Business
Power victory is in the can for Two by Two Brewing – The Crusader | The Crusader | Finance
Bold, punchy and vibrant – the premium beers produced by Two by Two Brewing, along with a dazzling taproom, have won legions of fans.
However its repeated efforts to sort out a recent energy bill problem fell flat.
Getting a debt collector’s letter after that, despite having already paid, did not go down well with the Newcastle family firm either.
But now it’s cheers all round after the payments were sorted out in a fair manner, with a special toast to the craft brewer’s company secretary Rod MacLeod, father of managing director Robert.
It was Rod who contacted Crusader to ask for help after hitting a brick wall with energy supplier ScottishPower.
He had also contacted its collection agency LCS which had correctly referred him back to the power provider.
Thanks to Rod’s immaculate record-keeping and timeline, getting to the bottom of what had gone was much easier for everyone involved.
A combination of problems led to the dispute over £112 that surfaced as the company changed units and supplier this year.
The crux of the matter concerned overpayment on its electricity account that was made in a communicatons overlap just before moving, plus an estimated charge for gas, even though Two by Two did not use gas.
Rod was also unhappy with the late payment and debt referral charges, asking: “How can these be right and reasonable when we have made a duplicate payment? I have done everything in my power to provide an explanation with evidence. My points seemed to have been looked at in isolation so getting continuity was difficult.”
Every penny counts for a small business and aside from fairness, settling the matter was essential for keeping the brewer’s accounts in order.
Since we highlighted the problem however, wires have been uncrossed and action has been taken regarding the payments and the final bill.
Two by Two has received the outstanding monies due, plus a £50 goodwill gesture. It has also been confirmed that no default note has been placed on the account.
When consumers and businesses receive a debt demand that is then dropped, it is always vital for them to check their credit rating too to ensure there are no adverse marks.
A spokesperson for ScottishPower said: “We’re sorry for the inconvenience Mr McLeod has experienced.
“We have resolved the issue, closed his account and have made a goodwill payment in recognition.
“We appreciate his patience whilst we worked on a resolution.”
Crusader has received warm thanks from Two by Two.
We were delighted to help the brewery, whose cans and unit are a sight to behold, featuring standout Latin-style graphics as stunning as their seasonal beers, which have unique flavours showcasing hops from around the world.
The government has extended the validity of the Credit Guarantee Scheme for Microfinance Institutions-2.0 (CGSMFI-2.0) until August 31, 2026, or until guarantees worth Rs 20,000 crore are issued, whichever comes first.
It has also approved an increase in the maximum loan limit for large sized NBFC-MFIs and MFIs from Rs 300 crore to Rs 1,000 crore under the overall ceiling of 20% of assets under management, according to an official release.
The scheme aims to strengthen credit flow to the microfinance sector by providing guarantee cover through the National Credit Guarantee Trustee Co. against expected losses on lending by banks and financial institutions to NBFC-MFIs for onward lending to small borrowers.
As of now, loans totalling Rs 770 crore have been sanctioned under the scheme, reflecting early traction since its launch on March 20, 2026.
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The extension and enhancement in loan limits are expected to improve utilisation of the scheme and support higher credit flow to the NBFC-MFI ecosystem, thereby expanding access to affordable credit for small borrowers across the country.
The government has also retained key risk sharing provisions under the scheme, including guarantee coverage of 80 percent of default amount for small MFIs, 75 percent for medium entities and 70 percent for large NBFC-MFIs, along with a guarantee fee of 0.50 percent per annum on sanctioned amounts in the first year and on outstanding thereafter.
Interest rates under the scheme remain capped at EBLR or MCLR plus 2 percent per annum, while on-lending norms ensure lower borrowing costs for end microfinance customers.
ALSO READ: India Infrastructure Lender Seeks Dollar Loan After RBI Move
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Elon Musk’s SpaceX has attracted over $250 billion in investor demand for its initial public offering (IPO), far above the $75 billion the company is aiming to raise, Reuters reported on Wednesday, citing sources privy to the development.
The IPO, seen as the world’s biggest-ever, has recorded subscription of four times the original ask. According to reports, wealth funds based in Saudi Arabia and Kuwait have placed orders ranging from $1 billion to $5 billion each.
According to Reuters, SpaceX is still in the middle of its marketing campaign. SpaceX President Gwynne Shotwell and finance head Bret Johnsen were scheduled to attend a lunch meeting with roughly 300 institutional investors on Tuesday at Morgan Stanley in downtown Manhattan, which was hosted by Morgan Stanley Co-President Dan Simkowitz, Reuters reported.
Rather than final allocations, which will be determined at pricing, subscription levels show indications of interest.
ALSO READ: Starlink’s India Launch Hits Security Roadblock Before SpaceX IPO
In its roadshow presentation and IPO documents, SpaceX highlights the strength of its Starlink internet business as well as the distinctive character of its rocket-launching business, which it claims has been responsible for the majority of mass launched into orbit over the last three years.
Additionally, SpaceX highlighted a $23 trillion market potential, which the company linked to its artificial intelligence capabilities.
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Business
India’s Outward FDI Slumps To $4.49 Billion In May As Equity Investments Tumble, RBI Data Shows
India’s total outward foreign direct investment commitments declined 49.02 per cent month-on-month to USD 4.49 billion in May 2026 from USD 8.84 billion, mainly due to lower equity investments, loans, and guarantees issued by Indian companies, according to RBI data.
However, total financial commitments by Indian entities under overseas investment increased 34.6 per cent year-on-year in May 2026 from USD 3.34 billion, data showed.
Equity investments abroad dropped sharply to USD 1,247.82 million in May from USD 3,537.35 million in April, marking a decline of about 64.72 per cent.
Overseas loans extended by Indian companies also declined to USD 632.12 million in May from USD 1,299.69 million in April.
Guarantees issued, which formed the largest component of overseas commitments, fell to USD 2,608.83 million in May from USD 3,999.79 million in April, declining around 35 per cent. However, it increased from USD 1,122.37 million in May 2025.
In the equity investment segment, Indovida India invested USD 673.2074 million abroad, Tata International of USD 130 million, Arvind Advanced Materials of USD 58 million, and ONGC Videsh Rovuma of USD 31.09 million, RBI data showed.
ALSO READ | RBI Permits Banks To Lend Only To SEBI-Registered REITs; 80% Cash Positive Assets Must
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