Latest news with #interestpayments
Bloomberg
02-06-2025
- Business
- Bloomberg
EchoStar Bond Woes Grow as Dish Network Interest Payment Skipped
EchoStar Corp., the wireless and pay-TV operator controlled by billionaire Charlie Ergen, has decided to skip interest payments on three bonds after a similar act late last week. A total of $183 million interest payments due Monday on several bonds related to its pay-TV operator unit Dish Network Corp. will not be paid, according to a regulatory filing. The company cited 'uncertainty' raised by the Federal Communications Commission review. The company has been tied up in a regulatory probe over its compliance with obligations to build a nationwide 5G network.
Bloomberg
01-06-2025
- Business
- Bloomberg
New World's Bond Coupon Delay Raises Three Questions
In the bond world, not calling a perpetual is bad. But not repaying coupon? That's way worse. Hong Kong-based New World Development Co.'s decision to defer interest payments on four perpetual notes took investors by surprise. While this is by no means an action of default — a perpetual resembles an equity when business conditions get tough — it's nonetheless a highly unconventional move.
Bloomberg
22-05-2025
- Business
- Bloomberg
Gold Holds Decline as US Government Debt, Dollar Make Gains
Gold steadied after its first decline this week, as some traders turned to long-term US government bonds and the dollar instead of the precious metal. Bullion traded near $3,300 an ounce, after reversing gains made earlier Thursday, and is still up almost 3% this week following haven buying in the wake of Moody Rating's US downgrade. The world's biggest economy faces a precarious fiscal situation, with a growing debt pile and rising interest payments, which could lead to higher borrowing costs and make it harder to reduce the deficit.
Telegraph
21-05-2025
- Business
- Telegraph
Reform rows back on £90bn tax cut pledge
By paying interest on those reserves at the current base rate of 4.25pc, the Bank – and ultimately the taxpayer – is funnelling billions of pounds in interest to commercial lenders, which hold the money. Mr Tice said: 'I don't think the taxpayer should be shafted by paying voluntary interest that enriches city institutions. 'It's a transfer of wealth from the taxpayer to rich city institutions and their wealthy customers. And I just think it's wrong.' Critics of Reform's policy say abolishing interest payments would amount to a default. Andrew Bailey, the Bank of England Governor, has also warned that ceasing interest payments could damage the Bank's ability to keep inflation under control by influencing interest rates. Even QE's harshest critics, including Sir John Redwood, the head of the No10 policy unit under Margaret Thatcher, have branded the move a bank tax.
