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News & Articles By Arsenio Toledo
12/02/2022
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By Arsenio Toledo
Fed chair says China’s zero-COVID policy damages global supply chain
China’s extreme and repressive Wuhan coronavirus (COVID-19) restrictions have affected the American economy by harming global supply chains, said Federal Reserve Chairman Jerome Powell. The Fed chair added that when certain regions or cities in China initiate full shutdowns, if those areas are deeply connected to the global economy, supply chains become “less efficient, less […]
12/01/2022
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By Arsenio Toledo
Tech layoffs nearing levels not seen since the Great Recession
The number of people fired from Big Tech companies this year is nearing annual levels not seen since the Great Recession. The worsening economic situation in the United States has made Big Tech companies turn to mass layoffs as a way of making sure their profit margins remain stable. In November alone, more than 50,000 workers […]
12/01/2022
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By Arsenio Toledo
IMF chief wants the Federal Reserve to keep raising interest rates
International Monetary Fund Managing Director Kristalina Georgieva has told the Federal Reserve that it should not slow down its interest rate hikes, which the central bank is doing in its mistaken belief that it will tame soaring inflation. This is in response to a recent statement made by Fed Chair Jerome Powell saying the Fed […]
12/01/2022
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By Arsenio Toledo
Chaos in China: Rushed exit from zero-COVID strategy could COLLAPSE Chinese economy
The Chinese Communist Party (CCP) is currently struggling to deal with nationwide protests over its Wuhan coronavirus (COVID-19) lockdown policies. This tumult has caused the country’s economy to drop, with Goldman Sachs warning that a rushed exit from its zero-COVID strategy could spell doom for the Asian giant. The current protest wave in China was […]
11/30/2022
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By Arsenio Toledo
World’s largest bitcoin trust refuses to share proof of reserve audit
Grayscale, the world’s largest bitcoin trust, is refusing to provide proof of reserve audit amid concerns from investors that the company may be affected by the FTX fiasco. Following the implosion of FTX earlier this month and its subsequent bankruptcy proceeding exposing the depths of the company’s mishandling of customer finances, multiple cryptocurrency companies have jumped […]
11/29/2022
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By Arsenio Toledo
Black Friday online sales hit new record-high of $9.12 billion despite high inflation
American consumers spent a record-breaking $9.12 billion on online shopping on Black Friday. This was according to Adobe Analytics, the data and insight research arm of Adobe Inc, which tracks e-commerce growth by analyzing transactions on the websites of American retailers. Adobe Analytics has access to data covering approximately 85 percent of the top 100 […]
11/29/2022
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By Arsenio Toledo
Mississippi-based furniture manufacturer fired 2,700 workers through texts and emails days before Thanksgiving
One of the largest furniture businesses in the United States fired around 2,700 workers through texts and emails right before midnight on Nov. 21 and in the early morning hours of Nov. 22, while many were still sleeping. United Furniture Industries, based out of Mississippi, sent the messages to its workers, most of whom live in […]
11/23/2022
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By Arsenio Toledo
Fewer Amazon shoppers are satisfied with the company’s services
Recent information from Amazon finds that customer satisfaction has slipped to one of its lowest points since 2000, the year a private firm began tracking consumer enthusiasm for the country’s largest online retailer. Investment banking and financial advisory firm Evercore ISI publishes its yearly American Consumer Satisfaction Index, which tracks customer approval of more than […]
11/23/2022
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By Arsenio Toledo
FTX collapse fallout: Crypto brokerage firm Genesis warns of possible bankruptcy
Genesis, a digital asset brokerage firm, is reeling from the fallout of FTX’s collapse as it struggles to stave off bankruptcy. The company has warned potential investors that it may need to file for bankruptcy if its efforts to obtain fresh cash for its lending unit fail. “We have no plans to file bankruptcy imminently,” said […]
11/23/2022
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By Arsenio Toledo
Crypto exchange platform Coinbase lost around 85% of its value in one year
Cryptocurrency exchange platform Coinbase has lost around 85 percent of its value since this time last year. Coinbase is one of the largest crypto exchanges by volume in the world, with the company’s year-to-date trading volume as of early November being recorded as over $775 billion, right behind UpBit, OKX and Binance, the latter of which is […]
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