marketcrash
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News & Articles By Arsenio Toledo
12/21/2022
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By Arsenio Toledo
Bankrupt meat importer owes millions to at least 99 creditors in transportation and logistics
South American Beef, Inc., a frozen meats importer based out of West Des Moines, Iowa, has filed a petition with the Southern District Court of Iowa to receive Chapter 11 bankruptcy protections. The company was founded in 1999 and sold products under vendor brands as well as its own Prairie Natural brand. Its specialty is […]
12/21/2022
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By Arsenio Toledo
Coming economic collapse will be used to close banks and introduce central bank digital currencies
The coming global economic collapse will come with it the quick adoption of central bank digital currencies (CBDCs) around the world This is according to Clive Thompson, former managing director at Union Bancaire Privee, a private bank and wealth management firm in Geneva, Switzerland. He warned that this coming global financial crisis will start in one country and spread […]
12/20/2022
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By Arsenio Toledo
Investors are leaving the cryptocurrency industry en masse as collapse continues
More investors are leaving the cryptocurrency industry as the values of crypto assets continue their freefall. Cryptocurrency fund asset managers saw their investors withdraw $20 billion worth of assets from the crypto industry in November. This accounts for nearly 15 percent of total crypto assets under management (AUM), bringing the collective AUM of crypto fund […]
12/16/2022
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By Arsenio Toledo
Federal Reserve once again raises interest rates, Fed chair warns of more rate hikes next year
Federal Reserve Chair Jerome Powell warned that the central bank will continue raising interest rates next year just as it raised its benchmark interest rate to the highest level in 15 years. Powell claimed that if the Fed does not continue raising interest rates in 2023, Americans will have to pay a higher cost as […]
12/14/2022
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By Arsenio Toledo
Demand for electric cars in the UK plummets due to surging price of electricity
Demand for electric vehicles (EVs) in the United Kingdom has dropped for the first time since 2020 as soaring electricity costs make the vehicles far too costly to operate. British automobile sales website Auto Trader noted that EVs accounted for less than a fifth (19 percent) of new car inquiries sent to car dealers through its online […]
12/14/2022
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By Arsenio Toledo
Bahamian government wants to take back $256 million-worth of luxury properties bought by FTX executives (with other peoples’ money)
Lawyers in the Caribbean archipelagic nation of the Bahamas say FTX founder and CEO Sam Bankman-Fried and co-CEO Ryan Salame spent $256.3 million buying different properties in the country. Now, regulators want all of these properties returned to the state. The Bahamian officials went to a federal court in Delaware asking the court to dismiss FTX’s […]
12/14/2022
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By Arsenio Toledo
Foxconn spends $500 million to expand manufacturing in India, reduce reliance on tumultuous iPhone plant in China
Taiwan’s Foxconn Technology Group has just announced a $500 million investment to expand its operations in India as it seeks to diversify its supply chain after labor unrest in its massive plant in Zhengzhou, China, disrupted manufacturing. Foxconn is one of the largest electronics contract manufacturers in the world. Its plant in Zhengzhou, known as […]
12/13/2022
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By Arsenio Toledo
Bored Ape Yacht Club NFT investors suing celebrity promoters for misleading and fraudulent endorsements of the failed product
A-list celebrities, including television host Jimmy Fallon, actress Gwyneth Paltrow and singer Justin Bieber, have been sued in a class action suit accusing them and other celebrities of fraud after they promoted Bored Ape Yacht Club (BAYC) non-fungible tokens (NFTs). The suit claims that celebrities, which also include pop singer Madonna and socialite Paris Hilton, pumped up […]
12/11/2022
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By Arsenio Toledo
Egypt joins BRICS-owned New Development Bank, expresses interest in becoming full-fledged member of BRICS
Egypt has officially become the newest member of the New Development Bank (NDP), the international development bank of the BRICS organization. BRICS (Brazil, Russia, India, China, South Africa) established the NDB in 2014 to support sustainable development projects and enhance regional cooperation and integration by providing investments to BRICS member states and other emerging economies. […]
12/08/2022
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By Arsenio Toledo
Volkswagen reconsidering plans to build new EV battery plants in Europe due to soaring energy costs
Automobile manufacturing giant Volkswagen has warned the European Union (EU) that soaring energy costs make building new electric vehicle battery production plants “practically unviable” in the continent. Volkswagen has been talking about committing to investing in Germany and EU industrial projects involving electric vehicles, including new battery-cell factories. Unfortunately, the company warned that such long-term investments will […]
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