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News & Articles By Arsenio Toledo
09/30/2021
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By Arsenio Toledo
Costco limiting consumer purchases of essential items like toilet paper as supply line collapse accelerates
Membership-only retail chain Costco said on Thursday that it was bringing back limits on purchasing key items such as toilet paper, bath tissues, bottled water and cleaning supplies to prevent hoarding amid another surge of Wuhan coronavirus (COVID-19) cases. During the first surge of COVID-19 cases early last year, people all over the country began stockpiling household […]
09/28/2021
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By Arsenio Toledo
China’s Central Bank bans all cryptocurrency transactions
China’s central bank has banned all cryptocurrency transactions in the communist nation. In a statement, the People’s Bank of China announced a blanket ban on all cryptocurrency-related exchanges – such as offering trading, order matching, token issuance and derivatives. This ban also prevents any overseas-based cryptocurrency exchanges from providing services in mainland China. “Overseas virtual currency exchanges […]
09/23/2021
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By Arsenio Toledo
Stock markets drop due to concerns over potential collapse of Chinese real estate market
The American stock market is experiencing its biggest drop in nearly a year. The Dow Jones Industrial Average, the S&P 500 and the Nasdaq Composite have all declined by 1.78, 1.7 and 2.19 percent, respectively. This is the stock market’s worst day since Oct. 2020. Economic analysts believe the tumble is due to concerns over China’s real estate […]
09/15/2021
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By Arsenio Toledo
Food price inflation hitting world’s poorest countries the hardest
Global food prices have been climbing for over a year by now. While Americans have definitely felt a lot of pressure from the inflation, the worst effects have been felt by people in poorer and developing countries. According to the latest data from the United Nations’ Food and Agriculture Organization, food prices have risen by 40 […]
09/15/2021
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By Arsenio Toledo
Southeast Asian governments are reopening their economies that were devastated by lockdowns
The nations of Southeast Asia are reopening their economies that were devastated by their ill-advised Wuhan coronavirus (COVID-19) lockdowns. Officials in many of the region’s governments are all pushing forward with their plans to reopen their economies after spending the last few weeks or even months keeping most businesses closed and millions of families unable […]
08/07/2021
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By Arsenio Toledo
Americans are taking on more debt than they can handle, most of it going to mortgages
Americans are taking on more debt than they will ever be able to handle. The Federal Reserve reported on Tuesday that in the second quarter of this year, household debt ballooned to $14.96 trillion. Total household liabilities in the United States increased by $313 billion from three months earlier, the largest single increase in household debt in 14 […]
07/28/2021
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By Arsenio Toledo
US companies continue increasing prices of their products, fueling record levels of inflation
Corporations in the United States are still increasing the prices of their products, fueling inflation the likes of which the country has not seen in over a decade. The price increases are occurring due to the rising costs for materials, transportation of goods and labor. To keep their profit margins, companies have to increase the […]
07/07/2021
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By Arsenio Toledo
Housing market recovery: Pending home sales rose in May
The housing market is seeing signs of life. Pending home sales in May rose by eight percent compared to April, according to the National Association of Realtors, which reported the uptick in the housing market on June 30. Economists interviewed by business and finance news website MarketWatch initially predicted that pending home sales in May would decrease by […]
06/24/2021
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By Arsenio Toledo
Surging food prices force restaurants to increase cost of menu items
Food prices are surging in grocery stores and restaurants, hitting small businesses very hard. “They haven’t gone up. They’ve almost doubled,” said Nick Rando, owner of an Italian restaurant in Natick, Massachusetts. Rando said that in January, red meat and steak cost him $7.35 a pound. “Last week, it was $13.20 a pound.” People in Massachusetts […]
05/17/2021
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By Arsenio Toledo
Florida McDonald’s forced to pay applicants $50 just to show up to interview because unemployment benefits are more lucrative
Due to a serious labor shortage in his restaurants, the owner of a McDonald’s franchise in Tampa, Florida, said he is willing to pay people $50 just to show up for a job interview. Despite this incentive, he is still struggling to find applicants for his store because people make more money from unemployment benefits. Blake […]
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