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News & Articles By Ava Grace
08/19/2024
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By Ava Grace
Major U.S. flooring supplier files for BANKRUPTCY and plans to close 94 stores nationwide
A major flooring materials supplier in the U.S. has filed for bankruptcy and plans to close 94 of its locations across the country. The Daily Mail reported that LL Flooring filed for Chapter 11 bankruptcy protection in Delaware on Aug. 11. A Chapter 11 filing allows companies to continue running their business while they work […]
08/15/2024
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By Ava Grace
Germany’s EV sales PLUMMET by almost half in first 6 months of 2024
The sales of electric vehicles (EVs) in Germany have dropped by almost half in the first six months of 2024. The German daily newspaper Die Welt reported on this development, noting that EV sales among private customers in Germany have dropped by 47 percent compared to a year prior. This drop in sales serves as […]
08/14/2024
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By Ava Grace
U.S. credit card debt hits $1.14 TRILLION, with the average balance per consumer now at $6,329
Credit card debt in the U.S. has reached $1.14 trillion for the second quarter of the year. The Federal Reserve Bank of New York (NY Fed) revealed this figure on Aug. 6, noting that this was $20 billion higher than the $1.12 trillion recorded for the first quarter of 2024. A year prior, that figure was $1.03 trillion. Meanwhile, […]
07/10/2024
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By Ava Grace
Discount homeware chain Big Lots warns of BANKRUPTCY filing, triggering fears of mass closures
A discount homeware store chain in the U.S. has considered filing for bankruptcy protection, sparking fears of mass store closures. Columbus, Ohio-based Big Lots, which boasts of almost 1,400 stores across the country, is the latest to warn of money problems. The company has told financial regulators that it many not be able to continue […]
06/18/2024
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By Ava Grace
Intel HALTS construction of $25B computer chip plant in Israel due to lack of supplies stemming from Red Sea blockade
American computer chip giant Intel Corp. has halted the construction of a $25 billion chip manufacturing plant in Israel. The Israeli newspaper Calcalist first broke the news of the move on June 10, writing that “Intel’s suppliers received in recent days notice of the cancellation of contracts for the supply of equipment and materials required […]
06/05/2024
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By Ava Grace
FRBM President Neel Kashkari: Surge in immigration contributes to persistently high inflation, interest rates
The president of the Federal Reserve Bank of Minneapolis (FRBM) attributes sustained high inflation and interest rates to the recent surge in immigration. FRBM President Neel Kashkari made this observation during an interview with the Telegraph, asserting that these high inflation and interest rates are likely to remain high for an extended period. He expressed […]
06/04/2024
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By Ava Grace
RETAIL APOCALYPSE: Grocery chain Stop & Shop announces CLOSURE of underperforming outlets
The grocery chain Stop & Shop has announced the closure of its “underperforming” stores located in areas where it has a presence. The announcement was made during its parent company Ahold Delhaize’s “Strategy Day,” where a four-year plan for its brands was outlined. Ahold Delhaize CEO JJ Fleeman said: “Stop & Shop has already evaluated […]
05/30/2024
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By Ava Grace
Casual dining chain Red Lobster officially files for BANKRUPTCY
Casual dining chain Red Lobster, which became famous for popcorn shrimp and “endless” seafood deals, has officially filed for bankruptcy. Citing a CNBC report, 100 Percent Fed Up said the seafood restaurant cited “a difficult macroeconomic environment, a bloated and under-performing restaurant footprint, failed or ill-advised strategic initiatives and increased competition” in its Chapter 11 […]
05/29/2024
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By Ava Grace
Biden admin to sell off almost 1M BARRELS from U.S. fuel reserves in desperate attempt to lower pump prices
The Biden administration has announced plans to sell off almost one million barrels of gasoline in a desperate bid to lower fuel prices as Americans gear up to hit the road this summer. The Department of Energy‘s Office of Petroleum Reserves confirmed the sale, adding that 998,824 barrels will be released from the Northeast Gasoline […]
04/11/2024
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By Ava Grace
Bureau of Labor Statistics reports ZERO GROWTH in manufacturing jobs in March
The Bureau of Labor Statistics (BLS) has reported no new manufacturing jobs were added in March despite the administration of President Joe Biden creating many programs and public spending initiatives to boost hiring in the sector. This comes from the BLS’s latest Employment Situation Summary for March, revealing that the number of manufacturing jobs in the United States […]
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