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News & Articles By Laura Harris
07/17/2023
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By Laura Harris
More Americans continue to rely on Buy Now Pay Later (BNPL) services to combat inflation and consumer debt
More Americans are relying on buy now, pay later (BNPL) services to afford basic necessities like groceries due to increasing inflation and consumer debt. According to a survey by the Federal Reserve, approximately one in eight consumers has used a BNPL service at least once in the past 12 months, slightly up from the one in 10 who […]
06/27/2023
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By Laura Harris
Wealthy shoppers now embracing discount stores amid worsening FOOD INFLATION
Discount retailers such as Dollar General, Aldi and Five Below are seeing wealthier customers flock to their locations amid worsening food inflation. Retail analytics firm InMarket noted that there has been a four percent average increase in the share of individuals making more than $100,000 visiting dollar stores this year, compared to the second half […]
06/27/2023
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By Laura Harris
FedEx to shut down 29 more aircraft as shipping demand shrinks
Global shipping giant FedEx plans to remove 29 aircraft from its fleet this year as part of a comprehensive cost-cutting initiative. This move aims to significantly decrease permanent costs and enhance the flexibility of the company’s logistics network in response to the downturn in global trade. During a recent earnings briefing, FedEx CEO Raj Subramaniam announced that the […]
06/20/2023
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By Laura Harris
Central banks are badly losing their war against FOOD INFLATION
Amid a wave of interest rate hikes by central banks across the globe, the surge in food prices continues unabated. Experts associated this phenomenon with two key factors: the inelasticity of food demand and a looming long-term supply crisis. Despite the best efforts of central banks to rein in inflation through interest rate adjustments, the fundamental need […]
06/15/2023
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By Laura Harris
Leaked files show Saudi crown prince threatened “major” economic pain on US amid oil feud
A leaked American intelligence document shows that Saudi Arabian Crown Prince Mohammed bin Salman privately threatened to alter the long-standing status of the United States’ relationship with Saudi Arabia by imposing “major” economic costs on the country if Washington retaliated to the kingdom’s decision to slash oil production last year. The classified U.S. intelligence document was leaked […]
06/01/2023
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By Laura Harris
Portent of things to come: AI-generated image of Pentagon explosion goes viral, triggers market downturn
An image purportedly showing an explosion at the headquarters of the U.S. Department of Defense (DoD) in Virginia triggered a frenzy of turmoil on social media and caused a market downturn. However, the said image was found to be a fake one generated using artificial intelligence (AI). Several news outlets tweeted the image, among them […]
05/16/2023
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By Laura Harris
Biden administration may ban bank withdrawals amid decline in M2 money supply, Hugh Hendry warns
Hedge fund manager Hugh Hendry has warned that the Biden administration is mulling a freeze on U.S. bank withdrawals amid the decline in M2 money supply – a benchmark measure of how much cash and cash-like assets is circulating in the U.S. economy. “Sometimes it’s kind of relevant to panic. I would recommend you panic,” he said. […]
05/01/2023
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By Laura Harris
Walmart store closures leave local communities grappling with economic and social consequences
Walmart recently announced the permanent closure of six stores, leaving the affected cities grappling with the economic and social consequences. The closures have raised concerns about job losses, access to affordable goods and the overall impact on local communities. The shuttered stores were in South Bend, Indiana; Forest Park, Ohio; Brooklyn Center, Minnesota; Louisville, Kentucky; Everett, Washington; […]
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