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News & Articles By Ava Grace
09/11/2024
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By Ava Grace
Food prices hit RECORD HIGH in July under Biden-Harris administration
Food prices have hit a record high in July under the watch of the Biden-Harris administration. According to the National Pulse, food inflation in July hit an all-time high despite claims from Democrats that inflation had subsided. This translated to Americans “paying more than ever for food at grocery stores and restaurants due to the […]
09/05/2024
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By Ava Grace
Federal judge finds Nigerian fintech Tingo Group guilty of financial fraud
Financial technology company Tingo Group Inc. and its CEO were found liable for fraud by a federal judge after they failed to respond to a Securities and Exchange Commission (SEC) lawsuit accusing them of overstating financial results. The SEC sued Tingo and two related companies in December, alleging they booked billions of dollars in fraudulent transactions through two Nigerian […]
09/04/2024
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By Ava Grace
AND SO IT BEGINS: Swedish fintech company Klarna becomes first to conduct MASS LAYOFF directly linked to AI advancements
Swedish bank and financial technology company Klarna has become the first company to lay off over a thousand workers and utilize artificial intelligence (AI) to replace them. Klarna Founder and CEO Sebastian Siemiatkowski claimed that advancements in AI have given him room to pare down his labor force. He believes the company can function with around half of its […]
08/29/2024
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By Ava Grace
Auto giant Ford scales back EV production due to LOUSY SALES
The Ford Motor Company has scaled back its electric vehicle (EV) production due to lousy sales. On Aug. 21, the automaker said it was scrapping plans for a sizeable all-electric sport utility vehicle (SUV) and delaying production of its all-electric F-150 Lightning pickup truck to the second half of 2027. It also plans to sell […]
08/23/2024
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By Ava Grace
Pharmacy chain Rite Aid suddenly SHUTTING DOWN ALL STORES in Ohio and Michigan
Pharmacy chain Rite Aid has announced plans to close all its stores in Ohio and Michigan, sending customers scrambling to transfer their prescriptions as a result. The drugstore chain once boasted of having more outlets in the country than its rivals, having operated 4,000 drugstores coast to coast in 1999. But 25 years on, Rite […]
08/19/2024
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By Ava Grace
Major U.S. flooring supplier files for BANKRUPTCY and plans to close 94 stores nationwide
A major flooring materials supplier in the U.S. has filed for bankruptcy and plans to close 94 of its locations across the country. The Daily Mail reported that LL Flooring filed for Chapter 11 bankruptcy protection in Delaware on Aug. 11. A Chapter 11 filing allows companies to continue running their business while they work […]
08/15/2024
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By Ava Grace
Germany’s EV sales PLUMMET by almost half in first 6 months of 2024
The sales of electric vehicles (EVs) in Germany have dropped by almost half in the first six months of 2024. The German daily newspaper Die Welt reported on this development, noting that EV sales among private customers in Germany have dropped by 47 percent compared to a year prior. This drop in sales serves as […]
08/14/2024
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By Ava Grace
U.S. credit card debt hits $1.14 TRILLION, with the average balance per consumer now at $6,329
Credit card debt in the U.S. has reached $1.14 trillion for the second quarter of the year. The Federal Reserve Bank of New York (NY Fed) revealed this figure on Aug. 6, noting that this was $20 billion higher than the $1.12 trillion recorded for the first quarter of 2024. A year prior, that figure was $1.03 trillion. Meanwhile, […]
07/28/2024
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By Ava Grace
Israeli tourism industry in collapse as 10% of the country’s hotels at risk of shutting down
About 10 percent of hotels in Israel are at real risk of closing, with many others on the brink of financial collapse, according to a report released by the Israel Hotel Association (IHA), detailing hotel occupancy rates across the country for the first half of the year. “Maintaining the tourism industry is a national interest, […]
07/10/2024
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By Ava Grace
Discount homeware chain Big Lots warns of BANKRUPTCY filing, triggering fears of mass closures
A discount homeware store chain in the U.S. has considered filing for bankruptcy protection, sparking fears of mass store closures. Columbus, Ohio-based Big Lots, which boasts of almost 1,400 stores across the country, is the latest to warn of money problems. The company has told financial regulators that it many not be able to continue […]
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