Coronavirus: Taxpayers ‘face £36bn bad debt from emergency loans’

British companies could be saddled with unsustainable taxpayer-guaranteed loans of up to £36bn as they try to survive the coronavirus pandemic, a report from a panel of business leaders will warn next week.

PG&E Readies $11 Billion Jumbo Debt Deal for Bankruptcy Exit

Seanergy’s Shipping Rates Set to Rebound While Equity Raises Will Reduce Debt, Says Analyst

Taking the term penny stock to a whole new level, we have Seanergy Maritime (SHIP).

Bank of England faces calls to overhaul 'restrictive' remit

Move will accelerate recovery from coronavirus crisis, says Policy Exchange thinktank Coronavirus – latest updates See all our coronavirus coverage The government should cut taxes and overhaul the Bank of England’s “restrictive” remit as part of a radical new pro-growth strategy to accelerate the recovery from the coronavirus crisis, according to a free market thinktank with close ties to the Conservative party. Policy Exchange, which was co-founded by Cabinet Office minister Michael Gove, warned ministers to take a relaxed view of rising levels of debt and use cheap credit to boost the economy and protect jobs.

EU laid bare: German memo showing ‘secret slide towards super-state’ revealed

GERMANY wanted to tackle the eurozone debt crisis by creating a European super-state with spending and tax plans set in Brussels in 2011, unearthed reports suggest.

Southwest Airlines Prices Two-Tranche $1.8 Billion Debt Offering

Southwest Airlines Co. (LUV) said it has priced its public offering of $1.8 billion of debt in two tranches.The US carrier will offer to sell $500 million aggregate principal amount of 4.750% notes due 2023 and $1.3 billion aggregate principal amount of 5.125% notes due 2027.

Billionaire Investor Dan Loeb’s Fund Lists Boeing As Top Winner In May

Billionaire investor Dan Loeb’s Third Point LLC fund has Boeing Co (BA) listed among its top winners in May sending shares in the ailing planemaker up 13% on Wednesday.The stock help up its gains on Wednesday even after Loeb told CNBC that he bought Boeing debt and not stock, reversing earlier market rumors that the fund entered into an equity position.

India's Reliance conglomerate raises $7bn in rights issue

Sprawling company of Asia’s richest man, Mukesh Ambani, claims world’s biggest non-bank fundraising in a decade India’s telecom-to-oil conglomerate Reliance Industries has completed a massive $7bn rights issue in what it touted as the world’s biggest by a non-financial institution in a decade. Reliance, owned by Asia’s richest man, Mukesh Ambani, had said the fundraising drive was meant to pay down debt and help shift the company to a digital future.

Chester Zoo 'at risk of extinction' after being told to shut 'indefinitely'

Bosses at Chester Zoo fear they may close for good after predicting they could be left in £24m worth of debt by the end of 2020 after losing 97% of its income from visitors during the pandemic

Student loan expert on mass debt cancellation: ‘We don’t need these blunt solutions’

The coronavirus pandemic and accompanying financial crisis is putting particular pressure on the finances of student loan borrowers and on Congress to do something about a “broken” system.

Russian firm, French far-right party settle $10m debt dispute

National Rally led by Marine Le Pen reaches a legal deal with a Russian aviation parts firm over a controversial loan.

Argentina debt deal in sight as serial defaulter looks to avoid 'zombie land'

Argentina, in default since last month, is tantalizingly close to pulling off a $65 billion debt restructuring deal with creditors but still faces a complex set of hurdles to avoid falling into what one bondholder called debtor "zombie land."

BlackRock focuses on China credit, oil and travel in Asia

The world's biggest asset manager, BlackRock Inc, called out oil stocks, domestic tourism and debt in China and India as investment opportunities in its Asia outlook on Wednesday.

Argentina debt deal in sight as serial defaulter looks to avoid 'zombie land'

Argentina, in default since last month, is tantalizingly close to pulling off a $65 billion debt restructuring deal with creditors but still faces a complex set of hurdles to avoid falling into what one bondholder called debtor "zombie land." Creditors said they expect to have the new offer in coming days.

