Brazilian Airline Gol Wins Approval of Chapter 11 Restructuring
Gol Linhas Aereas Inteligentes SA said it obtained U.S. bankruptcy court approval for the Brazilian airline's restructuring plan that cuts about $1.6 billion of debt while maintaining Abra Group Limited as its largest indirect shareholder.
The company expects to exit Chapter 11 in early June, it said in a statement Tuesday. Gol added the restructuring significantly reduces its debt by eliminating upwards of around $850 million in other obligations. The airline, which sought court protection in January 2024, announced a sweeping restructuring deal that November.
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30 minutes ago
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How to put Dave Ramsey's ‘7 Baby Steps' into action
Moneywise and Yahoo Finance LLC may earn commission or revenue through links in the content below. Breaking out of the debt cycle isn't easy. According to research by Empower, 37% of Americans can't cover a $400 emergency expense without borrowing money or dipping into their savings. And a startling 145 million Americans have less than $1,000 in savings. Thanks to Jeff Bezos, you can now become a landlord for as little as $100 — and no, you don't have to deal with tenants or fix freezers. Here's how BlackRock CEO Larry Fink has an important message for the next wave of American retirees — here's how he says you can best weather the US retirement crisis Nervous about the stock market in 2025? Find out how you can access this $1B private real estate fund (with as little as $10) So how do you beat debt and build wealth if you're living paycheck to paycheck? You may have already heard of Dave Ramsey's 7 Baby Steps. The radio host and personal finance personality has popularized this step-by-step guide to take control of your money. "It's not a fairy tale. Anyone can do it, and the plan works every single time,' according to Ramsey. 'Many people have used the plan to ditch debt, increase wealth, and live and give like no one else.' Whether it's high-yield savings accounts or low-fee investment options, here are tools that can help you put Dave Ramsey's 7 Baby Steps into action. An emergency fund is a savings buffer set aside for unexpected expenses like home or car repairs – so you can avoid going into debt in case of an unplanned financial situation. 'Without an emergency fund, you are one car repair or medical bill away from financial disaster,' Ramsey noted. But starting an emergency fund doesn't have to be overwhelming. One of the easiest ways to kickstart your emergency fund is by automatically saving your spare change. Starting a new bank account and contributing any extra money can help grow your emergency fund over time. Another smart way to grow your emergency fund is by reducing monthly expenses. For instance, many people are overpaying for car insurance simply because they don't compare rates regularly. makes it easy to compare quotes from leading insurers in your area, potentially saving you hundreds of dollars annually on premiums. The process is 100% free and won't affect your credit score. In just a few clicks, you could pay as little as $29 a month. The money you save on lower insurance rates can go directly into your emergency fund, accelerating your progress toward financial security. As of the third quarter of 2024, total credit card debt in the U.S. reached an all-time high of $1.17 trillion, according to the Federal Reserve. Dave Ramsey recommends using the debt snowball method to pay off your debts. Focus on paying off the smallest debt first while making minimum payments on the others. Once the smallest is paid off, move that payment to the next smallest debt and keep going. "Debt isn't a math problem; it's a behavior problem. The debt snowball method helps you change your behavior by giving you quick wins and keeping you motivated,' according to Ramsey. Consolidating all your debts is an effective way to get rid of your debt faster. Instead of juggling multiple monthly payments, you'll have one predictable payment to manage each month. Even after consolidating your major debts, staying debt-free can be challenging especially with rising costs and unforeseen expenses. Budgeting and tracking can help you understand where your money is going, so you can make every dollar work for you. With YNAB, you can track spending and saving all in one place. Link your accounts so you can see a big-picture look of your expenses and net worth growth. You can prioritize saving for short or long term goals — like a vacation or a down payment for a house — with the app's goal tracking feature. If you want to pay debts faster, you can create personalized paydown plans to calculate how much interest you'd save if you topped up your monthly payments with a little extra. The easy-to-use platform allows you to simplify spending decisions and clarify your financial priorities. Plus, you don't need to add your credit card information to start your free trial today. Now that your debt is behind you, keep moving forward with Dave Ramsey's Baby Steps by focusing on building your fully funded emergency fund. 