
Romania Holds Interest Rate With Tax Hikes Set to Fuel Inflation
The National Bank of Romania held the benchmark rate at 6.5% on Friday, maintaining one of the highest borrowing costs in Europe for an eighth meeting and matching the estimates of all economists in a Bloomberg survey.
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New York Post
16 minutes ago
- New York Post
Financial expert warns young Americans against ‘buy now, pay later' plans as shopping tactic growing in popularity
'Buy now, pay later' plans are rapidly growing in popularity among young Americans, but not everyone is convinced they're a smart financial choice. Haley Sacks, a personal finance influencer with over a million followers online, issued a chilling warning about BNPL plans on 'Fox & Friends' Tuesday, calling the practice 'predatory.' Advertisement 'My take is that you should not use 'buy now, pay later' at all,' Sacks said. 'If you need to finance something, use a credit card and a lot of credit card companies have 'pay over time' options with 0% interest.' Sacks argued credit cards offer important benefits BNPL plans don't, such as consumer protection and the opportunity to build credit. 'Buy now, pay later' services let buyers split purchases into multiple installments instead of paying the full price upfront. However, if users aren't careful to make payments on time, they may face late fees. Advertisement 3 'Buy now, pay later' plans are rapidly growing in popularity among young Americans, where buyers pay with multiple installments instead of the full price upfront. Bloomberg via Getty Images 3 Haley Sacks, a personal finance influencer with over a million followers online, warns against the practice, calling it 'predatory,' and saying that it doesn't offer benefits like consumer protection that credit cards do. fizkes – They're expected to hit record transaction volumes this year after initially being marketed as lower-risk alternatives to credit cards. But financial experts warn that reliance on these payment plans can lead to overspending and a rapid accumulation of debt if consumers aren't on top of them. A LendingTree survey from April found that more Americans are using BNPL services for everyday essentials like groceries, and that 40% of users admitted to missing a payment on at least one loan in the past year. Advertisement 3 Experts say the plans can lead to overspending and debt if consumers aren't on time with payments. Bloomberg via Getty Images Factors that could be leading to the shift are elevated prices, high interest rates, and student loan payments, which resumed less than two years ago after a stop during the COVID-19 pandemic. Sacks says these factors are part of why these types of deferred payment plans have resonated with a struggling generation of young people. Advertisement 'Gen Z is facing so much inflation, wages have not kept up, and this is a way to actually be able to get things that you want,' she said. 'But of course, then you're paying the price.' According to the LendingTree survey of 2,000 consumers aged 18 to 79, nearly half of American adults have used a BNPL service such as Klarna or Affirm. Millennials made up the largest share, but Gen Z and Gen X weren't far behind.
Yahoo
39 minutes ago
- Yahoo
Bournemouth to Sign €40M-Rated Lille Ace as Incoming PSG Star's Replacement
PSG and Bournemouth had been locked in a stalemate over Illia Zabarnyi, with neither side willing to budge. That's changed, as the French club is now on the verge of signing the Ukrainian defender. According to TalkSPORT, PSG have reached an agreement with Bournemouth to sign Zabarnyi for €63 million. After weeks of negotiations, both clubs appear satisfied with the fee to finalize the deal. Bournemouth have already lined up a replacement. On Friday, RMC Sport's Fabrice Hawkins reported that Bafodé Diakité has agreed to a five-year contract with the Premier League club. The sticking point had been Lille's €40 million asking price, but it appears an agreement has been reached there as well. Bouremouth find replacement for incoming PSG standoutOn Saturday, Foot Mercato's Santi Aouna reported that the clubs had reached an agreement on a €40 million transfer fee — the figure the Ligue 1 side had been seeking to part ways with the player. Bournemouth, PSG, and Zabarnyi are all likely content with what has transpired. The Ukraine standout gets his move to Paris, PSG get a young and talented center-back while the Premier League club get a significant fee and a replacement. Transfer expert Fabrizio Romano previously reported that Zabarnyi was keen to join PSG and even reached a verbal agreement with them back in June. Despite some rumors, Romano made it clear there haven't been any serious talks with Tottenham Hotspur as Premier League clubs are set to miss out. Well, Zabarnyi is about to be joining the European champions.


Bloomberg
2 hours ago
- Bloomberg
A Bitter Pill for Lab Firms as France Seeks to Cut Subsidies
Newsletter A report by a French agency is ringing alarm bells for investors and creditors who poured billions of euros into the medical labs sector. Welcome to The Brink. I'm Giulia Morpurgo, a reporter in London, where I have been looking into the headwinds that French private medical labs face. We also have the latest on bankrupt retailer Claire's, Altice Portugal's reorganization and Puerto Rico's bankruptcy. Follow this link to subscribe. Send us feedback and tips at debtnews@ It's an industry that's grown fat on public subsidies — and now the government is looking to pull them away. A report by a French agency is ringing alarm bells for investors and creditors who poured billions of euros into the medical labs sector.