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News & Articles By Ramon Tomey
05/18/2021
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By Ramon Tomey
Supply shortages are leading to price hikes, worsening inflation
Economic analysts have raised the alarm bells on possible supply shortages for raw materials. These shortages, alongside logistical hurdles, have forced many firms to warn about a possible price hike. Because of these foreboding signs, many are bracing for possible inflation to occur amid the ongoing COVID-19 pandemic. According to data from JPMorgan Chase & […]
05/17/2021
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By Ramon Tomey
Cryptocurrency scam hits hundreds of small investors
Hundreds of cryptocurrency investors lost all their money in their digital wallets after a cryptocurrency scam. The victims invested in a new cryptocurrency, allowing them to purchase pre-sale tokens through fund transfers. Unfortunately, the fund transfer approvals permitted bad actors to access the victims’ digital wallets – and steal all their money. The affected investors […]
04/16/2021
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By Ramon Tomey
Bit-Yuan? China creates its own digital currency
The concept of paper money originated in China thousands of years ago. Now, China is pioneering another concept related to money: Its own version of a digital currency. The so-called “digital yuan” aims to establish a monetary system independent of the U.S. dollar. However, this could also serve as another form of surveillance – given […]
03/30/2021
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By Ramon Tomey
Shipping companies stuck waiting near Suez Canal alerting US Navy over piracy risks
A number of shipping companies are reaching out to the United States Navy with regard to piracy concerns. The move followed the incident involving cargo vessel Ever Given becoming stuck in the Suez Canal in Egypt. Given the obstruction of a vital shipping artery, shipping firms are opting to take the alternative – a longer […]
02/22/2021
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By Ramon Tomey
Economists warn $1.9 trillion Biden relief bill may trigger runaway inflation
Economists have warned that President Joe Biden’s proposed COVID-19 relief bill may trigger inflation. They pointed out that the American Rescue Plan worth $1.9 trillion, and its accompanying stimulus, may negatively impact inflation projections. The plan put forward by Biden on his first day in office aimed to help an America impacted by the Wuhan […]
12/30/2020
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By Ramon Tomey
Bank of America flags “outrageous” unemployment fraud worth $2 billion
Bank of America (BofA) pointed out potential unemployment benefits fraud in California, spread out across 640,000 accounts with suspicious activity. A BofA official said red flags they found include claims filed in the names of infants, children and centenarians, along with individuals living in other states. The bank called for an investigation of the fraudulent […]
11/20/2020
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By Ramon Tomey
Logistics experts: COVID-19 marks the end of globalization, makes national supply chains critical infrastructure
Logistics experts say that the Wuhan coronavirus pandemic will mark the end of globalization, paving the way for localized supply chains to be fundamental once more. The industry survey, conducted by Bollore Logistics and Transport Intelligence, noted that 34 percent of the respondents agreed that the COVID-19 pandemic will signal the end of global supply chains, and […]
10/21/2020
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By Ramon Tomey
Coronavirus pandemic will cost the US $16 trillion, say economists
The ongoing coronavirus pandemic will cost the U.S. $16 trillion – about four times the amount lost during the Great Recession of 2007 to 2009 – estimate Harvard University economists Lawrence Summers and David Cutler. In a paper published in the Journal of the American Medical Association, the economists wrote that “lost income from the COVID-19 induced recession” comprised approximately half of […]
10/01/2020
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By Ramon Tomey
Almost three-quarters of all U.S. hotels to lay off employees due to coronavirus pandemic
The hospitality industry in the U.S. has been reeling from the effects of the coronavirus pandemic, with hotels furloughing their staff – if not laying them off. In fact, 74 percent of hotels would be forced to lay off more employees if the federal government does not help them tide over. A study released by […]
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