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News & Articles By Laura Harris
04/30/2024
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By Laura Harris
SHORT CIRCUIT: Ford’s electric vehicle unit lost $1.3 BILLION in first quarter of 2024
Ford Motor Company has reported $1.3 billion in losses on its Model E sector or a staggering $132,000 loss for each of the 10,000 vehicles sold during the first quarter of 2024. The electric vehicle (EV) unit, known as Model E, saw a 20 percent decrease in sales compared to 2023, with only 10,000 EVs sold in the first […]
04/29/2024
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By Laura Harris
Housing costs soar by 5.2% due to rising mortgage rates and low housing supply
A new report from real estate company Redfin warns that the cost of buying a house in the United States has increased by 5.2 percent due to rising mortgage rates, soaring home prices and persistently low housing supply. According to the report, the median home price in the U.S. is now at $380,250, which is just $3,095 shy […]
04/18/2024
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By Laura Harris
Tesla plans to lay off 10% of workforce after dismal quarterly sales
Tesla has announced its plan to lay off approximately ten percent of its workforce after the release of its dismal first-quarter sales report. In that quarter, Tesla experienced a significant decline in sales due to heightened global competition, a slowdown in electric vehicle sales growth and unsuccessful attempts to attract more buyers, including with price reductions. Tesla has […]
03/29/2024
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By Laura Harris
REPORT: Renting is now cheaper than owning a house in America’s 50 biggest metro areas
A recent Realtor.com report found that renting has emerged as more cost-effective than buying homes across all 50 metro areas in the United States as home prices soar and mortgage rates escalate. Realtor.com, a company operated by News Corp. subsidiary Move Inc., determines the monthly expense of home ownership by aggregating the median listing prices of studio, one-bedroom and two-bedroom […]
03/27/2024
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By Laura Harris
53% of Millennial and Gen Z consumers are resorting to “buy now, pay later” services and racking up enormous debt
Recent data from analytics company LexisNexis Risk Solutions found that 53 percent of millennials (ages 30 to 44) and Gen Z (ages 18 to 29) consumers are now using “buy now, pay later” (BNPL) services as a financial lifeline for their daily essentials to adapt to inflation. BNPL providers like Afterpay Limited and Klarna Bank AB have […]
03/19/2024
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By Laura Harris
EV COLLAPSE: Automakers are scaling back and delaying their EV plans as consumer demand wanes
The enthusiasm surrounding electric vehicles (EVs) that once swept through the automotive industry is now tapering off as consumer demand misaligns with the industry’s lofty ambitions. For years, automakers had been riding high on optimistic sales projections and ambitious targets for EV growth. From legacy giants like Ford Motor Company and General Motors to luxury […]
03/06/2024
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By Laura Harris
StatCan: Canadian household debt-to-income ratio surpasses levels seen across other G7 countries
Recently released data from Statistics Canada (StatCan) reveals that Canada has clinched the dubious title of having the highest household debt to disposable income level among G7 countries due to the country’s ongoing housing crisis. Real estate constitutes a substantial portion of the average household’s wealth, accounting for approximately 55 percent, while mortgages represent the bulk of their […]
02/27/2024
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By Laura Harris
Nike is DOING IT: Sports shoes and apparel giant to cut roughly 1,700 jobs to reduce costs by $2B over the next 3 years
Global sportswear giant Nike has announced plans to lay off roughly 1,700 employees, in a bid to cut costs by $2 billion over the next three years. Last December, Nike revised its revenue forecast and revealed cost-cutting measures as the company faces challenges stemming from changing consumer behavior, increased competition from emerging brands and economic […]
01/29/2024
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By Laura Harris
Apple to launch own EV in 2028 after SCRAPPING plans to create a fully autonomous car
Tech mega-corporation Apple is planning to launch its first-ever electric vehicle (EV) in 2028 after years of setbacks, executive turnover and ambitious visions of creating a fully autonomous vehicle without a steering wheel. The EV project, known as Project Titan and T172, has been marred by leadership changes, strategy shifts, layoffs and multiple delays since its […]
01/26/2024
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By Laura Harris
LA Times lays off over 20% of newsroom workforce in desperate effort to stop financial losses
The Los Angeles Times, one of the oldest journalistic institutions in the United States, has laid off at least 115 employees, representing more than 20 percent of its newsroom workforce to address financial struggles. The newspaper described its recent mass layoffs as “one of the largest workforce reductions in the history of the 142-year-old institution.” Since biotech billionaire Dr. Patrick […]
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