US credit card debt climbs to $1.26tn, nearing last year’s record high
US credit card debt reached $1.26 trillion between April and June, approaching last year’s record high of $1.28 trillion, according to Federal Reserve data released Tuesday.
Twitch faces backlash over Amazon using content to train AI
Twitch users have criticized the streaming platform for allowing Amazon to use their content to train AI models through a default setting, though users can opt out of the feature.
Water bills set to rise for many after firms permitted extra funding
Water companies in England and Wales have been provisionally approved to increase customer bills by an extra £3.4bn over coming years to address infrastructure pressures and environmental challenges.
Harvey Nichols bought by owner of Sports Direct
Frasers Group, owner of Sports Direct, has acquired luxury department store Harvey Nichols, which appointed administrators in June after facing sustained trading challenges.
We learned 5 important things about the economy this week
Federal data released this week shows inflation slowing to a 3.4% annual rate, though prices remain elevated across groceries and fuel. Meanwhile, wage growth has cooled and retail sales declined in July, presenting mixed signals about the economy’s trajectory.
Housing investors say this is their worst market in at least 3 years
Housing investors report their lowest confidence levels in at least three years, citing elevated interest rates, rising insurance and home costs, and geopolitical concerns as primary obstacles to market activity.