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...More US credit card accounts were past due on their payments to the largest banks at the end of 2023 than at any time since 2012, according to data from the Federal Reserve Bank of Philadelphia....
...time,” the Federal Reserve Bank of Philadelphia wrote in a report on Thursday, which reviewed data from US banks with at least $100bn in assets....
...Better still, the key to boosting low capital productivity would be a tax credit for investment....
...In his final State of the Union address before November’s election, Joe Biden last night outlined his legislative agenda for a second term in a pugnacious, overtly political speech....
...It is clear today that the recovery fund hasn’t put the 27-nation EU on an irreversible path to a full fiscal union....
...The most recent federal data showed the personal consumption expenditures index rose to 2.7 per cent in the year to March, compared to 2.5 per cent the month before — a level of inflation above the Federal...
...The market reaction came after the Federal Open Market Committee voted unanimously to leave rates unchanged at a 23-year high of 5.25 per cent to 5.5 per cent....
...start cutting its benchmark deposit rate from its record high level of 4 per cent in June, there is more doubt over the pace and total amount of policy loosening that will follow — especially if the US Federal...
...Industry association Sifma argued in a public comment before the rule was adopted that the FTC did not have the power to regulate banks and credit unions....
...If the Reagan‑Thatcher revolution was about crushing union power, the pendulum seems to be shifting in favour of labour. Unions are changing too....
...China’s “credit impulse” — the change in the flow of credit — was a “headwind for growth for much of the last year” but has now moved back into positive territory, BofA’s analysts said....
...Biden loves to call himself the US’s most pro-union president, and to tell blue-collar voters that he cares more about them than Trump does....
...In contrast, the strength of the US economy and high levels of government spending relative to taxes could persuade the Federal Reserve to keep interest rates high for some time, say investors, which could...
...Chelsea co-owner Todd Boehly’s Eldridge Industries is in advanced talks to buy European private credit firm Hayfin Capital Management....
...At some point, this risks leaving lenders without sufficient reserves and could cause unwanted volatility in short-term borrowing costs and even a credit crunch....
...This time last year, forecasters surveyed by the Philadelphia Fed were betting on a roughly 50 per cent chance of a decline in real US GDP in the first quarter of 2023....
...Starbucks in 2022 introduced more sizes for baristas’ green aprons and the option for customers to tip with their credit cards, two of the union’s initial demands....
...Monetary policy: Federal Reserve Bank of Atlanta president Raphael Bostic, Federal Reserve Bank of Kansas City president Jeffrey Schmid and Federal Reserve Bank of San Francisco president Mary Daly speak...
...Federal Reserve vice-chair for supervision Michael Barr had gold-plated the Basel rules, provoking a fierce backlash from Wall Street’s finest....
...Instead, banks would have to rely on more traditional, standardised assumptions that measure how risky assets are by using credit ratings from agencies....
...Students at Munich’s technical university are able to take part in programmes at UnternehmerTUM as part of their degrees, where they are able to receive the same amount of credits as for an academic course...
...President Joe Biden’s landmark climate law, the Inflation Reduction Act, included tax credits to help make its expensive development more viable. New gas plants will face these rules starting 2032....
...The US president sought to ease the pressure on would-be homeowners through tax credits outlined in this month’s State of the Union address, but that benefit is unlikely to have as big an impact as lowering...
...Nominal credit card debt hit a record $1.13tn in the last three months of 2023, growing at one of the fastest rates in more than 20 years, according to the New York branch of the Federal Reserve....
...The divergence between European and US credit spreads has played out primarily at the weakest end of the credit quality spectrum....
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