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News & Articles By Cassie B.
08/11/2023
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By Cassie B.
Americans’ credit card debt reaches a record-setting $1 trillion in the face of inflation and rising expenses
The New York Federal Reserve has reported that aggregate credit card balances climbed during the second quarter of this year and exceeded $1 trillion for the first time on record as Americans are increasingly relying on credit cards to cover their expenses. In the period from April through June, total credit card and indebtedness climbed […]
07/31/2023
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By Cassie B.
Ford loses billions on electric vehicles, reduces its EV production target
Ford has announced that it expects to lose $4.5 billion in its electric vehicles division, “Ford Model e,” this year. This marks a significant rise over its previous loss projection of $3 billion. It has lost $1.8 billion on the vehicles so far this year. It’s just the latest bad news for Ford Model e, […]
07/20/2023
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By Cassie B.
Russia plans to start testing its digital ruble CBDC this summer
Russian lawmakers have approved the development of a digital ruble, and it could begin testing later this summer. While the bill has already passed through Russia’s higher legislative body, it must obtain a signature from President Vladimir Putin before it can go into effect. The Russian central bank reportedly plans to launch a test of […]
06/20/2023
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By Cassie B.
Regional banks trying to unload commercial real estate loans as new crisis looms
Regional banks are currently scrambling to sell down their commercial real estate loan portfolios to minimize their risk amid fears of more bank runs like those seen late last year. The stress seen in the commercial real estate sector right now is weighing heavily on banks and regulators alike, and it’s regional banks that are […]
06/16/2023
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By Cassie B.
Home Depot looking to take advantage of America’s housing affordability crisis by offering tiny house kit for under $44,000
As Americans continue to grapple with high home prices, Home Depot is trying to cash in on the problem by offering a tiny house kit that costs just under $44,000. The offering comes at a time when the National Association of Realtors found that 75 percent of homes are currently too expensive for middle-class home […]
06/14/2023
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By Cassie B.
U.S. budget deficit climbs in May amid big government spending and falling revenue
Government income has dropped this year, pushing the federal deficit deeper into the red than expected. New data shows the budget deficit climbed in May against a backdrop of falling federal revenues and rising Medicare spending. The Monthly Treasury Statement showed a May shortfall of $240 billion, which is a full $66 billion over last […]
06/13/2023
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By Cassie B.
Calm before the storm: Financial experts warn current market calm is a sign of impending recession
The recent resurgence in the stock market following climbing interest rates and high-profile bank failures is being interpreted by some financial experts as a sign that a recession could be just around the corner. JPMorgan Asset Management Global Head of Fixed Income Bob Michele said that today’s economic climate calls to mind the lull seen […]
06/09/2023
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By Cassie B.
California’s “impossible” electric truck mandate could put logistics companies completely out of business
With California’s deadline for zero-emissions vehicles looming, logistics companies are growing concerned that compliance will be impossible. Under the new mandate, which goes into effect on January 1, 2024, all new trucks that are bought for servicing distribution centers, ports and rail yards must be zero-emission models. One of the main concerns is the low […]
06/07/2023
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By Cassie B.
Macy’s and other major retailers say slower sales indicate major problems for American economy
Major retailers are sounding alarm bells over the current state of the economy in light of shifting customer demand at their stores as they struggle to find new ways to remain profitable. Big chains like the department store Macy’s and warehouse club Costco report that shoppers are changing their purchases and spending less money on […]
06/05/2023
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By Cassie B.
Target LOSES $14 BILLION in market value as backlash over controversial “Pride” collection continues
Target is the latest company to find out the meaning of “get woke, go broke” as the backlash over its controversial LGBT Pride line of products has led to a major financial setback. Financial services giant JPMorgan downgraded Target’s stock from “neutral” to “overweight” as its market value dropped $14 billion in the fallout from […]
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