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☆ Once you hit this credit score 'you're good,' says credit expert—here's how to get even better
▼ + stars: | 2024-06-19 | by ( Ryan Ermey | ) www.cnbc.com time to read: +5 min

"Once you've hit the mid 700's you're good. If you run a $5,000 balance on a credit card with a $10,000 limit, for instance, your ratio is 50%. To boost your score, credit experts recommend keeping your ratio under 30%, and ideally as low as 10%. That might mean cutting back on spending, asking your credit card company to raise your limit or opening a new credit card — as long as it won't encourage you to spend more. Add more good information to your credit historyEven if you have blemishes on your credit history, "you can offset them by filling up your report with good things," says Rossman.

Persons: you've, Ted Rossman, it's, Rod Griffin, Griffin, AnnualCreditReport.com, You'd, Rossman Organizations: Bankrate, Experian, CNBC

☆ Medical Debt Shows Up Less Often on Credit Reports
▼ + stars: | 2024-05-03 | by ( Ann Carrns | ) www.nytimes.com time to read: +1 min

Rohit Chopra, the bureau’s director, said in a statement that “further reforms” were needed to scour medical debt from credit histories. The bureau is considering a rule to ban medical debt from consumer credit files. The bureau estimated in a 2022 report that well over half the debt that appeared on credit reports as being in collection was medical debt. People can incur medical bills unexpectedly, and many think that their health insurance will cover the costs. And the consumer bureau previously found that medical collection debt reported to the credit bureaus was “plagued by inaccuracies.”

Persons: —, TransUnion —, Rohit Chopra Organizations: Consumer Financial

Best 0% Intro APR Business Credit CardsU.S. Bank Business Triple Cash Rewards World Elite Mastercard® : Best overall for high rewards and long 0% intro APR: Best overall for high rewards and long 0% intro APR Ink Business Cash® Credit Card: Best welcome offerThe American Express Blue Business Cash™ Card: Best for easy rewardsThe Blue Business® Plus Credit Card from American Express: Best for flexible rewardsU.S. Bank Business Platinum Card: Best for balance transfersBank of America® Business Advantage Customized Cash Rewards Mastercard® credit card : Up to 5.25% cash back for Bank of America Preferred Rewards for Business customersCompare the Best 0% APR Business Credit CardsBest for generous cash back rewards and long 0% APR U.S. Bank Business Triple Cash Rewards World Elite Mastercard® Insider’s Rating Info icon Insider's Ratings are decided by our editorial team. Features to Look For in 0% APR Business Credit CardsThe best 0% APR business credit cards either offer generous terms for zero interest, or high rewards for spending on the credit card. 0% APR Business Credit Card Frequently Asked QuestionsDo 0% APR business credit cards exist? Yes, many 0% APR business credit cards allow balance transfers from other credit cards, including business cards. While using more of your available credit can impact your credit and credit score, this doesn't typically apply to business credit cards.

Persons: you'll, APRs, Cash, you've, You've, Cardholders, cardholders, They'll Organizations: Business Insider, U.S . Bank Business, Cash, Mastercard, Bank of America, Cards, Bank Business, American Express, Bank, of America, Rewards, EV, Ink, FDIC, Express, U.S . Bank, Business, U.S, Chase, . Bank, Chevron Locations: Chevron

☆ Fitch downgrades China’s credit rating outlook over economic worries
▼ + stars: | 2024-04-10 | by ( Juliana Liu | Wayne Chang | ) edition.cnn.com time to read: +2 min

Hong Kong CNN —Fitch downgraded its outlook on China’s credit rating on Tuesday, citing increasing risks to its finances as it faces economic challenges. Lowering its outlook from stable to negative does not automatically mean the ratings agency will downgrade China’s creditworthiness, but it increases the chances. Fitch has kept its rating on Chinese sovereign bonds at A+. Fitch believes the general government deficit will rise to 7.1% of gross domestic product in 2024 from 5.8% last year. In December, rival ratings agency Moody’s downgraded its outlook on China’s credit rating from stable to negative, citing risks related to “structurally and persistently lower medium-term economic growth” and ongoing troubles in its property sector.

