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Credit Card Delinquencies , Are on the Rise.<br/>New York Federal Reserve data that was published on May 15 shows that credit card delinquencies kept rising from January to March, Fox Business reports. .<br/>In Q1 2024, delinquencies reached <br/>8.9% at an annualized rate.<br/>America hasn't seen this high of a <br/>percentage of serious credit card <br/>delinquencies since 2012, Fox News reports. .<br/>In the first quarter of 2024, credit <br/>card and auto loan transition rates <br/>into serious delinquency continued <br/>to rise across all age groups, Joelle Scally, regional economic principal within the Household and <br/>Public Policy Research Division at the New York Fed, via Fox Business.<br/>An increasing number of borrowers <br/>missed credit card payments, <br/>revealing worsening financial <br/>distress among some households, Joelle Scally, regional economic principal within the Household and <br/>Public Policy Research Division at the New York Fed, via Fox Business.<br/>Researchers aren't sure why delinquencies <br/>are so high since the unemployment rate <br/>is low, but they have a few theories.<br/>One of those theories is that consumers drained savings throughout the pandemic <br/>but continue to spend at high levels.<br/>Another theory is that some Americans switched to jobs with lower salaries.<br/>Additionally, credit card eligibility may have been expanded for many whose student debt wasn't being reported to credit bureaus amid the pandemic.<br/>These are all kinds of complex issues. <br/>We don't exactly know what's behind the <br/>increase of these delinquency rates. But it's <br/>definitely something that we're tracking, New York Fed researchers, via Fox Business.<br/>The average annual percentage rate for <br/>credit cards hit a record of 20.72% recently.
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Very few associations can exhilarate and delight like the union between a naturally-aspirated V12 Ferrari engine and open-top motoring: the Ferrari 12Cilindri Spider, unveiled today at an exclusive event hosted at Miami Beach, fuses these two very special sensations in a two-seater berlinetta spider powered by Ferrari’s iconic twelve-cylinder engine. This iteration of the V12 delivers 830 cv and keeps revving right up to 9500 rpm, offering the driver and passenger an even more exclusive open-air driving experience. <br/><br/>The concept giving shape to the Ferrari 12Cilindri Spider draws inspiration from open-topped Ferrari Gran Turismo models of the 1950s and ‘60s, which combined the unmatched performance of a road-going racing car with the unique opportunity to revel in the sound of the 12-cylinder engine with the roof down, and extraordinary long-distance driving comfort. The design of the car makes a break from the recent canons of the Ferrari two-seater berlinetta spider genre, eschewing muscularity and sensuality in favour of a more futuristic language founded on formal purity with only the barest hint of a typically automotive visual lexicon. <br/><br/>The Ferrari 12Cilindri Spider is intended for both connoisseurs of the marque with a clear vision of what Ferrari has stood for in the motoring world since 1947, and newer Ferraristi who dream of a car that lets them combine unmatched driving thrills with comfort and Italian design – and the possibility of enjoying the wind in their hair. This truly is a car for the few. <br/><br/>The F140HD engine equipping the Ferrari 12Cilindri Spider is the new version of the iconic naturally-aspirated Ferrari V12, the purest expression of Ferrari’s soul: its peerless performance, powerful soundtrack and exclusivity make it the worthy heir to the legendary berlinetta sports cars that wrote some of the most glittering chapters in the marque’s history. The engine can unleash up to 830 cv while its max revs have been increased to 9500 rpm thanks to the adoption of innovative solutions. <br/><br/>The engine features modified components and software, some of which were already adopted on the open-top special series 812 Competizione A, ensuring it tops its category in terms of performance. To allow the V12 to rev so high, the engineers worked to reduce the weight and inertia of the engine’s components, adopting titanium con rods, which guarantee a saving of 40% in rotating mass compared to steel with the same mechanical resistance. A different aluminium alloy was used for the pistons, making them lighter than on previous applications. Further weight reduction was gained by the adoption of a rebalanced crankshaft which is 3% lighter.
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