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Japan has lost so many chickens to bird flu, it’s now running out of land to bury them. Japanese state broadcaster NHK reported Tuesday that 16 out of 26 prefectures in the country did not have enough land to dispose of culled birds properly. All 26 had reported experiencing avian flu outbreaks recently. While local authorities and farms usually kill and bury the animals to prevent further spread of the virus, the land shortage has now held back those efforts, according to NHK. Japan has been grappling with a record outbreak of avian flu in recent months, putting strain on…

The International Monetary Fund said in a Wednesday report that global tensions could disrupt overseas investment and eventually lead to a long-term loss of 2% of the world’s gross domestic product.Companies and policymakers across the globe are exploring ways to make their supply chains more resilient by “moving production home or to trusted countries,” the IMF warned in its report, adding that this will lead to fragmenting foreign direct investment.The IMF pointed to recent bills adopted against the backdrop of rising tensions between the U.S. and China, such as Washington’s Chips and Science Act. Japan recently imposed its own restrictions…

Recent banking turmoil in the U.S. and Europe has been a source of panic, but analysts are pointing to a pocket of opportunity: the preferred shares of the big banks. “Of all the asset price movements driven by the banking panic in the past few weeks, one of the few notable pockets of value created in markets appears to be subordinated financial debt,” Citi said in a April 2 note, referring to preferred shares of banks. The large banks are “doing just fine,” Loreen Gilbert, CEO of WealthWise Financial, told CNBC’s ” Street Signs Asia ” on Monday. She said…

Auto loan borrowers at credit unions saved an average of $13,204 in life-of-loan savings, according to the first Credit Union Auto Lending Monthly Report by the Credit Union National Association (CUNA).   The median originated auto loan interest rate for subprime borrowers was 7.86% at credit unions as of September 2022, according to the report. At banks, that figure was 8.67%. The median originated car loan interest rate for deep subprime borrowers was 8.85% at credit unions.In September, a borrower with an average credit score who took out a six-year $40,000 auto loan at a credit union would pay an…

Some consumers spending money for Valentine’s Day anticipate doing so for their other half might rack up credit card debt for them, according to a LendingTree survey. Twenty-seven percent of consumers in a relationship with intentions to make purchases for the romantic holiday said they expect they “may take on credit card debt,” the LendingTree survey released Monday found. Of that figure, 20% said “maybe,” while 7% said “yes.”AMERICANS PLAN TO INCREASE VALENTINE’S DAY SPENDING DESPITE SQUEEZED BUDGETS Nearly three-quarters, on the other hand, do not foresee doing so for Valentine’s Day, according to the survey. LendingTree said the amount…

SoFi Bank N.A. is attempting to halt the Biden administration’s pause on federal student loan payments.  The private bank argues that the moratorium has no legal basis and has cost the bank. In a federal lawsuit filed Friday in Washington, D.C., SoFi asked a federal judge to overturn the latest extension of the pause.  Student loan payments were first halted under President Trump’s administration and the hold has been extended eight times over three years.  Ticker Security Last Change Change % SOFI SOFI TECHNOLOGIES 5.75 +0.01 +0.17% STUDENT LOAN REFINANCE INTEREST RATES EDGE UP FOR BOTH 5- AND 10-YEAR LOANS”We have…

New Orleans, a city dependent on tourism, adopted new regulations on Airbnb-style short-term rentals on Thursday after an emotional debate between residents and council members. When the new rules take effect in July, owners of short-term rentals in the city will be limited to licensing one property per block and the operator must live on the property – whether it’s the owner or a renter allowed to reside there.The decision came after a federal appeals court ruling in August obliterated a regulation designed to stop “whole house” vacation rentals by absentee homeowners, The Associated Press reported. The ruling also reignited…

The U.S. is more of a mortgage-ownership society than a home-ownership society. A 2022 OECD (Organisation for Economic Co-operation and Development) study of 28 countries found the U.S. had the third lowest percentage of households that owned their homes “free and clear” with no mortgages, as “outright owners.” Free-and-Clear Homeownership Rate of Households Lithuania = 83% Slovak Republic = 69% Hungary = 68% Slovenia = 68% Poland = 66% Greece = 63% Latvia = 61% Italy = 60% Estonia = 57% Japan = 48% Spain = 48% Chile = 45% Ireland = 43% Portugal = 43% Luxembourg = 42% Korea…