Debt News

Op-Ed: 35% of U.S. in debt means high school must teach personal finance

With 35 percent of American adults in debt collection, hindering their credit scores, we need all 50 U.S. states to require personal finance, in addition to the usual economics, in the mandatory high school curricula.

In the Media by Calvin Wolf - 2 comments

Female students twice as likely to end up in debt from stress

New research has shown that female students are twice as likely to end up in debt at university as their male counterparts owing to poor personal finance skills and the large amounts of stress placed on them.

In the Media by James Walker

Debt settlement programs do more harm than good

A report found that debt settlement companies do more harm than good to the person who is seeking to manage their debt and remains a risky financial venture.

In the Media by Ryan Hite

Argentina readies talks with mediator over debt default

New York - Argentine representatives hold talks with a court-appointed arbiter in New York on Monday hoping to resolve an impasse over debt payments to hedge funds as the country faces possible default.

In the Media by Sonia Avalos (AFP)

Debt-laden Serbia braces for painful reforms

Belgrade - With one in five people unemployed and pensioners outnumbering those in work, Serbia is struggling with a record budget deficit and could sink into bankruptcy.

In the Media by Katarina Subasic (AFP)

Company fined $306K for charging a couple $3,500 on a bad review

KlearGear.com charged a couple $3,500 for a bad review on a product the buyers never received. They are now having to repay the shoppers with additional damages to the tune of $306,750.

In the Media by Walter McDaniel - 2 comments

Detroit art museum contents proposed for debt payment

Detroit - The number of pieces that debt collectors are targeting after a default by Detroit has risen from 1,700 to 66,000 after a change in terms and negotiations.

In the Media by Walter McDaniel

Op-Ed: Study finds rich administrators make for poorer students

A recent study found that students pay more and pay longer to go to school in colleges that have more highly paid leaders.

In the Media by Walter McDaniel

Greece's short-term debt rates drop after bond issue

Athens - Greece's short-term borrowing costs tumbled on Tuesday, days after the crisis-hit country returned to medium-term international bond markets for the first time for four years. Athens paid 2.75 percent interest on 1.625 billion euros ($2.

In the Media by AFP

France will stick to EU deficit reduction target

Paris - France will stick to the country's EU-set budget deficit reduction target, the new finance minister insisted on Tuesday, dismissing earlier indications that Paris was angling for a delay.

In the Media by AFP

Portugal says will strip 1.4 bn euros from 2015 budget

Lisbon - Portugal on Tuesday laid out savings designed to strip 1.4 billion euros ($1.9 billion) from its budget in the latest step to trim its public deficit.

In the Media by AFP

Greece to issue more bonds after sale success

Athens - Greece will issue more bonds after last week's successful five-year debt sale that ended a four-year drought, the head of the debt agency said Sunday.

In the Media by AFP

ECB, BoE want more lenient rules on securitized loans

Frankfurt - The European Central Bank and the Bank of England on Friday called for easier rules regarding certain securities so as to get credit flowing again in the eurozone economy.

In the Media by AFP

Fitch upgrades Portugal's outlook to 'positive'

Paris - Ratings agency Fitch on Friday upgraded its outlook for Portugal to "positive" and maintained the country's credit rating at BB+.

In the Media by AFP

Italy's borrowing cost at record low on 12-month bonds

Rome - Italy raised 7.5 billion euros ($10.4 billion) on Thursday in a sale of 12-month bonds with the rate falling to a record low of 0.589 percent, the Bank of Italy said.The rate at a similar auction on March 12 was 0.

In the Media by AFP

Greece set for milestone return to bond markets

Athens - Greece was set on Thursday for a milestone return to bond markets with a five-year debt sale which also sends a major signal that the eurozone debt crisis is fading.

In the Media by John Hadoulis (AFP)

Booby-trapped car explodes outside Bank of Greece

Athens - A booby-trapped car exploded outside the Bank of Greece in central Athens Thursday but no one was injured in the blast, police said, as Greece was set to return to the debt markets after a four-year absence.

In the Media by AFP

IMF still worried about global fiscal, financial risks

Washington - Six years after a wave of financial destruction crashed through the United States and then Europe, risks, some old and some new, still challenge the global economy, the IMF says.

In the Media by Paul Handley (AFP)

Schaeuble 'can't bear' growth vs austerity debate anymore

Berlin - German Finance Minister Wolfgang Schaeuble reacted Wednesday to IMF advice to boost investment by saying he "can't bear hearing" the debate over fiscal austerity versus pro-growth policies anymore.

In the Media by AFP

Greece raises 1.3 bn amid bond speculation

Athens - Greece on Tuesday raised 1.3 billion euros ($1.8 billion) with a sale of six-month treasury bills, and looked set to return soon to borrowing for longer periods after being frozen out for four years."Total bids reached 3.

In the Media by AFP

Greece in 'no hurry' on bond issue

Athens - Greece is in "no hurry" to tap markets with a five-year bond sale which reports said could come as early as this week, Finance Minister Yannis Stournaras said on Monday.“There is no hurry.

In the Media by AFP

Germany's Schaeuble says Greek troubles not EU's fault

Athens - German Finance Minister Wolfgang Schaeuble Sunday defended Europe's handling of Greece's debt crisis, saying there was no easier way to rescue the debt-laden country from crisis. "Unemployment in Greece isn't the result of European policy.

In the Media by AFP

Moody's cuts Ukraine rating on rising political crisis

Washington - Rating firm Moody's again lowered Ukraine's credit rating by a notch on Friday, citing the "escalation" of its political crisis, and put the country on a "negative" outlook for further downgrades.

In the Media by AFP

Tight budget less crucial with interest rates low: IMF

Washington - Austerity budgets and public spending cuts are less critical to economic health as interest rates in the major advanced economies remain historically low, the International Monetary Fund said Thursday.

In the Media by AFP

Greece can use bank rescue cushion to avert new bailout -source

Athens - Greece wants to use some 11 billion euros ($15 billion) left in its EU bank rescue package to meet upcoming needs and avoid a new bailout loan, a government source said on Wednesday.

In the Media by AFP

Greece to return to markets for medium-term loans by June

Athens - Greece, fighting to emerge from bailouts which began in 2010, will try to return to borrowing normally on the medium-term debt mark by June, Greek press reports said on Wednesday citing the finance minister.

In the Media by AFP

France fails budget target, Hollande faces reform dilemma

Paris - France is way behind budget targets, new data shows, deepening a dilemma for President Francois Hollande over spending cuts which could split his allies, or doing a U-turn in dangerous defiance of the EU.

In the Media by Lucile Malandain (AFP)

Greece concludes long-awaited ex-airport lease

Athens - Greece on Monday said it had leased a former Athens airport in a deal worth 915 million euros ($1.3 billion) -- a key goal in the cash-strapped nation's efforts to offload state-owned assets.

In the Media by AFP

Brazil economy to feel scant benefit from Cup: Moody's

Braz - Although some sectors in Brazil will gain a boost from the World Cup, the tournament will not have a major economic effect, Moody's rating agency forecast Monday.

In the Media by AFP

Japan shoppers see first sales tax rise in 17 years

Tokyo - The price of everything from beer and sushi to cars and dishwashers will rise across Japan Tuesday as shoppers are greeted by the first sales tax rise in 17 years, which has prompted fears of a drop in consumer spending.

In the Media by AFP