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Credit News

US business debt a 'moderate' economic risk: US Fed's Powell

Washington - The American private sector's mounting debts pose a "moderate" risk to the world's largest economy, Federal Reserve Chairman Jerome Powell said Monday.

IMF warns rising debt makes economy more vulnerable

Washington - Rising corporate and government debt levels and the sharp increase in more risky lending could leave the global economy vulnerable to another severe downturn, the International Monetary Fund warned Wednesday.

China aims for rural areas to go cashless by 2020

The decline of cash has been predicted by many economists. The question is certainly 'when' rather than 'if'. China is perhaps making the greatest progress. A new initiative aims for rural communities to go cashless by 2020.

Apple to test out interest-free iPhones in China

In an effort to boost sales of its hardware, Apple are to experiment with offering interest-free iPhones in China. This signals an intense battle with the likes of Huawei and Samsung.

Q&A: Top four FinTech trends driving financial inclusion Special

Financial inclusion is on the rise globally as 69 percent of adults – 3.8 billion people – now have a bank account or mobile money provider. Key to achieving this have been fintechs, according to Steve Smith of Finicity

Q&A: Why cash still matters in the digital age Special

Despite technological advances on mobile devices and mobile applications, there are still a wide variety of consumers who want to avoid the bank or credit card interaction and use electronic cash. Danny Shader, PayNearMe, explains why.

German bank caught in DRC colonial land dispute

Frankfurt Am Main - A German state-owned bank has found itself at the centre of a battle in the Democratic Republic of Congo over agricultural land dating back to the Belgian colonial period, AFP learned Monday.

Moody's downgrades Italy credit rating on debt, deficit concerns

Milan - Moody's has cut Italy's credit rating by a notch over concerns about plans for larger deficits and the high public debt load as the country's populist government clashes with Brussels over its budget.

Leaders need to fix broken economic models: IMF chief

Nusa Dua - World leaders need to fix global trading systems instead of trying to tear them down, International Monetary Fund chief Christine Lagarde said Wednesday, in a rebuke to nationalist politicians pushing tariffs and protectionism.

No extra ECB help for Greece after bailout ends: Draghi

Frankfurt Am Main - European Central Bank chief Mario Draghi on Thursday said Greece was "not eligible" to benefit from the bank's massive monthly bond purchases after the debt-laden country exits its bailout programme in August.

Greece takes home foreclosures online to avoid protests

Atenas - The scene has become familiar in Greece in recent months -- a middle-aged woman in a courthouse, trying to dodge an angry crowd shouting inches from her face."Get out, crow!

China targets debt risks, but does it mean business?

Shanghai - China has launched perhaps its most concerted push yet to clean up a toxic brew of unregulated and risky lending increasingly viewed as a threat to global financial stability, but do authorities really mean business this time? Analysts don't think so.

China targets debt risks, but does it mean business?

Shanghai - China has launched perhaps its most concerted push yet to clean up a toxic brew of unregulated and risky lending increasingly viewed as a threat to global financial stability, but do authorities really mean business this time? Analysts don't think so.

China targets debt risks, but does it mean business?

Shanghai - China has launched perhaps its most concerted push yet to clean up a toxic brew of unregulated and risky lending increasingly viewed as a threat to global financial stability, but do authorities really mean business this time? Analysts don't think so.

Dropbox secures $600 million credit pool anticipating IPO

Dropbox is moving into new, public territory. With a $600 million credit pool secured for a push to go public this year, the success of the file hosting service has been brought into sharper light.

Greece bailout 'credible' despite IMF criticism: EU

Brussels - The EU on Tuesday insisted Greece's economy remained on track despite a withering opinion by the IMF that Athens's debt was "unsustainable" and calling for further European debt relief.

Despite economy, Americans are optimistic about their credit

Many Americans are concerned about jobs and the economy. But despite today's business climate, most people remain optimistic when it comes to managing their wallet and personal finances.

Debt collectors strike fear in recession-hit Russia

Moscow - "If you don't die by yourself, we'll help you," threaten the phone messages that Natalya, a 69-year-old Russian pensioner, has been receiving for months after falling further behind on her credit card payments.

Op-Ed: California officials seek precautions for online lending trends Special

Sacramento - Americans now owe over $885 billion of revolving debt, according to sources at the Federal Reserve and much of it is entangled in credit card debt. This might be one of the reasons online lending is growing.

Farmers lose debt gamble in typhoon-plagued Philippines

Cabanatuan - Philippine rice farmer Francisco Santo Domingo's life is in ruins after losing yet another gamble with nature, but the typhoon that destroyed his crops means gleeful loan sharks have again hit the jackpot.

Hackers could go on a easy spending spree with contactless cards

The UK's Which? consumer research group has found that contactless payment cards can be easily hacked using homemade technology. The card details can be stolen and then used to pay for goods online without further verification.

Contactless payments to be accepted in 'every' EU store by 2020

Mastercard's head of emerging payment products has said that contactless payments with cards and phones will be accepted at every store in the UK and Europe before 2020, sparking a debate on whether this will actually be possible.

Google lets schoolboy run up £3000 bill as app purchases bounce

An 11-year-old school student ran up a bill of over £3000 on his mother's card after a series of app and game purchases were charged repetitively by Google despite the payments failing. Google made hundreds of transactions in just a few days.

Op-Ed: 5 credit score killers that are costing you money

Your credit score is critical. While it doesn't define you, it certainly determines whether or not you'll be able to buy a house or car with a reasonable interest rate (or at all).

Early issues with Apple Pay are putting off users, says study

A study has revealed that early issues with Apple Pay are causing many earlier patriots to neglect regular use of the service. 47% of users have experienced issues in stores advertised as Apple Pay friendly.

New study shows many with low credit scores miss out on recovery

The recession and all its woes are supposed to be behind us, right? Yet far too many Americans are still struggling, and low credit scores are forcing them to pay more for core services and turn to high interest financial products.

A waitress accused of adjusting customers' tips

A restaurant server has been accused of editing the tips that customers gave her with extra numbers, adjusting a $5 tip to $15 or even $25, affecting at least 20 of the restaurant users.

Mobile rewards platform Freecharge raises $80m in funding

Mobile transactions firm Freecharge has raised $80 million from new investors to help fuel its growth. The company enables users to get free rewards such as food or entertainment by simply paying phone bills through its mobile app.

ECB approves 60 bn euros in emergency funds for Greek banks

Frankfurt - The European Central Bank has given the green light to make up to 60 billion euros ($68.5 billion) in emergency liquidity available to Greek banks, a source close to a national central bank told AFP on Thursday.

Op-Ed: Most Americans would be concerned if spouse had bad credit

Nearly 3 of 4 Americans (73%) would be concerned if they discovered their fiancé had a bad credit rating, according to a new survey by Capital One. Additionally, a spouse's bad credit rating is more likely to concern women (80%), compared to men (66%).
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Freecharge offers rewards if you pay your phone bill through them
Freecharge offers rewards if you pay your phone bill through them
Freecharge
Credit Cards.
Credit Cards.
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A Visa card
A Visa card
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This is the  Douglas Money Equation  as formulated by Major C.H. Douglas (1879-1952).
This is the "Douglas Money Equation" as formulated by Major C.H. Douglas (1879-1952).
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