debt

Coronation Street actress Nicola Thorp has revealed that she has been in tens of thousands of debt for 17 years after struggling to pay off her drama school fees

It’s perhaps every drama student’s dream to become an acclaimed actor in film or TV. But former Coronation Street star Nicola Thorp has revealed the downside to following her passion to work in the arts, as she racked up a £30,000 debt accrued from drama school fees.

The 36 year old ITV former soap star, who landed the role of Nicola Rubinstein, on the iconic TV show back in 2017, admitted to being in debt for 17 years. While on This Morning the actress claimed that students were missing their lectures as they were too tired from working to support their schooling.

Nicola studied at the Arts Educational School in London between 2007 and 2010. When asked by host Ben Shepherd about her school fees, she replied: “Yes I did. I had to pay. I am still in about £30,000 of debt now.” She added: “Even 17 years later.” Left in shock by her answer, Ben said: “And that’s the reality for a lot of these students. They don’t have a choice.”

Nicola played Nicola on the ITV soap for two years and left in 2019. Leaving the acting world behind, she has now become a journalist and presenter.

With regular spots on This Morning over the past six years, she has also co-hosted TalkTV’s Talk Today for four years, ending in 2024.

She has also delved into the world of reality TV as she appeared on Celebrity Hunted alongside her husband Nikesh Patel in 2023. The couple became parents to a baby girl the following year.

Speaking of her daughter she took to social media and wrote: “We are delighted to say that we recently welcomed our beautiful baby daughter into the world.” She added: “Everything they say about birth being a rollercoaster of emotions is true. We’re shattered and smitten and everything in between.”

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Caracas, May 14, 2026 (venezuelanalysis.com) – The Venezuelan acting government announced the formal launch of a restructuring process of the country’s sizable foreign debt.

In a statement published on Wednesday, Caracas promised “comprehensive and orderly” proceedings to renegotiate liabilities owed by the country and state oil company PDVSA.

“This decision has the goal of putting the economy at the service of the Venezuelan people and freeing the country of the burden of accumulated debt,” the communique read. “This is a responsible, nationalist, and social decision.”

Venezuelan authorities added that the country’s resources should prioritize the people’s well-being over “unsustainable financial obligations” and that they seek a “substantial reduction” of the total debt.

Venezuela defaulted on a range of bonds and loans beginning in 2017 as US sanctions severely exacerbated the country’s economic crisis and shut it out of financial markets, making payments impossible. The Nicolás Maduro government had prioritized debt service in previous years as the country’s economy entered a tailspin in hopes of retaining access to international credit.

The sum total of defaulted debts and loans, on top of international arbitration awards, is estimated to be as high as US $170 billion with accrued interest. Liabilities likewise include unpaid loans to China. The restructuring process may be one of the largest in history, surpassing Russia (1998) and Argentina (2001).

According to Business Wire, the government led by Acting President Delcy Rodríguez plans to present its “macroeconomic framework and public debt sustainability analysis” to the international financial community in June. Caracas has reportedly hired Centerview Partners as a financial advisor.

On May 5, the US Treasury Department issued a license allowing the provision of financial and advisory services related to Venezuelan debt restructuring. The sanctions waiver does not allow creditors to transfer or settle debt, nor directly engage with Venezuelan authorities. 

Market analyst S&P Global argued that Venezuela’s debt renegotiation process could face obstacles if some creditors hold out and reject restructuring proposals.

Financial analyst Elías Ferrer Breda called Wednesday’s announcement an expected “formality” and added that the next step will be assessing the actual size of Venezuela’s foreign debt. For his part, political commentator Luis Vicente León argued that the restructuring process will be drawn out but may “restore credibility” before financial markets.

Pramol Dhawan, head of Pacific Investment Management Company LLC (PIMCO) emerging markets team, welcomed Caracas’ “willingness to engage with bondholders.”

“Any durable resolution ​will need to be ​comprehensive and anchored by ⁠a credible macroeconomic framework to give creditors confidence in Venezuela’s capacity to service restructured obligations,” he told Reuters. 

Venezuelan bonds rose again following the latest announcement, continuing a recent upward trend as investors eye windfall returns. Creditors have also met with Trump officials in recent weeks.

Since the January 3 US military strikes and kidnapping of President Nicolás Maduro, the acting authorities led by Delcy Rodríguez have fast-tracked a rapprochement with Washington. The Venezuelan National Assembly has approved pro-business reforms to its energy and mining sectors while the government has struck agreements with multiple Western multinational corporations.