'Take the money you were using to pay down debt and set aside three to six months' worth of expenses,' according to Ramsey. This will safeguard you from life's bigger unexpected bumps – like job loss or a medical emergency – and help you stay on track without slipping back into debt. Parking your cash in a high-yield savings account can significantly boost your savings and keep you on course to reach your financial goals. Such accounts offer interest rates that are often 10 to 12 times higher than the national average for traditional savings accounts, which currently stands at around 0.41%. Unfortunately, over 82% of Americans aren't using such high-yield savings accounts — leaving money on the table, according to CNBC Select. So, it's important to shop around and compare rates. The next Baby Step is to start investing 15% of your gross income towards retirement. 'By the time you're 67, you should still be working because you want to, not because you have to,' said Ramsey. A trusted, pre-screened financial advisor can help you develop a solid retirement strategy. According to research by Vanguard, people who work with financial advisors see a 3% increase in net returns. This difference can be substantial over time. For instance, if you start with a $50,000 portfolio, you could potentially retire with an extra $1.3 million after 30 years of professional guidance. With Vanguard, you can connect with a personal advisor who can help assess how you're doing so far and make sure you've got the right portfolio to meet your goals on time. Vanguard's hybrid advisory system combines advice from professional advisers and automated portfolio management to make sure your investments are working to achieve your financial goals. All you have to do is fill out a brief questionnaire about your financial goals, and Vanguard's advisers will help you set a tailored plan, and stick to it. Once you're set, you can sit back as Vanguard's advisors manage your portfolio. Because they're fiduciaries, they don't earn commissions, so you can trust that the advice you're getting is unbiased. Read more: Rich, young Americans are ditching the stormy stock market — By this point, following Dave Ramsey's 7 Baby Steps, you've paid off most of your debts (except the mortgage) and started saving for retirement. The next step is to begin saving for your children's college expenses. For example, you can open a high-yield checking and savings account which helps to build your savings over time. By combining these two powerful tools – earning higher interest rates on your cash while systematically funding a tax-advantaged 529 plan – you can build a solid college savings strategy that works in the background while you focus on other aspects of family life and the next Dave Ramsey Baby Step. Now, bring it all home. Your mortgage is the only thing between you and complete freedom from debt. Ramsey said, 'Baby Step 6 is the big dog!' Refinancing your home loan could help you pay off your mortgage early in two effective ways. By securing a lower interest rate, you can either maintain your current monthly payment while more of it goes toward the principal, or you can opt for a shorter loan term to accelerate your path to homeownership. When you refinance to a shorter term, such as moving from a 30-year to a 15-year mortgage, you'll typically receive a lower interest rate while significantly reducing the total interest paid over the life of your loan. Though your monthly payments may increase, you'll build equity faster and own your home outright years earlier than planned. The average homeowner sits on roughly $311,000 in equity as of the third quarter of 2024, according to CoreLogic. Having access to your home equity could help to cover unexpected expenses, pay substantial debt, fund a major purchase like a home renovation or supplement income from your retirement nest egg. Rates on HELOCs and home equity loans are typically lower than APRs on credit cards and personal loans, making it an appealing option for homeowners with substantial equity. Ramsey said the last step is the most rewarding: keep building wealth, become outrageously generous and leave a legacy. Real estate has long been a proven path to building generational wealth. For the 12th year in a row, Americans have ranked real estate as the best long-term investment in 2024, according to a new Gallup survey. Today it's easier than ever to enter the market with crowdfunding investing platforms like Arrived. For as little as $100, Arrived offers you access to shares of SEC-qualified investments in rental homes and vacation rentals, curated and vetted for their appreciation and income potential. Backed by world class investors like Jeff Bezos, Arrived makes it easy to fit these properties into your investment portfolio regardless of your income level. Their flexible investment amounts and simplified process allows accredited and non-accredited investors to take advantage of this inflation-hedging asset class without any extra work on your part. The next factor to consider is the preservation and protection of your wealth. Life insurance is one such tool for protecting your wealth, offering financial security for your family and ensuring your legacy is preserved. When