1. US credit card defaults reach highest level since 2010
A surge in US credit card defaults has raised concerns about consumer debt sustainability and the broader economic outlook.
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2. Federal Reserve signals delay in interest rate cuts
Federal Reserve officials express caution, indicating that interest rate cuts may be postponed until there’s more certainty that inflation is under control.
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3. Big tech rally stalls amid AI demand and trade tensions
Despite growing demand for AI technologies, major tech shares face headwinds due to escalating trade tensions with China, causing a pause in the sector’s rally.
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4. Jobless claims rise and consumer credit tightens
An increase in US jobless claims, partly due to seasonal factors and recent natural disasters, alongside tighter consumer credit, suggests a potential economic slowdown.
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5. London law firms experience hiring frenzy amid pay wars
London’s legal sector sees a record number of partner moves as firms compete fiercely for talent, leading to unprecedented salary increases.
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