1. Us credit card defaults jump to highest level since 2010
Consumer credit stress in the United States has intensified, with default rates on credit cards reaching their highest levels since the aftermath of the global financial crisis. The rise is fuelling fresh concerns about household debt sustainability and the possible knock-on effects on bank earnings.
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2. London lawyer hiring frenzy hits record as pay wars rage
London’s top law firms are locked in a fierce competition for legal talent, pushing salaries for junior associates to record highs. The recruitment boom reflects a post-pandemic surge in dealmaking and regulatory work, with no signs of slowing down.
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3. UnitedHealth under criminal probe for possible Medicare fraud
UnitedHealth Group is under a criminal investigation by the US Department of Justice over potential Medicare billing fraud. The probe has rattled markets, with the healthcare giant’s shares plunging 8% in after-hours trading as investors digest the implications.
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4. S&P 500 rally wavers as buyer fatigue kicks in
The S&P 500 index has stalled after a strong recovery in early May, as investor caution grows amid mixed economic data. Analysts suggest the recent gains may have outpaced fundamentals, leading to profit-taking and renewed volatility.
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5. Gold price forecast: XAU/USD posts modest gains above $3,150 on better risk appetite
Gold prices have inched higher, trading above $3,150 per ounce as investors grow more optimistic about market risk. The metal’s rise follows a softening dollar and expectations of stable interest rates, reinforcing its status as a hedge.
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