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News & Articles By Ramon Tomey
09/02/2022
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By Ramon Tomey
Iran, Russia set to drop US dollar as currency in bilateral trade settlements
Russia and Iran have announced plans to drop the U.S. dollar as a currency in some areas of their trade relations. A report by Russian news agency TASS confirmed this development, quoting remarks made by Central Bank of Iran (CBI) Gov. Ali Saleh Abadi to an Iranian newspaper. “Iran and Russia have already switched to […]
08/25/2022
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By Ramon Tomey
Japan mulls dropping COVID testing requirement for travelers
Japan is considering the abolition of its Wuhan coronavirus (COVID-19) testing requirement for travelers in line with a concurrent plan to increase the amount of tourists entering the country. The South China Morning Post (SCMP) reported that the Land of the Rising Sun is considering a gradual easing of testing requirements. Under current travel rules, […]
08/05/2022
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By Ramon Tomey
Insurance giant GEICO closes down all 38 of its offices in California
Insurance giant Government Employees Insurance Company (GEICO) permanently shuttered 38 of its physical offices in California. The company’s decision to move all operations in the entire Golden State online also left hundreds without a job. GEICO’s move means that while customers in California can still get insurance policies, they will have to use a mobile […]
08/02/2022
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By Ramon Tomey
Americans relying more and more on DOLLAR STORES as inflation worsens
More and more Americans are turning to dollar stores for their food supply as inflation worsens by the day. According to analytics firm InMarket, grocery sales at discount stores such as Dollar Tree and Dollar General spiked 71 percent between October 2021 and June 2022. Conversely, sales of the same items in grocery stores dropped […]
07/29/2022
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By Ramon Tomey
Germans warned of toilet paper SHORTAGE as energy crisis forces paper mills to shut down
Germany may face a shortage of toilet paper and other paper products as energy shortages in the country forced paper mills to stop operating. German news outlet Zeit Online reported on July 27 that toilet paper, cardboard and other products may be unavailable in stores if the supply of Russian natural gas dwindles in the […]
07/28/2022
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By Ramon Tomey
Protests rock Argentina as socialist government cuts subsidies
Protests erupted in the South American nation of Argentina over its government’s decision to cut government subsidies. The government led by President Alberto Fernandez had previously slashed subsidies in the energy sector based on household income in June. However, plans to extend these subsidy cuts to other programs did not sit well with Argentinians – […]
07/28/2022
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By Ramon Tomey
Germany on the cusp of RECESSION following Nord Stream gas flow reductions
Germany is now teetering close to a recession, as reflected by a survey measuring business confidence in the country. The Ifo Institute for Economic Research’s Business Climate Index (BCI), which measures business sentiment in Germany, fell to 88.6 in July from 92.2 the previous month. The Munich-based think tank’s index, which polls 9,000 managers across […]
07/25/2022
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By Ramon Tomey
Analysis: Dollar stores are WINNING as Americans lose to inflation
As higher prices of everyday goods eat away at Americans’ earnings, a report found that dollar stores are seeing more and more patrons looking to stretch their budgets further. According to the latest data from foot traffic analytics company Placer.ai, visits to dollar stores went up by 13.2 percent between the first (Q1) and second […]
07/24/2022
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By Ramon Tomey
Beijing deploys TANKS to quell angry depositors wanting to withdraw their savings
The Chinese government has deployed tanks on the streets to quell angry citizens wanting to withdraw their savings. In a scene resembling the infamous Tiananmen Square protests and subsequent massacre in 1989, Beijing sent tanks from the Chinese People’s Liberation Army (PLA) to patrol the streets of Henan province as protesters clashed with law enforcement. Depositors, […]
07/21/2022
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By Ramon Tomey
EU energy firms racking up more DEBT to offset exorbitant energy costs
As energy prices continue their ascent, energy firms in the European Union (EU) are taking on more debt to offset these costs. Bloomberg reported on July 18 that the companies’ overall debt has jumped by more than half since the pandemic’s onset in early 2020. The total amount of debt now stands at €1.7 trillion ($1.74 trillion). Furthermore, […]
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