The number of new corporate defaults globally reached 16 in August, the highest August monthly number since 2009, S&P said in a report released on Wednesday, the latest sign that corporate stress is building. This brought the global corporate default tally to 107, with most of the defaults coming from Europe and the United States. The rating agency expects default rates to keep rising as aggressive rate hikes take their toll on companies faced with an increased cost of funding and looming debt maturities.
The Canadian PressTAIPEI, Taiwan — When she first moved to the Chinese tech hub of Shenzhen after graduating from college, Marguerite Wang imagined she would spend her career working hard in a big city. Instead, she's living with her parents in her hometown in northeastern China.
The Canadian Bankers Association's CEO Anthony Ostler said the government was "singling out the banks". The financial industry has been on the hook for taxes as the federal government looks to boost spending to help lower-income Canadians cope with inflation and step up clean technology investments to close the competitive gap with the United States.
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