(This Dec. 5 story corrects first paragraph to say growth was slower not declined in previous years, removes reference to projected spending in eighth paragraph) (Reuters) – U.S. healthcare spending grew faster in 2018 after two slower growth years, a governme... More »
WASHINGTON (Reuters) – The U.S. consumer watchdog on Tuesday proposed making permanent an exemption that allows certain banks and credit unions to estimate the international remittance fees they charge consumers in instances when it may be too expensive for th... More »
(Reuters) – Apple Inc (AAPL.O) co-founder Steve Wozniak joined in the online debate over accusations of gender discrimination by the algorithm behind the iPhone maker’s credit card, fuelling scrutiny of the newly launched Apple Card. The criticism started on T... More »
BENGALURU (Reuters) – A probe into Goldman Sachs Group Inc’s credit card practices has been initiated after tweets from a tech entrepreneur alleged gender discrimination in the new Apple Inc card algorithms that are used to determine credit limits. In a series... More »
LONDON, (Reuters) – Britain’s housing market picked up modestly in June with a stronger-than-expected rise in mortgage approvals, but consumer lending growth slowed to a fresh five-year low, Bank of England figures showed on Monday. Brexit worries have weighed... More »
(Reuters) – U.S. growth appears to be based “exclusively” on government, corporate and mortgage debt and the economy would have contracted if the United States had not added trillions in debt, Jeffrey Gundlach, chief executive of DoubleLine Capital, said in an... More »
WASHINGTON (Reuters) – U.S. personal income fell for the first time in more than three years in January and consumer spending dropped by the most since 2009 in December, putting the economy on a weak growth path early in the first quarter. The economic outlook... More »
PARIS (Reuters) – French consumer confidence jumped in February to its highest level since “yellow vest” protesters started their weekly demonstrations, as households took heart in an improvement in their finances and unemployment fears receded. The reading of... More »
NEW YORK (Reuters) – Americans’ demand for credit declined over the previous year as expected, as mortgage interest rates rose, while the percentage of approved applications also ticked lower compared to a year ago, a survey from the New York Federal Reserve s... More »
NEW YORK (Reuters) – When optimism and realism about college savings collide, you get parents who are confident that they will meet their goals – as long as they reduce the amount of money they save, that is. According to the latest “How America Saves for Coll... More »
BERLIN (Reuters) – German economic growth slowed slightly more than expected in the first quarter of the year due to weak trade, data showed on Tuesday, but analysts called it a blip and predicted Europe’s biggest economy would shift into a higher gear again. ... More »
WASHINGTON (Reuters) – U.S. job growth likely accelerated in April after a weather-related slowdown in the previous month, with the unemployment rate expected to drop to near a 17-1/2-year low of 4.0 percent. The Labor Department’s closely watched employment r... More »
FRANKFURT (Reuters) – Lending to euro zone households and companies accelerated in March while a broader indicator of money circulating in the currency bloc, which often foreshadows future activity, slowed sharply, data from the European Central Bank showed on... More »
WASHINGTON (Reuters) – The U.S. economy likely slowed in the first quarter as growth in consumer spending braked sharply, but the setback is expected to be temporary against the backdrop of a tightening labor market and large fiscal stimulus. Gross domestic pr... More »
NEW YORK (Reuters) – The recent widening of the spread between the three-month London interbank offered rate (LIBOR) and three-month overnight index swap rate (OIS) would add a total of $16 billion in borrowing costs for businesses and families, J.P. Morgan an... More »
FILE PHOTO: Credit reporting company Equifax Inc. corporate offices are pictured in Atlanta, Georgia, U.S., September 8, 2017. REUTERS/Tami Chappell/File Photo NEW YORK/TORONTO (Reuters) – Equifax Inc (EFX.N) said it expects costs related to its massive 2017 d... More »
