Friday’s business headlines
INDIANAPOLIS (WISH) – Here’s a look at Friday’s business headlines.
Credit card debt
Household debt fell in the second quarter as consumers stuck at home because of the coronavirus pandemic spent less on their credit cards, based on a new report from the Federal Reserve Bank of New York.
Credit card balances plummeted by $76 billion, the steepest drop on record.
Indiana ranked 41st for credit card debt with around $2,200 in an average balance.
Thirty-two percent of Americans had outstanding housing payments at the beginning of August.
Apartment List, an online rental platform, says of the one-third of households who had unpaid bills for previous months at the beginning of August, 20% owed at least $1,000.
The NFL could stand to lose a whopping $7 billion should fans be barred from attending games this year.
Ticket IQ says the Raiders stand to lose about $571 million from lack of fans in attendance at the brand new Allegiant stadium. It will be the first NFL team playing in Las Vegas on a regular basis and the new stadium had planned to bring in a boatload of fans.
The NFL has not released a league-wide mandate about having fans in the stands.
Facebook said it will allow its employees to continue to work from home until July 2021.
The company will also provide its employees with an additional $1,000 bonus for their home office needs.
Although employees will be allowed to work from home, the company said it will continue to reopen offices in restricted capacities in regions where government guidance permits.