·Percentage of overdue debt has risen for last two quarters
·Consumer companies say their customers are under stress
After bingeing on credit for a half decade, U.S. consumers may finally be feeling the hangover.
Americans faced with lackluster income growth have been financing more of their spending with debt instead. There are early signs that loan burdens are growing unsustainably large for borrowers with lower incomes. Household borrowings have surged to a record $12.73 trillion, and the percentage of debt that is overdue has risen for two consecutive quarters. And with economic optimism having lifted borrowing rates since the election and the Federal Reserve expected to hike further, it’s getting more expensive for borrowers to refinance.
June 6, 2017, 1:00 PM GMT+3
·New HomePod speaker brings digital assistant into homes
·Advances in machine learning seen in many product updates
Apple Inc.’s first major new product for two years, the HomePod speaker, marks
the biggest effort yet from the technology company to use its Siri digital assistant to
keep customers wedded to a growing palette of products and services.
The smart speaker works by talking to an updated Siri that better
understands music-related requests, Apple said during its Worldwide
Developers Conference in San Jose, California.
“Apple is a company that deeply cares about music and wants to deliver an
audio experience in the home,” Apple Chief Executive Officer Tim Cook said
in an interview with Bloomberg’s Emily Chang. “We feel like we reinvented
that in the portable player area, and we think we can reinvent it in the home
Alex Webb and Mark Gurman
June 6, 2017, 12:45 AM GMT+3 June 6, 2017, 1:35 AM GMT+3