When interest rates rise, most people feel the financial pinch as repayments for home loans, car purchases or personal loans increase. This leads to less money for everyday spending and tightens the household budget. Middle- and upper-income households tend to hold secured debt such as property, which builds wealth. Lower-income households are pushed into debt…
Imagine it’s 2036. Unemployment has been halved, business confidence is robust, and millions of small and medium-sized enterprises are powering sustainable growth. South Africa finally looks like a country realising its potential. At the heart of this shift is a simple but transformative change: the widespread adoption of PayShap, a low-cost instant payment system that…
JPMorgan Chase CEO Jamie Dimon pushed back on calls by the administration of United States President Donald Trump to cap credit card interest rates, claiming that if Congress follows through, it would result in an “economic disaster”. Dimon made his comments on Wednesday at the World Economic Forum in Davos, Switzerland. Recommended Stories list of…
Reuters A person of interest has been detained in connection with a US shooting at Brown University that left two people dead, police said. Nine others were injured when a gunman opened fire at the university in Providence on Saturday. Police confirmed on Sunday a person had been detained, and an earlier order for people…
COPENHAGEN, Denmark – Some Danes told CBS News on the streets of Copenhagen they are increasingly worried about their country’s security because of what they see as the growing threat from nearby Russia and concerns over the reliability of the Trump White House as an ally. Kenneth Howery, the new U.S ambassador to Denmark, is…
When Hou Yujie isn’t convincing customers to rent traditional Chinese clothing for photos at the country’s famous Forbidden City, she and her friends are checking stocks. Hou recently put 10% of her money in the market. In just a few days, she earned one month’s salary — and she’s thrilled. “Interest rates for bank deposits…
A Union flag flutters from a pole atop the Bank of England, in the City of London on August 7, 2025. Niklas Halle’n | Afp | Getty Images Traders see a growing likelihood the Bank of England will keep interest rates on hold for the rest of the year, after inflation came in at a…
New York — Today, 3.4 billion people live in countries that spend more on debt interest payments than on health or education. This marks a trembling indication that the United Nations’ promise for the 2030 Agenda could be slipping away. With less than five years left, developing countries are facing an estimated USD 4 trillion…
African e-commerce company Jumia Technologies has drawn takeover interest from telecommunications company Axian Telecom, people familiar with the matter said. Axian, which is based in Mauritius and primarily offers telecommunications services in Africa, raised US$600-million this week to refinance its debt and help fund a possible takeover of Jumia, the people said, asking not to…
U.S. Federal Reserve Chair Jerome Powell looks on, on the day he testifies before a Senate Banking, Housing and Urban Affairs Committee hearing on “The Semiannual Monetary Policy Report to the Congress,” on Capitol Hill in Washington, D.C., U.S., June 25, 2025. Kevin Mohatt | Reuters It’s the what-could-have-beens that hurt the most. The childhood…
