The world’s debt has surged to a record high level in the second quarter, according to the Institute of International Finance (IIF). The increase has also helped lift the global debt-to-GDP ratio which had been declining for seven quarters but is now projected to reach 337% by the end of this year. Major Markets Behind […]
As many as 69 American firms defaulted on their debt during the first eight months of the year, marking a 176% jump from the same period of 2022, according to data from S&P.
Janet Yellen, like Paul Krugman and Larry Summers, is optimistic that the inflation threat is over and the US economy can avoid a recession.
Global debt hit a record $307 trillion in the second quarter of the year despite rising interest rates curbing bank credit, with markets such as the United States and Japan driving the rise, the Institute of International Finance (IIF) said on Tuesday. The financial services trade group said in a report that global debt in […]
(This Sept. 8 story has been refiled to add clearer shutdown figures in paragraph 4) (Reuters) – Large swaths of the U.S. government could temporarily close on Oct. 1 if Congress does not approve spending bills due to a dispute between far-right Republicans and other lawmakers. Here are some facts about U.S. government shutdowns: WHY WOULD THE GOVERNMENT SHUT DOWN? Congress must allocate funding to 438 government agencies each fiscal year, which ends on Sept. 30. If lawmakers don’t pass those...
China is facing a storm of challenges that could bring down its mighty empire in a decade, according to geopolitical expert Peter Zeihan.
Imprisonment for unpaid debts might seem Dickensian, a relic of harsher times. But thousands of people serve jail time each year in the U.S. for failure to pay fines, fees, and other court costs, often resulting from lower-level violations such as traffic tickets.
ViewThe United Auto Workers, the union representing nearly 150,000 workers at Ford, General Motors and Stellantis, continues to move closer to a strike.The threat of a strike comes after GM and Ford reported record profits last year, with workers demanding what they say is their fair share.Their demands include: A pay increase of about 40%, a 4-day work week, health care for retirees, cost-of-living raises and getting rid of a two-tiered wage structure, which keeps pay lower for newer workers....
While cars, airplanes and factories are busy spewing carbon dioxide into the atmosphere, trees spend much of their time absorbing this harmful greenhouse gas via photosynthesis.
A look at the day ahead in U.S. and global markets from Dhara Ranasinghe Brewing industrial action looks set to test the resilience of the U.S. economy, and especially jobs markets, that have taken policymakers and markets by surprise given the scale of interest rate rises over the past year. The United Auto Workers union launched simultaneous strikes at three factories owned by General Motors, Ford and Chrysler parent Stellantis early on Friday, kicking off the most ambitious U.S. industrial...