Thousands of immigrants who were chasing the dream of owning a New York taxi were trapped in reckless loans by bankers who made huge profits, The Times found. Source: NYT > Business – BRIAN M. ROSENTHAL
Your Money Adviser: Interest Rates on New Federal Student Loans Will Dip Slightly
The rates, which will take effect on July 1, won’t make a big difference in monthly payments. But given the cost of college, one expert says, “this is a bit of good news.” Source: NYT > Business – ANN CARRNS
As Trade War Rages, China’s Sway Over the U.S. Fades
Beijing once could count on allies in business and politics to help get its way. Now many of its old allies are staying on the sidelines. Source: NYT > Business – KEITH BRADSHER
Your Money Adviser: Beware of Credit ‘Repair’ Companies, Consumer Watchdogs Say
Anything these companies can do, people can do for themselves at no cost. Federal regulators recently filed suit against two of the biggest companies. Source: NYT > Business – ANN CARRNS
Federal Reserve Warns as Risky Corporate Debt Exceeds Peak Crisis Level
Defaults on the loans — known as leveraged lending — remain low, but the Fed warned that could change if the economy faltered. Source: NYT > Business – JEANNA SMIALEK
Sweetgreen Scraps Its Cashless Policy as Criticism Grows
The announcement comes amid a rising backlash to cashless stores, and new laws against them in New Jersey and Philadelphia. Source: NYT > Business – KAREN ZRAICK