Following the White House’s recognition of Rodríguez as the South American country’s “sole leader,” Caracas reestablished ties with the World Bank and the International Monetary Fund. Venezuelan officials have expressed hopes of accessing around $5 billion in Special Drawing Rights and stated that there are “no plans” to contract IMF loans.

For her part, IMF Managing Director Kristalina Georgieva stated that the Washington-based institution is willing to support a loan program for Venezuela but requires clarity on economic data and external debt.

In April, Rodríguez established a commission tasked with assessing the “strategic” value of Venezuelan state assets and their possible privatization, with private sector conglomerates already raising funds ahead of potential sell-offs.

Edited by Lucas Koerner in Caracas.

Caracas, May 6, 2026 (venezuelanalysis.com) – The US Treasury Department has issued a sanctions waiver allowing the provision of services related to the restructuring of Venezuelan debt.

General License 58 (GL58), issued on Tuesday, authorizes the provision of “legal, financial advisory, and consulting services” to the Venezuelan government and state oil company PDVSA in relation to “potential restructuring of debt” owed by the Venezuelan state, PDVSA, and PDVSA affiliates.

The license does not allow creditors to transfer or settle debt, nor directly engage with Venezuelan authorities. It additionally forbids any payment to consultants using cryptocurrencies or gold.

The Trump administration’s latest move is a necessary step to locate creditors and assess the size of Venezuela’s foreign debt, estimated to be as high as US $170 billion, split between defaulted bonds, unpaid loans, and international arbitration awards.

Venezuelan bonds, which have steadily increased in value in recent months, rallied again on Tuesday as investor confidence in a restructuring deal grows. Bonds that fell below 10 cents on the dollar are currently trading between 40 and 60 cents on the dollar. Creditor groups have also held meetings with the Trump administration as they seek to engage Caracas.

Though the Nicolás Maduro government prioritized debt service after the Venezuelan economy fell into deep recession after 2014, US economic sanctions beginning in 2017 accelerated the economic tailspin and shut Venezuela out of financial markets, making debt payments impossible. The defaulted state and PDVSA bonds, estimated at around $66 billion, have been accruing interest ever since.

The Venezuelan government, led by Acting President Delcy Rodríguez, has not publicly disclosed plans regarding the country’s external debt. In March, the Trump administration recognized Rodríguez as Venezuela’s “sole leader,” clearing another hurdle for creditors. 

Rodríguez, who previously served as vice president, took over the presidency following the US kidnapping of Maduro on January 3. In the four months since, the acting administration has fast-tracked a diplomatic rapprochement with Washington. Trump officials have made multiple visits to Caracas and have been hosted at the presidential palace.

In parallel, Venezuelan authorities have advanced multiple pro-business legislative reforms in a bid to attract foreign investment in sectors such as energy and mining. Projects to change the Caribbean nation’s labor, tax, and housing laws are currently underway. 

In parallel, Rodríguez has installed a commission to assess the “strategic” value of Venezuelan state assets and their possible privatization. The Cisneros Group, one of the country’s largest private sector conglomerates, has announced plans to raise funds ahead of potential sell-offs of state assets.

Caracas also reestablished ties with the International Monetary Fund (IMF) and the World Bank in April. Economy Vice President Calixto Ortega was recently appointed as the country’s representative before the IMF. Venezuelan leaders have stated that their priority is to access around $5 billion in IMF-issued Special Drawing Rights to address urgent needs in public services and infrastructure.

Rodríguez has stated that there are “no plans” to contract an IMF loan, though a debt-restructuring agreement would place a significant burden on Venezuelan finances. The government’s budget for 2026 was estimated at around $20 billion.

For her part, IMF Managing Director Kristalina Georgieva stated that the Washington-based institution is willing to support a loan program for Venezuela but that clarity on economic data and external debt is a necessary prior step.

Edited by Lucas Koerner in Caracas.

LEONARDO DiCaprio is facing business woes as the trendy vegan shoe brand he backed continues to haemorrhage millions.

The star’s favoured label has been left relying on cash injections from wealthy investors to keep it afloat.

British shoemaker LØCI, in which Leo is a key investor, makes 100% cruelty-free trainers using recycled bamboo, foam and rubber.