Persons: Hong Kong CNN — Fitch, China’s, Fitch, “, Moody’s Organizations: Hong Kong CNN, Finance, Fitch Locations: China, Hong Kong

Here's what to know about business credit card pre-approval, and some pre-approved business credit cards to consider. What preapproval means for business credit cardsPre-approved business credit cards give you an idea of your approval odds before you complete a full credit card application. Check your business credit report for opportunitiesIt may be a good idea to check your business credit report before checking for pre-approval. Checking your business credit will help you see where your business credit stands, and how your current finances might affect your credit application. Most business credit card pre-approvals require the business owner's basic business information, including the business name, type, Employer Identification Number (EIN), and revenue.

Persons: —, Bradstreet, you'll, you've Organizations: Service, Chase, Capital Locations: Dun, Chevron

The information for the following product(s) has been collected independently by Business Insider: Navy Federal Credit Union® Platinum Credit Card, Navy Federal Credit Union® More Rewards American Express® Credit Card, Navy Federal Credit Union® nRewards® Secured Credit Card, Citi® Diamond Preferred® Card, Citi® Diamond Preferred® Card. Navy Federal Credit Union® Platinum Credit Card QualificationsYou'll need to be a Navy Federal Credit Union member to be eligible for the Navy Federal Credit Union® Platinum Credit Card. Navy Federal Credit Union® Platinum Credit Card RewardsThe Navy Federal Credit Union® Platinum Credit Card doesn't earn rewards from spending. Navy Federal Credit Union® More Rewards American Express® Credit Card vs. Navy Federal Credit Union® Platinum Credit CardThe Navy Federal Credit Union® More Rewards American Express® Credit Card is designed for consumers with good to excellent credit. Navy Federal Credit Union® nRewards® Secured Credit Card vs. Navy Federal Credit Union® Platinum Credit CardThe Navy Federal Credit Union® nRewards® Secured Credit Card is designed for people who want to build or repair their credit, and may be a good option if you can't qualify for a Navy Federal Credit Union® Platinum Credit Card due to low credit.

Persons: Federal nRewards, cardholders, Read, Cardholders, — Organizations: Business Insider, Navy Federal Credit, Card, Navy Federal Credit Union, Citi, Federal Credit, Credit, National Guard, Department of Defense, DOD, The Navy Federal Credit, Federal Credit Union, Emergency Assistance Navy Federal Credit, Federal, American, Walmart, Wells, Citi Diamond Preferred, Navy, Navy Federal, of Defense, Business Locations: Wells

☆ Retailers like Peloton and Saks keep paying vendors late, signaling possible 'financial distress'
▼ + stars: | 2024-04-04 | by ( Gabrielle Fonrouge | In Gabrielle-Fonrouge | ) www.cnbc.com time to read: +13 min

To be sure, late payments don't always signal financial troubles. Creditsafe spokesperson Ragini Bhalla said payment data is only one factor the firm considers when assessing a company's financial health. Though the data "doesn't represent a company's total trading behavior, analysis has proven that it is hugely predictive of a company's financial health and creditworthiness," Bhalla said. "When the number of late payments increases like this, it's often indicative of financial challenges and poor cash flow forecasting," Creditsafe said. While Saks often made late payments last year, its on-time payments have dropped significantly since October 2023, the firm said.

Persons: Saul Loeb, Perry Mandarino, Mandarino, Creditsafe, Ragini Bhalla, Bhalla, Barry McCarthy, Simeon Siegel, Siegel, he's, Peloton's DPO, Marc Metrick, Metrick, Mark Still, Stewart Glendinning, Tim Baxter Organizations: Saks, Washington , D.C, AFP, Getty, Bed, RadioShack, CNBC, Retailers, Body, Body Works, Riley Securities, BMO Capital Markets, Business of Fashion, HBC, Express, Street, Creditsafe, Economic Security, IRS, New York Stock Exchange, Bath Locations: Washington ,, Express, Creditsafe, U.S