Borrowers on payment holidays to receive 'thuggish' debt letters

Campaign bids to change 1970s law forcing UK lenders to issue payments warning Coronavirus – latest updates See all our coronavirus coverage Millions of households that have taken payment holidays on their mortgage or other debt during the pandemic are likely to receive “thuggish” debt threat letters in coming weeks as lenders are legally required to issue the warnings. Martin Lewis, the TV presenter and chair of the Money and Mental Health Policy Institute, is behind a campaign to halt the threatening letters, which stem from rules in the Consumer Credit Act (1974) that compel lenders to send a warning once a borrower has failed to make two payments in a row.

Coronavirus: Debt letters 'make money problems worse'

Demands required by law may contribute to people with problems taking their lives, say campaigners.

Coronavirus latest: Charity raises 'serious concerns' over 'thuggish' letters sent to people in debt during lockdown

Even people who have been granted repayment holidays during the pandemic can expect to receive intimidating 'debt threat letters'

CANADA FX DEBT-C$ climbs to 3-month high as investors focus on global recovery

Canada runs a current account deficit and is a major producer of commodities, including oil, so its economy could particularly benefit from a pickup in the global flow of trade and capital.

UK consumers pay off record £7.4bn in credit card and loan debt during lockdown

Figures point to plunging consumer demand, giving government ministers a problem as they attempt to boost economy

Coronavirus: Hancock's £13.4bn debt 'write-off' for NHS could cost hospitals millions every year

Exclusive: Debt-ridden trusts will now face having to pay an annual charge with costs still exceeding their income

Teens facing starting uni online worry they’re not getting what they paid for

A-Level students are finishing school in lockdown and facing the possibility of going to uni online too, but some worry they’re racking up debt without their money’s worth and having their futures taken out of their hands.

Bitcoin Is a Big Opportunity for Investors in the Debt-Fueled Roaring Twenties

With interest rates for government debt near zero, or negative, the fixed income asset class has disappeared.

Supreme Court upholds constitutionality of board charged with reorganizing Puerto Rican debt

A board charged with reorganizing Puerto Rico's debt in the wake of financial crisis can continue its work, the Supreme Court held unanimously Monday, rejecting a constitutional challenge that threatened the restructuring of billions of dollars of debt.

Supreme Court lets Puerto Rico, after debt and disaster, avoid further upheaval

The high court ruled unanimously that Puerto Rico's management board has local functions and, therefore, the appoint of its members is constitutional.

Coronavirus: Poor countries face debt crisis 'unlike anything we have seen'

Repayments now more expensive due to market volatility

Dubai faces 5.5% recession this year as $10 bln debt repayments loom, BofA says

Dubai could see a recession of around 5.5% in 2020 as it faces about $10 billion in debt maturities this year while revenues are expected to drop in line with the pattern of the 2009 crisis, Bank of America said in a research note.

MPs to ditch £4bn move to allow builders in Parliament as UK battles coronavirus debt

THE £4 billion plans to move MPs out of Parliament to allow the refurbishment of the Palace of Westminster are on the verge of being ditched.

Stuart Evers: 'We either look into the gutter or at the upper classes'

The award-winning novelist on his debt to ‘kitchen-sink’ dramas, why the family is everyone’s first taste of politics, and the paranoia of the nuclear age Stuart Evers’s acclaimed debut collection Ten Stories About Smoking won the London book award in 2011.

Desperate man lured into debt and tycoon behind it: GUY ADAMS exposes truth about gambling fat cat

Mor Weizer's firm Playtech was slammed in a report, which found 'systemic failings' in the way it managed social responsibilities.

'You can't ask people to die': Coronavirus woes deepen Argentina's crisis

A new deadline to restructure the country's debt is just days away.

Coronavirus could deepen Britain’s North-South divide, Sir Keir Starmer says

The Labour leader also says ‘a huge debt of gratitude’ is owed to key workers.

Distressed Retailer Party City May Cut Debt With Bond Deal

Soas to slash budgets and staff as debt crisis worsens in pandemic

Exclusive: fears of takeover after auditors question whether London-based institution can continue Soas survived the end of empire but can it recover this time? Soas University of London is being forced to slash budgets and prepare significant staff cuts after being caught in a financial crisis hastened by the coronavirus pandemic, the Guardian can reveal. Staff say they fear that management is cutting costs to make the college, formerly called the School of Oriental and African Studies, a palatable takeover target for an overseas institution or one of its London rivals, as the latest financial figures show that it to be carrying multi-million pound deficits and risks running out of cash next year.

On debt-stricken Lebanon, investors see little room for optimism

Emerging market investors are no strangers to sovereign debt crises, but few have been as perilous as the one facing Lebanon given a toxic combination of financial and political weaknesses and no obvious economic platform on which to build a recovery.

