed wants to shield taxpayers when banks go down

The Federal Reserve is implementing new rule especially in a bid to strengthen the global financial institutions. According to the proposal, all banks that operate in the US will be able to go down smoothly without causing too much collateral damage to the public.

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First Data prices IPO at $16 per share: Highest for 2015, Lower than expected

Payments giant First Data priced its initial public offering at $16 per share, which is the biggest for 2015 and is lower than the company's previously indicated $18 to $20 per share.

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Tax hike, cost reduction in Greece budget for 2016

Alexis Tsipras-led Greece government has proposed stringent measures in the budget for 2016 year. The draft budget for 2016 indicated a series of tough measures to restore normalcy in the ailing Greece economy.

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Glencore to complete 2 deals to slash down debt

Suffering from weakening global commodities for the past one year, Glencore has informed its investors about its plans to reduce debt by $10billion. Towards this debt reduction target, Glencore is planning to conclude two deals by the end of this year or early of next year. The Anglo-Swiss multinational commodities major has been facing rough conditions in the market.

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