European stock markets rose on Monday and US equities ended at records as traders cheered a strong victory for French President Emmanuel Macron’s centrist party in parliamentary elections. London’s benchmark FTSE 100 index ended the day 0.8 percent higher, while in the eurozone, Frankfurt’s DAX 30 index and the Paris CAC 40 each advanced about … Read more
Household debt has surpassed a peak set during the 2008 financial crisis, marking a long, gradual recovering in borrowing by American consumers, the New York Federal Reserve Bank reported Wednesday. The milestone marked nearly three consecutive years of growing demand for credit, with consumers and households who suffered during the Great Recession recovering to the … Read more
US students’ debt burden is soaring, creating a barrier to home ownership and economic mobility as well as a potential drag on consumer spending, a senior Federal Reserve policymaker said Monday. The phenomenon persists even as the overall picture for US household debt has steadily improved. A decade after the financial crisis, rising incomes and … Read more
US federal prosecutors suspect the North Korean government directed last year’s theft of $81 million from Bangladesh’s account at the New York Federal Reserve Bank, according to a media report Wednesday. Citing unnamed sources, The Wall Street Journal said prosecutors were developing cases showing Chinese middlemen helped the North Korean government orchestrate the enormous theft … Read more