The U.S. Department of Energy (DOE) announced on Monday the closing of a $2.5 billion loan to Ultium Cells LLC, a joint venture between General Motors and South Korea’s LG Energy Solution, aimed at financing the construction of three new lithium-ion battery cell factories. In a statement, the DOE said the loan will reinforce the “Biden-Harris Administration’s commitment…

WASHINGTON—The U.S. Energy Department said on Monday it had finalized a $2.5 billion low-cost loan to a joint venture of General Motors Co. and LG Energy Solution to help pay for three new lithium-ion battery cell manufacturing facilities. Reuters first reported in July the planned loan to Ultium Cells LLC from the government’s Advanced Technology…

Tesla Chief Executive Elon Musk said it was “generally wise” to avoid using margin loans on any company when there are macroeconomic risks involved, in response to a question on Twitter about the electric-vehicle maker’s stock performance. “When there are macroeconomic risks, it is generally wise to avoid using margin loans on any company, as…

CHICAGO—Montana farmer Sarah Degn had big plans to invest the healthy profits she gleaned for her soybeans and wheat this year into upgrading her planter or buying a new storage bin. But those plans have gone by the wayside. Everything Degn needs to farm is more expensive—and for the first time in her five-year career,…

The Biden administration on Tuesday announced it will extend its moratorium on student loan payments through June 30 as the program to cancel hundreds of billions of dollars in loans faces several court battles. Federal student loan bills were slated to resume on Jan. 1, 2023. Loan payments were placed on hold in early 2020 under…

CHICAGO—The U.S. Department of Agriculture will direct $73 million in grants to small- and medium-sized meat and poultry processors to expand their capacity and deliver more funds through lending programs, Secretary Tom Vilsack said on Wednesday. The money aims to increase competition and stability in the meat industry as part of a broader effort by…

A Louisiana attorney filed a lawsuit against the Biden administration’s student loan debt forgiveness plan, representing yet another legal challenge against the program. Attorney Tommy Badeaux filed (pdf) the suit in the U.S. District Court for the Eastern District of Louisiana in New Orleans and accused the White House of infringing on the Constitution’s separation of powers…

Credit scores are complicated and because rating agencies consider many factors, the process of improving them can look different for everyone. When Willard Carpenter, 68, wanted a loan to open a new business, he realized that his credit score was not high enough to get approved. After checking his credit history, he found several issues…

You know credit scores exist. You might even know what yours is. But do you know how it’s calculated and why it’s important? Your credit score affects whether you can get a credit card, rent an apartment, buy a house, start a business, or even get a cell phone contract. A low credit score can…

News Analysis A large number of Chinese Communist Party (CCP) officials reportedly get low-interest loans and then lend the money at high interest rates, forming a “grey channel” and accumulate wealth. According to the website of the Central Commission for Discipline Inspection on August 5, in Jiangxi Province, seven officials reaped extraordinary benefits from high-interest…