Joseph Branch

Joseph Branch

Americans' credit card debt hits record $866 billion in Q3

Americans' bank card debt reached a record $866 billion in the third quarter, up 19% from a year earlier. That's according to a report from credit agency TransUnion. The data indicates that people are turning to credit cards and unsecured loans to cope with high inflation amid rising borrowing costs

Russia increased oil production before the embargo

Russia Increased Oil Production by Two Percent Before Embargo Russia before the introduction of the EU embargo was able to increase oil production by two percent in November, to almost 1.49 million tons per day, Kommersant wrote, citing a source familiar with the statistics. Since the beginning of the

How are turkeys affecting the U.S. economy?

Axios: U.S. consumers are concerned about turkeys "losing weight. The average weight of the Thanksgiving symbol raised in the U.S. has dropped by 2 pounds in 2022. The number of turkeys raised on U.S. farms is also declining, with 212 million expected in 2022 versus 216.5

The government has considered Russian analogues of Instagram*, TikTok, Zoom and other foreign services

For example, the developers of the social network Looky from Motivational Solutions LLC will allow to transfer photos, stories, subscriptions and subscribers from Instagram and are going to introduce on their site a system of automatic content pre-moderation and formation of user content feed using machine learning technology. They expect

It makes sense to slow down the pace of rate hikes a bit, - Mester of the FSR

In an interview for CNBC, Mester said that the rate hike step at the December meeting could be below 0.75% (i.e. 0.5%). According to her, the Fed is already seeing the results of its policies and is willing to slow the pace of tightening. Nevertheless, markets have

Construction of LNG terminals will cost Germany more, Spiegel

The construction of mobile LNG terminals will cost the German budget almost twice as much as originally planned. The publication writes that the Ministry of Economics in 2022 was going to spend about 3 billion euros on terminals, and now the estimate has increased to 6.56 billion. One of

Nobel Prize winner Paul Krugman in a column for the New York Times: The crypto industry probably won't survive regulation

The renowned economist reflects on recent developments in the industry and believes that the collapse of FTX will lead to an imminent tightening of controls. Krugman writes that since the Satoshi White Paper was published in 2008, cryptocurrencies have never fulfilled the traditional role of money. He adds that bitcoin

The pound sterling loses about 1% again

The new Chancellor of the Exchequer, Hunt, says he will raise taxes on the rich but remove tax breaks for the masses. The Treasury also sees the risks of rising inflation and a severe recession in 2023. The pound did not like the Treasury chief's speech.

The Ministry of Finance has no plans to extend preferential mortgages, and this is a dangerous decision

Earlier Marat Khusnullin said that the government must support the industry, otherwise we will have a crisis. The increase in concessional mortgage rates could lead to a sharp drop in housing costs and a crisis of "non-payment" by developers. Demand for mortgages is already low: Russians are not willing to

The Central Bank will introduce new investor protection rules - Izvestia

Investors will be able to forbid brokers to conduct transactions with their money with leverage, as well as with derivative financial instruments. Citizens will be able to independently determine what transactions brokers can perform with their assets. Brokers will also have to warn their clients about the risks of the