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News & Articles By Mary Villareal
11/17/2021
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By Mary Villareal
Cargo ships now waiting a record 17 days to unload at California ports
As many as 83 ships are anchored outside the ports of Los Angeles and Long Beach, and the wait to unload is now at a record 17 days – double the wait time from just two months ago. California Governor Gavin Newsom is trying to address the bottleneck problems by doubling capacities at the state’s […]
11/12/2021
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By Mary Villareal
Republicans blame Biden’s policies, Democrats as US inflation reaches highest level in over three decades
Republicans blamed President Joe Biden and his fellow Democrats as inflation reached its highest in over three decades. According to the Consumer Price Index (CPI) released on Wednesday, Nov. 10, gas prices jumped 59 percent over the last year while the cost of meat increased 24 percent. Everyday consumer goods rose 6.2 percent in October 2021, which […]
11/10/2021
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By Mary Villareal
Elevated crude prices and uptick in demand cause gasoline prices to reach 7-year high
Gasoline prices in the United States reached a new seven-year high as elevated crude prices and an uptick in demand put upward pressure on prices at the pump. Gasoline demand rose to 9.5 million barrels per day, according to data from the Energy Information Administration (EIA). “The slight increase in demand has contributed to price increases, […]
11/08/2021
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By Mary Villareal
Supply chain disruptions stall global economic recovery
Disruptions to the global value chains have been ongoing since the beginning of the Wuhan coronavirus (COVID-19) pandemic, with factory closures in China at the beginning of 2020, subsequent lockdowns of most countries, congestion in logistics networks for transporting goods, capacity constraints in the face of increasing demand, labor shortages and more. These disruptions have […]
11/05/2021
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By Mary Villareal
Zillow reports loss of $1.4B on flipping houses since 2019 as stock prices plunge
Real estate website Zillow reported losses of up to $1.4 billion on flipping houses since 2019 and had to lay off a quarter of its staff members as stock prices plunge. The company reported that it bought 9,680 houses in the third quarter of the year but sold only 3,032 of them. They also purchased […]
11/04/2021
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By Mary Villareal
Hyperinflation causes Venezuelans to use gold flakes as currency
The Venezuelan government recently took off six zeroes from the bolivar, its hyperinflating currency. What used to be the highest denomination note of one million bolivars, worth less than $0.23, was replaced by a one-bolivar note. At the same time, a 100-bolivar note was introduced as the new highest denomination of the bolivar. It was designed to […]
11/03/2021
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By Mary Villareal
Supply chain execs predict chaotic holiday peak as crisis continue
Supply chain executives are bracing for a chaotic holiday peak as massive e-commerce volume becomes the new normal and persistent lack of truck drivers and other fulfillment workers continue to hurt the supply chain. Last year, the peak holiday season showed U.S. carriers posting similar or slightly better on-time delivery rates compared to the 2019 […]
11/03/2021
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By Mary Villareal
China faces gas shortage as Beijing seeks to conserve coal, diesel and other fossil fuels
Just two days after Beijing imposed price controls on its coal rationing, the country is facing another crisis: gas shortage. Many stations across the country are running out of diesel due to supply constraints. As the Chinese economy aggressively reopened following the Wuhan coronavirus (COVID-19) shutdowns, the supply of fossil fuels started to dwindle amidst […]
11/02/2021
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By Mary Villareal
Shipping rates continue to rise as holiday season nears
Shipping rates continue to rise with no signs of abating soon. While some indexes showed a slight pullback, the hope for any major decline in shipping costs has been pushed back to at least the Chinese New Year in February next year. The S&P Global Platts index for North Asia and West Coast rates was at […]
11/02/2021
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By Mary Villareal
US GDP gain slows down in third quarter as supply chain issues worsen
The United States economy grew at a two percent rate in the third quarter, the slowest since the end of the 2020 recession. This is largely due to supply chain issues marking deceleration in consumer spending that further stunted the expansion, according to the Department of Commerce. It was the slowest gross domestic product (GDP) gain […]
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