selecting an insurance type, Dave Ramsey recommends that families choose term life insurance over whole life insurance and invest the significant savings in a tax-advantaged retirement account. Term life insurance offers coverage for a predetermined period that typically ranges from 10 to 30 years. If the insured person dies during this term, the policy pays a death benefit to the designated beneficiaries. Term insurance is usually a less expensive and more flexible option compared to whole life insurance. Young families and busy professionals looking for fast and affordable insurance can easily connect with Ethos and get term life insurance in 5 minutes, with no medical exams or blood tests. With Ethos, you can get a policy with up to $2 million in coverage, starting at just $2 per day. The application process ensures you get flexible coverage options quickly and transparently, allowing you to focus on what matters most. JPMorgan sees gold soaring to $6,000/ounce — use this 1 simple IRA trick to lock in those potential shiny gains (before it's too late) Are you rich enough to join the top 1%? Here's the net worth you need to rank among America's wealthiest — plus a few strategies to build that first-class portfolio You're probably already overpaying for this 1 'must-have' expense — and thanks to Trump's tariffs, your monthly bill could soar even higher. Here's how 2 minutes can protect your wallet right now Access to this $22.5 trillion asset class has traditionally been limited to elite investors — until now. Here's how to become the landlord of Walmart or Whole Foods without lifting a finger ¹ Terms and Conditions apply. NMLS# 1136 This article provides information only and should not be construed as advice. It is provided without warranty of any kind. Error while retrieving data Sign in to access your portfolio Error while retrieving data Error while retrieving data Error while retrieving data Error while retrieving data
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7 hours ago
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Popular women's retailer closing 30% of its stores
Popular women's retailer closing 30% of its stores originally appeared on TheStreet. For those of us old enough to have been shopping at malls for decades, it's been awfully strange to watch retailers that have been around forever closing their doors permanently. Perhaps one of the strangest to see go was Forever21, the fast-fashion brand once so popular that people stood in long lines at their retail stores to snap up too-cheap-to-believe deals. 💵💰💰💵 But the company was eventually overtaken by similar low-cost online retailers like Shein and Temu, and eventually had to admit defeat after declaring Chapter 11 bankruptcy twice. It closed the last of its physical locations at the beginning of May, vanishing into the ether as if it never is another mall staple that's been around seemingly forever. But as fewer people flock to department stores to buy clothing and home goods in favor of buying them online or from discount stores like Home Goods, Macy's has been forced to downsize. The company announced in January that it would close 66 of its locations this year as part of a plan to close 150 "underproductive stores" through 2026. So, while it's still afloat, it's obvious that it's struggling in the current climate. You may also see specialty stores like Volcom, Billabong, and Quicksilver disappear from your local mall soon. Parent company Liberated Brands filed for Chapter 11 bankruptcy in February and plans to close 100 locations, although the brands themselves will live on thanks to a well-timed save from an unnamed buyer. Now, another mall staple has announced that it will make major cuts to its locations, which means it may vanish from your local mall soon. Torrid, the plus-sized women's clothing store founded in 2001, announced during its Q1 earnings call that it was planning to downsize its retail footprint due to customer preference for online shopping. 'Digital continues to be our customers' preferred channel, now approaching 70% of total demand," CEO Lisa Harper said during the call. "We're accelerating our transformation to a more digitally-led business, which includes optimizing our retail footprint."Harper went on to say that Torrid will close up to 180 underperforming stores this year, allowing the business to "reduce fixed costs and reinvest in areas that drive long-term growth, including customer acquisition and omnichannel enhancements." The fashion retailer currently operates 632 locations. The majority of the store closures are likely to happen in Q4, according to William Blair analysts Dylan Carden and Anna Linscott in talks with RetailDive. The company also reported a drop in net sales of 5% year over year and a net income drop of more than half, which may also be motivating this move. Torrid, however, sounds prepared to be resilient. "Leveraging the deep connection with our existing customers, of which 95% are engaged in our loyalty program, combined with strategic and targeted acquisition and retention efforts, this digital transformation will position us for efficient and accelerated top and bottom-line growth," Harper said during the earnings call. Harper also said that Torrid plans to refresh 135 stores in Q3, which she called 'low-capital investments with an expected fast return.' Despite only making up a quarter of its sales, Harper told analysts that its brick-and-mortar locations still played an important role for the brand. Stores 'serve as community hubs and immersive brand-building experiences, introducing customers to our brand and sub-brands, offering the dressing room experience, and acting as service centers for purchases made online or in stores,' she said. 