Consumer Debt News
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The time is right for Stephen Poloz to drop the Bank of Canada’s bias toward raising interest rates when he takes over as governor next month, according to Bank of Montreal’s Doug Porter.
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U.S. mortgage rates rose, pushing borrowing costs for a 30-year loan to a two-month high, after a jump in yields for the Treasuries that guide consumer debt.
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Overdue student loans reached an all- time high as students struggle to find work after college, according to a government report renewing alarms about the rising burden of higher-education debt.
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Future Bank of England Governor Mark Carney said while his Canadian experience may offer lessons to other countries, he will seek help from his colleagues and not try to run the London-based central bank as a one-man show.
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Sweden’s financial watchdog decided to triple the risk-weight floor for mortgages, or the money Swedish banks need to set aside to protect against housing loan losses, after household debt burdens continue to swell.
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Coffee houses hold a special place in London’s history. During the late 17th century, they were the birthplace of Lloyd’s of London and the London Stock Exchange -- two institutions that helped make the square-mile City of London a global financial capital.
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U.S. households reduced debt during the first quarter by 1 percent to the lowest level since 2006, resuming a deleveraging trend in the wake of the financial crisis, according to the Federal Reserve Bank of New York.
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Investors are wagering Hudson’s Bay Co. will follow Canadian Tire Corp. in spinning off its property into a real estate investment trust.
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Tim Hortons Inc., Canada’s largest coffee and doughnuts chain, fell the most in almost three months after a slowing economy prompted sales at its Canadian stores to drop for the first time since the company went public.
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Rossi Residencial SA, Brazil’s most indebted homebuilder, is benefiting from efforts to sell assets and shrink operations, helping the stock post its first monthly gain this year.
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