☆ Plan to buy a home in the next year or two? Here are 5 steps to take now to get your finances ready
▼ + stars: | 2024-04-04 | by ( Jeanne Sahadi | ) edition.cnn.com time to read: +7 min

Mortgage lenders will consider lots of different metrics and circumstances when assessing your creditworthiness. Check your credit reports and credit scoresTwo other factors lenders will consider are your credit history and credit score. Kill the credit card debtA key way to improve your credit score is to reduce your credit card debt. “The minute they pull your credit score, it is going to [reflect] what is on my credit card that day,” MBA’s Seiler said. “Because there are many variables that affect an individual consumer’s credit score, we can’t say a specific number of months,” FICO’s Zeibert said.

Persons: ”, Avi Adler, Sara Zuckerman, Margaret Poe, Poe, you’ll, Eddie Seiler, Joe Zeibert, You’re, ” Adler, MBA’s Seiler, ” FICO’s Zeibert, “, ” Seiler, Zuckerman, Adler, ” Zuckerman Organizations: New, New York CNN, Long & Foster, Consumer Financial, Bureau, Mortgage, Association Locations: New York, annualcreditreport.com, TransUnion

The role of credit bureaus in credit card applicationsCredit bureaus play a pivotal role in the credit card application process. How credit bureau information influences approval decisionsCredit bureau information plays a pivotal role when financial institutions make credit decisions. Credit bureau reporting frequently asked questionsDo all banks use the same credit bureau for credit card applications? Even though the three credit bureaus score credit slightly differently, improving your credit habits will typically raise your score across the board. Our guide to the best credit cards for pre-approval can help you identify which credit cards you're most likely to be approved for.

Persons: you'll, Here's, TransUnion, Experian, Banks, Chase, —, cardholders, Discover's, Wells, Wells Fargo, Wells Fargo's, that's Organizations: Vantage, Bank, American Express, American Express American, Credit, Bank of America Bank of America, Bank of America, Chase Chase Bank, Chase, Capital, Citi Citi, Citi, Discover Discover Locations: Equifax, Transunion, Wells Fargo Wells, Experian, Wells, Chevron

☆ Baltimore’s economy has been humming. Then a bridge collapsed
▼ + stars: | 2024-04-02 | by ( Bryan Mena | ) edition.cnn.com time to read: +6 min

Baltimore’s regional economy has a lot going for it such as low unemployment and low inflation. That’s well below the national rate of 3.9% in February and ranks 43rd out of 389 regions across the country with more than one million residents. Low inflationThe US economy is still dealing with high inflation, but that’s not much of a problem for the Baltimore metro. Inflation in Baltimore slowed dramatically last year from April to June, falling to a 2.8% annual rise from April’s 5.3%. Like across the country, rising energy prices have recently pushed up overall inflation in the Baltimore metro.

Persons: Francis Scott Key, Prince, it’ll, Matt Rourke, Matt Jaffe, “, ” Jaffe, that’s, That’s, ” Christina DePasquale, Johns, Freddie Mac Organizations: Washington CNN, CNN, Towson, Labor Department, Washington D.C, U.S, Baltimore, Johns Hopkins Carey Business School, National Association of Realtors, NAR, Fed Locations: Baltimore, Port, Baltimore County, Columbia, Boston, Orlando, Atlanta, Washington, Dundalk, Md

☆ How the Canadian mortgage model could help unfreeze the housing market
▼ + stars: | 2024-03-09 | by ( Theron Mohamed | ) www.businessinsider.com time to read: +6 min

Read previewCopying the way mortgages work in countries such as Canada and the UK could help thaw the frozen US housing market, experts say. Prospective buyers are also balking at paying such high mortgage rates, especially when national home prices are near record levels, fueling an affordability crisis. AdvertisementOffering portable mortgages would enable hesitant sellers to keep their rock-bottom mortgage rates when they move, potentially boosting overall inventory and transaction volumes. She suggested the best fix for the frozen housing market will be if inflation cools, the Fed cuts interest rates, and mortgage rates fall to historical norms. Fannie Mae and Freddie Mac, the government-sponsored enterprises that direct the mortgage market, would have to be on board to make mortgage portability a reality, but that doesn't appear to be the case.

