China has has its credit rating downgraded after a major ratings agency warned it faces possible uncertainty as it attempts to move away from a reliance on property. US-based Fitch says the sovereign credit rating of China has been moved from “stable”
In a significant blow to China’s economic prospects, Fitch Ratings has downgraded the country’s outlook to negative, citing concerns over soaring debt levels – which have hit a mind-boggling £442bn. The move comes amid China’s ongoing struggle to revive its economy, which
Simon’s parents can no longer look after themselves and rely on their son’s help 24-7 (Image: Simon Wainwright) Juggling childcare, eldercare and major health problems of his own, unpaid carer Simon Wainwright has been forced to take out a Buy Now Pay
Cruel scammers have targeted the debt-ridden single mum of a disabled young girl – by posing as millionaire lottery winners offering a helping hand. Dympna McKenna, 47, believed she was chatting to Richard and Debbie Nuttall – who scooped £61million on the
Cathy Magee, 61, and her husband Ivan, 65, had a tough time when they lost their home (Image: MEN) Cathy Magee, 61, and her husband Ivan, 65, had a tough time when they lost their home and got into £70,000 of debt.
The Bank of England took a “leap in the dark” when it started selling off Government debt in 2022. An influential group of MPs heard how the Bank is said to have started selling the debt without paying attention to whether the
Whichever party wins the next election will have a “pretty empty war chest” to help deliver its manifesto pledges, an expert has said after the latest government borrowing figures were released. The stark warning comes as figures published on Tuesday (January 23)
A number of European nations continue to grapple with significant government debt, with the highest debt-to-GDP ratios concentrated in specific member states. At the close of the third quarter of 2023, Greece topped the list with a staggering 165.5 percent debt to
A restaurant has been forced to close after its owners were left drowning in more than $100,000 (£78,492) worth of debt thanks to a loyalty deal gone wrong. Jiamener, an all-you-can-eat Chinese restaurant in Chengdu, China, quickly became a popular buffet eatery
Somalia on Wednesday secured a $4.5 billion debt relief deal with international creditors. The deal is part of the Heavily Indebted Poor Countries initiative, a debt forgiveness program overseen by the International Monetary Fund and World Bank. Somalia’s current national debt exceeds