In 2024, at least 686 U.S. corporations filed bankruptcy, 8 percent more than in 2023 and the most since 2010 during the Great Recession when 828 corporations went bust, S&P Global Intelligence reported.
Tag: interest rates
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DELINQUENT CREDIT CARD ACCOUNTS ARE ON THE RISE
Late-paying credit card accounts in the U.S. are more numerous than at any time since the 2008 financial crisis, the Financial Times reported, as low-income households have run out of financial reserves after more than two years of relentless inflation.
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DOLLAR INDEX REACHES TWO-YEAR HIGH AHEAD OF TRUMP INAUGURATION
On 2 January, the U.S. dollar index rose 0.8 percent in intraday trading against an assortment of other currencies, reaching its highest mark since November 2022.
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HOMELESSNESS IN U.S. KEEPS RISING, WHILE CELENTE SOLUTION IS IGNORED
The number of homeless Americans increased by more than 770,000 in one year—representing an increase of 18 percent, as more people struggle under high interest rates, high inflation, and surging housing costs.
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EMERGING NATIONS’ CURRENCY VALUES CRASH AGAINST STRONG DOLLAR
A surge in the U.S. dollar and a “confluence of bad news” has sunk the currencies of emerging nations to their lowest values since the U.S. Federal Reserve began raising interest rates in March 2022.
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ECB CUTS RATE, WARNS OF WEAK GROWTH AHEAD
On 12 December, the European Central Bank (ECB) shaved a quarter point from its key deposit interest rate, bringing it to 3 percent, and said the Eurozone’s economy will expand by 1.1 percent in 2025. In September, the bank had forecast a 1.3-percent expansion.
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GOING OUT OF BUSINESS TRENDS
The economic landscape has presented an array of challenges that have profoundly affected the business community this year.
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AUSTRALIA’S ECONOMY SLIPS TOWARD RECESSION AND “NATIONAL EMERGENCY”
In this year’s third quarter, Australia’s economy squeaked out growth of 0.8 percent, year on year, down from 1 percent in the preceding three months, government figures show. The expansion was the slimmest since the end of the COVID War, the World Socialist Web Site (WSWS) reported.
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INDIA’S CENTRAL BANK CUTS GROWTH FORECAST
The Royal Bank of India has trimmed its growth outlook for the 2025-26 fiscal year from 7.2 percent down to 6.6 percent.
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