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News & Articles By Kevin Hughes
06/24/2022
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By Kevin Hughes
International Energy Agency head tells EU: Prepare for Russian gas shutdown
International Energy Agency (IEA) Executive Director Fatih Birol has warned the European Union (EU) to be prepared for the likelihood of a total shutdown of Russian gas exports this coming winter. “Europe (sic) should be ready in case Russian gas is completely cut off. The nearer we are coming to winter, the more we understand Russia’s […]
06/20/2022
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By Kevin Hughes
Elon Musk hit with $258 billion lawsuit over alleged dogecoin cryptocurrency pyramid scheme
Businessman Elon Musk was hit with a $258 billion lawsuit that claims the tech tycoon and his well-known companies are involved in a dogecoin cryptocurrency pyramid scheme. In federal court papers filed in Lower Manhattan in New York, complainant Keith Johnson named Musk along with his electric car company Tesla and his space tourism corporation SpaceX in […]
06/16/2022
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By Kevin Hughes
Frenzied hedge fund selling erupts right before Fed raises interest rates
Hedge funds tracked by Goldman Sachs Group Inc. offloaded U.S. equities for a seventh straight day Monday, June 13, as the equity rout worsened amid concerns that the Federal Reserve will need to rush its inflation-fighting campaign at the risk of causing an economic recession. Those concerns were not unfounded as the Federal Reserve on Wednesday, June […]
06/16/2022
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By Kevin Hughes
Gas prices continue to soar, up nearly $2 dollars per gallon from last year
The national average of gas prices hit a record high of $5.01 per gallon Sunday, June 12. That represents an increase of 16 cents from last week’s average as summer rolled in and Americans started driving more for vacations, trips and outings. According to the American Automobile Association (AAA), the national average for a gallon of gas […]
06/10/2022
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By Kevin Hughes
World’s largest NFT marketplace OpenSea finds itself in the middle of thefts and lawsuits
OpenSea is an eBay-like site where people can look around for millions of nonfungible tokens or NFTs, purchase the images and put their own up for sale. In the past 18 months, OpenSea has become the leading and the largest NFT marketplace in the world. One of the foremost crypto start-up companies, it has produced […]
06/08/2022
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By Kevin Hughes
BardsFM host Scott Kesterson: Americans will witness complete and total collapse of the economic system – Brighteon.TV
“BardsFM” host Scott Kesterson warned his viewers that a complete and total collapse of the economic system is coming soon. “We are in a place right now of constant and steady decline. We have seen what is going on right now around us. And eventually, we will witness a complete and total collapse of our system. […]
06/02/2022
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By Kevin Hughes
Home sellers reduce prices as housing market cools off
Many home sellers are cutting their prices as the housing market finally cools off following a scorching pandemic run. Nearly one in five sellers reduced prices during the four week period that ended May 22, real estate brokerage Redfin Corp. said in a report. That represents the highest rate of home sellers reducing their prices since October 2019. Other […]
05/26/2022
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By Kevin Hughes
Consumer stocks lose $550 billion in market value as rising costs and bloated inventories push retailers into the red
Some $550 billion in market value was wiped out from consumer stocks over a five-day stretch last week, increasing the downward pressure on a market already stressed by fear of inflation and soaring interest rates. “It has been an absolute bloodbath for retail. To a certain extent, I think that’s the rebalancing of expectations, and […]
05/20/2022
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By Kevin Hughes
Domino effect: TerraUSD collapse sends Bitcoin, Ethereum crashing
A recent market meltdown in the broader crypto market has cryptocurrencies like Bitcoin and Ethereum suffering huge losses. The massive meltdown was caused by the collapse of TerraUSD, one of the world’s biggest stablecoins. TerraUSD traded for as low as 23 cents amid panic selling and triggered a meltdown that sent cryptocurrency values plummeting. (Related: “Stablecoins” Terra and Luna crater, […]
05/10/2022
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By Kevin Hughes
Inflation expected to persist in India despite surprising rate hike by its central bank
India’s central bank raised its key policy rate for the first time since June 2018, a surprising move that led to an extensive selloff in bonds. But an economist expects the inflation to continue at least until the end of the year. Upasana Bhardwaj, senior economist at Kotak Mahindra Bank, said in an interview with […]
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