$1 Trillion of Corporate Bonds Today, Downgrades Tomorrow

(Bloomberg Opinion) -- The amount of new debt issued this year in the US investment-grade corporate bond market will reach $1 trillion today, by far the fastest pace in history. The implications of that milestone depend on how you look at it.For businesses that had been ravaged by the coronavirus pandemic and the ensuing nationwide lockdowns, access to capital markets was a lifeline to get through the worst of the economic collapse.

Macy's Announces Pricing Of Its $1.3B Debt Offering As Shares Jump 26%

Macy's Inc. (NYSE: M) on Wednesday announced it has priced a $1.3 billion debt offering at an interest rate of 8.375%.The amount to be raised is $200 million above what the retailer stated earlier on Tuesday.

Credit card crunch continues as interest-free terms hit a record low

The number of interest-free credit card deals has fallen to a record low for the second successive month, as banks continue to slash the availability of unsecured debt.

Tencent raises $6 billion in largest Asian corporate debt deal this year

Tencent Holdings Ltd has raised $6 billion in debt, the Chinese technology company said on Thursday, in the largest debt deal by an Asian corporate in 2020.

News: IATA warns over unsustainable aviation debt

The International Air Transport Association has released its latest analysis showing the airline industry’s global debt could rise to $550 billion by year-end.

Saudi Sheikh is locked in a feud with exclusive Mayfair casino over '£2 million gambling debt'

Sheikh Salah Hamdan Al Balawi is accused of failing to settle debt with the Les Ambassadeurs Club, London.

Eurozone on brink: EU currency faces devastating COLLAPSE - panicked ECB issues warning

THE Eurozone's most debt-ridden countries risk bringing the single currency bloc to its knees as the impact of the coronavirus pandemic is laid bare, the European Central Bank has warned.

CANADA FX DEBT-C$ surges to 2-month high as economic reopening pressures bears

World shares forged ahead and commodity markets drove higher as investors disregarded Sino-US tensions to focus on the easing of lockdowns and a potential coronavirus vaccine.

Debt-Ridden Argentina Can’t Stop Precious Dollars Draining Away

(Bloomberg) -- As Argentina negotiates with creditors to restructure its debt following a ninth default, the government is struggling with another crisis: preventing precious dollars from flowing out of its embattled economy.Strict currency controls, stalled debt payments, a nationwide lockdown -- and still the greenbacks drain away.

What are your experiences of debt during the pandemic?

We’d like to hear from people about how they are managing existing debts during the coronavirus pandemic Since the lockdown thousands of people have found themselves grappling with significantly reduced finances.

EU warning: How Mark Rutte resigned over austerity measures

DUTCH Prime Minister Mark Rutte was forced to resign over austerity measures during the European debt crisis in 2012 in a move that could serve as a warning to the EU today, unearthed reports reveal.

Thai Airways submits bankruptcy request, court says

Thai Airways International Pcl on Tuesday submitted a request to a bankruptcy court for rehabilitation of its debt, the court said, which if approved would give the airline time to negotiate with its creditors.

Poverty and debt driving young women to self-harm – survey

Report says those from poorest backgrounds five times more likely to harm themselves Young women are being driven to self-harm as a result of poverty, debt and their struggles to pay household bills, research shows. Women aged 16-34 from the poorest backgrounds are five times more likely to harm themselves than those from the most well-off families, according to the study by NatCen Social Research.

$66 Trillion Debt Prediction by the IMF Prompts ‘Rich Dad Poor Dad’ Author to Make Case for Gold, Silver and Bitcoin

Defaults, bankruptcies and mounting debt have prompted the author of the best-selling book series “Rich Dad Poor Dad” to issue renewed support for Bitcoin as well as gold and silver.

Pizza Express in talks to 'permanently close hundreds of UK restaurants'

Pizza Express - owned by Chinese private equity firm Hony Capital - is grappling with an eye-watering £1.1billion debt pile, of which £665million is owed to bondholders

Europe’s Debt Reckoning May Mean Tough Choices on Who to Tax

(Bloomberg) -- Europe’s leaders may be united on the need to throw money at economies during the coronavirus crisis, but they have yet to confront how to pay for it all.That reckoning could force governments across the region into tough choices about where to lay the burden among voters already disillusioned with political establishments -- a decade after the global financial crisis presented them with previous bills to settle.Europe’s austerity experiments since then, from Greece to the UK, provide cautionary tales of either the economic damage or electoral fatigue that spending cuts can cause.