'Most importantly, our passionate sales associates bring the brand to life, delivering personalized service that deepens customer connection and drives long-term loyalty.'Popular women's retailer closing 30% of its stores first appeared on TheStreet on Jun 6, 2025 This story was originally reported by TheStreet on Jun 6, 2025, where it first appeared. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
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8 hours ago
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Deer collision leads to insurance nightmare for N.B. woman
As Samantha Anderson headed home to Sunny Corner after Christmas supper in Miramichi last December, a deer jumped in front of her car on a blind hill. All she could do was brace for impact and tell her daughter to do the same. "We've never been in a car accident, so it was petrifying for us," Anderson said. She came to a stop on the opposite side of Route 425, then made sure her eight-year-old daughter was OK. The car was heavily damaged, so Anderson called police and started clearing up debris scattered across the road. What followed was a months-long dispute with an insurance company that has opened the eyes of the single mother, who hopes sharing her tale might help others. Her main lesson: Pay closer attention to what you're signing, do some homework, ask more questions. Anderson said the claim on her regular, required insurance policy was settled within a week after her car was totalled. But she'd also bought a policy, called gap insurance, after being offered it by the dealership where she bought her car. Trying to get that claim approved has been such a struggle, she said, she's now on the verge of filing for bankruptcy. Although she admits she could have been more careful when she bought the policy, her case also raises a question about who gets to sell such insurance. New Brunswick officials say more than 100 dealerships in this province are allowed to sell gap insurance. But across the country in British Columbia, dealerships are forbidden from selling it, because that province feels they're not qualified. Anderson bought the gap policy from an Ontario company called Assureway Protection Corporation at Kaat Auto in Rogersville, which sold her the car, a Mitsubishi RVR, in January 2024. WATCH | 'I've cried through email because they won't answer the phone': The policy was pitched as an option that would provide peace of mind because of the money she'd borrowed to buy the car. If a vehicle is totalled, gap insurance can cover money still owed on a car loan beyond the depreciated value that's covered by the regular insurance policy. Anderson is a social worker for a non-profit and needs a car in her work. She described her Mitsubish as her "dream car," and she wanted to be sure she was covered. But she admitted she did not do much research into the gap policy or the company selling it. "I guess that could be on me," she said. CBC News spoke with Roland Gauvin of Kaat Auto, who said the dealership no longer sells insurance products from Assureway because of problems that employees and customers had getting answers. "I only sell the product," Gauvin when asked if Kaat was responsible for Anderson's troubles. "I'm not responsible." Trying to deal with Assureway was not easy for Anderson. When she called, she was told to make her claim online and was immediately hung up on. On March 13, she received a letter from Assureway saying there were "certain inconsistencies" in her claim, but it provided no details. Five days later, an unidentified Assureway agent asked in an email for photos of the dead deer. Anderson had already sent the company photos of her car in the wrecking yard, with deer hair visible on the vehicle. An insurance company seeking proof of an accident also has access to an accident report, according to RCMP Sgt. Jason LeBlanc. He confirmed police received a call about a deer collision in Strathadam on Dec. 27, but said officers weren't dispatched to the scene because no one was injured and no other vehicles were involved. A staff member did take details of the collision over the phone to complete a report. Emails Anderson sent to Assureway show she's reached out at least 15 times for updates. "I've begged them. I've cried through email because they won't answer the phone." More than five months after the accident, there is still no resolution. "I'm a single mom with three children trying to get by, trying to make a living. I have a really good job, but it needs a car." The gap policy cost Anderson $2,500 for a seven-year term. The car's sticker price was $38,000, but a previous car loan she