Economy

Red flag: Consumers are using Buy Now, Pay Later to cover everyday expenses

That’s a concern for economists and consumer advocates, who say the surge in the use of these services, coupled with a lack of transparency and little regulatory oversight, leaves them wondering just how much debt Americans are actually getting into. While other household debt, such as credit card spending and auto loans, is gathered and …

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Hot job market and Great Resignation persist despite recession threat

Mixetto | E+ | Getty Images Workers are still reaping the benefits of a hot job market characterized by few layoffs, ample job openings and a high level of voluntary departures, according to US Department of Labor data issued Wednesday. The numbers reveal that the pandemic-era trend known as the “Great Resignation” is still in …

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Buy Now, Pay Later services may be getting some Americans deep into debt

That’s a concern for economists and consumer advocates, who say the surge in the use of these services, coupled with a lack of transparency and little regulatory oversight, leaves them wondering just how much debt Americans are actually getting into. While other household debt, such as credit card spending and auto loans, is gathered and …

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Bonds flash recession warning light as key part of the yield curve inverts again

The bond market is flashing a warning that the economy may be falling or has already fallen into recession, according to one closely watched measure. Market pros watch the spread on the Treasury yield curve, or the difference between the longer duration Treasury yields and shorter duration yields. Normally, longer duration yields, like the yield …

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New G-7 infrastructure plan offers alternative to China Belt & Road

The Group of 7 has announced a new infrastructure funding program that could rival China’s Belt and Road Initiative. One expert says the G-7’s plan offers hope to developing countries but it remains to be seen whether it can match the BRI. On Sunday, the US and the other members of the G-7 including Canada, …

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Turkish lira whipsaws following new loan ban that’s set to affect thousands of companies

A money changer holds Turkish lira and US dollar banknotes at a currency exchange office in Ankara, Turkey December 16, 2021. Cagla Gurdogan | Reuters Turkey’s currency, the lira, enjoyed a much-welcomed boost on Monday and the preceding Friday after the country’s banking regulator announced a ban on lira loans to holding companies which it …

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Rail walk-out kicks off in UK amid fears of a summer of pay strikes

Forty thousand UK Network Rail staff and workers at 13 train operators have staged walkouts over pay in Britain’s biggest rail strike in 30 years. Jeff J Mitchell | Getty ImagesNews | Getty Images LONDON — A days-long rail walkout that is causing severe travel disruption across Britain could be just the beginning of a …

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