The U.S. President has proposed an annual interest rate of no more than 10 percent on credit card loans. A senior executive at JPMorgan Chase considers the proposal a vain attempt to help low-income borrowers. The average market interest rate on credit card loans is 22%.— economist.com The Unregulated Credit Card Loan Market A 10% … Continue reading The Credit Card Loan Market
Category: Economics in the News-Micro
Natural Gas Prices at Their Highest Level Since 2022
Meteorologists are warning of an extreme winter storm. As temperatures are expected to fall, U.S. residents will need more natural gas to heat their homes. Very low temperatures can also disrupt gas pipelines. A huge decrease in storage is expected. Natural gas prices are at their highest since 2022.—cnn.com
A Record Year for Airlines Is Not What It Seems
In 2025, airlines are expected to earn just $7.90 per passenger, yet total profits may reach $40 billion, according to IATA. As Boeing and Airbus struggled to raise production, airlines operated older aircrafts, increasing fuel and maintenance costs amidst rising demand.— economist.com
Warner Bros. Discovery Chooses Netflix Over Paramount
Warner Bros. Discovery (WBD) rejected Paramount’s bid and accepted Netflix’s offer for its streaming and studio assets. A key concern with Paramount’s proposal was the large amount of debt required. Antitrust authorities are expected to focus primarily on the paid streaming market when evaluating such mergers.—ft.com Market Data The U.S. paid streaming market shares (2025) … Continue reading Warner Bros. Discovery Chooses Netflix Over Paramount
Fairfield County and a K-Shaped Economy
A recent tax bill has increased income inequality in Fairfield County. Higher-income households, concentrated in towns like Greenwich, have seen rising after-tax incomes due to tax cuts. Lower-income households, concentrated in towns like Bridgeport, have experienced stagnant or declining incomes as eligibility for government benefits has been reduced.—ft.com
Patents on Semaglutide Due to Expire Next Year
Patents on semaglutide—the active ingredient in Wegovy and Ozempic, the widely popular weight-loss treatments made by Novo Nordisk, a Danish pharma giant, are due to expire next year.—economist.com
How Does Prize Money Work in Tennis?
Tennis players participating in tournaments are compensated based on the round in which they lose, with payouts escalating exponentially as the player continues to win. A first-round loser at the 2025 Miami Open received $23,760, the tournament runner-up won $598,000, and the champion won $1.12 million.—sportico.com The Darker Side of Tennis Players’ Earnings Tennis has … Continue reading How Does Prize Money Work in Tennis?
Income Tax Thresholds in the UK
In 2022, the UK froze income tax thresholds instead of raising them each year in line with inflation. The current Chancellor (Finance Minister) is being advised to extend the freeze for another two years.—theguardian.com
Minimum Wage Rise Risks Job Cuts and Inflation
The Isle of Man plans to raise the hourly minimum wage from £12.25 to £13.46 in April. A Chamber of Commerce survey found that 21% of firms may cut staff and 8% may freeze hiring. Prices are expected to rise too.—bbc.com, The currency of the Isle of Man is the Manx pound, which shares the … Continue reading Minimum Wage Rise Risks Job Cuts and Inflation
Tax Cuts in India
On September 29, 2025, life-saving drugs will become tax free in India and the goods and services (GST) tax on discretionary items like TVs will drop from 28% to 18%.—bbc.com