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Alternative banks $(Link)
“If you look ahead five years, there’s no way there will be a financial services industry that is charging consumers $30 billion a year in overdraft fees,” said Chris Britt, the chief executive of Chime. 'We aim to shake that up, and I think a lot of other consumer companies will be doing the same thing.' Banking regulators recently signaled that they will give the first banking charter to a neo-bank — Varo, a San Francisco start-up that is offering fee-free checking accounts without any minimum balances."
China underestimating its US$3 trillion dollar debt (Link)
"Traders, investors and their clients have in the past taken advantage of a lucrative spread between US and Chinese interest rates to borrow cheap dollar debt and convert it into higher yielding yuan-denominated assets. But in an effort to support lending and economic growth, the People's Bank of China has raised its rates only slightly in response to interest increases implemented by the US Fed. This has caused the differential between US and Chinese rates to narrow rapidly, to the point where it no longer offsets the cost of paying back the external dollar debt in ever-more-expensive US dollars."
SUVs: game changer for Porsche