Each £160 pair reuses up to 20 plastic bottles recovered from the Mediterranean and the east coast of Africa.

The brand has proved popular with celebrities including Ben Affleck, Mila Kunis and Eva Longoria, while fellow investor Nicki Minaj has her own range.

But following Leo’s investment, the firm’s finances took a nosedive and it now has just £7,355 listed as “cash at bank and in hand”.

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Newly released accounts for Wild Loci Ltd also show accumulated losses of £2,904,888, while the company owes £931,130 to creditors.

The figures, filed this week, reveal the business is being propped up by investment totalling £5,170,947.

That leaves it with equity of £2,280,760 despite the significant losses.

The company also risks being struck off by Companies House after filing its accounts late for two consecutive years.

It has also been late submitting its annual “confirmation statement”, a legal requirement.

The government website warns: “Not filing your confirmation statements, annual returns or accounts is a criminal offence – and directors or LLP designated members could be personally fined in the criminal courts.”

Currently, the brand is offering dozens of shoes at half price, including the “Origins” trainer, which features a “natural cork and recycled foam insole”.

All of Nicki Minaj’s range is also heavily discounted, including the “Barbie Dangerous” and “Itty Bitty Piggy” sneakers.

At the time of Leonardo DiCaprio’s investment, founder Emmanuel Eribo said: “He’s an absolute star and sees the world the same way we see it. It’s been an absolute blessing having him on the team. You can’t ignore it’s a British brand and he’s betting on it.

“He didn’t need to do this, there’s definitely something in there that is tugging on him.

“If I could say things about Leo, I’d probably use two words: genuine and kind. You can care about the world and still want good things.”

At the time, Leo said he was “proud” to be an investor, adding: “I am proud to be an investor in LØCI, a brand dedicated to minimising its environmental impact, and centred around creating cruelty-free, ethical footwear.”

LØCI have been approached for comment.

April 17 (Asia Today) — Corporate loan delinquency rates in South Korea are rising three times faster than household debt, increasing pressure on banks as lending expands, financial data showed Thursday.

According to the Financial Supervisory Service, the delinquency rate on corporate loans at domestic banks reached 0.76% at the end of February, up 0.09 percentage points from a month earlier and 0.08 points from a year earlier.

By comparison, the household loan delinquency rate rose 0.03 percentage points from the previous month to 0.45%, highlighting a much steeper increase in corporate defaults.

The corporate delinquency rate marked its highest level in nine months. Small and medium-sized enterprises recorded a rate of 0.92%, with small corporations at 1.02% and sole proprietors at 0.78%, indicating rising stress across the sector.

Delinquency rates among large corporations also increased, reaching 0.19% – the highest level in 28 months – suggesting that financial strain is spreading beyond smaller firms.

The trend comes as banks expand corporate lending under policies aimed at boosting “productive financing.” Outstanding corporate loans at the country’s five major commercial banks totaled about 859.8 trillion won ($573 billion) as of the end of March, up roughly 15.0 trillion won ($10 billion) in three months.

Loans to small and medium-sized enterprises accounted for about 79% of the total, while large corporate loans made up about 21%.

Regulators said rising delinquencies are most pronounced among smaller firms but warned that broader economic uncertainty could push default risks higher across the corporate sector.

Banks are responding by tightening risk management while maintaining lending growth. Major lenders are strengthening oversight from initial loan screening to post-loan monitoring, using systems such as early warning tools and AI-based credit assessments to identify high-risk borrowers.

Industry officials said the combination of expanding corporate lending and rising delinquency rates is rapidly increasing the burden on banks to maintain asset quality.

— Reported by Asia Today; translated by UPI

© Asia Today. Unauthorized reproduction or redistribution prohibited.

Original Korean report: https://www.asiatoday.co.kr/kn/view.php?key=20260417010005508

Americans could be forgiven if they’re unaware that President Trump recently performed one of his most essential tasks and sent his annual budget request to Congress, though months late and stunningly incomplete.

After all, so much else has been dominating the news lately: the Mideast war that Trump promised not to start. Price rises he’d vowed to end. His repeated insults of Pope Leo XIV. His portraying himself as Jesus Christ, then lying about having done so. An incompetent attorney general to fire. And the president’s actual priorities — plans for a $400-million White House ballroom and a massive “Triumphal Arch” nearby!

It’s a lot.

