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Livesquawk - Closing Wrap - Tuesday 14.09
Closing Wrap - Tuesday 14.09
  • McConnell: Republicans United In Opposing Raising US Debt Ceiling
  • SALT Cap Rollback For Two Years Debated By House Democrats
  • ECB's Schnabel: Not Expecting Inflation To Be Persistently Too High
  • ECB’s Weidmann Says Banks Shouldn’t Be Cosseted in Digital Money Plans
  • Dutch Ease COVID-19 Measures, Introduce 'Corona' Pass
  • Apple Reveals New iPhone 13 Pro, Mini And Watch
  • JPMorgan Sees Better-Than-Forecast Trading Revenue This Quarter
  • Goldman Sachs CFO Stephen Scherr To Depart, Replaced By Coleman
  • Tesla Probe Leads NHTSA To Request Documents From 12 Carmakers
  • Elizabeth Warren Asks The Fed To Break Up Wells Fargo
  • Boeing Delivers 22 Jets In August; 737 Max ‘White Tails’ Nearly Gone
Apple Reveals New iPhone 13 Pro, Mini And Watch

Apple has revealed its new iPhone 13 along with a string of other devices at an event this evening, hoping to build on record sales of the current iPhone 12.


In a virtual event, Tim Cook has so far revealed a new iPad, iPad Mini and a new Apple Watch Series 7.


He has also revealed the new iPhone 13 and iPhone 13 Mini, which come with a redesigned screen, an advanced smartphone chip, and a remodelled dual camera design. It has also revealed its Pro 13 and Pro 13 Max, which come with more responsive screen technology. (Telegraph – Continue Reading)

IIF: Global Debt Is Fast Approaching Record USD300 Trillion

Global debt rose to a new record high of nearly $300 trillion in the second quarter, but the debt-to-GDP ratio declined for the first time since the start of the pandemic as economic growth rebounded, the Institute of International Finance (IIF) said on Tuesday.


Total debt levels, which include government, household and corporate and bank debt, rose $4.8 trillion to $296 trillion at the end of June, after a slight decline in the first quarter, to stand $36 trillion above pre-pandemic levels.


"If the borrowing continues at this pace, we expect global debt to exceed $300 trillion," said Emre Tiftik, IIF's director of sustainability research.


The rise in debt levels was the sharpest among emerging markets, with total debt rising $3.5 trillion in the second quarter from the preceding three months to reach almost $92 trillion. (Reuters – Continue Reading)

US Bankruptcy Tracker: Distressed Retail Debt Pile Collapses

Distressed debt tied to retail enterprises is putting on something of a vanishing act.


The overall amount of tradeable troubled debt has shrunk from near $1 trillion in March of last year to less than $60 billion as of September 10, data compiled by Bloomberg show. And the portion of that from the retail industry has collapsed at an even faster clip.


In late March 2020, about $60 billion of distressed bonds and loans could be traced to the retail industry, data compiled by Bloomberg show. That pile stands at some $1.1 billion now, representing about a 98% decline. 


The retail industry has been in a tailspin for years, with brick-and-mortar sellers decimated by shifting consumer preferences and booming online rivals. The Covid-19 pandemic quickly made matters worse: lockdowns sent dozens of hobbled retailers into Chapter 11 bankruptcy, including the likes of J.C. Penney Co. and Brooks Brothers Group Inc.  (Bloomberg – Continue Reading)

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