Organizers claimed that nearly 2 million Hong Kong protesters took to the streets Sunday in a rally to demand the city's top official resign a day after she suspended — but...China Politicsread more
African swine fever, which has already ravaged pig herds in China and pushed up food prices there, could also drive up inflation in the other emerging markets, according to...Asia Economyread more
Consumer goods giant Unilever has taken the unusual step of having some of its marketing staff read their own DNA profiles to see whether finding out about their heritage has...Marketing.Media.Moneyread more
Stocks in Asia were mixed on Monday as investors await a U.S. Federal Reserve meeting set to happen later in the week stateside.Asia Marketsread more
In the survey, 66% of Democratic primary voters say they'd be enthusiastic or comfortable about Biden as their nominee to take on President Trump in the 2020 election. Just...Politicsread more
Heavy rains caused unprecedented delays in planting this year and contributed to record floods across the central United States.Agricultureread more
Target's registers were down on Saturday for several hours preventing customers from checking out.Retailread more
Although Cook did not mention companies by name, his commencement speech in Silicon Valley's backyard mentioned data breaches, privacy violations, and even made reference to...Technologyread more
U.S. ambassador to Israel David Friedman called the gesture a "birthday present" to Trump, who turned 73 on Friday.Politicsread more
The outlook for Germany's economy and political stability are more uncertain than ever, writes Michael Ivanovitch.World Economyread more
The agreement, which is on the framework for the plan of adjustment, provide for more than a 60% average haircut for all $35 billion, a 36% haircut on pre-2012 general...Bondsread more
America's credit card debt is the highest it's ever been, surpassing $1 trillion in 2017, according to Federal Reserve data. But where in the U.S. is that debt concentrated the most?
A new analysis by CreditCards.com identifies the cities where people are struggling with the highest average credit card debt. The study only reviewed the 25 most populous metropolitan areas, and ranked them accordingly.
The Washington, D.C., Dallas-Fort Worth and New York metropolitan areas have the highest average debt in absolute terms.
But Washington, D.C., ranks among the lowest in terms of credit card burden. That's because it has the highest median income on the list.
The survey calculated which cities feel the heaviest debt burden based upon average debt relative to median income.
That analysis evaluated how long it would take someone earning their metro area's median income to pay off their metro area's average credit card debt. That's assuming he or she allocated 15 percent of gross monthly income toward paying off their debt, which CreditCards.com recommends.
The calculation also identifies how much interest he or she would pay in that duration, based on the average annual percentage rate of 13 percent, according to the Fed's January 2018 consumer credit report.
The San Antonio metro area ranked highest in debt burden, followed by Miami-Fort Lauderdale-West Palm Beach and then Houston.
Highest credit card debt burdens
Lowest credit card debt burdens
2018 is a crucial year for knocking out credit card debt, said Matt Schulz, senior industry analyst at CreditCards.com. That's because debt will only get more expensive as interest rates keep climbing. He sees delinquencies continuing to trend upward this year as debt and interest rates increase.
"What's troubling is that when people carry debt during good economic times, it makes them less likely to be putting away money for when times eventually turn bad," Schulz said.
The economy is good now, but when it turns a corner, "you could have a lot of people who could be in trouble," Schulz said.