Persons: —, Julia Fonseca, Fonseca, Richard Martin, University of Georgia's Terry, Susan Wachter, Wachter, Fannie Mae, Freddie Mac Organizations: Service, Business, University of Illinois, University of Georgia's, University of Georgia's Terry College of Business, The Wharton School, Federal Reserve, Federal Housing Finance Agency, American Banker Locations: Canada, University of Illinois Urbana, Champaign, conservatorship

Read previewRunning a small business is challenging and securing funding is often a major hurdle. Given the high rates of small business failure linked to funding issues, it is apparent that financial preparation is key. I'm a financial planner, and I've identified seven documents that small business owners should have — especially if you need a small business credit card, grant, or a business loan. To ensure your small business is well-prepared to secure funding, it is essential to have the following financial documents in place. 1. Business credit reportUnderstanding and managing your business credit score is essential to secure funding.

Persons: —, I've, Bradstreet, Dun & Bradstreet, DUNS, Experian Organizations: Service, Business, Dun &, Insurance Locations: Dun, Experian

Amazon Business Prime Card OverviewThe Amazon Business Prime Card is ideal for business owners who frequently make Amazon or Whole Foods purchases and already have a Business Prime membership. Amazon Business Prime Card RewardsWelcome OfferNew Amazon Business Prime Card cardholders receive a $125 Amazon Gift Card upon approval, equivalent to the 5% rewards you'd earn from spending $2,500 in eligible Amazon purchases. Amazon Business Prime Card Benefits and FeaturesThe Amazon Business Prime Card includes a number of tools designed to simplify small business management. Amazon Business Prime Card Annual Fee and Other CostsThe Amazon Business Prime Card card doesn't have an annual fee, but you need a personal or business Amazon Prime membership to be approved. When looking at the Amazon Business Prime Card, we considered several criteria including:Rewards — The Amazon Business Prime Card earns 5% back on eligible Amazon Purchases.

Persons: cardholders, Amex, You'll, Finance Insider's, it's Organizations: Business, Amazon, Prime, Amazon Business, Foods, Business Prime American Express, Amazon Business Prime Card, Amazon Business American, Business Prime Card, Web Services, Amazon Business Prime, American, QuickBooks, Business Prime, Finance, Chase, Amazon Prime

Our experts answer readers' credit card questions and write unbiased product reviews (here's how we assess credit cards). Long-Term Effects on Your Credit ScoreBuilding a Positive Credit HistorySuccessfully obtaining a credit card and using it responsibly can have a positive long-term effect on your credit score. Diversification of Credit MixAdding a credit card to your financial portfolio can diversify your types of credit, which is a factor in credit scoring models. A single credit card application might lower your credit score by 5 to 10 points temporarily. Does getting denied for a credit card hurt your credit score?

Compare the Top Business Travel Credit CardsBest business credit card overall for most small business owners Ink Business Preferred® Credit Card Apply now lock icon An icon in the shape of lock. Best Business Travel Credit Cards of FebruaryInk Business Preferred® Credit Card : Best business credit card overallBest business credit card overall The Business Platinum Card® from American Express : Best business credit card for premium benefitsBest business credit card for premium benefits Capital One Venture X Business Card† : Best business credit card for high spendersBest business credit card for high spenders The Blue Business® Plus Credit Card from American Express : Best business credit card for unlimited flat-rate Amex Membership RewardsBest business credit card for unlimited flat-rate Amex Membership Rewards Ink Business Cash® Credit Card : Best business credit card for unlimited flat-rate cashback or Chase Ultimate Rewards®Best business credit card for unlimited flat-rate cashback or Chase Ultimate Rewards® American Express® Business Gold Card : Best business credit card for 4x Amex Membership Rewards categoriesBest business credit card for 4x Amex Membership Rewards categories Capital One Spark Miles Select for Business† : Best business credit card for unlimited flat-rate Capital One milesBusiness Travel Credit Card ReviewsBest business credit card overall: Ink Business Preferred® Credit CardThe Ink Business Preferred® Credit Card is a fantastic jack-of-all-trades business credit card for many small business owners. Best business credit card for high spenders: Capital One Venture X Business Card†The Capital One Venture X Business Card† is a newcomer on the business credit card scene that heavily rewards big spenders. Best business credit card for unlimited flat-rate cashback or Chase Ultimate Rewards®: Ink Business Cash® Credit CardThe Ink Business Cash® Credit Card is a no-annual-fee business credit card that earns generous cash back on business-related categories while providing useful perks such as purchase and extended warranty protection. Best Business Travel Credit Cards Frequently Asked QuestionsWhat is the best business credit card for travel rewards?

