China Evergrande Group, a troubled developer, has filed for bankruptcy protection in the US as part of a massive debt restructuring. The move comes as concerns grow over China’s property crisis and its impact on the weakening economy. In an attempt to support struggling economic activity, China has unexpectedly lowered interest rates, but analysts believe …
Official data reveals that Britain’s debt pile has expanded at an accelerated rate compared to most EU countries, with the exception of France, since the onset of the pandemic. The Office for National Statistics reports that the UK government debt has risen from 85.5% of the gross domestic product (GDP) in the last quarter of …
According to a comprehensive analysis by the Wall Street Journal, universities in the United States have been prioritizing new buildings, amenities, and sports programs over addressing the nationwide student debt crisis. Despite the fact that students in the U.S. collectively owe a staggering $1.6 trillion in federal student debt, universities have been raising tuition prices, …
According to Becky O’Connor, the director of public affairs at PensionBee, student loan repayments have long-term consequences that extend well beyond a graduate’s working life. In fact, they can persist into retirement, potentially forcing individuals to stay in employment for a longer duration. The burden of a 40-year repayment term not only encroaches upon the …
Shares of Tupperware Brands experienced a significant surge of nearly 50% on Friday, following a remarkable 90% jump in after-hours trading the previous day. The surge came after the struggling kitchen storage container maker announced a debt restructuring deal. Known for its vibrant plastic airtight containers, Tupperware had expressed concerns in April about its ability …
New York is taking a brave stance against Big Ketchup’s subpar product. I have numerous reasons to applaud this bold move. But it’s not about the environment—it’s about authenticity. As any scholar would know, the word “condiment” has roots in Latin, meaning “to pickle.” Therefore, ketchup, relying on a deceitful fruit posing as a vegetable, …
After several weeks of attempting to find potential buyers for the business, Wilko is making significant strides toward its future. Rumors circulated last month that numerous large general merchandise chains were being considered for a deal with Wilko. The retailer, established in 1930 by JK Wilkinson and currently operating around 400 stores, has remained under …
Ratings agency Fitch made a significant decision on Tuesday by downgrading the US government’s credit rating from AAA to AA+. The agency cited concerns over the expected fiscal deterioration in the next three years and the increasing general government debt burden. As a result of the downgrade, the value of the dollar declined. It’s worth …
Eye on the economy: Red States Drive Growth The Boston Herald editorial team observes that the economy President Biden often brags about is actually powered by Republican states. While there are warning signs of economic problems such as persistent inflation and a massive national debt, Biden finds good data points, like the national earnings statistic, …
The Issue: President Biden’s Effort to Cancel $39 Billion in Student Loan Debt for 800,000 Borrowers In an attempt to appease the left wing of his party and gain support, President Biden is seeking to cancel billions of dollars in student loan debt. However, this action goes against the Supreme Court’s ruling that he lacks …