Overseas Headlines- February 28, 2020

February 28, 2020

United States:

Democrats Urged to Heed Payday Debt Problem in South Carolina

“In the 20 minutes it takes Reverend Brenda Lynn Kneece to drive from her home in Columbia, South Carolina to her church about 15 miles north, she passes by at least two dozen billboards and businesses offering payday loans. Lynn Kneece says she’s often approached at the church by people who’ve borrowed from these places, fallen deeply into debt, and are pleading for financial help. She works with the Appleseed Legal Justice Center, a local group that’s trying to raise awareness of the problem — especially among Democratic presidential candidates, who’ll face off on Saturday in the state’s primary contest.”



Virus Threat Overshadows Boris Johnson’s Post-Vote U.K. Economy Bounce

“The economic bounce from Boris Johnson’s Brexit breakthrough could be cut short as the coronavirus casts a pall on the nascent recovery.

While there have been signs of a rebound in investment, retail sales and even house prices, Britain is an open economy that’s particularly susceptible to global events. The virus is already having an impact on the U.K., according to Bank of England Governor Mark Carney.”



China Amassing Commodity Mountain That Risks Crushing Prices

“China’s accumulating a vast stack of commodities that’s threatening markets already hammered by the coronavirus. As the government compels the country to get back to work, oil refineries are churning out diesel and gasoline while smelters and other industrial plants continue to process raw materials into finished products like steel and copper.”


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