Breaking Financial News

People sometimes fail to meet their financial obligations due to different reasons. Some cases are extreme such an individual is even unable to take care of his basic needs or a company is unable to run its activities. The legal process where by a person or a company is given a chance to start rebuilding their financial grounds and future is called bankruptcy. This article discuses the different types that can be filed as well as its implications to an individual or company.

Advantages of being declared bankrupt mainly revolve about giving you a chance of reorganizing you financial future and avoiding the harassment for creditors. A bankrupt individual will not be pestered by creditors aiming to get their money back and he hence has his peace of mind.

Another alternative is considering selling your assets in a bid of paying back the debt. You ca get a good amount of money that can be used in settling the money you owe creditors and at least get another new chance of building your financial base.

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For a classic hockey stick formation, check on the 2 year yields for Portuguese and Irish bonds (table below). For Portugal, the 2 year yield is up to 17.5%, and for Ireland, the yield is 15.6%.

The yields for Italy and Spain are up too, and of special concern is the sharp increase in the Italian 10 year yield up to 5.2%.

From the ECB this morning: ECB announces change in eligibility of debt instruments issued or guaranteed by the Portuguese government

The Governing Council of the European Central Bank (ECB) has decided to suspend the application of the minimum credit rating threshold in the collateral eligibility requirements for the purposes of the Eurosystems credit operations in the case of marketable debt instruments issued or guaranteed by the Portuguese government. This suspension will be maintained until further notice.

The Portuguese government has approved an economic and financial adjustment programme, which has been negotiated with the European Commission, in liaison with the ECB, and the International Monetary Fund.

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Tags: Portugal, Portugal Update

A big storm is brewing this summer on the labor front. State and local governments beginning a new fiscal year will continue budget cuts and add to the ranks of the unemployed. Meanwhile, the economys tepid growth means that the private sector might not generate enough jobs to sustain what growth there is. Related Links

• Kiplinger’s Economic Outlooks
• 10 Hot Jobs in a Cool Economy
• QUIZ: Will You Ace Your Next Interview?

By year-end, the unemployment rate isnt likely to be much different than it is now. Thats because folks who lost their jobs grow discouraged and stop looking. As hiring increases, they try again to find work and that drives up the number of active job seekers, keeping the jobless rate elevated even as new jobs are being created.

Due to the abrupt slowdown in job growth during May and June, the total number of net new jobs this year will be closer to 1.5 million than the 2 million previously expected.

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Tags: Economy

Workers in the UK expect that by 2021 offices will face extinction as technology enables mobile working, says a new study.? ?

Some 58 per cent of the 1,000 office workers surveyed as part of the research believe that companies will no longer require an office space to do business in ten years.? ?

The study, commissioned by Virgin Media Business, reveals that 56 per cent of employees expect to see a marked reduction in the amount of time they spend travelling to and from work or to meetings.? ?

Nearly two-thirds, or 63 per cent, hope that one device will be all they need to work, offering access to everything they require in not only their professional but also their private lives.? ?

Mark Heraghty, managing director of Virgin Media Business, says, ‘This is a trend that we’re already starting to see across the UK, with mobile working tripling in the last year alone.? ?

‘As employers search for more agile and effective ways of running their businesses, we’re increasingly finding that firms are swapping expensive office spaces in favour of a virtual workplace, where all activities can be conducted remotely.’? ?

Some 83 per cent of the workers polled say they are more productive now than in 2001, as smartphones and cloud computing make it easier to work out of the office.

Tags: 2021, Face Extinction