Persons: You've, It's, You'll, We'll, you'll Organizations: Business, Venture, Business †, you've, Ink, Chase Travel, FDIC, Express, American Express, Dell Technologies, Adobe, American, Capital, One, Amex, FedEx, Grubhub, Supply, Walmart, Best, Dell, Air Canada Aeroplan, British Airways Executive Club, Marriott Bonvoy, Chase, Finance, — Locations: AmexTravel.com, U.S, Chevron

The pay data includes salaries ranging from a data scientist position that offers $170,000 per year at Discord to a staff engineer role that earns $250,000 or more at Patreon. AdvertisementHere are the annual salaries for a job at FaZe Clan:Legal Counsel: $142,273 median starting range; from $133,308 to $194,437FaZe Clan did not respond to BI's request for comment. At LTK, a senior software engineer would make $130,000Courtesy of LTKLTK, formerly known as RewardStyle, is an affiliate-marketing and social-commerce platform used by influencers across Instagram, YouTube, and TikTok. At Teachable, a level II senior software engineer would make $190,000Teachable is a platform where creators can build and sell online courses and coaching programs. Here are annual salary ranges for several jobs at Teachable:Data Analyst : $69,826 to $85,000: $69,826 to $85,000 Senior Software Engineer : $160,000 to $180,000: $160,000 to $180,000 Senior Software Engineer - Core : $150,000 to $170,000: $150,000 to $170,000 Senior Software Engineer II : $190,000: $190,000 Software Engineer: $125,000 to $135,000Teachable did not respond to BI's request for comment.

Persons: upstarts, we're, Justin Kenna, they've, ByteDance, Teachable, Konstantin Savusia, James Nord, Brandon Brown, Ryan Brown, Brian Mechem, Warby Parker, Grin, Amanda Perelli, Anthony, Alex Zaccaria, Nick Humphreys, Linktree's, Amber Venz, Baxter, Read, Sydney Bradley, economy's, Patreon, Chris Best, Jason Henry Substack Organizations: YouTube, Business, FaZe, Safety, Software, Security, Enterprise Security, FaZe Clan, Fohr, Inc, Grin Technologies, Facebook, Keli Network Inc, Business Affairs, Jellysmack, Linktree, Ops, RewardStyle Inc, Networks, Mighty Networks, Mighty Software, Engineering, Sydney, Sydney Bradley One, BI, Staff, Social, Data Engineering, Trust, Quality Assurance, Hotmart, & $ Locations: California, New York, Texas, FaZe, Fohr, Jellysmack, Karat, Linktree, LTK, Instagram, Dallas , Texas, Teachable

Applying for a business credit card using an EIN keeps your personal and business finances separate. Advantages of using an EIN for business cardsUsing an EIN for business credit cards offers several advantages for business owners. SVB Innovators Card: The SVB Innovators Card earns 2x points on all business spending, making it a rewarding choice for business owners who want a business credit card using only an EIN. The SVB Innovators Card earns 2x points on all business spending, making it a rewarding choice for business owners who want a business credit card using only an EIN. How to obtain an EIN for business card applicationsIf you want to get a business credit card using your EIN, you might need to start by obtaining the EIN itself.

