Default rate on corporate debt falls
The default rate on U.S. corporate debt has plunged, and credit-rating agencies now expect it to fall below
3 percent by year’s end, after peaking at 14.6 percent in November 2009. The rate measures the percentage
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of companies with poor credit ratings that failed to meet debt obligations in the past year.
The Wall Street Journal
Business travel is up
The business trip is making a comeback. First-class and business travel rose 13.8 percent in July, compared with July 2009, says the International Air Transport Association, and travel agents report that business bookings of hotel rooms and airline seats rose in August.
Chicago Tribune
Gold reaches a record high
The price of gold reached a record high of $1,280.20 an ounce this week, continuing a rise that began with the onset of the financial crisis two years ago. But gold’s real high point came in 1980, when it traded at $825.50—$2,184.08 in today’s dollars.
CNNmoney.com
Hunting industry reaps billions
The U.S. hunting industry generated $28 billion in economic activity last year, up from $19 billion in 2008. In New York, hunting-license sales have risen more than 10 percent from 2007 to 2009, even though the cost of a license increased 52 percent.
USA Today
Average credit card debt drops
The average debt on bank-issued credit cards in this year’s second quarter dropped to $4,951 from $5,719 in the year-earlier period. It’s the first time average card debt has fallen below $5,000 since early 2002.
The Washington Post
