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News & Articles By Richard Brown
10/25/2024
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By Richard Brown
Putin to showcase Russia’s global alliances at BRICS summit
Vladimir Putin is set to showcase Russia’s global alliances at the ongoing BRICS summit amid international condemnation over the country’s offensive in Ukraine. Leaders representing around 40 percent of the world’s population, including Chinese leader Xi Jinping and Indian Prime Minister Narendra Modi, are joining the BRICS summit hosted by the Russian city of Kazan. […]
10/10/2024
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By Richard Brown
German industrial orders plummet 5.8%, casting doubts on economic recovery
German industrial orders fell significantly more than anticipated in August, raising concerns about the manufacturing sector’s recovery in Europe’s largest economy. The federal statistics office reported a 5.8 percent decline in orders compared to the previous month, adjusted for seasonal and calendar variations. Analysts surveyed by Reuters had predicted a more moderate decrease of 2.0 […]
08/28/2024
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By Richard Brown
Brent crude oil prices soar above $81 as Libya shuts down oil production and exports
Libya’s eastern government has announced its intention to shut down oil production and exports, causing a cascading effect on the oil market and driving up the price of Brent crude oil past the $81 per barrel mark on Monday morning, Aug. 26. Libya is still divided following a six-year-long civil war that ended with the country […]
08/21/2024
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By Richard Brown
Germany halts new military aid to Ukraine amid budget shortfall
Germany has stopped approving new military aid requests for Ukraine as Berlin grapples with a significant budget shortfall, according to a report by the German newspaper Frankfurter Allgemeine Zeitung (FAZ). The decision, driven by efforts to address the country’s 12 billion euro ($13.34 billion) budget deficit, means that Chancellor Olaf Scholz will no longer approve future military […]
08/15/2024
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By Richard Brown
LL Flooring files for bankruptcy, will close 94 stores amid declining sales
LL Flooring, one of the largest hard-surface flooring retailers in the United States, has filed for bankruptcy, joining a growing list of retailers struggling with financial difficulties this year. Specializing in hardwood flooring, LL Flooring has experienced declining sales over the past year as homeowners cut back on remodeling projects. Under Chapter 11 bankruptcy protection, […]
08/15/2024
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By Richard Brown
Fitch downgrades Israel’s credit rating amid prolonged Gaza conflict
Credit rating agency Fitch downgraded Israel’s credit rating from “A+” down to “A” on Monday, Aug. 12, citing ongoing challenges related to the country’s military conflict. Fitch also maintained a negative outlook on Israel’s future credit rating, suggesting that further downgrades could occur if the situation deteriorates. The downgrade reflects the significant impact of the […]
07/05/2024
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By Richard Brown
BIDENOMICS claims another victim: Retail store chain Bob’s Stores to close down all locations by July 14
Bob’s Stores, a retailer specializing in athletic and casual clothing across six states, is closing all its locations. The chain currently has “Going Out Of Business” sales that offer customers massive discounts of between 30 to 70 percent off, and the company’s website is no longer operational. Shoppers can find reduced prices on top national […]
06/19/2024
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By Richard Brown
Malaysia declares intention to join BRICS
Malaysian Prime Minister Anwar Ibrahim has announced that his country will apply for membership in BRICS. The 77-year-old leader disclosed the decision in an interview with the Chinese outlet Guancha. “We have made our policy clear and decided to proceed. We will start the formal process soon,” Anwar stated. “We are waiting for the final […]
05/24/2024
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By Richard Brown
DOLLAR DEMISE: China selling U.S. Treasury bonds in record numbers in favor of gold, other commodities
China sold a record number of U.S. Treasury bonds in the first quarter of this year, marking a significant shift away from dollar assets in favor of other commodities. Beijing divested a total of $53.3 billion in Treasuries and agency bonds during the first three months of the year, while simultaneously increasing its purchases of […]
05/06/2024
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By Richard Brown
New U.S. anti-Russia sanctions target Chinese entities that sell dual-use products to Moscow
The Department of the Treasury has unveiled a list of sanctions against nearly 300 entities, targeting these groups and individuals believed to be aiding Russia to circumvent existing sanctions related to the special military operation in Ukraine, with a focus on products originating from China. According to a press release from the Treasury Department, these sanctions target a […]
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