Corporate borrowers squeezed by rising rates
Companies that piled on debt throughout the pandemic and the economic recovery could be in for a tough road ahead as the bills come due.
Business
Queensland mother whose son took his life calls for change at robodebt royal commission – As it happened
Inquiry into the unlawful scheme, which ran from 2015 to 2019, is ongoing. This blog is now closedGet our morning and afternoon news emails, free app or daily news podcastFinal robodebt hearing shines light on people affectedA Centrelink employee and a…
Deloitte CEO in thinly veiled criticism of EY after rival’s split plans thrown into chaos
Joe Ucuzoglu posts 20-minute video to Deloitte’s public websiteDeloitte’s chief executive has launched a thinly veiled criticism of rival EY after its controversial plans to split the business into two were thrown into turmoil.EY initially announced pl…
Ex-Goldman banker given 10 years in prison for role in 1MDB fraud scandal
Roger Ng, 50, found guilty by Brooklyn jury in massive embezzlement linked to Malaysian state investment fundRoger Ng, the former Goldman Sachs banker at the center of the multi-billion 1MDB embezzlement scandal, was sentenced to 10 years in prison on …
John Paul abuse claims trigger angry reaction from Poland
The fallout over an explosive Polish television report alleging that St. John Paul II covered up clergy sex abuses cases is escalating.
Yeti recalls 1.9 million coolers and cases for magnet hazard
U.S. product regulators said Thursday that Yeti has recalled 1.9 million coolers and gear cases because magnets can come detached from them, posing a risk of serious injury or death.
Average US mortgage rate up for fifth straight week to 6.73%
The average long-term U.S. mortgage rate rose for the fifth straight week to its highest level since breaching 7% in November, just as the spring buying season gets ready to kick off.
HS2 to be delayed by two more years due to soaring costs
Birmingham to Crewe stretch put on hold and major roadbuilding schemes slowed in response to inflation surgeHS2 will be delayed by another two years and major roadbuilding schemes will be mothballed, ministers have confirmed, after soaring inflation ad…
Middle East Unicorn Swvl’s Spectacular Rise and 99% Stock Tumble
A SPAC merger brought a global “Uber for bus” startup to the Nasdaq just as tech investment was about to dry up. From a report: In July 2021 the world’s tallest tower, the Burj Khalifa in Dubai, was briefly lit up in brilliant red, with animated electr…
Italy to stiffen smuggling punishment after migrant tragedy
Italian Premier Giorgia Meloni has brought her planned crackdown on people smugglers to a southern town near the coast where a wooden boat crowded with migrants broke apart.