Matt Schulz, chief credit analyst for LendingTree, has recently stated that the average annual percentage rates (APR) for new credit cards reached record levels. The borrowing rate rose to 20 % as of June, more than 6% increase from the pre-pandemic levels. Schulz also stated that he believes that this is nowhere near the top.

The current inflation numbers in Spain showed that the inflation in the country jumped from 8.7 % to about 10.2 %. With double digit inflation in one of the biggest countries in the Europe, the European Central Bank will need to speed up its monetary tightening efforts and become more hawkish, if it wants to stop this metric from growing.

During the current G7 meeting, the leaders of the most advanced economies agreed on establishing "Climate Club," an effort that will follow joint rules and standards in the fight against global warming, without the spats over green tariffs. Its main goal should be establishing transparent climate mitigation policies to reduce emissions intensities.

Ukraine will receive more support in its war against the Russian invasion. British Prime Minister Boris Johnson and French President Emmanuel Macron said that this is the critical moment for the course of conflict. They believe that with their support there is an opportunity to turn the tide in the war, thus they agreed to step up their work.

The central bank of Norway has increased the benchmark deposit rate by 0.5% to 1.25%, the biggest rate hike since 2002. Until now, the Norges Bank was rather careful with the hiking. The Norges Bank was one of the first central banks to start hiking last year, however, the more aggressive approach came just now.

The fresh inflation numbers from United Kingdom are far from positive. Inflation in the country has risen yet again and in May has hit 9.1%, 40-year high. Rishi Sunak, the finance minister of Britain, has stated that the Bank of England has all the tools it needs to bring down the inflation and that the BoE will act forcefully to combat it.

Duke Energy, the second largest power company in the United States, is reportedly studying Bitcoin mining. The results of this research should help the company with onboarding of the miners on the grid. Before that, the company is going to test its findings on micro-grid with different energy sources.

According to Germany's road traffic agency, almost 60 000 Teslas model Y and 3 may have a glitch. The software flaw can cause a breakdown of the eCall, which are designed to contact emergency responders in the event of a serious accident. KBA, the German watchdog that specified found this glitch, stated that 59 129 vehicles can have this problem.

Matt Schulz, chief credit analyst for LendingTree, has recently stated that the average annual percentage rates (APR) for new credit cards reached record levels. The borrowing rate rose to 20 % as of June, more than 6% increase from the pre-pandemic levels. Schulz also stated that he believes that this is nowhere near the top.

Three Arrows Capital, one of the biggest crypto hedge funds, has been in rather unpleasant conditions for few weeks now. The situation forced 3AC to file for bankruptcy in the United States. The step should protect the company from losing assets to liquidators as it protects US assets. The future of the company remains uncertain.

Bitcoin is not the only asset that is having bad time now. The same applies for one of the biggest US indices, S&P 500, which has just ended the first half of the year down 20.6 %. This is the worst start to a year since 1962.

Copper has just sunk below 8 000 dollars a ton, the lowest price in more than 18 months. It is likely that Copper, just like other industrial metals will fall in the price in the coming days and weeks mostly due to the fears of the incoming global financial recession.