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Tag: cash

Diwali drained Rs 50,000 crore cash from banks

Diwali drained Rs 50,000 crore cash from banks

Finance
Close to Rs 50,000 crore moved out of banks as Indian accountholders withdrew wads of cash ahead of Diwali. According to data released by the RBI, currency in circulation shot up to Rs 20.2 lakh crore as on November 9 — an increase of Rs 49,418 crore in the Diwali week, the highest growth ever outside the demonetisation period. The biggest weekly increase in currency in circulation was in the week ending January 13, 2017, which saw an additional Rs 52,786 crore flow out of banks as currency presses worked overtime to replace demonetised notes. After demonetisation, the year-on-year growth in currency in circulation had been negative for 53 weeks. The currency in circulation recovered to pre-demonetisation level of nearly Rs 18 lakh crore in March this year. While there were indications tha
No more cash! 'Broke' Kardashian BEGS courts to reduce monthly payouts

No more cash! 'Broke' Kardashian BEGS courts to reduce monthly payouts

Entertainment
The Kardashian family net worth ranges from $ 900 million (£693 million) to $ 10 million (£7.7 million).While Kylie Jenner has a whopping empire with her beauty business, solo show and Keeping Up With the Kardashians, her other siblings haven't been quite so lucky.One in particular, is her older brother Rob Kardashian, who is struggling to dish out money for his daughter.He pays a whopping $ 20,000 (£15.5k) a month in child support for his two-year-old, Dream. Related Articles Paying the money to his ex girlfriend, Blac Chyna, he reportedly can't keep up with the hefty payments.According to TMZ, Rob has said he's "basically broke" and can't continue to pay.Although he agreed the cost in September 2017, Chyna's lawyer, Lisa Bloom, admitted they...
Patisserie Valerie saved by cash injection

Patisserie Valerie saved by cash injection

Business
Patisserie Valerie has been saved from collapse after entrepreneur Luke Johnson, who owns 37% of the company, provided £20m in loans to the struggling chain.Mr Johnson agreed to lend £10m for three years to owners Patisserie Holdings plc, which the company said would provide "immediate liquidity".He has also provided a further bridging loan facility of up to £10m.The firm said it had also raised another £15m by issuing new shares. The directors said the company had required an immediate cash injection of no less than £20m, without which it could not continue trading in its present form.The cafe chain has been fighting for survival after revealing on Wednesday it had uncovered "significant, and potentially fraudulent, accounti...
Prepare for cash crunch if no Brexit deal – defence body

Prepare for cash crunch if no Brexit deal – defence body

Business
The Treasury should prepare emergency measures to ease a cashflow crisis that could hit companies in the event of a "no-deal" Brexit, the leading body representing Britain's aerospace and defence industry has told Philip Hammond. Sky News has seen a letter from ADS, the trade association which counts Airbus and Rolls-Royce among its members, in which its chief executive urges the chancellor to ensure that there is sufficient liquidity to prevent companies being punished for "dipping into their overdraft or for breaching loan covenants".The call from Paul Everitt for the Treasury to begin contingency planning with banks and other lenders in order to avert a cashflow squeeze reflects growing anxiety across manufacturing industries about the ramifications of no deal being agre...
Evans Cycles seeks new owner amid cash crunch

Evans Cycles seeks new owner amid cash crunch

Business
Evans Cycles has put itself up for sale as it seeks fresh funding amid tough High Street trading conditions. The BBC understands PwC is in talks with a number of potential buyers for the bike store chain, which has more than 60 outlets in the UK.The consultancy has asked for final bids by the end of next week, but Evans is not thought to be seeking a rescue deal. PwC declined to comment and Evans did not respond to requests for comment. Concerns over the retailer's financial position first emerged in September, when Sky News reported the chain was seeking an emergency cash injection from its lenders. Last Maplin stores close their doors Toys R Us shops to close down Like other retailers, Evans has struggled with the recent slow...