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News & Articles By Ramon Tomey
05/19/2023
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By Ramon Tomey
Target projects losses from organized retail crime will increase by $500M this year
Big-box retailer Target has projected that its losses from organized retail crime will increase by $500 million in 2023. Target CEO Brian Cornell made this projection during the company’s earnings call for the first quarter of the year, which happened on May 17. Filings disclosed that Target’s inventory loss amounted to a total of $763 […]
05/17/2023
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By Ramon Tomey
Zimbabwe defies IMF, sells gold-backed digital tokens to stabilize volatile currency
Despite admonitions by the International Monetary Fund (IMF) against the practice, Zimbabwe has sold gold-backed digital tokens to stabilize its volatile currency. According to ZeroHedge, the Reserve Bank of Zimbabwe’s (RBZ) sale of gold-backed digital currency “will allow small amounts of Zimbabwe dollars to be exchanged for the digital gold token.” This will enable more […]
05/15/2023
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By Ramon Tomey
De-dollarization efforts continue: BRICS member nations to discuss COMMON CURRENCY in August meeting
The BRICS bloc is set to discuss common currency during its next summit meeting. Voice of America (VOA) reported that the group – which consists of Brazil, Russia, India, China and South Africa – will touch on common currency during the 15th BRICS summit scheduled this coming August in Johannesburg, South Africa. At least three of […]
05/11/2023
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By Ramon Tomey
MTV News SHUTS DOWN, suffering the same fate as fellow leftist BuzzFeed News
MTV News has announced that it will shut down, with the development following the closure of fellow leftist BuzzFeed News. John Nolte, senior writer for Breitbart, elaborated on the news in a May 10 piece. He wrote that Paramount Global, MTV News‘ parent company, announced the closure as part of its 25 percent staff reduction “across the Showtime, […]
05/10/2023
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By Ramon Tomey
T-Mobile CLOSES DOWN flagship San Francisco store amid city’s chaos
Telecommunications company T-Mobile has quietly closed down its flagship store in San Francisco, amid decreased foot traffic and the city’s worsening crime rate. According to the Post Millennial, T-Mobile closed its two-level flagship store at the upscale Union Square area back in April. An employee assigned to T-Mobile’s Mission Street location attested to the closure, which […]
05/09/2023
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By Ramon Tomey
Record-breaking gold purchases by central banks observed in Q1 2023
Record-breaking purchases of gold by central banks of different nations were observed during the first quarter of 2023. The World Gold Council (WGC) disclosed this finding in its latest report, noting that demand for the metal from central banks worldwide reached 228 metric tons (MT). This was a 176 percent increase compared to the 82.7 […]
05/09/2023
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By Ramon Tomey
Cost-of-living crisis in Turkey undermines Erdogan re-election bid
The ongoing cost-of-living crisis in Turkey could compromise the re-election bid of Turkish President Recep Tayyip Erdogan. According to the Jerusalem Post (JPost), millions of Turks have had to deal with runaway inflation for years. Annual inflation has remained in the double-digit counts for almost all of the five years since the 2018 general elections. […]
05/05/2023
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By Ramon Tomey
Burger King to close up to 400 locations in 2023
Fast food chain Burger King is set to close up to 400 locations across the country this year, with the under-performing ones being the first to go. According to the Daily Mail, Burger King CEO Joshua Kobza confirmed the closures after the company announced its results for the first quarter of 2023. The earnings release […]
05/05/2023
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By Ramon Tomey
Nordstrom to leave downtown San Francisco after 35 years due to city’s deteriorating conditions of high violence and crime
Department store chain Nordstrom has announced that it will leave downtown San Francisco after 35 years in business there due to the city’s deteriorating condition. Nordstrom Chief Stores Officer Jamie Nordstrom wrote in a May 2 letter to employees: “The dynamics of the downtown San Francisco market have changed dramatically over the past several years, […]
05/04/2023
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By Ramon Tomey
Another one bites the dust: Investors warn of more economic pain after failure of First Republic Bank
Investors have warned of more economic pain ahead following the failure of the San Francisco-based First Republic Bank (FRB). The investors issued this warning during the Milken Institute’s 2023 Global Conference in Beverly Hills, California. According to them, the Federal Deposit Insurance Corporation’s (FDIC) seizure of a third U.S. regional bank threatens to constrain credit […]
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