FILE PHOTO: Credit reporting company Equifax Inc. corporate offices are pictured in Atlanta, Georgia, U.S., September 8, 2017. REUTERS/Tami Chappell/File Photo (Reuters) – Equifax Inc (EFX.N) on Thursday reported quarterly results ahead of Wall Street forecast... More »
FILE PHOTO: A woman shops in a supermarket in London, Britain April 11, 2017. REUTERS/Neil Hall/File Photo LONDON (Reuters) – British households’ gloom about their finances deepened this month, and most now expect borrowing costs to rise again within six month... More »
FILE PHOTO: White House budget director Mick Mulvaney holds a press briefing at the White House in Washington, DC, U.S., January 19, 2018. REUTERS/Kevin Lamarque/File Photo WASHINGTON (Reuters) – Mick Mulvaney, head of the Consumer Financial Protection Bureau,... More »
Buildings are seen as vehicles pass through the financial district of Makati city, metro Manila, Philippines November 22, 2017. REUTERS/Romeo Ranoco MANILA (Reuters) – The Philippines’ economy was expected to have ended 2017 on a solid footing with growth in t... More »
FILE PHOTO – Graduates celebrate receiving a Masters in Business Administration from Columbia University during the year’s commencement ceremony in New York in this May 18, 2005 file photo. dreams of many college seniors. REUTERS/Chip East/Files CHICAGO (Reute... More »
U.S. outgoing Federal Reserve Chair Janet Yellen arrives for a news conference after a two-day Federal Open Market Committee (FOMC) meeting in Washington, U.S. December 13, 2017. REUTERS/Jonathan Ernst NEW YORK (Reuters) – When the U.S. Federal Reserve raises ... More »
FILE PHOTO: A worker looks on as a drill breaks the pavement on a construction site next to Barangaroo building complex in Sydney’s central business district (CBD) Australia, November 9, 2017. REUTERS/Daniel Munoz SYDNEY (Reuters) – Australia’s economy is expe... More »
China's October property sales and new construction starts fell in October as the property market cooled from a two-year boom in the face of a tighter liquidity environment and a crackdown on riskier lending. More »
U.S. economic growth probably slowed in the third quarter as hurricanes Harvey and Irma restrained consumer spending and undercut construction activity, but underlying momentum likely remained strong amid robust business investment on equipment. More »
The wealth of U.S. households rose to $96.2 trillion in the second quarter of this year as U.S. stock prices hit record highs and home values continued to climb, a report by the Federal Reserve showed on Thursday. More »
Strong household and state spending consolidated Germany's role as the euro zone's growth engine in the second quarter, helping Chancellor Angela Merkel to burnish her economic credentials less than six weeks before an election. More »
Japan's economy grew in the second quarter at the fastest pace in more than two years as consumer spending and capital expenditure both rose at the fastest in more than three years, highlighting stronger domestic demand. More »
Borrowers unwittingly charged for auto insurance when they took out car loans from Wells Fargo & Co asked a U.S. court on Friday to force the bank to help them repair their credit scores. More »
FILE PHOTO: A businessman walks past the Reserve Bank of Australia in Sydney February 4, 2014. Australia’s central bank on Tuesday marked a full year without changing interest rates, and many economists suspect rates could stay at record lows of 1.5 percent fo... More »
A China yuan note is seen in this illustration photo May 31, 2017. Chinese lenders extended more credit than expected in June, as home lending stayed buoyant while a clampdown on shadow financing activities forced banks to shift more loans onto their books. More »
FILE PHOTO: New home construction is seen in San Diego, California, U.S. on August 21, 2015. REUTERS/Mike Blake/File Photo U.S. mortgage lenders are bracing for rockier times as consumers demand for home loans slows and competition in the mortgage industry int... More »
Incoming Philippine Central bank Governor Nestor Espenilla speaks during a news conference at the Bangko Sentral ng Pilipinas in Manila, Philippines May 9, 2017. REUTERS/Karen Lema The Philippines central bank is closely watching the rapid pace of domestic cre... More »
