All Economy
How much would debt default damage US? History offers clues.In U.S. debt limit talks, even going to the brink of default can harm investor confidence. Yet the nation has survived past cases of mini default.
Need an apartment? Have we got an office for you!With more people working from home, office vacancy rate is at a 30-year high. That’s bad for city downtowns – and tax revenues.
First LookGet a new car or fix the one you have? More Americans choose to fix.Instead of buying new cars, Americans are holding onto their old ones due to increased prices, and simply cars are lasting longer. The average age of a U.S. vehicle on the roads is now a record 12.5 years, according to data gathered by S&P Global Mobility.
First LookThe Fed raises interest rates for 10th time amid economic turmoilThe Federal Reserve raised key interest rates by a quarter percentage point. The Wednesday announcement offered little indication that the Fed’s rate hikes have made significant progress toward the goal of cooling the economy, the job market, and inflation.
After bank failures, raising deposit insurance has benefits – and risksRecent bank failures have raised questions about whether to expand insurance for depositors – but also about how to instill prudent behavior by banks.
Are corporations going liberal? Conservative pushback on the rise.For years corporations have faced pressure from the left to pivot beyond “shareholder value” to think of wider stakeholders and longer-term risks such as climate change. But that so-called ESG movement faces rising criticism.
Germany ditched nuclear power. Other nations show new interest.Renewable energy is competitively priced. But many say nuclear power still has a role to play even as old plants shut down. A status report in charts.
Dominion v. Fox: Could case be weaponized against freedom of press?A defamation trial brought against Fox News for conspiracy theories it aired could have wide-ranging ramifications for all news media.
First Look‘There’s a huge need’: Nonprofits face shortage of volunteersNonprofits have been a significant source of help for vulnerable groups in society. However, many are struggling to find volunteers as younger generations lack the time or financial security to spend time volunteering.
The ExplainerCan you hear me now? Cellphones turn 50.On the 50th anniversary of the first cellphone call, we explore how mobile technology has transformed our lives – for better and for worse.
Labor strikes are rising – and winning pay hikesAt a time of high inflation, pushing household budgets to the limit, workers are speaking up through union action – and the boosts won by employees have been sizable.
First LookFirst Citizens to buy Silicon Valley Bank. When will bank turmoil end?The FDIC has approved the sale of Silicon Valley Bank to First Citizens Bank & Trust Co. Bank stocks have been largely on the rise since the announcement of the acquisition, “but uncertainty is high,” said IMF Managing Director Kristalina Georgieva.
With credibility at stake, Fed fires new volley at inflationThe Federal Reserve’s credibility as an inflation fighter is on the line. Fed Chair Jerome Powell signaled his resolve on that today, with an interest rate hike despite recent U.S. banking troubles.
First LookBillion-dollar save: Risk-aware UBS steadies Swiss bank turmoilSwiss banking giant UBS is buying troubled rival Credit Suisse for almost $3.25 billion, amid global churn in the banking system. The deal was “one of great breadth for the stability of international finance,” said Swiss President Alain Berset.
First LookHow will the bank failures affect ordinary Americans?Silicon Valley Bank and Signature Bank collapsed within two days of each other, becoming the biggest U.S. bank failures since 2008. The Biden administration says it will guarantee uninsured deposits at both banks, but the cost won’t be known for months.
Priority test: Can officials fight inflation and buoy banks?How can officials both tame inflation and ensure bank stability? It’s a difficult balance that for now, at least, appears to still include interest rate hikes.
First LookCredit Suisse bank shares plunge in global market turbulenceThe internationally connected Credit Suisse bank staggered Wednesday as the collapse of two U.S. midsize banks rippled across Europe. Investors have been quick to sell stocks in other banks, concerned about more vulnerability in the system.
The ExplainerAre banks – and your money – safe? Five questions.The failure of two U.S. banks in recent days poses a test of confidence – and of regulatory reassurance – at a time when the economy is already challenged by inflation and rising interest rates.
A new generation of Americans wrestles with rising interest ratesPersistent inflation has pushed America into an era of rising interest rates that millions of American workers have never experienced before. Consumers have been showing resilience, but also some signs of strain.
First LookSilicon Valley Bank collapses, governments swift to protect depositsThe U.S. and U.K. governments are taking massive steps to avoid a financial crisis after the failure of Silicon Valley Bank. Regulators have failed to find a buyer for the $200 billion failed bank, yet assured depositors their money is still accessible.
