Consumer debt passes $17 trillion for the first time despite slide in mortgage demand
Total consumer debt hit a fresh new high in the first quarter of 2023, pushing past $17 trillion even amid…
Retail sales rose 0.4% in April, less than expected as consumers struggle with inflation
Consumers barely kept up with inflation in April, as retail sales increased but fell short of expectations, the Commerce Department…
ECB’s de Guindos warns financial markets are vulnerable to a sharp sell-off
Financial markets could face a sharp downturn in the event of any further shocks to the global economy, European Central…
Bank of England governor says the UK is facing a wage-price spiral
LONDON — After more than a year of warnings, Bank of England Governor Andrew Bailey says the U.K. is now…
A U.S. recession would be ‘good news’ for markets, strategist says
A U.S. recession may prevent a steep market downturn in the second half of 2023, according to Michael Yoshikami, founder…
Inflation rose 0.4% in April and 4.7% from a year ago, according to key gauge for the Fed
Inflation stayed stubbornly high in April, potentially reinforcing the chances that interest rates could stay higher for longer, according to…
TripAdvisor rival GetYourGuide nears $2 billion valuation as it raises fresh funds to invest in A.I.
German online travel startup GetYourGuide raised $194 million from investors, hoping to capitalize on a bump in demand for travel…
Yellen says it should be ‘unthinkable’ for the U.S. to default on its debt
Treasury Secretary Janet Yellen said the idea of U.S. lawmakers letting the nation default on its debt should be “unthinkable.”…
Covid caused huge shortages in the jobs market. It may be easing — but there’s another problem ahead
Since the onset of Covid-19, labor shortages have plagued major economies and intensified inflationary pressures, but economists expect this trend…
Trump urges GOP to let catastrophic debt default happen if Dems don’t accept cuts
Former President Donald Trump on Wednesday urged Republican lawmakers to let the United States default on its debt if Democrats…
