In 2011, student debt in the United States topped $1 trillion—more than any other kind of consumer debt in the country. After bankruptcy protection was removed from private student loans in 2005, default — and the ruined credit score it results in — has been the only option left for struggling student loan debtors.
More than 180 airline passengers onboard a chartered flight service from India to the UK were left in shock after flight crew from Austrian airline Comtel Air refused to take off, following a refuelling stop in Vienna, without an additional $31,000 to fund the rest of the flight.
After taking off from the Indian city of Amritsar, the plane landed in Vienna, where the passengers claimed that they were “held to ransom” by the airline, who demanded that every passenger cough up about $200 each, if they wanted to complete their flight to Birmingham, UK.
According to the latest US Census Bureau report released on Thursday, 21.6 percent of American children lived below the US federal poverty threshold in 2010, with more 27 states reporting increased poverty rates or absolute figures as compared to 2009.
The number of people living in poverty has reached an all-time high in the US, as high unemployment rates continue to dog the economy, with the national poverty rate standing at 15.3 percent and unemployment at 9 percent some two years after the recession that began in 2007 officially ended.
For the fifth month in a row, consumer confidence in the United Kingdom declined, dragging the index to an all-time low for the month of November. Worries about the eurozone crisis and the slowing domestic economy have affected consumers’ pessimism, according to the key survey by Nationwide.
The monthly survey showed a sharp deterioration in consumers’ expectations for the job market and economy, with only 13 percent of respondents expecting the economic situation to be good in six month’s time.
In a recent survey by Wells Fargo, results have shown that 25 percent of middle-class Americans now expect to work till they are at least 80 years old, in order to afford basic retirement costs.
In addition, another 74 percent of middle-class Americans say they expect to work in their retirement years, including 39 percent of all respondents who said they will need to work to make ends meet.
The battle between Coca Cola and Pepsi has been one that has been fought since the late 1800s when Pepsi, then known as “Brad’s Drink” was introduced as an alternative to Coca Cola, which had been on the market since 1886.
Europe’s two central powers, France and Germany, have clashed once again over the European Central Bank’s (ECB) role in dealing the eurozone crisis, leading to fears that an ideological divide between the two nations may lead to further delays in the eurozone’s rescue process.
Lloyd Blankfein, the chief executive officer of Goldman Sachs, said that global economic markets are rebounding faster than expected, and recovery may have surprisingly already started.
His comments, made at an investor conference, contradict recent statements from the Federal Reserve Bank of San Francisco and German Chancellor Angela Merkel.
Late Apple founder and chairman, Steve Jobs, had envisioned a dedicated Apple wireless network for the company’s hugely successful iPhones, similar to the unlicensed spectrum used by Wi-Fi, rather than work with traditional mobile operators.
The beverage industry is a multi-billion dollar business that has been increasingly heading towards a new trend of “healthier options” that would be beneficial for consumers. However, with more and more consumers attempting to make healthier lifestyle choices, marketers have also begun branding their beverages differently to cater towards this crowd.
