NEW YORK—Credit risk indicators flashed red on Monday, as investors worried about contagion risks across corporate debt markets after the collapse of Silicon Valley Bank (SVB) and New York’s Signature Bank in the space of 72 hours. An index of credit default swaps (CDS) on U.S. investment-grade companies rose to 90.2 basis points, its highest…
Reader Discovers It’s Difficult to Pay the Balance to the Penny
Dear Cheapskate: This is petty perhaps, but how does one ever completely pay off a credit card account? We paid off a credit card recently (Hallelujah!) by sending a check for the exact amount of the balance due taken from the monthly statement. The following month we received a bill for $1.91—all of it a…
GM Wants US Treasury to Reconsider Tax Credits for Cadillac Lyriq EV
WASHINGTON—General Motors said Friday it wants the U.S. Treasury to reconsider classification of GM’s electric Cadillac Lyriq to allow it to qualify for federal tax credits. The Treasury and Internal Revenue Service did not classify the Lyriq as an SUV, meaning its retail price cannot be above $55,000 to qualify for up to $7,500 in…
European Retailers Downbeat Despite Black Friday Boost
BERLIN/AMSTERDAM/MILAN—Europeans snapped up smartphones, Christmas decorations, sweaters, and jewelry during a surge in shopping over the Black Friday weekend, though prospects for the festive season remained gloomy, retailers said. A survey of 400 businesses by Germany’s HDE retailers’ association showed just over half of merchants said they were still dissatisfied with sales last week, versus…
Book Review: ‘The Economy of Promises: Trust, Power, and Credit in America’
Bruce G. Carruthers, the John D. MacArthur professor of sociology at Northwestern University, has written a new book entitled “The Economy of Promises: Trust, Power, and Credit in America.” In his book, Carruthers thoroughly presents the history of America’s credit economy, going back to the beginning of the republic to modern times. This will indeed…
Vermont Announces Bonus Round of State Tax Credits
A bonus round of funding has been added to a Vermont program designed to breathe life into downtowns. The Vermont Agency of Commerce and Community Development says $800,000 in state income tax credits are being made available beginning next year for projects designed to enhance the state’s history while improving building safety at aging historic…
Credit Suisse Shares Slip Despite Moves to Soothe Investor Concerns
October 3, 2022
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ZURICH—Credit Suisse shares slid by as much as 11.5 percent and its bonds hit record lows on Monday amid concerns about the bank’s ability to revamp its business and bolster its capital after a string of losses precipitated a strategy reboot. Chief Executive Ulrich Koerner last week told staff that Credit Suisse, whose market capitalization…
Credit Card Holders Are Struggling to Make Payments: Why the Biggest Losers Are Goldman Sachs, Apple Pay
Big credit card issuers have released data for delinquency and charge-offs for the month of August, lending a glimpse into the latest spending habits of Americans. With prices soaring due to high levels of inflation—at 8.3 percent for August—some consumers have turned to credit cards in an effort to complement their increasingly limited budgets, while…
How Can I Build Credit?
Financial success is largely determined by your credit score. After all, having good or excellent credit will lower your interest rates, access perks like rewards, and gives you more negotiating power. And, it can also give you more opportunities to build your credit. What if you have poor credit? Well, for the 16 percent of Americans with a…
Rhodope Heroine—Original Song by Vesislava
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