Category: Credit and Debt

China’s Economy Grew Last Year, but Strains Lurk Behind the Numbers

Gross domestic product expanded 5.2 percent, as China worked to export more to make up for weak demand, high debt and a steep property contraction at home.
Lugging Credit Card Debt Into 2024? Now’s the Time to Make a Plan

Most Americans with card debt have not outlined a way to bring it down, a new report says. There are ways to get help.
U.S. and Europe Eye Russian Assets to Aid Ukraine as Funding Dries Up

Despite legal reservations, policymakers are weighing the consequences of using $300 billion in Russian assets to help Kyiv’s war effort.
Americans May Be Taking on Too Much Pay Later ‘Phantom Debt’

Buying mattresses, clothes and other goods on installment plans has propped up spending, but economists worry that such loans could put some people at risk.
World Bank Warns Record Debt Burdens Haunt Developing Economies

Surging interest rates and waning financing options threaten a “lost decade” for poor countries.
Yellow Rejects a Bid to Restart Trucking Company

In a letter, Yellow’s management said an effort to buy the company and revive its operations by an executive from a different trucking firm was “not viable.”
China Evergrande May Finally Meet Its End in Hong Kong Court

A Hong Kong judge could set in motion the liquidation of the property developer, which was once considered one of China’s most successful companies.
Corporate America Has Dodged the Damage of High Rates. For Now.

Small businesses and risky borrowers face rising costs from the Federal Reserve’s moves, but the biggest companies have avoided taking a hit.
Moody’s Changes U.S. Credit Outlook to ‘Negative’

Moody’s reaffirmed America’s credit rating at the highest AAA level but expressed concern about the nation’s fiscal trajectory amid congressional dysfunction.
Fed Chair Recalls Inflation ‘Head Fakes,’ Pledges to Do More if Needed

Jerome H. Powell, the Federal Reserve chair, said officials will proceed carefully. But if more policy action is needed, he pledged to take it.
Mint, One of the First Budgeting Apps, Is Shutting Down

Intuit, which acquired Mint in 2009, is encouraging users to switch to Credit Karma, its money management and credit score service.
Are Higher Rates Slowing the Economy? A Zoo Offers Clues.

Economists are surprised by how strong the economy remains with rates at a 22-year high. But there are some signs of slowing, if you know where to look.