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News & Articles By Cassie B.
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 […]
12/12/2022
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By Cassie B.
As home prices drop, 270,000 Americans who bought homes this year are already underwater on their mortgage
A new report shows that roughly 270,000 individuals who purchased a home during this year’s red-hot housing market are already underwater on their mortgage, meaning they owe more money than their house is worth. Mortgage software data and analytics company Black Knight revealed that of the 450,000 underwater borrowers noted during the third quarter, 60 […]
11/21/2022
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By Cassie B.
Crypto lender BlockFi pauses customer withdrawals as it considers bankruptcy and layoffs following FTX implosion
Crypto lender BlockFi has put customer withdrawals on hold as it explores its options for reducing its “significant exposure” in the fallout of cryptocurrency exchange FTX’s bankruptcy. This summer, BlockFi obtained a $250 million loan from FTX to help them stay afloat as crypto financial institutions such as Three Arrows Capital struggled during the market […]
11/18/2022
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By Cassie B.
US to extradite embattled FTX ex-CEO Sam Bankman-Fried from Bahamas
The founder of crypto exchange FTX, Sam Bankman-Fried, is expected to be extradited from the Bahamas back to the U.S. as $2 billion of clients’ money remains unaccounted for. This is according to a report from Bloomberg, which says that authorities in the U.S. and the Bahamas have been discussing extraditing him for questioning. Bankman-Fried […]
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