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News & Articles By Belle Carter
11/15/2022
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By Belle Carter
Former multibillion-dollar crypto firm FTX files for bankruptcy
FTX Trading Limited on Friday, Nov. 11, announced that it is going to file for bankruptcy and that Samuel Bankman-Fried is resigning as CEO. This was after the company failed to source enough capital to stay afloat. Bankman-Fried has been succeeded by John J. Ray III, though the outgoing chief will stay on to assist with the […]
11/14/2022
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By Belle Carter
TransUnion: Auto loan delinquencies rise to highest level in over a decade
TransUnion, a credit agency that tracks more than 81 million auto loans throughout the United States, has reported that Americans are failing to pay their auto loans as borrowing costs continue to rise. According to the credit agency, 1.65 percent of auto loans were at least 60 days behind their monthly installment in Q3 – the highest rate of […]
11/11/2022
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By Belle Carter
Meta’s Mark Zuckerberg fires more than 11K employees, takes blame for overestimating company’s growth prospects
Meta CEO Mark Zuckerberg announced that the tech giant would lay off more than 11,000 workers, equivalent to 13 percent of the company’s total workforce. The tech bigwig elaborated on the layoffs in a Nov. 9 blog post addressed to employees, taking the blame for overestimating the company’s growth prospects and overextending investments. “I want […]
11/11/2022
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By Belle Carter
Used car prices DROP 10.6% year-over-year in October – the worst decline in nearly 14 years
The once soaring used car prices are now plunging, thanks to the Federal Reserve continuing to hike interest rates in a bid to battle inflation. As per the Manheim Used Vehicle Value Index, a gauge of wholesale market prices for used vehicles, the wholesale used-vehicle prices for October declined by about 10.6 percent on a year-over-year basis – the […]
11/09/2022
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By Belle Carter
Turkey’s inflation hits 24-year high, but Erdogan insists there’s no need to raise interest rates
Turkey’s inflation rate has hit 85.51 percent in October 2022, the highest in 24 years. But Turkish President Recep Tayyip Erdogan remains adamant that the Central Bank of the Republic of Turkey (CBRT) doesn’t need to raise interest rates. According to a Nov. 3 report by the Turkish Statistial Institute (TurkStat), food prices were 99 percent […]
11/07/2022
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By Belle Carter
Venezuela’s inflation rate of 359% erodes economic recovery, forces citizens to migrate
Venezuela’s almost 400 percent inflation rate over the past three months has eroded the “slow and fragile” recovery of the country’s economy – which had been collapsed by the policies of its President Nicolas Maduro. According to a Bloomberg report, the country’s 359 percent inflation for the past three months is well down from the […]
11/03/2022
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By Belle Carter
Freight companies expect “muted peak season” due to waning retailer demand
Freight companies are now preparing for what executives are calling a “muted peak season” as diminishing shipping demand from overstocked retailers ripples across the country’s shipping markets. According to the Wall Street Journal (WSJ), the changes are cascading across freight operations, cutting into inbound shipping volumes and bringing fewer goods onto the roads. “The fourth […]
11/03/2022
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By Belle Carter
Collapse incoming: Eurozone inflation jumps to record-high 10.7%
Recently released data from Eurostat, the statistical office of the European Union, showed that Eurozone inflation has just reached a record-high 10.7 percent. As per the Luxembourg-based agency, Baltic countries Estonia, Latvia and Lithuania remain the most deeply affected as they remain above the 20 percent mark. Estonia leads the pack with a 22.4 percent estimate. Meanwhile, Italy’s annual […]
11/02/2022
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By Belle Carter
Australia’s central bank may aggressively increase interest rates as inflation hits 32-year high
Analysts expressed concerns that the Reserve Bank of Australia (RBA) may be forced to aggressively increase interest rates as inflation hit a 32-year high. According to the Australian Bureau of Statistics (ABS), the current inflation rate of 7.3 percent is more than one percent higher than last year’s 6.1 percent. It is the highest since 1990 and almost […]
10/27/2022
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By Belle Carter
Mortgage rates surge to 20-year high, causing massive drop in home sales
The 30-year mortgage rate is now at 20-year high 6.94 percent, according to finance company Federal Home Loan Mortgage Corporation’s (FHLMC) latest weekly survey. As per FHLMC, also known as Freddie Mac, the 30-year mortgage rate was at 6.92 percent last week and only 3.09 percent on average last year. The report further indicated that […]
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