News

News about debt, debt management and the credit industry
Oral Roberts University, which was once tens of millions of dollars in the red after a financial scandal tarnished the Tulsa evangelical school, is finally debt-free, school officials told The Associated Press on Wednesday.

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Sept. 23 (Bloomberg) -- PT Bumi Resources , Indonesia’s biggest coal producer, said it raised $1.9 billion selling debt to China’s sovereign wealth fund and plans to use the proceeds to reduce borrowings.

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Oral Roberts University is set to announce that the Tulsa evangelical school is finally debt-free after being tens of millions of dollars in the red.

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Ukrainian authorities on Wednesday sought to reassure investors that the state energy company Naftogaz will not default on its $1.6 billion loan and will be able to restructure the debt, news reports said.

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Sept. 23 (Bloomberg) -- Lloyds Banking Group Plc , the U.K.’s biggest mortgage lender, and the financial unit of Volkswagen AG may help resuscitate Europe’s 2.2 trillion-euro ($3.2 trillion) asset-backed securities market with the first public sales of the debt in more than a year.

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The Obama administration, though it says it supports free trade, has so far seemed aligned with labor’s trade agenda.

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Richard Trumka, the new president of the A.F.L.-C.I.O., told bankers they faced a battle if they did not do more to help homeowners and create jobs.

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Economists and researchers estimate that doctors’ fear of lawsuits leads to a large amount of wasteful treatment — up to $60 billion worth a year.

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