NEW YORK—Early in the pandemic, there were encouraging and surprising signs about the decline of credit card debt. Now, that trendline seems to be changing. Many Americans stayed at home at the start of COVID-19 and did not spend like they usually do. They also received several rounds of emergency cash assistance, helping to chop…
NTD News Today Full Broadcast (Sept. 28)
Top U.S. military leaders are going before the Senate today, to face questions about what exactly happened in Afghanistan, and what led to the deaths of 13 U.S. service members. Democrat leaders are back to negotiating after losing a Senate vote. They have to find another way to keep the government operating before funding expires….
HSBC CEO Sees Market Impact From Evergrande Debt Woes
September 23, 2021
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Business & EconomyChinaChina Business & EconomyCompaniesdebtEconomiesevergrandeHK BusinessHong KongHSBCimpactmarketMarketsUKWorld
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HSBC Holdings PLC expects the debt problems involving embattled property developer China Evergrande Group to have an impact on capital markets but does not see any direct impact on the bank, its group CEO said. “I’d be naive to think that the turmoil in the market doesn’t have the potential to have second-order and third-order…
Canadians Have High Debt Loads, and Most of It Is for Housing
Canadians are spending record amounts on housing, putting themselves at much higher risk than before should home prices collapse or interest rates rise. Canada’s seasonally adjusted annual rate of residential investment, which includes home construction, significant renovations, and ownership transfer costs, hit $249.3 billion in the second quarter of 2021, with $67.9 billion spent during…
US Treasury’s Yellen: Debt Default Would ‘Permanently’ Weaken America
September 20, 2021
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AMERICABusiness & EconomydebtdefaultEconomieseconomyExecutive BranchJanet YellenPoliticsUSUS Newsweaken
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WASHINGTON—U.S. Treasury Secretary Janet Yellen issued a fresh plea for Congress to raise the federal debt ceiling on Sunday, arguing a default on U.S. debt would trigger a historic financial crisis. In a Wall Street Journal opinion piece, Yellen said that the crisis triggered by a default would compound the damage from the continuing coronavirus…
Sears Announces It’s Shutting Last Store in Home State of Illinois
Sears is shutting its last store in Illinois, its home state, the company announced this week. The store, located in Woodfield Mall, is scheduled to shut its doors on Nov. 14, as part of a corporate plan to “redevelop and reinvigorate the property,” the Daily Herald reports. A spokesperson for Sears’ parent company, Transformco, said they will still…
Analysis: Clashes Over Taxes, Debt Limit Challenge Rally in US Stocks
NEW YORK—Investors are ramping up their focus on Washington, as the twin prospects of a tax hike and a potentially prolonged fight over raising the debt ceiling loom over a rally in U.S. stocks. Democrats in the U.S. House of Representatives on Monday proposed raising the top tax rate on corporations to 26.5 percent from…
China Evergrande Debt Woes Raise Financing Pressure on Peers
SHANGHAI—The Evergrande Group’s struggles to quickly sell off assets and avert defaulting on its $305.3 billion in liabilities is raising the risk of contagion for other privately-owned developers and fund managers analysts say. Worries over the ability of China’s second-largest property developer to make bank loan interest and wealth management product payments have led to…
Work First, Play Later
Dear Dave, I brought about $15,000 in student loan debt into our marriage. I’m 26, my wife is 27, and we’ve been married a little over a year. During that time, our parents have helped us out with financial gifts occasionally. Whenever this happens, my wife and I get into an argument. She likes to…
EU Ministers Want EU Budget Rules to Support Investment, Realistic Debt Cuts
BRDO, Slovenia—European Union finance ministers said on Friday that changes to EU budget rules, now under review, should support investment in the post-pandemic economy and allow for a more realistic path in cutting huge public debt. Finance ministers from the 27-nation bloc will begin discussions during a two-day meeting in the Slovenian town of Brdo…
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