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News & Articles By Arsenio Toledo
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 […]
04/17/2023
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By Arsenio Toledo
French constitutional court approves most of Macron’s controversial pension reform bill, including the unpopular retirement age increase
France’s top constitutional court has approved most of the provisions within President Emmanuel Macron’s flagship pension reform bill despite months of protests and widespread dissatisfaction, especially with the proposal to raise the retirement age. The country’s Constitutional Council approved most of Macron’s pension reform provisions, including its core elements such as the increase in the minimum […]
04/12/2023
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By Arsenio Toledo
Walmart to close half of its stores in Chicago due to millions in annual losses (and a collapsing retail economy)
Walmart announced on Tuesday, April 11, that it will be closing four of its eight stores in Chicago as they cost the retail giant millions in annual losses. Collectively, these stores have not been profitable since the first one opened 17 years ago, costing the company “tens of millions of dollars a year” in losses, […]
04/09/2023
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By Arsenio Toledo
Central banks continue their streak of accumulating more gold in 2023
The world’s central banks continued their streak of accumulating gold during the first two months of 2023, according to the latest report from the World Gold Council. Year-to-date, the world’s central banks made a net purchase of 125 tonnes (137.79 tons) of gold. “On a year-to-date basis … this is the strongest start to a year […]
04/07/2023
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By Arsenio Toledo
Recession fears surge as new job creation slows down, jobless claims rise
Investors are once again concerned that the economy of the United States could dip far enough into a recession as recent jobs data shows a slowdown in new job creation and an increase in jobless claims. According to the Department of Labor‘s report, job openings slipped to 9.9 million in February, the lowest since May 2021. This is […]
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