Persons: —, EIN, Holly Johnson, it's, Julia Menez, BILL, Keogh Organizations: Service, Internal Revenue Service, IRS, Card, EIN Locations: United States, Chevron

☆ Moody's is negative on Asia's sovereign creditworthiness in 2024 as China growth slows
▼ + stars: | 2024-01-22 | by ( Sheila Chiang | ) www.cnbc.com time to read: +1 min

Moody's Investors Service has a negative outlook for sovereign creditworthiness in Asia-Pacific this year, due to China's slower economic growth as well as tight funding and geopolitical risks. China's rebound from the Covid-19 pandemic wasn't as fast as several economists had expected at the start of 2023. In a Jan. 15 report, Moody's predicted China's real GDP growth would slow to 4% this year and next, from an average of 6% between 2014 and 2023. The credit rating agency said the slowdown in China's growth "significantly influences" APAC economies because of its strong integration in global supply chains. Goldman Sachs and Morgan Stanley, among other major international investment banks, predict China's economy to grow at a slower pace of 4.6% in 2024, down from 5.2% expected for 2023.

Persons: Moody's, Goldman Sachs, Morgan Stanley Organizations: Moody's, National Bureau of Statistics Locations: Asia, Pacific

☆ Moody’s warns it may downgrade China
▼ + stars: | 2023-12-05 | by ( Laura He | Diksha Madhok | ) edition.cnn.com time to read: +4 min

The lowering of its outlook does not automatically mean the ratings agency will downgrade China’s creditworthiness, but it increases the chances. Analysts say the property downturn is likely to drag on, hobbling China’s growth prospects for years. Slower growth, weaker demographicsMoody’s expects China’s annual economic growth rate to slow to 4% in both 2024 and 2025, and average 3.8% a year from 2026 to 2030. “The affirmation of the A1 rating reflects China’s financial and institutional resources to manage the transition in an orderly fashion,” the agency said. “Its economy’s vast size and robust, albeit slowing, potential growth rate, support its high shock-absorption capacity.”China’s Finance Ministry said Tuesday it was “disappointed” with Moody’s decision to downgrade the country’s credit outlook.

Persons: Hong Kong / New Delhi CNN — Moody’s, China’s, Moody’s, “, Hong, Seng, Anna Cooban Organizations: Hong Kong / New Delhi CNN, China’s Finance, CSI Locations: China, Hong Kong / New Delhi, China’s, “, Shanghai, Shenzhen

The better your credit score, the better your interest rate on a car loan is likely to be. You should look at the monthly cost of the loan, but also the total cost long-term. Before applying for a car loan, it's crucial to check your credit score and take steps to improve it if necessary. It's important to leave room in your budget for unexpected expenses and to avoid becoming financially strained due to excessive car loan payments. A substantial down payment can work wonders in reducing the total cost of your car loan.

Persons: doesn't, — Organizations: Service, Federal Reserve Bank of New, Quicken Locations: Federal Reserve Bank of New York

Local governments plan to use the proceeds of the latest bond sales to purchase equity or convertible bonds from smaller banks, most of them state-owned, effectively recapitalising them, according to the deal prospectuses. DEEPER IN DEBTThe intensified efforts to support smaller banks also come amid growing worries about the impact of ballooning local government debt on the economy. While policymakers are highly concerned over rising debt levels, Beijing has little option but to support smaller banks to contain spillover risks, analysts said. It was not immediately clear if the central authorities had given any guidance to the local governments on recapitalising smaller banks, and who were the buyers of these special-purpose bonds. "Local governments are a likely the first line of defense whenever regional banks become stressed," they said.

Persons: Kim Kyung, Gavekal, Zhang Xiaoxi, Pan Gongsheng, Ziyi Tang, Ryan Woo, Sumeet Chatterjee, Kim Coghill Organizations: People's Bank of China, REUTERS, Rights, China Electronic Local Government Bond, Authorities, National Financial Regulatory Administration, International Monetary Fund, Beijing, Thomson Locations: Beijing, Rights BEIJING, China, Henan, China's, Liaoning, Yunnan, Inner Mongolia

REUTERS/Rick Wilking/File Photo Acquire Licensing RightsNEW YORK, Nov 21 (Reuters) - Goldman Sachs (GS.N) expects the U.S. Treasuries curve to steepen in the long term, driven by rising fiscal spending, top executives said. "Fiscal spending has not abated. Benchmark 10-year Treasury yields, which move inversely to prices, hit 5% last month for the first time since 2007. Demand for long-dated Treasuries has slipped in the last six months from central banks, U.S. regional banks and sovereign wealth funds, said Jim Esposito, who jointly runs Goldman's global banking and markets division. "Our economists think most central banks will start cutting rates next year, albeit slowly.

