Despite a lack of affordable housing, many American cities have seen a paradoxical proliferation of new luxury condos. The reason behind this comes down to scarcity. Because cities limit the amount of housing that can be built, developers focus on attracting the wealthiest occupants instead of catering to everyone. Consider…

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The Education Department is “preparing to restart” federal student loan debt repayments after a three-year pause now that the COVID-19 pandemic emergency has ended, Secretary Miguel Cardona told lawmakers this week. Cardona revealed the administration’s intentions at a Senate Appropriations Committee hearing on Thursday, when Sen. Katie Britt, R-Ala., asked…

Apple on Tuesday announced a soft launch of its long-awaited buy now, pay later (BNPL) service option for Apple Wallet. The company is inviting a few, select users to access a prerelease version of Apple Pay Later, with plans to offer it to all eligible users in the coming months. Apple Pay…

Many Americans are beating inflationary pressures by building a secondary income, a recent survey said. Inflation and rising costs pushed 62% of Americans across all income levels to live paycheck to paycheck in February, according to a survey from LendingClub and PYMNTS.Roughly one-quarter of consumers reported having a side job to cope with…

Silicon Valley Bank UK will continue to serve startup businesses from “seed funding to IPO,” the chief executive of its new owner, HSBC UK, said Tuesday.”We’re going to protect what we’ve got,” Ian Stuart told CNBC’s Arjun Kharpal at the Money20/20 fintech conference in Amsterdam.”We are going to keep it…

When Eunice Wang got a job as a strategy consultant at a pharmaceutical company in Beijing, it was a dream come true. The dream was six years in the making: She graduated from college majoring in biological engineering, and later completed a master’s in business analytics in the United States.But it…

Subway is planning to add thousands of new sandwich shops in China, increasing its footprint in the country by more than seven times. The world’s biggest sandwich chain announced Tuesday that it would open almost 4,000 new stores across mainland China over the next 20 years. The deal “is the…

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The Russian Prosecutor-General is set to let investigators confiscate crypto and liquidate criminals’ tokens, with the Treasury hoping to benefit.But legal experts say the plan could hit a roadblock when prosecutors try to liquidate coins.The media outlet Vedemosti first reported on the Prosecutor-General’s proposals back in April.Madina Dolgieva, the judiciary…