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News & Articles By Ava Grace
09/16/2024
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By Ava Grace
CA Gov. Newsom VETOES bill allowing ILLEGALS to receive interest-free home loans
California Gov. Gavin Newsom has vetoed a measure allowing illegal immigrants to get home loans without having to pay interest. Newsom, a Democrat, issued his veto of Assembly Bill (AB) 1840 on Sept. 6. Had the proposal been signed, it would have made some illegal aliens eligible for up to $150,000 in state-backed home loans. […]
09/04/2024
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By Ava Grace
AND SO IT BEGINS: Swedish fintech company Klarna becomes first to conduct MASS LAYOFF directly linked to AI advancements
Swedish bank and financial technology company Klarna has become the first company to lay off over a thousand workers and utilize artificial intelligence (AI) to replace them. Klarna Founder and CEO Sebastian Siemiatkowski claimed that advancements in AI have given him room to pare down his labor force. He believes the company can function with around half of its […]
08/29/2024
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By Ava Grace
Auto giant Ford scales back EV production due to LOUSY SALES
The Ford Motor Company has scaled back its electric vehicle (EV) production due to lousy sales. On Aug. 21, the automaker said it was scrapping plans for a sizeable all-electric sport utility vehicle (SUV) and delaying production of its all-electric F-150 Lightning pickup truck to the second half of 2027. It also plans to sell […]
08/23/2024
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By Ava Grace
Pharmacy chain Rite Aid suddenly SHUTTING DOWN ALL STORES in Ohio and Michigan
Pharmacy chain Rite Aid has announced plans to close all its stores in Ohio and Michigan, sending customers scrambling to transfer their prescriptions as a result. The drugstore chain once boasted of having more outlets in the country than its rivals, having operated 4,000 drugstores coast to coast in 1999. But 25 years on, Rite […]
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 […]
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