China’s economy slowdown deepens in August with retail sales, industrial output missing expectations

Shanghai Bund skyline panorama Yangna | E+ | Getty Images China’s economic slowdown deepened in August with a raft of key indicators missing expectations, as weak domestic demand persisted and Beijing’s campaign against industrial overcapacity curbed output. Retail sales last month rose 3.4% from a year earlier, data from the National Bureau of Statistics showed…

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Here’s why banks, credit card companies are wary of buy now, pay later loans

Buy now, pay later plans offer an attractive alternative to credit cards for consumers: They allow purchases to be split into short-term, typically interest-free installments. “Credit isn’t new. Credit’s been around for thousands of years and credit cards aren’t new. But they’ve had a hard time adapting to consumer needs,” said Michael Linford, chief operating…

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