BREAKING: Andy Burnham set to become Britainβs next prime minister after winning backing from a majority of Labour MPs
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BREAKING: US consumer credit fell -$182 million in May, the first monthly decline since November 2024.
This was significantly below expectations of a +$17.5 billion increase and followed a +$20.8 billion increase in April.
The decline was driven by revolving credit, which includes credit cards, plunging -$5.3 billion, the 2nd-largest monthly drop since November 2020.
This comes after a +$11.5 billion and +$10.7 billion increase in April and March.
At the same time, non-revolving credit, which includes auto and student loans, jumped +$5.1 billion, the smallest monthly increase since February.
Meanwhile, the average interest rate on credit cards rose to 22.15%, near the highest on record.
Is consumer borrowing reaching a tipping point?
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This was significantly below expectations of a +$17.5 billion increase and followed a +$20.8 billion increase in April.
The decline was driven by revolving credit, which includes credit cards, plunging -$5.3 billion, the 2nd-largest monthly drop since November 2020.
This comes after a +$11.5 billion and +$10.7 billion increase in April and March.
At the same time, non-revolving credit, which includes auto and student loans, jumped +$5.1 billion, the smallest monthly increase since February.
Meanwhile, the average interest rate on credit cards rose to 22.15%, near the highest on record.
Is consumer borrowing reaching a tipping point?
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NEW: Iran buries former Supreme Leader Khamenei in Mashhad following massive funeral procession
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Introducing NEOβs 25 Degrees of Freedom, tendon-driven hands β nearing or surpassing human-level dexterity, strength, speed, and reliability.
For seventy years, robotics worked around the hand problem. The humanoid bet is the reverse: it lives or dies at the fingertips.
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For seventy years, robotics worked around the hand problem. The humanoid bet is the reverse: it lives or dies at the fingertips.
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DEMOCRATS: The new strategy of the Democrat Party to seize power is to destroy America through violent revolution. These people want us dead
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Every time I see this smol cat I feel a titanic urge to level entire cities. Anything to protect it
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"All I did was ask them to remove a woman from the plane and they kicked me off the flight, Jerry!"
"That's all you did?"
"Yeah... basically."
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"That's all you did?"
"Yeah... basically."
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TEXAS SENATE RACE: Confronted over his insistence on exposing a child sexual assault victim's private information, James Talarico (CIS) said "the victim is not the issue here." His own words say it all. A child victim's rights mean nothing to his political ambitions
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BREAKING: Illegal immigrant has been arrested after firebombing 2 churches in New York City.
Yogesh Sayrange, a Guyanese citizen who is living in the U.S. illegally, has pending criminal cases involving threats with a knife and an ax.
Federal authorities were already searching for Sayrange in connection with the June 25 firebombing of a Brooklyn smoke shop, where he was allegedly seen wearing a Guy Fawkes mask.
He is now expected to face additional federal charges related to the church attacks, on top of the smoke shop case.
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Yogesh Sayrange, a Guyanese citizen who is living in the U.S. illegally, has pending criminal cases involving threats with a knife and an ax.
Federal authorities were already searching for Sayrange in connection with the June 25 firebombing of a Brooklyn smoke shop, where he was allegedly seen wearing a Guy Fawkes mask.
He is now expected to face additional federal charges related to the church attacks, on top of the smoke shop case.
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BREAKING: Total US oil product exports surged to a record 8.7 million barrels per day last week.
The increase was led by propane, followed by diesel, gasoline, and jet fuel cargoes.
Most US diesel exports are headed to Brazil and the rest of South America, while ~14% is bound for Europe.
Since March, US oil product exports have risen +2.0 million barrels per day, or +30%.
By comparison, in early 2022, refined product shipments briefly fell below 4.0 million barrels per day.
This comes despite weekly crude oil exports declining -3.1 million barrels per day from their April peak, to 3.3 million barrels per day, close to the average levels seen over the last 2 years.
Global demand for American fuel is skyrocketing.
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The increase was led by propane, followed by diesel, gasoline, and jet fuel cargoes.
Most US diesel exports are headed to Brazil and the rest of South America, while ~14% is bound for Europe.
Since March, US oil product exports have risen +2.0 million barrels per day, or +30%.
By comparison, in early 2022, refined product shipments briefly fell below 4.0 million barrels per day.
This comes despite weekly crude oil exports declining -3.1 million barrels per day from their April peak, to 3.3 million barrels per day, close to the average levels seen over the last 2 years.
Global demand for American fuel is skyrocketing.
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