So far this year, 29 corporations have defaulted on their debts, more than in any similar period since 2009 during the Great Recession when 36 corporations failed to pay. Inflation, high interest rates, rising wages, and sluggish consumer demand are to blame, according to S&P.
Tag: interest rates
U.S. INFLATION RAN AT 3.2 PERCENT IN FEBRUARY
In February, consumers paid 3.2 percent more for goods and services than they did a year earlier and 0.4 percent more than in December, the U.S. Bureau of Labor Statistics (BLS) reported last week.
EUROZONE INFLATION SLOWS TO 2.6 PERCENT IN FEBRUARY
Prices inflated by 2.6 percent in February across the 20-country Eurozone, slipping from January’s 2.8 percent and coming closer to the European Central Bank’s (ECB’s) 2-percent target.
TOP TREND, OFFICE BUILDING BUST: PENSION FUND DUMPS OFFICE
The Canada Pension Plan Investment Board (CPIB) was one of the earliest pension funds to put money into commercial real estate, inspiring others around the world to do the same.
GOING OUT OF BUSINESS TRENDS
In recent times, the economic landscape has presented an array of challenges that have profoundly affected the business community. Some of the most significant challenges include soaring inflation rates, escalating interest rates, looming fears of a recession, and a tangible decrease in revenues for many sectors…
CREDIT CARD COMPANIES KEEP RIPPING OFF CARD HOLDERS WITH HIGH INTEREST RATES
U.S. credit card companies have raised their interest rates an average of 4.3 percentage points over the last 10 years, which is allowing them to collect an additional $25 billion a year from cardholders, the Consumer Financial Protection Bureau (CFPB) has calculated.
GOING OUT OF BUSINESS TRENDS
In recent times, the economic landscape has presented an array of challenges that have profoundly affected the business community. Some of the most significant challenges include soaring inflation rates, escalating interest rates, looming fears of a recession, and a tangible decrease in revenues for many sectors…
BRITAIN’S ECONOMY TEETERS ON THE EDGE OF RECESSION
In 2023, more than 25,000 U.K. businesses, small and large, went bankrupt, the most since 1993, The Wall Street Journal reported.
U.S. CREATES 353,000 JOBS IN JANUARY. WEAKNESS HIDDEN
The U.S. economy sprouted an additional 353,000 jobs in January, the labor department reported, almost twice as many as expected by analysts The Wall Street Journal had surveyed.
GOING OUT OF BUSINESS TRENDS
In recent times, the economic landscape has presented an array of challenges that have profoundly affected the business community.