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Corporate debt maturities set to test US borrowers as rates rise

Sept 25 (Reuters) – A growing wall of US corporate debt is set to mature from 2027, putting pressure on companies to refinance borrowings raised ​at ultra-low interest rates during the pandemic. About $4.3 trillion of non-financial ‌corporate bonds issued…
Educational News

Student loan borrowers sue Trump administration over forgiven debts on credit reports

A group of student loan borrowers sued the Trump administration on Thursday, alleging they suffered unexpected financial damages despite getting their debts forgiven years ago. The borrowers said in their lawsuit, Woods v. U.S. Department of Education, filed in the…
Bankruptcy News

Higher interest rates squeeze younger and lower-income households. ‘A rate hike is a blunt tool,’ says expert

The Federal Reserve raised its benchmark interest rate at the conclusion of its September meeting and signaled another increase could be on the table this year. For consumers, the moves may significantly impact borrowing costs and savings returns. Generally, short-term…
Editorial News

Mortgage demand from homebuyers drops 19% from a year ago, as interest rates surge abruptly higher

Fast-rising interest rates are taking their toll on mortgage demand, as both potential homebuyers and current homeowners head to the sidelines. Total mortgage application volume dropped 4.1% last week compared with the previous week, according to the Mortgage Bankers Association’s…
Government News

‘Uncharted territory’: The $40 trillion U.S. national debt just got uglier as interest payments rise to $1.25 trillion a year

The federal interest burden has reached a new height, exceeding even the 1991 record, but analysts warn the risks associated with servicing the ever-growing national debt today are much higher than they were 35 years ago, analysts warn. A recent…
Legal News

FCC approves Gulf sovereign wealth funds to buy into Paramount

Paramount Global received approval Thursday from the Federal Communications Commission for three Middle Eastern sovereign wealth funds to hold 49.5% of its equity in connection with its proposed acquisition of Warner Bros. Discovery. The FCC’s Media Bureau granted the declaratory ruling, which…
Editorial News

Bond market rebuffs US treasury’s plan to buy back $6bn in government debt

Scott Bessent made announcement on Wednesday as bond yields rose to highest point since 2008 financial crisis The US treasury moved to cut the cost of borrowing on Wednesday only to be swiftly rebuffed by the bond market. Scott Bessent,…
Educational News

The 500 colleges where former students aren’t repaying their loans, and why

Five-hundred colleges and universities in the U.S. now share one alarming distinction: At least 40% of recent students who borrowed federal loans aren’t paying them back. That’s according to the latest federal nonpayment-rate data published by the U.S. Education Department. The data…
Bankruptcy News

Kennedy Center says it’s on the brink of bankruptcy, might close as early as Tuesday

On Sunday evening, the Washington Post reported that the Kennedy Center administration told its board that the arts institution is on the brink of bankruptcy — and that it might be forced to close as soon as Tuesday. Both the majority of the…
Government News

Treasury Department to buy back up to $6 billion in longer-term debt, triple the normal level

The Treasury Department on Wednesday said it will buy back up to $6 billion of government debt in an operation aimed at keeping bond markets functioning. The much-anticipated announcement triples the normal buyback operation and follows a statement Aug. 19…