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BORR News9 articles
Transocean Stock Slips 3.2% as Debt Burden Looms Over Contract Backlog
Transocean (RIG) dropped 3.2% as investors weighed $4.3 billion in debt against a $6.7 billion contract backlog, despite higher oil prices.
Transocean Gains 1.9% as Oil Climbs, Spotlighting $6.7B Backlog
Transocean (RIG) rose 1.9% as oil prices climbed, drawing attention to its $6.7B backlog. Q2 free cash flow was $212M, with net debt at $4.31B.
UK August Borrowing Blows Past Forecast by £3.5B
Britain borrowed £18.3bn in August, £3.5bn more than the OBR expected, lifting the fiscal year-to-date deficit £8.1bn above plan and raising the stakes for the October 28 Budget.
M&T Bank Boosts Borrowing to Fuel Loan Growth Amid Record Earnings
M&T Bank posted record quarterly earnings but turned to borrowings to fund loan growth as deposits fell. Shares slipped 2.2%.
Retirement Savings Target Drops to $1.2M as Plan Borrowing Surges 59%
Americans now target $1.2 million for retirement, down from $1.28 million, as 401(k) borrowing surges 59% and contribution rates fall, per Schroders.
Block's Cash App Borrow Hits $27B, Reshaping Profit Mix
Block's Cash App Borrow originations surpassed $27 billion, with financial solutions driving 72% of gross profit growth. The lending business now accounts for 44% of consumer loan originations.
Student Loan Overhaul: SAVE Plan Borrowers Face July 1 Deadline
The SAVE student loan plan ends July 1, forcing 6.5 million borrowers to select a new repayment option within 90 days or be moved automatically. The transition faces technical glitches and confusion.
Borrowing $1.5 Trillion for Stocks Unlikely to Fix Social Security, Study Warns
A Boston College study warns that borrowing $1.5 trillion to invest in stocks is unlikely to fix Social Security's shortfall, with the fund failing to repay debt in most scenarios.
Credit Divide Deepens: Super-Prime Borrowers Surge While Lower Tiers Face Rising Debt Burdens
TransUnion data reveals a widening credit gap: super-prime borrowers increased by 15 million since 2019, while near-prime and subprime consumers face rising debt-to-income ratios and higher delinquency rates.