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News & Articles By Arsenio Toledo
07/26/2023
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By Arsenio Toledo
168-year-old Santa Barbara News-Press files for bankruptcy, fires all workers
The 168-year-old Santa Barbara News-Press, one of the oldest newspapers in California, has ceased publishing after its parent company filed for bankruptcy. This comes just months after the newspaper ceased all physical publication, becoming an online-only news publication in April. But its last digital edition was posted on Friday, July 22, following the revelation that owner […]
07/25/2023
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By Arsenio Toledo
Mexican drug cartels are behind surge in organized retail crime across the US
Mexican drug cartels are trying to expand their global criminal empires. According to reports, they are behind the recent surge in organized retail crime (ORC) in the United States. ORC is the large-scale theft of merchandise in retail outlets with the intent to resell the items for financial gain. Retail crime has become a very serious […]
07/20/2023
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By Arsenio Toledo
Tech companies laid off nearly 221,000 workers in 2023 – already way ahead of last year’s total
Nearly 221,000 global tech-sector employees have been laid off since the beginning of 2023. This is according to data compiled by the website Layoffs.fyi, which currently lists 877 tech companies that have laid off 220,995 employees since January. Last year, 1,024 tech companies laid off a total of 154,336 employees. Most recently, tech giant Microsoft announced […]
07/12/2023
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By Arsenio Toledo
Biden’s EV program is alienating allies in the United Auto Workers, who fear the push will lead to fewer well-paying union jobs
President Joe Biden’s sweeping electric vehicle (EV) program is alienating one of his formerly staunchest union allies: the United Auto Workers (UAW). The UAW, a massive and powerful union representing more than 400,000 workers in the automobile industry, has long been an influential force in progressive politics, aiding pro-labor union Democrats in the Midwest with […]
07/11/2023
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By Arsenio Toledo
GREEDFLATION: Walmart prepares to increase prices despite reporting 7.33% profit growth
Walmart is expected to once again increase store prices at a time when even the American middle class is struggling to shop for essentials at the big box store that many consider to be one of the cheapest places to get goods. Walmart has been warning for months now that inflation in the United States […]
07/10/2023
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By Arsenio Toledo
BANKRUPTCY BOOM: U.S. saw 70 major bankruptcies in just 4 months, the third worst start of year since 2000
The United States had at least 70 major bankruptcies in the first four months of the year. This major bankruptcy rate is the third worst start to the year since 2000, surpassed only in 2009 during the height of the Great Recession and in 2020 during the upheaval caused by economic lockdowns. In 2009, from […]
07/06/2023
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By Arsenio Toledo
Target to spend $5 billion on its stores to prevent them from shutting down
Big box retailer Target is spending $5 billion on its stores nationwide as part of a wider strategy to keep them profitable and prevent them from shutting down. The investment is a response to new and old issues faced by the company as well as other big box retailers, including the rise in online shopping, […]
07/06/2023
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By Arsenio Toledo
New York, California see tax revenues fall by double digits while Florida and Texas see massive gains
The reported tax revenues of New York and California are reeling as more and more people flee their respective states for more low-tax locales like Florida and Texas, both of which are consequently seeing surges in tax revenues. This is according to data compiled by the Urban-Brookings Tax Policy Center, a Washingt0n, D.C.-based think tank which […]
06/29/2023
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By Arsenio Toledo
EV COLLAPSE: Electric vehicle manufacturer Lordstown Motors files for bankruptcy
Electric vehicle manufacturer Lordstown Motors filed for bankruptcy protections on Tuesday, June 27, after announcing that it would put itself up for sale. It filed for Chapter 11 bankruptcy protections in a bankruptcy court in Delaware. Lordstown stated that it will be looking for potential buyers to take over its assets, including the manufacturing of the […]
06/28/2023
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By Arsenio Toledo
Survey: The average American has over $54,000 worth of debt and would do almost anything to get rid of it
A new survey has found that the average American has over $54,000 worth of debt – debt that many would do anything to get rid of. This is according to the survey conducted by market research company OnePoll on behalf of debt resolution firm Beyond Finance. The survey found that the average poll taker had […]
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