Chancellor Rishi Sunak draws up fresh bailout pan for key, debt-ridden companies

RISHI Sunak has drawn up a fresh bailout plan for key, debt-ridden companies, it was reported last night.

Asia’s Rich Brush Aside Risk to Snatch Up Chinese Developer Debt

(Bloomberg) -- When China’s largest residential property developer raised money this month, a third of interest came from banks that service the wealthy, a group keeping faith with the nation’s beleaguered builders even as other investors flee.The affluent in Hong Kong and the mainland have piled in as Chinese developers sold a record $26 billion in US dollar bonds in the first quarter and $1 billion since, brushing aside concerns that pushed junk-bond yields to an eight-year high in March.Heightened interest from private bank clients and family offices is an important support as developers look to refinance or repay at least $20 billion of debt in a year of uncertain prospects for real estate.

Merkel Macron plot blocked: Four EU nations oppose £448billion EU 'backdoor debt union'

EU MEMBER states have formally opposed a French-German plan for a £448billion coronavirus recovery fund that would issue grants.

Argentina, creditors get ready to resume debt talks after ninth sovereign default

A major Argentina creditor group said on Saturday it had been invited to sign a non-disclosure agreement by Argentina's government, signaling that talks could be moving to the next phase after the South American country defaulted a day earlier.

We must get back to work or we’ll leave our children a legacy of debt

IF the financial effect of coronavirus was a tsunami, this was the week that we began to realise that we ain’t seen nothing yet.

Argentina, creditors get ready to resume debt talks after ninth sovereign default

A major Argentina creditor group said on Saturday it had been invited to sign a non-disclosure agreement by Argentina's government, signaling that talks could be moving to the next phase after the South American country defaulted a day earlier.

Why the Treasury’s panic over debt, when borrowing costs next to nothing?

Even avid free-marketeers see that only state money can get growth going, but the chancellor is suddenly running scaredA consensus has emerged that the only route out of the lockdown is with government cash.

Argentina, creditors get ready to resume debt talks after default

A major Argentina creditor group said on Saturday it was committed to its own restructuring proposal, and it had been invited to sign a non-disclosure agreement by Argentina's government, which defaulted on about $500 million in bond payments a day earlier.

New bill could stop $1,200 coronavirus stimulus checks being seized by debt collectors

A NEW bipartisan bill was unveiled that would prevent stimulus checks from being gobbled up by private debt collectors.

Argentina defaults on bond payments as debt talks heat up

Argentina missed payments on around $500 million in already delayed bond coupons on Friday, creditors and a ratings agency said, marking the country's ninth sovereign default amid ongoing restructuring talks with creditors.

Hertz: Car rental company files for bankruptcy due to debt and Covid-19

The firm, which has more than 400 outlets across the UK and Ireland, was £15.3billion in debt at the end of March,

Merkel Plan for EU Debt Meets Opposition From Budget Hardliners

(Bloomberg) -- The opposition to plans for the European Union to collectively finance its response to the coronavirus recession is taking shape after four members proposed a temporary fund for emergency loans as an alternative.In a joint paper, the leaders of Austria, Denmark, Sweden and The Netherlands, sometimes dubbed the “Frugal Four,” reiterated their opposition to joint debt and any direct grants and to an increased EU budget, throwing cold water on the initiative set out by German Chancellor Angela Merkel and her French counterpart Emmanuel Macron on Monday.“Our objective is to provide temporary, dedicated funding through the MFF and to offer favorable loans to those who have been most severely affected by the crisis,” the four countries wrote.

Coronavirus and debt push Hertz to file for bankruptcy protection

Hertz, Car Rental Pioneer, Files for Bankruptcy Protection

The company, which had amassed a large debt, has been devastated by the sharp drop in travel during the pandemic.

Debt and coronavirus push Hertz into bankruptcy protection

Hertz filed for bankruptcy protection Friday, unable to withstand the coronavirus pandemic that has crippled global travel and with it, the heavily indebted 102-year-old car rental company's business.

Car-rental giant Hertz 'is preparing to file for bankruptcy with $19BILLION of debt'

Hertz is the second-largest car rental company in the US, with around 770, 000 vehicles in their fleet - but they do not own the automobiles outright.

