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News & Articles By Cassie B.
01/23/2023
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By Cassie B.
Microsoft to cut 10,000 jobs in latest Big Tech layoffs
Microsoft has joined a wave of other tech companies in announcing mass layoffs, cutting around five percent of its overall workforce. A securities filing last week noted that they would be laying off 10,000 employees as part of a range of measures aimed at cutting costs in the wake of economic uncertainty. Ahead of the […]
01/18/2023
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By Cassie B.
DirecTV announces layoffs of hundreds of managers after large drop in subscribers
Satellite TV provider DirecTV has announced that it will be laying off hundreds of managers in response to the cord cutting trend that has seen countless customers abandon its platform in favor of alternative methods of TV viewing. The cuts will amount to around 10 percent of their current management, with management at DirecTV somehow […]
01/16/2023
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By Cassie B.
Tesla announces $775 million investment in Texas Gigafactory, slashes prices on EVs
Just days after Tesla announced significant price cuts on its electric vehicles, the company announced a big investment in its Gigafactory in Austin, Texas. The automaker has unveiled a $775.7 million plan that will see four new buildings being constructed at the site, where it currently produces electric vehicles and their batteries. The new facilities […]
01/10/2023
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By Cassie B.
Swiss National Bank posts stunning $143 billion loss
This week, the Swiss National Bank posted a staggering annual loss of 132 billion Swiss francs last year. This equals around $143 billion and marks the largest loss in its 116-year history. Several factors contributed to the loss, including dropping stock and fixed income markets and a strengthening Swiss franc. The provisional figure is a […]
12/31/2022
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By Cassie B.
ROBBERY: Local governments loot home equity from homeowners to cover property tax debts
We all know that failing to pay your taxes can have repercussions, but you may be surprised to learn that 12 states regularly seize dramatically more than what they are owed by homeowners who have fallen behind on their property tax payments in a practice that has been termed “home equity theft.” A new report […]
12/31/2022
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By Cassie B.
FTX used $200 million of customer deposits to fund venture deals
FTX diverted $200 million worth of customer deposits to fund a pair of venture deals in a move that caught the attention of the Securities and Exchange Commission. In March, the cryptocurrency firm reportedly invested $100 million through its FTX Ventures unit in the fintech company Dave, which had just gone public a few months […]
12/30/2022
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By Cassie B.
Cryptocurrency firm Midas Investments closes platform following losses in wake of FTX collapse
The crypto firm Midas Investments, which was focused on DeFi yields, will be closing down its platform in the wake of considerable losses it experienced throughout the year. The news was announced by the investment firm’s CEO and founder, Trevor Levin, in a blog post. He noted that Midas’s DeFi portfolio sustained $50 million in […]
12/22/2022
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By Cassie B.
UPS and FedEx expected to raise shipping rates by as much as 10% next year
Shipping costs are expected to rise by 8 to 10 percent next year at the nation’s two biggest package delivery companies, UPS and FedEx. This is according to a recent report by the shipping consultancy TransImpact, who is predicting that despite the increases, there will be very little difference between the prices offered by the […]
12/19/2022
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By Cassie B.
Americans falling behind on credit card and loan payments as inflation persists
As inflation and the price of consumer goods continue to rise, reports indicate that American consumers are poised to fall behind on credit card and personal loan payments at the highest rate in more than a decade. The credit reporting agency TransUnion is warning that credit card delinquency rates, which have hovered close to the […]
12/15/2022
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By Cassie B.
Electric vehicle push blamed for 1,350 layoffs at Illinois Jeep plant as production moves to Mexico
Stellantis, the company that is behind big car brands like Jeep, Dodge and Fiat, has announced that it will be idling one of its plants in Illinois indefinitely and laying off at least 1200 workers in February. The affected factory is responsible for building Jeep Cherokees, and the company has cited a desire to cut […]
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