Once again, as in Trump’s first term, the public and press are inattentive to the nation’s fiscal health relative to past years. But that reflects the president’s own disengagement with reconciling spending and revenue — this from a president many Americans voted for based on his purported prowess as a businessman. For decades back to Ronald Reagan’s time, so-called deficit wars in Washington were a big story. Now, even Republicans in Congress complain of Trump’s absence from the fiscal fray as they struggle to belatedly finish this year’s budget work that was due last fall, and to end a weeks-old partial government shutdown, before turning to the budget for the fiscal year starting Oct. 1.

Yet it’s worth paying attention to U.S. budgets even if Trump won’t, for the sake of our children and grandchildren who’ll inherit the bills. In one document, a federal budget reflects the nation’s priorities. And these days, in the perennial guns-versus-butter debate, Trump has made his feelings all too plain.

“We’re fighting wars,” he told a group at the White House on April Fools’ Day. “We can’t take care of day care … Medicaid, Medicare, all these individual things.”

Forget that Trump swore to end wars. Or that last year, long before he went to war against Iran, he cut $1 trillion over 10 years from Medicaid and other healthcare programs in his misnamed “One Big Beautiful Bill.”

Yes, budgets can be boring, especially to a president with a famously short attention span. Trump and many of us Americans are distracted constantly by all the shiny objects he throws at the national consciousness by his words, acts and social media postings at all hours.

Yet the budgetary trend is clear to anyone bothering to look: As president, Trump is once again exacerbating the nation’s unsustainable course of piling up debt. According to the nonpartisan Congressional Budget Office, among other credible sources, debt is now approaching the highest level in U.S. history, which was reached during World War II. It already surpasses the size of the entire economy and threatens higher borrowing costs and reduced investments.

For all the achievements Trump likes to claim — ending eight wars in a year! — here’s one that’s real: He is on a path to break his own record for the most debt in a single presidential term, $8.4 trillion in Trump 1.0, which was nearly double the increase under President Biden.

Need further proof of Trump’s brazen mendacity? Of course you don’t, but here it is: In the face of the well-documented budget record, Trump declared both this year and last year to a joint session of Congress, on national television, that he would balance the federal budget —“overnight,” he said in February.

The inequitable tax cuts and big spending increases for the military and immigration crackdowns that Trump and the Republican-controlled Congress enacted last year are significantly greater than in his first term, and are driving up the debt despite Republicans’ deep healthcare cuts. Just months after Trump took office, the ratings firm Moody’s downgraded the nation’s sterling credit rating for the first time in more than a century.

And now, in his new budget request, Trump seeks to inflate military spending from under $1 trillion when he regained office to $1.5 trillion, for the biggest year-to-year increase in military budgets since World War II.

This fiscal irresponsibility is happening at the worst possible time. For the last quarter of the 20th century, presidents and Congresses of both parties annually debated how to reduce deficits and several times reached consequential multi-year deals, culminating during the second Clinton term in four straight years of surpluses. (Those surpluses ended — wait for it — with Republicans’ tax cuts and war spending during the George W. Bush administration.)

Politicians back then were moved not just by the deficits of their time — deficits that, as a share of the economy, were less than half what they are now. They also were responding to experts’ warnings of a demographic tsunami by the 2020s: With the aging of the huge baby-boomer population, spending for Social Security, Medicare and Medicaid would greatly increase even as the workforce whose payroll taxes support those programs shrank. Today the number of people 65 or older is almost three times what it was 50 years ago, and rising.

This reckoning is upon us, though you wouldn’t know it as Trump keeps calling for cutting revenue and spending more for lawless wars, immigration raids and monuments to himself. Barring bipartisan action, in 2033 Social Security’s retirement fund and Medicare’s hospital fund will no longer be able to cover beneficiaries’ full claims, according to their trustees’ annual report, necessitating reduced benefits or shifts of money from other worthy programs.

Trump did put Vice President JD Vance in charge of a “war on fraud.” But that holds about as much promise as Elon Musk’s fiscal fiasco — remember DOGE? — that cost money instead of cutting $2 trillion as promised.

Like other problems, Trump likely will leave the fiscal follies to his successor, who, should he or she win two terms, would preside as Social Security and Medicare become insolvent. I’ve yet to hear any of the early 2028 presidential aspirants — or Trump — address or be asked about that.

Let the debate, belatedly, begin.

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