Tag: loans

EXPLAINER: What to know about ‘buy now, pay later’!

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Americans have become fond of the “buy now, pay later” services, but the “pay later” part is becoming more difficult for some borrowers. Buy Now and Pay Later loans allow users to pay for items such as new sneakers, electronics or luxury goods in installments. Companies like Affirm, Afterpay, Klarna, and PayPal have built popular financial products around these short-term loans, especially for younger borrowers, who fear never-ending credit card debt. Now, with the industry overwhelmed with customers, defaults are escalating. Inflation puts pressure on consumers, making it more difficult…

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America’s employers slowed their hiring in August in the face of rising interest rates!

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Washington – US employers slowed hiring in August in the face of rising interest rates, high inflation and slowing consumer spending, all of which dampened the outlook for the economy. The government reported Friday that the economy added 315,000 jobs last month, down from 526,000 in July and below the average gain of the previous three months. The unemployment rate rose to 3.7%, from a half-century low of 3.5% in July, as more Americans moved away from the sidelines to look for jobs and did not immediately find work. The…

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