Key developments: Statistics Canada’s Labour Force Survey shows average hourly wages increased 2.3% year‑over‑year in September, reaching $37.64, up $0.86 from a year earlier. At the same time, consumer prices rose 3% over the 12‑month period to August,…
U.S. Cost‑of‑Living Crisis Deepens as Inflation Surges and Social Security Adjusts
Key developments: A recent Pew Research Center poll shows more than 40% of Americans are struggling to cover basic expenses such as food, medical care, and rent, a situation aggravated by soaring gas and diesel prices tied to…
U.S. Household Spending Stretched by Soaring Energy Costs and Stagnant Wages
Key developments: The latest CPI showed a 3.7% year‑over‑year rise in September, driven primarily by a 34% jump in gasoline prices. Higher fuel costs have also pushed airfares up 1.2% month‑to‑month and 22.4% year‑to‑year. At the same time,…
Household Debt Burden Hits New High, Fed Says Over 8% of Families Spend More Than 40% of Income on Debt
A recent Federal Reserve Survey of Consumer Finances shows the share of households whose debt payments exceed 40% of their income has risen sharply, climbing from 6.5% in 2022 to 8.6% in 2025. CNBC’s October 9 report flagged a…
Mortgage approvals tumble as stricter affordability checks bite
A fresh Bank of England Credit Conditions Survey shows mortgage approvals slipped for a second straight quarter, with the net balance of approved applications turning negative at ‑10.5 in Q3 2026, after ‑8.0 in the previous period. The drop is most…
Text-message data boosts credit‑scoring accuracy by 33%
A new study co‑authored by Affinit and Northwestern University economists and accepted by the Financial Markets Authority (FMA) shows that adding unstructured alternative data—specifically text‑message metadata—to AI‑driven credit models improves predictive power by roughly one‑third over traditional scoring…
Text-message data boosts credit‑scoring accuracy by roughly one‑third
A new study co‑authored by Affinit and Northwestern University economists, now accepted by the Financial Markets Authority, shows that adding unstructured alternative data—most notably text‑message metadata—to AI‑driven credit models improves predictive power by about 33% over conventional credit…
Apple Pay launch and RBI reporting rules reshape India’s credit‑card landscape
Apple Pay has officially launched in India, initially supporting Axis Bank Visa and Mastercard credit cards and marking the first major mobile‑wallet rollout for card‑based contactless payments in the country. The service lets users tap and pay with…
Apple Pay launches in India as credit‑card spending eases and HDFC rolls out festive savings
Apple Pay’s entry into the Indian market marks a major shift in digital payments, giving Axis Bank Visa and Mastercard holders a new, secure way to tap‑and‑pay without PINs or OTPs. The service’s launch expands card‑based contactless options…
Indian regulator greenlights Emirates NBD‑RBL Bank merger as Yes Bank core capital shrinks and IDBI Bank sale nears approval
The Reserve Bank of India gave the go‑ahead for Emirates NBD’s India operations to merge with RBL Bank, expanding RBL’s footprint and creating a larger private‑sector lender poised to capture more retail and SME business. A separate development…