Hollywood Executive Pocketed $1.7 Million in COVID-19 Relief Funds: Feds

A recently ousted Hollywood executive has been arrested and charged with fraud for using $1.7 million in COVID-19 relief loans he received on personal expenses, including credit-card debt and car payments, federal prosecutors alleged Friday.

Coronavirus: Leading economist warns of 10 years of depression and debt

Economist Nouriel Roubini - "Dr Doom" - has warned of a prolonged downturn and sluggish recovery.

'Deeply unfair': Ministers urged to expand visa extensions to care workers and low-paid NHS staff

Campaigners brand it 'unacceptable' that while frontline NHS workers have been exempt from paying visa fees, lower paid health staff working to tackle virus are still required to do so – forcing some into debt and hunger

Argentina set for default as bondholders reject new terms

Talks to restructure ‘unsustainable’ debt held by overseas investors continue Argentina is on course for a technical default on its government borrowing on Friday as the country continues to hold talks with international investors over plans to restructure its debts. Financial investors said they expected the country to miss $500m (£410m) in interest payments on its borrowing, according to the Reuters news agency, as the government tries to renegotiate its borrowing before a 2 June deadline.

Argentina’s Stumble to Default Caps Brutal Four-Year Decline

(Bloomberg) -- Argentina is on the verge of officially being declared in default just four years after a wave of optimism lured billions of dollars in investment.The country’s ambassador to the US said it wouldn’t make $500 million of overdue payments whose grace period expired today until it can reach a restructuring deal with creditors, likely marking Argentina’s ninth default on international debt in its 200-year history.

New York obtains student loan debt relief fraud settlements

New York's attorney general said on Friday she has settled a lawsuit against three companies accused of tricking struggling borrowers into paying more than $1,000 for student loan debt relief services that were available for free.

Argentina Braces for Ninth Default

(Bloomberg) -- Argentina’s leader Alberto Fernandez faces a defining moment in his presidency Friday as the nation braces for its ninth sovereign debt default.After five months in office grappling with recession, 50% inflation and a crash in the unofficial peso rate, Fernandez is trying to strike a deal with bondholders over the coming weeks to prevent even worse chaos.If he succeeds, there may be light at the end of the tunnel for an economy that was in deep trouble even before the coronavirus pandemic, and an increased chance that Fernandez will solidify his power within the government coalition.

Man Utd announce debt has risen near £430m

Manchester United have announced their debt has risen to close to £430 million in their latest financial figures.

Argentina on brink of default as it wrangles with bondholders 

Investors have abandoned hopes of a last-minute reprieve in negotiations with Argentina to restructure $65bn of foreign debt, as the country braces itself for a ninth sovereign debt default.

Coronavirus: New insolvency law to help businesses survive in face of 'aggressive debt recovery' during pandemic

Pubs and bars hail rules that will protect them from landlords demanding rent when they are closed down and have no income

'Show respect for every single health worker - we owe them so much'

The debt we owe to our overseas workers is immeasurable, and we can start to repay it by treating them all with the dignity and respect they show us and our sick loved ones every single day

Casino giant Caesars’ challenges go far beyond coronavirus and social distancing

Casino giant Caesars’ mountains of debt raises uncertainty about its pending merger with Eldorado (ERI) amid the pandemic, says Dan Wasiolek, senior equity analyst at Morningstar.

Assad seizes assets of wealthy cousin after he issued rare public appeal for debt relief

The Syrian regime has announced it will seize the assets of a wealthy businessman and cousin of President Bashar al-Assad, after he published a series of provocative video appeals where he begged for debt relief.

Euro gains on EU recovery-fund plan, oil climbs

The euro and European government debt rallied on Tuesday, lifted by a Franco-German proposal to fund grants for regions hit hardest by the coronavirus pandemic, while oil rose on growing demand as countries eased business lockdowns.

Pfizer Seeks To Raise $4 Billion From Debt Sale

US drugmaker Pfizer Inc. (PFE) disclosed the pricing of its four-tranche debt offering through which it intends to raise about $4 billion in proceeds.The offering includes $750 million of 0.800% notes due 2025, $1 billion of 1.700% notes due 2030, $1 billion of 2.550% notes due 2040 and $1.25 billion of 2.700% notes maturing in 2050.Pfizer, which is also engaged in the development of a coronavirus vaccine candidate, said it will use the net proceeds for general corporate purposes, including for repayment of a portion of its outstanding commercial paper and to refinance, redeem or repurchase existing debt.The closing of the offering is scheduled for May 28, subject to satisfaction of customary closing conditions.

