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News & Articles By Arsenio Toledo
12/14/2022
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By Arsenio Toledo
Demand for electric cars in the UK plummets due to surging price of electricity
Demand for electric vehicles (EVs) in the United Kingdom has dropped for the first time since 2020 as soaring electricity costs make the vehicles far too costly to operate. British automobile sales website Auto Trader noted that EVs accounted for less than a fifth (19 percent) of new car inquiries sent to car dealers through its online […]
12/14/2022
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By Arsenio Toledo
Bahamian government wants to take back $256 million-worth of luxury properties bought by FTX executives (with other peoples’ money)
Lawyers in the Caribbean archipelagic nation of the Bahamas say FTX founder and CEO Sam Bankman-Fried and co-CEO Ryan Salame spent $256.3 million buying different properties in the country. Now, regulators want all of these properties returned to the state. The Bahamian officials went to a federal court in Delaware asking the court to dismiss FTX’s […]
12/14/2022
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By Arsenio Toledo
Foxconn spends $500 million to expand manufacturing in India, reduce reliance on tumultuous iPhone plant in China
Taiwan’s Foxconn Technology Group has just announced a $500 million investment to expand its operations in India as it seeks to diversify its supply chain after labor unrest in its massive plant in Zhengzhou, China, disrupted manufacturing. Foxconn is one of the largest electronics contract manufacturers in the world. Its plant in Zhengzhou, known as […]
12/13/2022
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By Arsenio Toledo
Bored Ape Yacht Club NFT investors suing celebrity promoters for misleading and fraudulent endorsements of the failed product
A-list celebrities, including television host Jimmy Fallon, actress Gwyneth Paltrow and singer Justin Bieber, have been sued in a class action suit accusing them and other celebrities of fraud after they promoted Bored Ape Yacht Club (BAYC) non-fungible tokens (NFTs). The suit claims that celebrities, which also include pop singer Madonna and socialite Paris Hilton, pumped up […]
12/08/2022
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By Arsenio Toledo
Volkswagen reconsidering plans to build new EV battery plants in Europe due to soaring energy costs
Automobile manufacturing giant Volkswagen has warned the European Union (EU) that soaring energy costs make building new electric vehicle battery production plants “practically unviable” in the continent. Volkswagen has been talking about committing to investing in Germany and EU industrial projects involving electric vehicles, including new battery-cell factories. Unfortunately, the company warned that such long-term investments will […]
12/08/2022
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By Arsenio Toledo
China loads up on gold reserves with recent “mystery” purchase of 300 TONS
China has reported an increase in its gold reserves for the first time in more than three years, essentially admitting that its central bank is one of the recent mystery buyers of massive amounts of bullion in the gold market. The gold industry has speculated over which central banks were behind the nearly 400 tons of […]
12/06/2022
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By Arsenio Toledo
Apple speeds up plans to shift production OUT OF CHINA
Tech giant Apple has accelerated its plans to shift more of its manufacturing outside of China. China has long dominated the supply chain of Apple, the world’s most valuable company. But in the wake of the turmoil in China, Apple executives want this to change. Currently, Apple is heavily reliant on Taiwanese iPhone assemblers led […]
12/06/2022
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By Arsenio Toledo
Crypto stocks PLUMMET: Industry nearing collapse as financial analysts warn most crypto firms unlikely to survive long-term
Stocks for companies in the cryptocurrency industry have plummeted. Analysts and investors still can’t figure out when this downfall will bottom out, but many of them believe that most crypto firms are unlikely to survive long-term. Publicly-traded cryptocurrency companies like Coinbase Global Inc., Galaxy Digital Holdings Ltd. and MicroStrategy Inc. all had their stocks plummet in […]
12/05/2022
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By Arsenio Toledo
Crypto expert: FTX collapse marks end of “cryptographic scam” that involves worthless crypto coins gaining immense value
Cryptocurrency industry journalist and expert Max Keiser called FTX’s collapse the end of a “cryptographic scam.” Cryptocurrency exchange platform FTX recently filed for bankruptcy, costing investors up to $2 billion, after a liquidity crisis that exposed all of former CEO Sam Bankman-Fried’s illicit dealings, including his donations to the Democratic Party and its pet causes. […]
12/02/2022
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By Arsenio Toledo
Bank customers FURIOUS after HSBC announces closure of 114 UK branches
International banking giant HSBC has announced that 114 of its branches in the United Kingdom will be closing beginning on April 2023, drawing fury and disappointment from the bank’s many customers. HSBC’s recent announcement is just the latest in a series of bank closures that have occurred in the U.K. since 2020. Earlier this year, […]
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