Credit card debt 30 or more days late rose to 7.2% in the second quarter, up from 6.5% in Q1 and the highest rate since the first quarter of 2012.
Banks hit with $549 million in fines for use of Signal, WhatsApp to evade regulators’ reach
Wells Fargo, a relatively small player on Wall Street, racked up the most fines Tuesday, with a total of $200 million in penalties.
Philadelphia Fed President Patrick Harker suggests interest rate hikes are at an end
A voter this year on the rate-setting FOMC, Harker noted progress in the fight against inflation and confidence in the economy.
Stocks making the biggest moves premarket: UPS, Lucid, Beyond Meat, Novo Nordisk and more
These are the stocks posting the largest moves in premarket trading.
Moody’s cuts ratings of 10 U.S. banks and puts some big names on downgrade watch
Moody’s on Monday cut the credit ratings of a host of small and mid-sized U.S. banks and placed several Wall Street big names on negative review.
Italian bank shares slide after government surprises with windfall tax
Italian banking shares took a beating on Tuesday after Italy’s cabinet surprised with a 40% windfall tax on lenders’ “excess” profits in 2023.
Champagne sales are booming. But its taste could soon change forever — thanks to climate change
Europe’s soaring temperatures and increasingly volatile weather are sparking fears that France’s Champagne region could become unsuitable for its production.
China releases plans to restrict facial recognition technology
China is planning to restrict businesses’ use of facial recognition technology in favor of non-biometric methods, according to the Cyberspace Administration.
Stocks making the biggest moves after hours: Chegg, Beyond Meat, Paramount Global, Celanese and more
These are the stocks posting the largest moves in extended trading.
Apple extends its post-earnings decline. Here’s what the pros are saying
Pros on CNBC discussed Apple as the stock continued to fall following its worst week of 2023.