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News & Articles By Arsenio Toledo
01/20/2023
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By Arsenio Toledo
Global DE-DOLLARIZATION is on the way as world’s central banks buy gold at fastest pace in 55 years
The world’s central banks are buying gold at the fastest pace since 1967, and metals expert Andy Schectman warned that people need to follow suit and invest in precious metals to avoid the worst impacts of this global de-dollarization. Data compiled by the World Gold Council, an industry-funded organization, show that demand for gold has […]
01/20/2023
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By Arsenio Toledo
Logistics company Ryder to fire 801 employees in Austin due to “customer’s changing needs”
American transportation and logistics giant Ryder System Inc, commonly known as Ryder, has announced that it will be laying off 801 employees after the company lost work at a factory in Austin, Texas. A total of 801 Ryder employees at the Applied Material site, a semiconductor plant in Austin, will lose their jobs. Applied Materials […]
01/18/2023
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By Arsenio Toledo
Aluminum price forecasts surge due to higher demand in Europe and China
Goldman Sachs has raised its price forecasts for aluminum in reaction to higher demand for the metal in Europe and China. But the Wall Street finance giant also warned that this increased demand could lead to supply shortages. In the London market, aluminum is expected to average $3,125 a ton this year, according to Goldman […]
01/17/2023
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By Arsenio Toledo
FTC proposes banning employers from forcing workers to sign non-compete agreements
The Federal Trade Commission (FTC) proposed a rule on Thursday, Jan. 12, that would block employers from forcing employees to sign non-compete agreements. Non-compete agreements are clauses in employment contracts that prevent workers from working for a competitor or starting a business in the same industry for a certain period of time after leaving a job. The […]
01/11/2023
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By Arsenio Toledo
Cameron Winklevoss calls for Digital Currency Group CEO Barry Silbert to be removed, citing alleged lies about finances
Cameron Winklevoss, the co-founder of the cryptocurrency exchange Gemini, has penned an open letter calling for the removal of Barry Silbert as the CEO of the Digital Currency Group. The Digital Currency Group, or DCG, is a Stamford, Connecticut-based conglomerate that is the parent company of several high-profile cryptocurrency firms, including digital currency-focused news site CoinDesk […]
01/11/2023
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By Arsenio Toledo
Coinbase announces second mass layoff – 20% of workers to lose jobs
Coinbase is once again slashing its workforce in response to the ongoing downturn in the cryptocurrency industry. The publicly traded cryptocurrency exchange announced that it is planning to reduce its headcount by around 950 employees as part of the company’s restructuring effort that it expects to be completed by the end of the second quarter of […]
01/10/2023
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By Arsenio Toledo
HYPOCRISY: Federal Reserve warns banks against using crypto while planning to develop its own digital currency
The Federal Reserve along with other federal agencies have issued a joint statement warning banks against using cryptocurrencies just as the Fed is deliberating over possibly issuing a central bank digital currency (CBDC) in the United States. The Fed was joined in its statement by the Federal Deposit Insurance Corporation (FDIC) and the Office of […]
01/10/2023
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By Arsenio Toledo
MORE METAL: China’s public gold holdings now over 2000 tons after another huge purchase in December
The central bank of China has acquired another 30 tons of gold in December, bringing the communist nation’s total public gold holdings to 2,010 tons. Data uploaded onto the central bank’s website on Saturday, Jan. 7, showed that the People’s Bank of China (PBoC) has raised its holdings for the said month. This follows the announced […]
01/07/2023
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By Arsenio Toledo
Samsung Q4 2022 profits DROP 69% due to slowing global economy and plummeting demand for semiconductors
Global electronics manufacturing giant Samsung’s operating profits dropped by 69 percent in the fourth quarter of 2022. The downturn reduced Samsung’s operating profit to $3.4 billion in the quarter that ended in Dec. 2022. The company has cited the diminished demand for electronics products and semiconductors resulting from the slowing global economy as the main […]
01/06/2023
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By Arsenio Toledo
Only 20% of rail services are running normally in the UK as rail strikes cause widespread disruptions
Rail workers in the United Kingdom started the new year with a weeklong strike that began on Tuesday, Jan. 3, with union bosses warning of more industrial actions to come if negotiations don’t bear any fruits. These rail strikes have been ongoing for months across the U.K. as soaring inflation and stagnant wage growth have […]
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