Bank of Korea Governor Lee Ju-yeol speaks during a news conference at Seoul Foreign Correspondent’s Club January 22, 2015. REUTERS/Kim Hong-Ji South Korean President Moon Jae-in said on Monday unemployment was “very serious” and it could turn into a national c... More »
FILE PHOTO: Shoppers are reflected in a shop window as they walk along Oxford Street in London, Britain, December 21, 2013. REUTERS/Luke MacGregor/File Photo British consumers cut their spending for the first time in nearly four years last month, figures from ... More »
FILE PHOTO: People walk in Omotesando shopping district in Tokyo, Japan May 17, 2017. REUTERS/Toru Hanai/File Photo Japan’s economic growth was much weaker in the first quarter than initially estimated, the Cabinet Office said, but analysts made light of the d... More »
A graduating student has “To Begin Anew” written on her cap as she attends a service before the 365th Commencement Exercises at Harvard University in Cambridge, Massachusetts, U.S. May 26, 2016. REUTERS/Brian Snyder Millennials face the greatest risk among all... More »
FILE PHOTO – People pass the JP Morgan Chase & Co. Corporate headquarters in the Manhattan borough of New York City, May 20, 2015. REUTERS/Mike Segar/File Photo Big U.S. banks revealed more evidence of a slowdown in loan growth in their earnings reports on Thu... More »
U.S. consumers are taking out debt at a far faster rate than their incomes or the economy are growing, and just as we may be hitting a peak in employment. More »
More U.S. consumers complained about imposter scams than identity theft for the first time in 2016, as fraudsters relied more on the phone and less on email to find victims, the Federal Trade Commission said on Friday. More »
People are seen at a market street in Tokyo, Japan, January 23, 2017. Picture taken on January 23, 2017. REUTERS/Kim Kyung-Hoon Japan’s core consumer prices rose for the first time in over a year in January thanks to a pickup in energy costs, but a slump in ho... More »
People carry bags outside a shopping mall on the last day of Christmas shopping in Berlin December 23, 2014. REUTERS/Hannibal Hanschke The German economy quadrupled its growth rate to 0.4 percent in the fourth quarter of 2016 as higher state spending, rising p... More »
A potential car buyer looks at vehicles on a lot in Silver Spring, Maryland, September 1, 2009. REUTERS/Jason Reed More Americans fell behind on their car loan payments in the fourth quarter, bringing auto delinquencies to their highest since the height of the... More »
Republicans lawmakers are starting to put in motion plans to destroy or defang the U.S. agency intended to protect individuals from financial fraud. More »
People walk on a street at Tokyo’s Ginza shopping district, Japan, February 12, 2017. REUTERS/Toru Hanai Japan’s economy grew for a fourth straight quarter in the final three months of last year as a weaker yen supported exports, but tepid private consumption ... More »
Jared Kushner, senior advisor to President-elect Donald Trump arrives for the Presidential Inauguration of Trump at the U.S. Capitol in Washington, D.C., U.S., January 20, 2017. REUTERS/Saul Loeb/Pool By Joy WiltermuthNEW YORK (IFR) – Investors on Friday snapp... More »
A woman shows her phone operating Ant Check, an Alibaba-linked platform, at a cafe in Beijing, China, April 11, 2016. REUTERS/Shirley Feng/File Photo Ma Yiqing, 24, is typical of China’s younger generation – he uses his credit card frequently and borrows from ... More »
A person holds pharmaceutical tablets and capsules in this picture illustration taken in Ljubljana September 18, 2013. REUTERS/Srdjan Zivulovic U.S. health spending in 2015 rose at its fastest rate since 2007, driven by expanded access to insurance under the A... More »
Tourists use a mobile phone to take a photo of the sunset in the town of Sliema in Valletta’s Marsamxett Harbour October 26, 2011. REUTERS/Darrin Zammit Lupi The stereotype of millennials living in their parents’ basements is well worn by now, but what about t... More »
The logo of the Bank of Korea is seen on the top of its building in Seoul, South Korea, July 14, 2016. REUTERS/Kim Hong-Ji South Korea’s central bank is forecast to keep interest rate policy on hold on Thursday as board members weigh the risks from household d... More »
