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US Credit Card Debt Takes Aim at $1 Trillion

It’s taken a little longer than originally estimated, but the total amount of U.S. consumer credit card debt is about to reach $ 1 trillion. At the end of last year, U.S. credit card debt stood at $ 980 billion, just missing a prediction that the $ 1 trillion mark would be reached in 2016. The average American household increased ...

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Northern Rock: How the crisis improved savers' protection

The safety net for savings has been strengthened considerably since the queues outside Northern Rock 10 years ago, but savers still face pitfalls. When customers led the first run on a British bank for more than a century, only the first £31,700 of savings was guaranteed. Now the first £85,000 per person, per institution is protected under the Financial Services ...

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Stocks: 6 things to know before the opening bell

Click chart for in-depth premarket data. 1. North Korea fears ease: Global stock markets are rising and gold prices are falling as investors shrug off continued tensions over North Korea. North Korea commemorated the 69th anniversary of its … Business and financial news – CNNMoney.com

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In Threat to Boeing, China Jumbo Jet Will Use Chinese Engines

The concern that China will successfully build its own commercial jets and threaten the revenue of Boeing Co. (NYSE: BA) and Airbus took a step forward today. And the Chinese threat moved to General Electric Co. (NYSE: GE) and Rolls Royce, which make large jet engines. Chinese businesses will build engines for the new C-919 jumbo jet. According to the People’s ...

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6 Most Important Things In Business Today

Hurricane Irma was downgraded to a Category 1 hurricane, but not before doing what could be $ 200 billion in damage. Not only were homes and commercial property damaged, but critical infrastructure which included Miami International Airport were decimated. Over 3 million people were left without power. Equifax (NYSE: EFX) faces a rising number of complaints after a breach which ...

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Petra Diamonds shares drop as Tanzania continues sector crackdown

Petra Diamonds shares have fallen 7% after it said a parcel of its diamonds mined in Tanzania had been blocked from export by the country’s government. Several of its employees are being questioned by the country’s authorities, although Petra says it has not formally been told the reasons why. The country’s government has passed new laws raising mining taxes and ...

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Hurricane Irma wrecks Sir Richard Branson's Necker Island home

Sir Richard Branson says most of the buildings and vegetation on Necker, his Caribbean island, have been destroyed or badly damaged by Hurricane Irma. Necker is among the 50 British Virgin Islands (BVI). Sir Richard says he has visited the nearest ones to Necker and has seen “first-hand how ferocious and unforgiving this storm was”. … BBC News – Business

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