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News & Articles By Arsenio Toledo
09/28/2021
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By Arsenio Toledo
China’s Central Bank bans all cryptocurrency transactions
China’s central bank has banned all cryptocurrency transactions in the communist nation. In a statement, the People’s Bank of China announced a blanket ban on all cryptocurrency-related exchanges – such as offering trading, order matching, token issuance and derivatives. This ban also prevents any overseas-based cryptocurrency exchanges from providing services in mainland China. “Overseas virtual currency exchanges […]
09/23/2021
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By Arsenio Toledo
Stock markets drop due to concerns over potential collapse of Chinese real estate market
The American stock market is experiencing its biggest drop in nearly a year. The Dow Jones Industrial Average, the S&P 500 and the Nasdaq Composite have all declined by 1.78, 1.7 and 2.19 percent, respectively. This is the stock market’s worst day since Oct. 2020. Economic analysts believe the tumble is due to concerns over China’s real estate […]
09/15/2021
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By Arsenio Toledo
Southeast Asian governments are reopening their economies that were devastated by lockdowns
The nations of Southeast Asia are reopening their economies that were devastated by their ill-advised Wuhan coronavirus (COVID-19) lockdowns. Officials in many of the region’s governments are all pushing forward with their plans to reopen their economies after spending the last few weeks or even months keeping most businesses closed and millions of families unable […]
09/13/2021
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By Arsenio Toledo
Argentina bans beef exports in attempt to control record-high levels of food inflation
Argentina is temporarily halting its export of beef in an unorthodox move to try to contain runaway inflation in the country. Economists say this will only lead to higher levels of inflation in the long run. According to a statement released by the country’s Ministry of Productive Development, this decision was first announced when President Alberto […]
09/13/2021
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By Arsenio Toledo
Welfare fraud: 8 men in New York City steal over $2 million in coronavirus relief, gets caught after flaunting it on social media
A group of young men in New York City has been charged with allegedly stealing over $2 million in Wuhan coronavirus (COVID-19) relief funds from other people in the assistance program. They were caught after posting pictures of themselves on social media with the stolen cash. The eight young men, between the ages of 18 and 25, funneled the […]
09/09/2021
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By Arsenio Toledo
US will default on national debt by October, warns Treasury secretary
Secretary of the Treasury Janet Yellen has warned that the United States is on track to default on the national debt by October if the government does not do anything to raise the debt limit. On Wednesday, Sept. 8, Yellen sent a letter addressed to House Speaker Nancy Pelosi, House Minority Leader Kevin McCarthy, Senate […]
08/12/2021
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By Arsenio Toledo
Democratic Senate passes provision in infrastructure bill that expands government surveillance on cryptocurrency
As part of its recently-passed $1 trillion infrastructure bill, the Democrat-controlled Senate has included a provision that will allow the government to expand financial surveillance on cryptocurrency. The cryptocurrency provision does several things to extend government oversight over cryptocurrencies. One of its first provisions is to extend certain bank reporting laws to crypto transactions that […]
08/07/2021
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By Arsenio Toledo
Americans are taking on more debt than they can handle, most of it going to mortgages
Americans are taking on more debt than they will ever be able to handle. The Federal Reserve reported on Tuesday that in the second quarter of this year, household debt ballooned to $14.96 trillion. Total household liabilities in the United States increased by $313 billion from three months earlier, the largest single increase in household debt in 14 […]
07/28/2021
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By Arsenio Toledo
US companies continue increasing prices of their products, fueling record levels of inflation
Corporations in the United States are still increasing the prices of their products, fueling inflation the likes of which the country has not seen in over a decade. The price increases are occurring due to the rising costs for materials, transportation of goods and labor. To keep their profit margins, companies have to increase the […]
05/17/2021
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By Arsenio Toledo
Florida McDonald’s forced to pay applicants $50 just to show up to interview because unemployment benefits are more lucrative
Due to a serious labor shortage in his restaurants, the owner of a McDonald’s franchise in Tampa, Florida, said he is willing to pay people $50 just to show up for a job interview. Despite this incentive, he is still struggling to find applicants for his store because people make more money from unemployment benefits. Blake […]
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