A major lender abroad, China is facing a debt bomb at home: trillions of dollars owed by local governments, their financial affiliates, and real estate developers.
Category: Credit and Debt
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How People in the Queer Community Think About Personal Finance
The cost of family planning and transition care — and other personal finance stories from L.G.B.T.Q. people.
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Ford’s Battery Joint Venture to Get $9.2 Billion Government Loan
The money will help finance three plants the automaker and its partner, SK On, are building in Kentucky and Tennessee.
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Student Loan Pause Is Ending, With Consequences for Economy
Three years of relief from payments on $1.6 trillion in student debt allowed for other borrowing and spending — and will shift into reverse.
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Overdraft Fees Are Dwindling, Study Finds
But the share of people paying the fees remains unchanged, and they’re often among the most financial vulnerable.
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What Fed Interest Rate Moves Mean for Mortgages, Credit Cards and More
Savers benefit from higher rates, but borrowers have faced bigger bills on credit cards, student loans and other forms of debt.
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‘Do You Even Want Us to Exist?’ A Bank Chief Fights to Survive.
The banks at the center of the recent crisis, like Western Alliance, are engaged in collective soul-searching.
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WeWork Faces More Turmoil After Its CEO Departs
The company’s top boss, a real estate industry veteran, abruptly left in May after growing frustrated with SoftBank, its largest shareholder and lender.
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The High Cost of Bad Credit
Desperate to improve their ratings, Americans now spend billions on “credit repair” — but the industry often can’t deliver on its promises.
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World Bank Projects Weak Global Growth Amid Rising Interest Rates
A new report projects that economic growth will slow this year and remain weak in 2024.
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New World Bank President Ajay Banga Leads at a Pivotal Moment
The incoming president will be under pressure to juggle the global institution’s ambitions to combat climate change and fight poverty.