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Latest news: Credit and Debt

Big bite on spending swallows up hospitality businesses

Big bite on spending swallows up hospitality businesses

A record-high 9.4 per cent of food service and hospitality businesses shut their doors in the year to March as cost pressures weighed heavily on households.

Credit rating outlook downgrade rests in state's hands

Credit rating outlook downgrade rests in state's hands

Credit rating outlook downgrade rests in state's hands

Credit rating outlook downgrade rests in state's hands

A state government can fix a credit rating outlook downgrade in its first budget after an international agency identified "significant fiscal deterioration".

Steelworks forced into administration to 'save' future

Steelworks forced into administration to 'save' future

Steelworks forced into administration to 'save' future

Steelworks forced into administration to 'save' future

South Australia has ended months of uncertainty over a critical steelworks by placing the plant into administration.

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'No-brainer' home ownership boost for HECS debt Aussies

'No-brainer' home ownership boost for HECS debt Aussies

Australians saddled with student debt who want to enter the housing market will be given a helping hand, under changes to lending requirements.

Surge in number of Australians seeking debt help

Surge in number of Australians seeking debt help

Australians are struggling with the mounting cost of living, with the National Debt Helpline fielding a significant increase in calls.

Slow economic growth set to continue into 2025

Slow economic growth set to continue into 2025

While there may be a slow uptick in economic growth in the near future, it will remain subdued into the 2025, a survey has predicted.

LNP drum up support after dancing around costings

LNP drum up support after dancing around costings

The Queensland opposition has drummed up interest for its youth crime prevention measures after being accused of dancing around costings ahead of the election.

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Chips are down as Star posts huge loss, cashes in jobs

Chips are down as Star posts huge loss, cashes in jobs

Chips are down as Star posts huge loss, cashes in jobs

Chips are down as Star posts huge loss, cashes in jobs

Star Entertainment has written down the value of its three casinos by $1.4 billion as its new CEO plots a path to turn around the fortunes of the company.

Suburban Rail Loop cash gap may threaten credit rating

Suburban Rail Loop cash gap may threaten credit rating

Suburban Rail Loop cash gap may threaten credit rating

Suburban Rail Loop cash gap may threaten credit rating

Global agency S&P has warned Victoria's credit rating could dive further if the state is forced to foot the rest of the bill for the Suburban Rail Loop.

Call for ad ban on easy credit for groceries, medicines

Call for ad ban on easy credit for groceries, medicines

Call for ad ban on easy credit for groceries, medicines

Call for ad ban on easy credit for groceries, medicines

A popular form of credit to encourage online shopping has morphed into a crutch for trying to stay a step ahead of financial disaster, an inquiry has been told.

Amex fined $8m over unsuitable David Jones credit cards

Amex fined $8m over unsuitable David Jones credit cards

Amex fined $8m over unsuitable David Jones credit cards

Amex fined $8m over unsuitable David Jones credit cards

American Express will have to pay an $8 million fine after offering co-branded David Jones credit cards without ensuring they were appropriate for customers.

Buy now, pay later laws introduced to shield vulnerable

Buy now, pay later laws introduced to shield vulnerable

Buy now, pay later laws introduced to shield vulnerable

Buy now, pay later laws introduced to shield vulnerable

Buy now, pay later loan providers will soon be subject to regulations aiming to protect at-risk Australians from financial harm.

Reform call as student debt hiked by thousands of bucks

Reform call as student debt hiked by thousands of bucks

Reform call as student debt hiked by thousands of bucks

Reform call as student debt hiked by thousands of bucks

Those with student debts will have their outstanding amount increased due to indexation but changes to the scheme will reduce the balance later this year.

ASIC victory in four-year pursuit of high-fee lenders

ASIC victory in four-year pursuit of high-fee lenders

ASIC victory in four-year pursuit of high-fee lenders

ASIC victory in four-year pursuit of high-fee lenders

Two Gold Coast lenders could face hefty fines after charging over $70 million in fees for less than half that amount in loans issued without a credit licence.

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ATO to name and shame businesses over unpaid debts

The tax office is coming after businesses owing more than $100,000 by threatening to name and shame them in a bid to recoup more than $5 billion it is owed.

'Choked on my Weeties': Pallas dismisses Vic debt sum

Treasurer Tim Pallas is confident a credit rating downgrade isn't on the horizon for Victoria despite a major global agency's debt forecast.

'Perfect storm': insolvency surge threatens businesses

The Australian Taxation Office and other creditors pose the biggest threat to cash-strapped businesses facing an insolvency "surge", an organisation says.

Debt 'solvers' accused of leaving clients' bills unpaid

Debt management company Solve My Debt Now has been accused of being little more than a name, allegedly making many people's financial hardship worse.

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Credit Corp says Aust late debt supply 'constrained'

Australia's biggest debt buyer and collection agency says there hasn't been much in the way of delinquent debts available for purchase domestically.

Students dive into pockets to beat HECS interest rise

As uni students rushed to pay back more on their HECS to beat a rise in interest, the government has agreed it's time to consider how repayments are calculated.

Biden, McCarthy reach tentative US debt ceiling deal

US Democratic President Joe Biden and Republican House Speaker Kevin McCarthy have reached a tentative deal to raise America's debt ceiling.

Clampdown on buy now, pay later following abuse claims

The federal government will regulate buy now, pay later services in a bid to protect Australians against financial abuse and hardship.

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