US interest payments on debt outpace annual defense spending
The US government interest payments on the Federal debt are now higher than the annual defense spending. This is most likely the beginning stage of a trend, and unless no…
China’s ongoing battle
China’s biggest state-owned banks are selling dollars in attempt to slow yuan’s rapid depreciation, according to Reuters. Also an easing of cross-border financing rules was announced, making it easier for…
CRE Dominos Fall: Starwood Defaults On $212.4 Million Atlanta Office Tower
Starwood Capital Group has defaulted on a $212.5 million mortgage backed by an office building in Sandy Springs, an ultra-wealthy suburb in northern Fulton County, Georgia, just above Atlanta. The…
Europe still cannot go without Russian gas, IEA warns
The European Union has sufficient gas reserves for the winter but could face a shortage next year if Russia cuts supplies further, Reuters reported, citing a fresh report by the…
Credit Suisse inquiry to keep files secret for 50 years
A parliamentary investigation into the collapse of Credit Suisse will keep its files closed for as long as 50 years, according to a parliamentary committee document. The investigation committee will…
Consequences of no grain deal
Suspending the Black Sea Grain Iniative will mostly hurt Ukraine, the EU and Türkiye and will trigger a price hike, experts said. Extending the grain deal was more favorable not…