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News & Articles By Arsenio Toledo
04/27/2023
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By Arsenio Toledo
Russian and Iranian officials discuss ways to WEAKEN THE DOLLAR
Russian and Iranian officials recently met in Tehran to discuss ways in which both nations can weaken the American dollar. The Jerusalem Post broke the story about the meeting, which took place on April 9 between Iranian Secretary of the Supreme National Security Council Ali Shamkhani and Russian Aide to the President and Secretary of […]
04/26/2023
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By Arsenio Toledo
Manufacturing giant 3M announces mass layoffs in preparation for a recession
Manufacturing conglomerate 3M announced massive layoffs on Tuesday, April 25, as part of another major restructuring plan influenced by the downturn in the American manufacturing sector and the possibility of a recession. The layoffs will affect around 6,000 staff around the world. According to 3M, this round of layoffs will help streamline corporate operations, simplify the company’s […]
04/26/2023
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By Arsenio Toledo
Credit Suisse lost over $68 billion in assets in Q1, bank’s turmoil continues
Credit Suisse reported on Monday, April 24, that it saw over 61 billion Swiss francs ($68.47 billion) in assets leave the bank during the first quarter of the year. The Zurich, Switzerland-based bank cited the “significant net asset outflows” as it posed results skewed by the debacle involving the Swiss government’s arranged merger with Credit […]
04/25/2023
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By Arsenio Toledo
Moody’s downgrades ratings of 11 regional banks as banking instability continues
Moody’s Investor Services, one of America’s premier credit rating and analysis corporations, issued downgrades for 11 regional investors. This development suggests that the recent bank failures have ushered in greater instability in the banking industry. The United States banking sector has come under increased scrutiny following the catastrophic and historic failures of the tech industry-focused Silicon Valley […]
04/23/2023
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By Arsenio Toledo
Global shipping to split into Western and Eastern blocs soon
The global shipping industry is splitting into two opposing camps – a Western bloc led by the United States and the European Union (EU) and an Eastern bloc led by China and Russia. This is according to multiple research papers published by the World Trade Organization (WTO). These papers warn about a worst-case scenario for the […]
04/21/2023
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By Arsenio Toledo
Apple enters the banking sector, offers new savings account with 4.15% interest rate
Apple has partnered with Wall Street giant Goldman Sachs to provide a new savings account that offers a highly competitive 4.15 percent interest rate. The new service, known as the Apple Card, does not require a minimum deposit or balance and can be set up easily from the Wallet app on people’s iPhones. Apple said […]
04/20/2023
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By Arsenio Toledo
Three banks suffer $60 billion in lost deposits as customers run to banks with higher interest rates
Three banks – Charles Schwab, State Street and M&T Bank – suffered nearly $60 billion in combined bank deposit outflows during the first quarter of the year as customers flock to banks that provide significantly higher yields. This is the latest disaster experienced by the American banking sector ever since the collapse of Silicon Valley Bank […]
04/19/2023
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By Arsenio Toledo
Top Bank of England official warns cash is becoming “less usable” as more people opt for digital payments
The deputy governor of the Bank of England, the United Kingdom’s central bank, warned that cash is becoming “less usable” as consumers and retailers alike increasingly reject bank notes and embrace online shopping and digital payment options. This is according to Sir Jon Cunliffe, who noted how online shopping and contactless payment options are becoming more […]
04/19/2023
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By Arsenio Toledo
Rise of remote work and decline of commuters contributing to San Francisco’s “urban doom loop”
San Francisco is in an “urban doom loop” caused by the disappearance of thousands of workers from the city due to remote work or work from home arrangements, and this death spiral will continue to make the city fall into economic and social ruin. Experts have noted how a massive assortment of problems has come […]
04/18/2023
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By Arsenio Toledo
Major retailers will keep shutting down their stores until organized retail crime gets under control
The country’s major retailers are shutting down stores all over the country, especially in the United States’ major urban areas where retail crimes are rampant. Chicago became the latest to experience retail closures when Walmart announced that it was shutting down four of its eight locations there – mostly located in the city’s exceptionally crime-ridden south and […]
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