JPMorgan has warned that there’s a “non-trivial risk” of a default on U.S. government obligations as the debt-limit deadline looms with no agreement in sight. Analysts at the bank said in the Wednesday note that they expect the debate over the debt ceiling as well as the one on the federal funding bill to come…
Risk of Debt Default Is ‘Non-Trivial,’ Warns JPMorgan
April 20, 2023
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Small Businesses File for Bankruptcy at Record Pace, Surpassing COVID Crash
Small businesses across the United States are experiencing a surge in bankruptcies, surpassing levels not seen since 2020. According to a UBS note reviewed by The Epoch Times, conditions could become worse as the knock-on effects from the recent banking crises begin to manifest. The note from UBS Evidence Lab shows private bankruptcy filings in…
Probability of Debt Default Has Risen 300 Percent Since Start of Year: Report
March 4, 2023
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The probability of a catastrophic U.S. debt default has risen by 300 percent since the start of the year. A recent report from MSCI, an American financial service provider, warned about the tripling of a debt default and said that Congress must pass a spending bill to avoid a disaster in the next few months. “Implied default probabilities have…
TikTok Sets 60-Minute Screen Time Limit for Minors
March 3, 2023
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Social media app TikTok, popular among teens, has announced that it will soon limit screen time to 60 minutes a day for any user under the age of 18 in an effort to curb young people’s time on the platform. According to a statement on March 1, “every account” on the short-form video app belonging to a…
Office Landlord Defaults on the Rise as Employees Continue to Work From Home
March 2, 2023
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Business & Marketscommercial real estateCompaniesdefaulteconomyInvestmentMarketsoffice landlordreal estateremote workSocial IssuesUSUS Real Estate
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Office landlord defaults are on the rise throughout the United States as employees continue to work from home. The list of major commercial real estate landlords defaulting on their loans is beginning to climb, as more developers begin to realize that American workers are increasingly preferring to work remotely or via a hybrid model, which may leave…
US Default Would Cause Job, Benefits Losses, Yellen Tells Counties
WASHINGTON—U.S. Treasury Secretary Janet Yellen warned county leaders on Tuesday that their residents could lose jobs and federal benefit payments if Congress allows the United States to default on payment obligations by failing to lift the federal debt ceiling. Yellen, speaking to the National Association of Counties, offered no new details on when the U.S….
China’s Solar Energy Tycoon Detained by Authorities: Reports
January 16, 2023
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Li Hejun, the founder of China’s solar energy giant Hanergy Thin Film Power Group, was taken away by police in China’s northeastern Liaoning Province on Dec. 17, according to Caixin, a major Chinese financial news portal. Li was detained by police to “assist investigators” and hadn’t been seen as of the time of reporting, Caixin…
US National Debt Default Is a ‘Real Threat’ Both Sides Must Take Seriously: GOP Rep
January 16, 2023
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Rep. Don Bacon (R-Neb.) has warned that the risk of a U.S. national debt default is a “real threat” that must be taken seriously as Republicans push for spending cuts while the White House vows not to yield to the GOP in exchange for avoiding a debt ceiling standoff. “I think it is a real…
US National Debt Default Is a ‘Real Threat’ Both Sides Must Take Seriously: GOP Lawmaker
January 16, 2023
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Rep. Don Bacon (R-Neb.) has warned that the risk of a U.S. national debt default is a “real threat” that must be taken seriously, as Republicans push for spending cuts while the White House vows not to yield to the GOP in exchange for avoiding a debt ceiling standoff. “I think it is a real…
Default Risks Grow Across Most US Sectors in 2nd Quarter: S&P
The chances of default across a majority of U.S. business sectors rose in the second quarter, according to a new report by S&P Global Market Intelligence. The study found that every sector, except for financial institutions, posted a higher median market signal—a one-year probability of default score by the end of the April-to-June period—compared with…
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