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News & Articles By Richard Brown
01/03/2024
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By Richard Brown
Worst is yet to come: Banking crisis is far from over
The turbulence of the banking crisis is far from over. Despite a temporary lull following the collapse of several banking giants earlier this year, ominous signs suggest that the worst is yet to unfold. Reports indicate that a staggering 2,118 bank branches shuttered in 2023 alone, with the data encompassing only 10 months of the year. […]
11/03/2023
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By Richard Brown
Biden’s wind energy plans in peril as Orsted abandons 2 major U.S. projects
The wind energy plans promoted by President Joe Biden are facing tough challenges as the world’s largest offshore wind farm developer has abandoned two major U.S. projects due to supply chain disruptions and interest rate impacts. Orsted A/S, the developer, cited “negative developments from adverse impacts relating to supply chains, increased interest rates, and the […]
11/02/2023
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By Richard Brown
GREEN PANIC: Siemens Energy shares crash 37% after admitting wind turbine troubles
The shares of energy firm Siemens Energy took a nosedive on Oct. 23, plunging by 37 percent as it issued a warning about challenges in its wind turbine business. Siemens Gamesa, its wind energy business division, is actively addressing these challenges – which include turbine quality issues and offshore ramp-up problems. These issues had been previously […]
10/23/2023
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By Richard Brown
END OF THE ROAD: Digital freight startup founded by ex-Amazon execs suspends operations
Convoy, the digital freight startup founded by former Amazon executives, is navigating a challenging transition as it suspends its operations and looks to diversify its business strategies. Despite raising an impressive $260 million in a funding round just last year, which valued the company at a significant $3.8 billion, Convoy has been grappling with the […]
10/23/2023
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By Richard Brown
Oil prices could surge to $150 per barrel unless the U.S. increases exploration
Continental Resources Inc. (CLR), a petroleum firm led by billionaire Harold Hamm, has warned that oil prices could surge to $150 per barrel unless the U.S. government takes more action to promote exploration. CLR CEO Doug Lawler stated that oil production in the Permian Basin, much like other shale regions, may peak without increased exploration. […]
10/18/2023
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By Richard Brown
LinkedIn, which discriminates against conservatives, just fired around 700 employees
Microsoft subsidiary LinkedIn, notorious for its anti-conservative bias, has fired around 700 employees as part of workplace reduction efforts. According to a CNBC report, the layoffs sought to reshape LinkedIn’s organizational structure and optimize operations. The company’s engineering department bore the heaviest brunt of the layoffs, though it wasn’t the only division affected. The cuts […]
10/11/2023
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By Richard Brown
U.S. mortgage rate surges to highest level in over two decades
U.S. mortgage rate has surged to its highest level in over two decades, driven by the Federal Reserve’s efforts to raise interest rates. Bloomberg recently reported on this, citing a survey by the Mortgage Bankers Association. According to the trade association, the average 30-year fixed mortgage contract rate increased by 12 basis points during the reporting period, […]
10/09/2023
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By Richard Brown
HAZARDOUS AIRBAG: General Motors faces recall of 20 million vehicles
General Motors (GM) is facing the grim possibility of recalling approximately 20 million vehicles equipped with a potentially hazardous airbag component, according to the Wall Street Journal (WSJ). Government authorities have urged for these vehicles to be recalled to prevent further harm or fatalities. This development places GM among the companies most affected by the U.S. […]
10/09/2023
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By Richard Brown
Iraq to BAN cash withdrawals and transactions in U.S. dollars starting next year
The Iraqi government will ban all cash withdrawals and transactions in U.S. dollar starting Jan. 1, 2024. Mazen Ahmed, director-general of investment and remittances at the Central Bank of Iraq (CBI), said people who deposit dollars into banks before the end of 2023 will still be able to withdraw these funds in dollars next year. However, […]
10/03/2023
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By Richard Brown
Target partners with Homeland Security in bid to curb surge in retail theft
Amid the closure of several of its stores, Target has announced its partnership with the U.S. Department of Homeland Security to address the surge in theft. The retail giant has also committed to making substantial investments in cyber defense as it grapples with escalating criminal activity. In a statement issued to its customers, the popular […]
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