Business

As Americans spend, credit card debt is ticking back up

NEW YORK (Reuters) – Early in the pandemic, there were encouraging and surprising signs about the decline of credit card debt.FILE PHOTO: Mastercard Inc. credit cards are displayed in this picture illustration taken December 8, 2017. REUTERS/Benoit Tessier/Illustration/File PhotoNow, that trendline seems to be changing. Many Americans stayed at home at the start of COVID-19 […]

Politics

Universal Credit: Work and Pensions Secretary Therese Coffey ‘entirely happy’ with scrapping of £20 per week uplift

Work and Pensions Secretary Therese Coffey has told Sky News she is “entirely happy” with a £20 per week cut to Universal Credit, despite calls from senior Conservatives to keep the benefits uplift. Ms Coffey described the £20 per week boost to benefits, which is due to end from next month, as a “temporary stop-gap” […]

Analysis & Comment

Credit Agricole to get Algebris' 5.4% Creval stake even if bid fails

FILE PHOTO: A logo of Credit Agricole is seen outside a bank office in Bordeaux, France, July 30, 2019. REUTERS/Regis Duvignau/File PhotoMILAN (Reuters) – Credit Agricole Italia has amended its agreement with Algebris and will buy the 5.38% stake in Creval held by the investment fund even if its takeover bid for the Italian bank […]

Business

Credit Suisse shareholders approve final 2019 dividend payment

FILE PHOTO: The logo of Swiss bank Credit Suisse is seen at its headquarters at the Paradeplatz square in Zurich, Switzerland October 1, 2019. REUTERS/Arnd WiegmannZURICH (Reuters) – Credit Suisse shareholders on Friday approved payment of the second half of its 2019 dividend. Both big Swiss banks, Credit Suisse and UBS, decided in April to […]

Business

Did Uncle Sam's virus aid help your credit score? Don't count on a loan

NEW YORK (Reuters) – Rachel Levine, a New York-based office furniture saleswoman, lost her job in late March without any notice or severance pay when the coronavirus outbreak shut down most of the city. The married, 44-year-old mom is still out of work, unsure when or whether she will return to her previous job. Despite […]