Consumer debt jumps as May borrowing hits record high
The Federal Reserve reports May consumer credit rose 6.4 percent yearly, led by a 9.8 percent surge in credit card debt the largest since November. Auto loans rose 4.4 percent. Consumers borrowed $12.9 billion more to reach $2.44 trillion, amid weak housing but strong retail sales and job growth expectations.
MENTIONED IN THIS ARTICLE
Washington
The
Federal Reserve
David Wyss
Standard & Poor's
New York
Wyss
Animal welfare at tipping point in U S food industry
A Los Angeles report traces rising animal welfare concerns among consumers and major firms. Tyson Foods Burger King Spago Whole Foods pilot ratings Smithfield transitions MBA Poultry and other players respond to humane treatment expectations. Industry leaders say progress is underway amid debate.
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Los Angeles
Bud Stuart
Santa Barbara
Stuart
U.S
Tyson Foods Inc
Springdale
Ark
Richard Bond
Burger King Holdings Inc
Wolfgang Puck
Spago
Whole Foods Market Inc
Humane Society of the
United States
Technomic Inc
Robert Ruge
Culver City
Burger King
Peter Singer
Princeton University
America
Singer
Smithfield Foods Inc
MBA Poultry
Tecumseh
Neb
MBA
Smithfield
Dennis Treacy
Whole Foods
Kay Johnson
The
Animal Agriculture Alliance
Arlington, Va
Paul Shapiro
LOS Angeles Times
Beverly Hills
Calif
Big Three seek to cut health care costs
The Big Three automakers GM Ford and Chrysler plan to reduce legacy retiree health costs ahead of contract talks with the UAW slated to start July 20 and 23. GM cites 4.8 billion spent on health care last year and notes foreign rivals with nonunion plants have far fewer retirees. Union leaders face pressure as workers weigh concessions amid overall industry pressure.
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General Motors Corp
Ford Motor Co
Chrysler Group
U.S
Bruce Belzowski
University of Michigan Transportation Research Institute
United Auto Workers
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UAW
Dan Flores
Ron Gettelfinger
Delphi Corp
Ford
Chrysler
Gary Walkowicz
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Dow Jones Industrials
Petcha