was still paying off brought the bill up to $48,000, which is what the gap policy was to cover if necessary. Anderson said her main insurance policy paid off about $19,000 after the crash, so she's waiting for the rest to come through from Assureway. "I"m so tired of trying to pry and pry and pry," she said. "Lawyer fees are too expensive and I'm still paying a car payment for a car that's no longer here." CBC News requested an interview with Assureway but received a brief email from an unnamed employee several days later instead. "We have found the claim questionable on several grounds due to irregularities in the claim thus its investigation status," the statement said. "Our investigation is currently underway. [Anderson] is fully aware of this status." The irregularities weren't identified in the email, which went on to say the company would not discuss the matter further for privacy reasons. The day that CBC News tried to talk to Assureway, Anderson got an email from the company for the first time in several weeks. "We are still conducting our investigation. We will update you as soon as possible," the email said. While Anderson wishes she'd asked more questions about the gap policy, there's a public office in New Brunswick just for that purpose. Michèle Pelletier, the New Brunswick consumer advocate for Insurance, said that since 2005, her Bathurst office has fielded about 1,200 calls annually from New Brunswickers with insurance questions. She and her staff answer for free. "There's no silly questions," she said. The office can also be a link between consumers and insurance companies, she said, reaching out to companies directly when consumers aren't getting answers. Pelletier said her office rarely gets questions about gap insurance, but that it's always important for people to read the fine print and ask questions. "It's the language," she said of some policies. "It's not plain language sometimes." Insurance in New Brunswick is regulated by the Financial and Consumer Services Commission, which licenses any dealerships who distribute insurance products, as well as insurers who underwrite the policies. "We've set those in place to protect New Brunswickers. So it's not just anybody that can hang a shingle and say they'll sell insurance," said commission spokesperson Marissa Sollows. The commission confirmed that Assureway is classified as a third-party administrator, which Sollows described as a service provider that goes between a dealership and the actual insurance company underwriting the policy. "And in the event of a claim, the third-party administrator would do the administrative work," she said, adding that paperwork would show a customer the insurance company underwriting the policy. Third-party administrators are not regulated by the commission, Sollows said, but dealerships that offer insurance products such as gap insurance do have to be licensed. The commission confirmed Kaat Auto is licensed to sell insurance. When asked if the fact that third-party administrators are not regulated sets up a loophole for consumers to be exploited, Sollows declined to answer. In an email statement, another commission spokesperson, Morgan Daye, said consumers who purchase from third-party administrators still have potential recourse through the commission. "The Commission has the power to intervene with both the underwriting insurer and with the representative selling the product," Daye wrote. Daye also confirmed that 127 dealerships in New Brunswick are licensed to sell gap insurance. Nowhere on Assureway's website does it say the company is a third-party administrator. Nor is there a mention of another insurance company underwriting the policies. "No smoke & mirrors … just true coverage that SIMPLY WORKS!" the website says. While Anderson is waiting for a decision from Assureway, if she had lived in British Columbia, its rules would have saved her from the situation she faces in New Brunswick. Melinda Lau, a spokesperson for the Insurance Council of British Columbia, confirmed the province has not allowed car dealerships to sell gap insurance since 2017. "GAP products are considered complex insurance products and must be sold by a qualified, fully licensed general insurance agent," Lau wrote in an email statement. Dealerships are only eligible for insurance licences that are "limited in scope" and don't have the same educational requirements as full insurance licences, she said. "The Insurance Council is of the view that it would not be in the public interest for dealerships with limited licences to offer complex insurance products to consumers." Lau went on to say that B.C. does not issue full insurance licences to car dealerships because it could "present a potential conflict of interest." CBC News has asked the New Brunswick Department of Finance, which oversees insurance, whether the province would consider a similar policy as British Columbia. The department directed questions back to the commission. Spokesperson Morgan Daye said the province recently updated requirements for car dealerships selling insurance, requiring them to be "knowledgeable and provide sufficient information to help consumers make informed decisions."