A woman walks past a luxury boutique in a shopping district in Tokyo, Japan, September 29, 2016. REUTERS/Toru Hanai Japan’s retailers are forecasting a gloomy end to the year, as persistent economic malaise and a lack of wage growth eat away at consumer confid... More »
A woman walks past an advertisement promoting an apartment complex which is currently under construction in Yongin, South Korea, August 24, 2016. REUTERS/Kim Hong-Ji In Yongin, a satellite city south of Seoul, orange construction cranes are racing to build gle... More »
By Leika Kihara and Tetsushi Kajimoto | TOKYO TOKYO Japan’s economic growth ground to a halt in April-June as weak exports and shaky domestic demand prompted companies to cut spending, putting fresh pressure on premier Shinzo Abe to come up with policies that ... More »
SEOUL South Korea’s economic growth was expected to show little improvement over April-June versus the first quarter in sequential terms, a Reuters poll found on Monday, as weak exports and capital investment continue to undermine growth. The economy was expec... More »
LONDON Asking prices for British residential property slipped slightly more than usual after last month’s vote to leave the European Union, though the overall impact remains hard to judge, figures from property website Rightmove showed on Monday. Average price... More »
NEW YORK For college graduates entering a challenging job market, some of whom are carrying tremendous student loan debt, any gift to help them better manage their money is both practical and welcome. The following are three ways to help recent graduates find ... More »
NEW YORK While millennials have a lot to learn about managing money, a new survey shows a rosy picture of college students who are working, paying their bills on time without their parents’ help, avoiding debt and hungry for more knowledge. The survey released... More »
CHICAGO The interest rate hike announced today by the Federal Reserve is a major milestone for retirees, who have been caught between a rock and hard place ever since the Great Recession, with zero interest rates and higher-than-average inflation. The Fed’s qu... More »
LOS ANGELES For everyone who has been saying interest rates can only go up, well – now is their time. But what does the Federal Reserve’s decision to raise interest rates actually mean for your wallet? Probably not much for the near-term. One small interest ra... More »
TOKYO Japan slipped into its fourth technical recession in five years between July and September – spotlighting how the government’s “Abenomics” policies have struggled to drag the economy out of chronic stagnation. Official data on Monday showed the world’s t... More »
NEW YORKWells Fargo & Co will likely need to issue an additional $20 billion to $40 billion of long-term debt to comply with new rules designed to help banks better weather a crisis, Chief Financial Officer John Shrewsberry said on Friday. The debt issuance wo... More »
SHANGHAI Profit margins at Chinese firms improved in the third quarter while loan demand remained weak, a private survey showed , with the overall results suggesting the stock market crash would have minimal impact on the broader economy. The quarterly survey ... More »
NEW YORK Hey, remember that newsletter that let you sign up for a free trial? Didn’t think so. How about that old domain name you registered, or your kid’s gaming membership, or the magazine subscription that was initially offered as a freebie. Forgot about th... More »
LOS ANGELES Parent education loans can help your child attend the college of her dreams — and sink any dreams you had of ever retiring. The grim reality is that the federal PLUS loan program allows parents to borrow far more than they can comfortably, or even ... More »
LOS ANGELES A new study by student lender Sallie Mae found the average amount spent on college education in the United States jumped for the first time in five years, thanks to greater outlays from high-income families and parental readiness to spend more. Fam... More »
PayNet President William Phelan speaks at the 2011 Reuters Manufacturing and Transportation Summit in New York December 12, 2011. REUTERS/Brendan McDermid U.S. small businesses boosted borrowing in March, signaling a renewal of confidence in growth prospects a... More »
