Tag Archives: debt

The new year may bring higher interest rates that could increase credit card debt for many Americans. “If the Fed is going to raise rates another 100 basis points, one full percentage point, your credit card rate is going to go up one full percentage point,” Bankrate.com Chief Financial Analyst Greg McBride told Yahoo Finance Live (video above). “So this is really important. If you’re carrying a balance, now’s the time to take some action.” He advises credit card holders to increase their… Source link

The U.S. Supreme Court has agreed to hear a challenge to President Biden’s executive order that extends student loan debt cancellation to millions of American borrowers. On Thursday, the court said it would hear arguments concerning the measure during its February 2023 session. In agreeing to take up the case, the court kept in place an injunction that, for now, prevents the White House from offering the promised debt relief. The challenge, brought by six Republican-led state attorneys… Source link

Core Scientific (CORZ) will not make debt payments due in October and November, according to a new securities filing. Shares of the bitcoin mining company were down as much as 76% on Thursday morning. Core said it’s exploring alternatives to its capital structure and is working with financial and legal advisers but noted that it might have to file for bankruptcy. — in which case common stock holders would completely lose their investments. “Given the uncertainty regarding the Company’s… Source link

Norwegian Cruise Line (NCLH) CFO Mark Kempa doesn’t see the cruise operator taking any drastic action to pay down the debt accrued during the COVID-19 pandemic. “As we look forward over the course of the next two to three years, we have about a billion dollars a year [of debt] plus or minus that’s coming due,” Kempa said on Yahoo Finance Live (video above). “And we firmly believe, given our trajectory today, that with our existing cash on hand and our expected organic cash flow, we are going… Source link

(Bloomberg) — Russia defaulted on its foreign-currency sovereign debt for the first time in a century, the culmination of ever-tougher Western sanctions that shut down payment routes to overseas creditors. Most Read from Bloomberg For months, the country found paths around the penalties imposed after the Kremlin’s invasion of Ukraine. But at the end of the day on Sunday, the grace period on about $100 million of snared interest payments due May 27 expired, a deadline considered an event of… Source link

The 285 graduates of the Otis College of Art and Design in Los Angeles received an extra special graduation gift Sunday when Evan Spiegel, Snap CEO and co-founder, and his wife Miranda Kerr, founder of beauty brand KORA Organics, announced they will pay off all of the Class of 2022’s student loan debt through a donation to the school. While the amount of Spiegel and Kerr’s donation was not disclosed, the college said it’s the largest single gift it has ever received, surpassing the previous… Source link

This year marks 10 years since Keona Tranby graduated from college. A major milestone, to be sure. But after a decade of slowly chipping away at her student loans, Tranby’s still paying for her education, and progress is painfully slow. Although the 32-year-old has paid off roughly $28,800 over the past 10 years, her total balance owed has increased to around $62,000. Tranby, who works as a marketing director for a Minneapolis-based nonprofit, is hopeful she may get some relief in the coming… Source link

Russian President Vladimir Putin speaks with Finance Minister Anton Siluanov.RIA Novosti/Reuters The impending Russian debt default is likely to be one of the most difficult in history to resolve, Oxford Economics has said. It could even result in the US seizing the Russian central bank’s frozen assets, the consultancy’s Tatiana Orlova said. Russia still has a grace period in which to make dollar payments on its foreign bonds, but analysts say a default is likely. The impending Russian debt… Source link

After recently overhauling a “glitch” in the Affordable Care Act (ACA), the Biden administration is now addressing another issue plaguing the American health care system: medical debt. On Monday, Vice President Kamala Harris announced the administration’s four-step plan aimed at increasing consumer protections for Americans billed for health care costs. These measures include holding medical providers and debt collectors “accountable for harmful practices,” reducing the role medical debt… Source link

(Bloomberg) — A Russian telecommunications company has paid a coupon due Thursday on dollar bonds, in a relief to investors who fretted over whether Russian companies will continue servicing their foreign-currency bonds. Most Read from Bloomberg Search engine Yandex NV, the group’s entity based in The Netherlands, transferred $4.7 million to holders of its $1.25 billion bond due 2025, according to two bondholders who spoke on condition of anonymity. It’s the first foreign-currency coupon… Source link