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News & Articles By Arsenio Toledo
01/16/2024
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By Arsenio Toledo
Electric car sales growth slows by nearly 50% in 2023
Global sales of fully electric and plug-in hybrid vehicles slowed down by nearly 50 percent in 2023 compared to sales figures from 2022. In the United States, sales could have dropped lower if not for taxpayer-funded government incentives artificially boosting sales. This is according to the EV and battery market analysis firm Rho Motion, which […]
12/20/2023
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By Arsenio Toledo
Over $100M worth of gold sold by Costco as the precious metal surges in value
The Chief Financial Officer (CFO) of wholesale retailer Costco announced that the company has sold more than $100 million worth of gold during the quarter that ended on Sept. 30, as consumers flock to gold as a haven investment. “You’ve probably read about the fact that we’re selling one-ounce gold bars. We sold over $100 […]
12/12/2023
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By Arsenio Toledo
Ammo prices to skyrocket due to global gunpowder shortage caused by Russia-Ukraine and Israel-Palestine conflicts
One of the United States’ largest ammunition manufacturers is warning that the average price of ammo is about to skyrocket as ongoing conflicts are leading to increased buying and an anticipated global shortage of gunpowder. Vista Outdoor, a Minnesota-based designer and manufacturer of ammunition, sporting goods and outdoor recreational products, is also the parent company of […]
11/29/2023
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By Arsenio Toledo
JPMorgan Chase to shut down nearly 160 bank branches across the U.S.
JPMorgan Chase, America’s largest bank, will have shut down 159 branches across the country by the end of 2023. For Chase Bank’s customers, these closures represent serious inconveniences, if not outright terrible disruptions to their lives. Services previously offered by human bank tellers and other banking professionals who used to staff these now-shuttered branches have now been […]
11/27/2023
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By Arsenio Toledo
Thanksgiving was more expensive under the Joe Biden administration thanks to “Bidenflation”
The staple foods included in every Thanksgiving meal are now more expensive as food inflation grips the nation, thanks to President Joe Biden’s economic policies. Some notable holiday favorites severely impacted by food inflation include russet potatoes, canned pumpkins and canned cranberries, whose prices are up 14 percent, 30 percent and 60 percent, respectively, compared to […]
11/15/2023
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By Arsenio Toledo
47 Nations combine forces to require automated tax authority monitoring of crypto trading data
Nearly 50 nations, including the U.S., have announced their intention to collaborate to enable the automatic exchange of information between cryptocurrency trading firms and tax agencies. In a press release, the British government said this new coalition of nations and other jurisdictions is partnering up with the Organization for Economic Cooperation and Development (OECD) to […]
11/14/2023
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By Arsenio Toledo
Bangladesh garment factory owners demand fashion retailers help shoulder costs amid economic slowdown and mandated wage hike
Owners of clothing factories in global fashion manufacturing hub Bangladesh are asking major clients to help them pay for a 56 percent government-mandated hike in wages for garment factory workers. The wage increase of 56 percent is the first notable wage increase for the industry’s workers in five years and raises wages to 12,500 Bangladeshi […]
10/19/2023
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By Arsenio Toledo
Interest rate for 30-year fixed mortgage rises to 8.45% – the highest it has been since 2000
The interest rate for the 30-year fixed mortgage, one of the most popular kinds of mortgages in the United States, just hit a record-high of 8.45 percent for the first time since 2000. This is not the first time this month that the 30-year fixed mortgage’s average interest rate actually jumped above the eight percent mark. On […]
10/17/2023
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By Arsenio Toledo
Rite Aid forced to file for bankruptcy amid slumping sales, high debt and ongoing opioid lawsuits
Drugstore chain Rite Aid has filed for Chapter 11 bankruptcy protection in New Jersey owing to soaring debts and said it would be closing underperforming stores, selling its assets and resolving pending litigation against it. Rite Aid is one of the largest pharmacy retailers in the United States. Court filings reveal that the company has […]
10/13/2023
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By Arsenio Toledo
Sam Bankman-Fried tried to recoup losses by opening fake accounts using IDs of Thai prostitutes
Former billionaire and cryptocurrency magnate Sam Bankman-Fried directed his former girlfriend Caroline Ellison to hide the billions of dollars in customer deposits and investor funds he siphoned from his company through a variety of elaborate schemes. This is according to Ellison’s testimony before a federal court in downtown Manhattan. Ellison, who at the time of the […]
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