News 

America’s student debt crisis is worse than we thought

“A new Brookings Institution report offers startling results that suggest “the looming student default crisis is worse than we thought.”” writes Pedro Nicolaci Da for businessinsider.com. Debt and default among black college students “is at crisis levels, and even a bachelor’s degree is no guarantee of security,” the report says.The first spot they tend to look is at student loans which, while only a fraction of the housing market, can still have a significant economic impact on consumers and businesses.At nearly $1.4 trillion in loans outstanding, student debt is now…

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Mozilla and Yahoo are suing each over Firefox’s default search engine

“The pair originally signed a deal in 2014 that would have made Yahoo the default search engine for Firefox through 2019” writes Marcus Gilmer for mashable.com. In yet another tech battle of the titans, Mozilla and Oath are suing each other over a contract that set Yahoo as the default search engine for Mozilla’s Firefox browser.As Engadget notes, the deal was signed under former Yahoo CEO Marissa Mayer, who gave Mozilla the very friendly terms. Source: mashable.com Share This:

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Which subprime borrowers are riskiest?

“He defined subprime borrowers as those with FICO scores below 620, including the near-prime category of scores from 580 to 619” writes James B for autonews.com. He said that only 10 percent of auto loans in Montana go to subprime borrowers, vs. more than 20 percent in Florida.Loans to subprime borrowers in the U.S. Southeast and Midwest are riskier than similar ones elsewhere, reflecting relative economic softness in those states, Vogan said.Although default rates are rising nationwide on subprime auto loans, Vogan’s analysis shows the trend won’t get worse.Loans to…

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GBP News 

Owner Centrica scraps controversial standard variable tariff

“Centrica said it was working with the regulator on whether the default tariff should be a fixed or variable price” writes Nils Pratley for theguardian.com. British Gas owner Centrica is to scrap its widely criticised standard variable tariff (SVT) for new customers from April, and other energy companies are expected to follow suit.The measure, which will not take effect until 2019 at the earliest, will apply to anyone on a standard variable tariff.The company will set up a new 12-month default tariff with no exit fees for customers who do…

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Venezuela is going through a messy economic default — here’s all you need to know

“Venezuela is negotiating with its international creditors how to restructure the repayment of $60 billion” writes unknown author for cnbc.com. But despite the ongoing debt talks, analysts do not see strong reassurances that Venezuela will honor its financial commitments, even if its creditors are in a generous mood. “It’s going to be one of the messiest defaults ever,” Bill Blain, head of capital markets and alternative assets at Mint Partners, told CNBC via email. Source: cnbc.com Share This:

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Firefox Features Google as Default Search Provider in the U.S., Canada, Hong Kong and Taiwan

“As part of our focus on user experience and performance in Firefox Quantum, Google will also become our new default search provider in the United States, Canada, Hong Kong and Taiwan” writes Denelle Dixon for mozilla.org. Firefox default search providers in other regions are Yandex in Russia, Turkey, Belarus and Kazakhstan; Baidu in China; and Google in the rest of the world.This is part of our ongoing search strategy, announced in 2014 to evaluate and select the best search experience in each region as opposed to having a single global…

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News Oil 

There’s a big oil story flying under the radar

“But there’s another big oil story flying under the radar that should not be overlooked: Venezuela is creeping closer towards a formal default” writes Elena Holodny for businessinsider.com. Rising tensions between Saudi Arabia and Iran, as well as the kingdom’s weekend crackdown, have drawn the attention of oil watchers.And last week, President Nicolas Maduro announced Venezuela is aiming to restructure future debt payments, raising questions about the state’s and its oil company’s ability to make the remaining payments in 2017 and 2018. Venezuela has been in a deteriorating economic and political crisis, plagued by economic mismanagement, a chronic balance…

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