Persons: Rick Wilking, Goldman Sachs, Ashok Varadhan, Goldman's, Fitch, Moody's, government's, Treasuries, Jim Esposito, they've, Esposito, Lananh Nguyen, Davide Barbuscia, Richard Chang Organizations: REUTERS, U.S, Treasury, Federal Reserve, Thomson Locations: Westminster , Colorado, U.S, QE, China

REUTERS/Shannon Stapleton/File Photo Acquire Licensing RightsNEW YORK, Nov 17 (Reuters) - Rising U.S. government debt and fiscal deficits that have helped lift government bond yields this year will likely become secondary factors for investors, as their focus shifts to economic fundamentals, Citi analysts said. "Our baseline is that over time investors accept these fiscal risks as a fact of life and that ultimately it is not supply and demand that determine Treasury yields but it's more about the fundamentals of the economy," he said. Moody's, which last week lowered its outlook on U.S. credit, expects the government to continue to run wide fiscal deficits due to increased spending and higher debt interest payments. Some Fed officials have also said rising bond yields, which make access to credit more expensive, could be a substitute for increasing interest rates further. "There is going to be an extraction of higher yields from these investors," cautioned Mathai.

Persons: Shannon Stapleton, Fitch, Moody's, Nathan Sheets, Ray Dalio, Jabaz Mathai, Mathai, Davide Barbuscia, Ira Iosebashvili, Diane Craft Organizations: REUTERS, U.S, Citi, Office, Associates, CNBC, Treasury, Federal Reserve, Thomson Locations: New York City, U.S

☆ Chinese business database Qichacha passes Beijing's security test for resuming overseas operations
▼ + stars: | 2023-11-10 | by ( Evelyn Cheng | ) www.cnbc.com time to read: 1 min

Chinese business database Qichacha said it passed a data export security assessment that allows the company to resume overseas operations. BEIJING — Chinese business database Qichacha said Friday it passed a data export security assessment that allows the company to resume overseas operations. The news signals an easing in China's increasingly stringent government controls over data sharing due to national security concerns. Earlier this year, Reuters reported, citing sources, that Qichacha and similar databases had closed access to offshore users for months. Qichacha said in a press release on Friday that it is the first company to pass the Cyberspace Administration of China‘s data export security assessment for a platform providing inquiries into data around corporate creditworthiness.

Persons: Qichacha Organizations: Reuters, Cyberspace Administration Locations: BEIJING

☆ Moody’s sends a warning to America: Your last AAA credit rating is at risk
▼ + stars: | 2023-11-10 | by ( Jason Moon | Elisabeth Buchwald | ) edition.cnn.com time to read: +4 min

New York CNN —The United States is one step closer to losing its last perfect credit rating after Moody’s Investors Service changed the outlook of the nation’s debt to negative on Friday after markets closed. These effects would likely be even more painful if Moody’s does eventually downgrade the US debt. The nation’s diminished fiscal strength, undone by extreme partisanship in Washington, was a key driver of the action, according to a statement from Moody’s. Standard and Poor’s downgraded the United States for the first time in 2011, following the debt ceiling standoff then. In August, Fitch Ratings knocked America’s credit rating down after the most recent debt ceiling debate.

Persons: America’s, Wally Adeyemo, “, Moody’s, Poor’s, Kevin McCarthy, Mike Johnson, Johnson, Karine Jean, Pierre Organizations: New, New York CNN, Moody’s Investors Service, United, AAA, Fitch, House Press, Republican, Treasury Locations: New York, United States, Washington, Moody’s, ”, American

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