Compass seeks £2bn in biggest fundraising since Covid-19 crisis began

World’s largest catering firm will use proceeds to reduce debt and shore up finances Coronavirus – latest updates See all our coronavirus coverage Compass Group, the world’s biggest catering firm, intends to raise £2bn from investors to shore up its finances, as the schools, offices and sporting venues it previously supplied with food remain largely closed. It is the biggest equity fundraising in the UK since the Covid-19 pandemic began.

Spain’s public debt shoots up by €22.5 billion in March, despite coronavirus crisis only affecting two weeks

SPAIN’S public debt has shot up by €22.5 billion in March alone, despite the coronavirus crisis only affecting half of the month.

Lives Depend on Argentina’s Debt Talks

Governments won’t be able to contain the pandemic if they are forced to use scarce foreign currency to make unsustainable debt payments.

News: Vote of confidence as Fly Now Pay Later raises fresh capital

Fly Now Pay Later has raised approximately €39.2 million in Series A equity and debt funding, as it ramps up a new and more flexible way to finance travel in a post Covid-19 world.

Amazon Is Said To Be In Talks To Buy Bankrupt J.C. Penney

Amazon.Com Inc. (AMZN) is said to be interested in snapping up debt-strapped J.C.

The American Empire Is in Decline. Time for a New Economic System

From debt to inequality, the US economy looks like a 1930s disaster waiting to happen.

AMT coffee tycoon faces bankruptcy over £1.5 million debt to sister-in-law, High Court hears

Coronavirus: Shopping centre giant Intu warns of debt default risk

Trafford Centre-owner Intu is asking lenders for breathing space as coronavirus hampers recovery.

Cousin of Syria's Assad faces legal action over telecom debt

Syria’s telecommunications authority on Sunday said a deadline for a cellular company owned by the cousin of President Bashar Assad to pay back its debts to the state has ended, adding that legal measures will be taken against the company to recover the money.

Unpriceable Risk of Climate Change Stalks $31 Trillion of Debt

(Bloomberg) -- When English vineyards started producing sparkling wine that aficionados lauded as a rival to Champagne, Jack McIntyre took note.“England was suddenly growing grapes that typically grew in warmer climes,” said McIntyre, a three-decade investment veteran at Philadelphia-based Brandywine Global Investment Management.

How Ontario's Doug Ford impressed the progressives

Ford may have done well on COVID-19 measures but he will go right back to his old self when debt has to be repaid.

Sanders says his supporters will vote for Biden but he needs to court them

Sanders: Biden should focus on student debt relief, health insurance coverage, a living wage, climate change and racism Former Democratic presidential candidate Bernie Sanders has said he thinks his supporters will vote for Joe Biden in the November US election, despite a former aide’s warning that Biden was not consolidating Sanders supporters. In a memo released last week, former Sanders adviser Jeff Weaver said Sanders supporters were “currently unsupportive and unenthusiastic” about Biden and “there is a real and urgent need to help Biden consolidate Sanders supporters”.

Countries' massive debt piles are turning into a disaster

This is no time to be a country that relies heavily on tourism to keep its economy going.

HEROES Act would cancel $10,000 in student debt for ‘economically distressed’ borrowers 

The legislation, which is expected to be ignored by the Republican-controlled Senate (at least in its current form), would have considerable implications for student loan borrowers.

HEROES Act would cancel $10,000 in student debt for ‘economically distressed’ borrowers 

The legislation, which is expected to be ignored by the Republican-controlled Senate (at least in its current form), would have considerable implications for student loan borrowers.

Fitch lowers outlook on France debt rating to negative

The international ratings agency Fitch on Friday lowered the outlook on France's sovereign debt from "stable" to "negative" in view of the anticipated deterioration in the country's public finances and economy this year because of the coronavirus pandemic.

Five arrested for brazen teen abduction over drug debt

Toronto police say a 14-year-old teenage boy was abducted to settle his stepbrother's drug debt.

JCPenney buys itself a little more time

JCPenney, which missed two recent debt payments and is believed on the verge of a bankruptcy filing, just made one of those missing payments to buy itself another day.

11 steps for getting out of debt including the best balance transfer 0% credit cards

TACKLING debt can seem like a daunting task – but there are simple ways to help clear what you owe.