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News & Articles By Franz Walker
08/22/2020
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By Franz Walker
Lyft, Uber get 11th hour reprieve from California court order demanding they convert all drivers to employees
Ridesharing companies Uber and Lyft have gotten a last-minute reprieve after a California court granted them a delay on the order to convert their drivers – currently classified as independent contractors – to employees. This allows both companies to continue to operate while they appeal the order. The decision came just as Lyft was set […]
08/06/2020
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By Franz Walker
Investors are shunning the dollar and turning to gold
The price of gold hit an all-time high this past Wednesday. A weakening dollar injected new momentum into a rally initially driven by uncertainty about the world economy. Prices of the yellow metal have risen for 13 of the past 14 days. A 1.1 percent gain led it to an all-time high of $2,040 a troy ounce. In […]
08/06/2020
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By Franz Walker
Gold prices could hit $15,000 in 2025 as the dollar continues to fall
Gold prices are at an all-time high thanks to the weakening value of the U.S. dollar. However, experts warn that the price of the yellow metal could increase much further. In a video conference with Kitco News, Euro Pacific Capital CEO Peter Schiff and best-selling author Jim Rickards both think that the rally is far from over. According […]
07/18/2020
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By Franz Walker
Resurgent coronavirus caused consumer sentiment to drop in early July
Consumer sentiment has declined in the first half of July following the reversal of the economic reopenings of several states in the face of a resurgent Wuhan coronavirus (COVID-19) pandemic. The University of Michigan’s Index of Consumer Sentiment slid to 73.2 percent during July’s preliminary reading, down from 78 percent at the end of June. The slump runs […]
07/13/2020
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By Franz Walker
OECD urges governments to scale back coronavirus-related wage subsidies
The Organization for Economic Cooperation and Development (OECD) is now asking governments to stop wage subsidies meant to keep workers employed to encourage these workers to move out of shrinking sectors. This is despite the organization still encouraging governments to continue paying unemployment benefits. Founded in 1961, the 37-member OECD’s job is to stimulate economic progress and world […]
07/09/2020
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By Franz Walker
United Airlines preparing to furlough 36,000 workers due to coronavirus collapse
United Airlines has announced plans to furlough up to 36,000 workers – just under half of its U.S. workforce – due to losses sustained from measures to stem the spread of the Wuhan coronavirus (COVID-19). On Wednesday, the Chicago-based carrier stated that it may furlough up to 15,100 flight attendants, 2,250 pilots, 11,000 airport operations personnel. […]
06/28/2020
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By Franz Walker
Cryptocurrency is dying as young speculators shift to Robinhood and zero-cost trading
Once the darling of daring young investors looking to get into trading on the cheap, cryptocurrency hasn’t really recovered since the 2018 crash. Now, these same investors seem to have found something new to put their money into – Robinhood. With its innovative “zero-cost” trading model, Robinhood has quickly gained a following among young, tech-savvy but […]
06/15/2020
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By Franz Walker
Coronavirus recession will hurt low-income and emerging market economies for years
As the world starts to recoup its losses over the economic carnage brought on by measures to stop the Wuhan coronavirus (COVID-19), it’s becoming clear that recovery will not be easy. A new study from the World Bank states that low-income and emerging market economies will remain deeply damaged five years after the pandemic. The ongoing coronavirus pandemic has already […]
06/14/2020
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By Franz Walker
Jobless claims fraud on the rise as coronavirus boosts unemployment
Authorities have warned that states are being hit with unemployment-benefit fraud amounting to billions of lost dollars. This comes amid historically high levels of jobless claims related to the Wuhan coronavirus (COVID-19) pandemic. “In a large-scale scam erupting in the midst of the Coronavirus pandemic, imposters are filing claims for unemployment benefits, using the names and personal information […]
06/12/2020
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By Franz Walker
PLANNED DESTRUCTION: Coronavirus lockdowns eliminated African American employment gains from the past decade
Efforts to stall the spread of the Wuhan coronavirus (COVID-19) not only brought the economy to a halt, but they also ended what had been the best African American job market on record. The decadelong economic expansion brought with one of the most promising economies for African Americans in recent memory. Not only did their unemployment reach […]
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