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Bloomberg
A $1 Trillion Burden Looms For World Borrowers Refinancing Debt
(Bloomberg) — Governments and companies around the world are facing unprecedented costs to refinance bonds, a burden that’s set to deepen fissures in debt markets and expose more vulnerabilities among weaker borrowers. Most Read from BloombergCredit Suisse CEO Seeks to Calm Markets as Default Swaps ClimbTesla Deliveries Miss Estimates, Slowed by Logistic SnarlsOPEC+ to Consider Output Cut of More Than 1 Million BarrelsGet Ready for Another Bear-Market Rally, Strategist Emanuel SaysUkraine Lates
Bloomberg
Factories Making Towels and Bedsheets Are Shutting in Pakistan
(Bloomberg) — Pakistan’s small textile mills, which make products ranging from bedsheets to towels mainly for consumers in the US and Europe, are starting to shut after devastating floods wiped out its cotton crop.Most Read from BloombergCredit Suisse CEO Seeks to Calm Markets as Default Swaps ClimbTesla Deliveries Miss Estimates, Slowed by Logistic SnarlsOPEC+ to Consider Output Cut of More Than 1 Million BarrelsGet Ready for Another Bear-Market Rally, Strategist Emanuel SaysUkraine Latest: Ze
MarketWatch
Mortgage rates recently hit their highest level since 2007. Here’s what 5 economists and real estate pros say will happen next with rates
MarketWatch Picks has highlighted these products and services because we think readers will find them useful; the MarketWatch News staff is not involved in creating this content. Since the start of the year, mortgage rates have been trending upwards — and according to many experts, this trend will likely continue through October. Echoing that sentiment, Kate Wood, home expert at NerdWallet, says interest rates for 30-year fixed-rate loans appear to be staying over 6% and products like the 15-year fixed and the 5-year ARMs are averaging over 5%.
Motley Fool
Inflation Is Forcing 26% of Americans to Stop Paying Off Debts. Here’s How to Stay on Track
Given the way inflation has been wreaking havoc on consumers since mid-2021, it’s easy to see why some people may have racked up debt over the past year. Or, it could be that you had debt before inflation took hold, and that you’re still carrying a loan or credit card balance. Plus, paying off credit card debt in particular could work wonders for your credit score.
Associated Press
Russia smuggling Ukrainian grain to help pay for Putin’s war
When the bulk cargo ship Laodicea docked in Lebanon last summer, Ukrainian diplomats said the vessel was carrying grain stolen by Russia and urged Lebanese officials to impound the ship. Meanwhile, the Russian military has attacked farms, grain silos and shipping facilities still under Ukrainian control with artillery and air strikes, destroying food, driving up prices and reducing the flow of grain from a country long known as the breadbasket of Europe.
TheStreet.com
Elon Musk Sends Scathing Message to Tesla Investors
Elon Musk is not a Chief Executive Officer like the others. Tesla’s boss is atypical. The billionaire did not hesitate to relaunch the showdown with the U.S Security and Exchange Commission (SEC) despite a 2018 settlement with the regulator.
Associated Press
Europe faces ‘unprecedented risk’ of gas shortage, IEA says
Europe faces “unprecedented risks” to its natural gas supplies this winter after Russia cut off most pipeline shipments and could wind up competing with Asia for already scarce and expensive liquid gas that comes by ship, the International Energy Agency said. The Paris-based IEA said in its quarterly gas report released Monday that European Union countries would need to reduce use by 13% over the winter in case of a complete Russian cutoff amid the war in Ukraine. Much of that cutback would have to come from consumer behavior such as turning down thermostats by 1 degree and adjusting boiler temperatures as well as industrial and utility conservation, the group said.
Reuters
China’s Xiaomi says will protect business interests after assets frozen in India
Chinese smartphone maker Xiaomi Corp on Sunday said it was “disappointed” with an Indian order that froze $682 million of its assets and would continue to protect its interests. An Indian appellate authority on Friday confirmed an April order by India’s federal financial crime fighting agency, the Enforcement Directorate, to seize 55.51 billion rupees, saying a probe found Xiaomi had made illegal remittances to foreign entities by passing them off as royalty payments.
TipRanks
‘Stocks Are Looking Increasingly Cheap,’ Says J.P. Morgan; Here Are 2 Names to Consider
The stock market is often a game in reverse psychology. That is, when the mood gets too euphoric, it’s often a sign it is time to sell. Likewise, when sentiment hits the skids, that could be the ultimate signal the time is right to load up the truck. And on that subject, J.P. Morgan’s Marko Kolanovic thinks we are at – or at least near – the bottom. The firm’s global market strategist believes the Fed’s hawkish stance has left stocks “very oversold,” and while inflation remains persistently high
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