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News & Articles By Arsenio Toledo
10/28/2022
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By Arsenio Toledo
Energy executives tell Sec. Granholm: Shuttered oil refineries are NOT restarting soon
Some of the United States’ leading energy executives have spoken with Secretary of Energy Jennifer Granholm, warning her and the administration that many shuttered oil refineries won’t be restarting soon. Reuters reported that the energy executives met with Granholm in the White House on Tuesday, Oct. 25. One of the attendees is Joe Gorder, president […]
10/28/2022
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By Arsenio Toledo
Weakening dollar leading to more oil exports and price hikes
Oil prices in the United States are continuing to rise as the dollar weakens and the White House exports more and more crude oil and fuel. From Tuesday, Oct. 25, to Thursday, Oct. 27, oil prices in America rose following reports that the White House has been exporting record levels of crude oil and fuel. […]
10/21/2022
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By Arsenio Toledo
Fed interest rate hikes lead to rising fears of mortgage debt defaults, real estate collapse and recession
Fears are rising that the Federal Reserve’s relentless interest rate hikes could cause mortgage debts to default, prompting many investors to divest from their support for mortgage-backed securities. These fears are combined with rising mortgage rates, which have already hit a two-decade high of 6.92 percent. With the decrease in affordability comes the heightened risk […]
10/20/2022
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By Arsenio Toledo
Johnson & Johnson sells its largest manufacturing plant in India
Big Pharma company Johnson & Johnson has sold its largest manufacturing plant in India as demand for the company’s goods weakens. The 55.27-acre plant in Penjerla in the southern state of Telangana was completed in 2016. It was meant to produce a variety of consumer health goods, including skin care products, earbuds, electrolyte drinks, oral […]
10/18/2022
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By Arsenio Toledo
Mississippi River drought wreaks havoc across America’s supply chains
Drought conditions all along the Mississippi River are causing barges and other ships to get stuck at certain junctions of the river, clogging up a critical artery in the American supply chain. The low water is caused by a lack of rain in the Ohio River Valley and the Upper Mississippi. It has halted commercial […]
10/18/2022
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By Arsenio Toledo
Probability of a recession hitting the US within 12 months reaches 100%, warn economists
A new model projection from Bloomberg Economics predicts a recession in the next 12 months with 100 percent certainty, a blow to President Joe Biden’s economic messaging ahead of next month’s midterm elections. The latest recession probability models were done by Bloomberg economists Anna Wong and Eliza Winger. They believe there is a 100 percent […]
10/13/2022
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By Arsenio Toledo
Europe to feel impact of turning away from cheap, plentiful Russian energy
Moscow has warned that the European Union’s (EU) decision to turn away from Russian energy will lead to “very deplorable consequences” that will be felt for decades. Speaking to Russia-1, Kremlin Press Secretary Dmitry Peskov warned that Europe attempting to reduce its reliance on Russian energy imports could lead to their deindustrialization for up to 20 years. (Related: […]
10/11/2022
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By Arsenio Toledo
GREAT RESIGNATION: Number of unemployed Americans who voluntarily left their jobs to look for better work reaches 32-year high
The latest jobs report from the Bureau of Labor Statistics (BLS) shows that the Great Resignation is far from over, and millions of Americans are still voluntarily leaving their jobs. According to the report, the number of unemployed Americans who quit or otherwise voluntarily left their jobs and immediately began looking for new employment rose to 15.9 […]
10/11/2022
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By Arsenio Toledo
Turkish annual inflation jumps to 83.45% due to excessive government spending on welfare and the military
The annual inflation rate for Turkey climbed to a 24-year record-high of 83.45 percent in September, according to data from the Turkish Statistical Institute. This broke the record set in August, when year-over-year inflation hit 80.21 percent. It also marked the 11th consecutive month of uncontrollable inflation. The last time inflation in Turkey was this high was […]
10/11/2022
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By Arsenio Toledo
Israel, Norway and Sweden to test central bank digital currencies for cross-border transactions
The central banks of Israel, Norway and Sweden have signed up to a Bank of International Settlements-led (BIS) project that will test the feasibility of using central bank digital currencies (CBDCs) for cross-border payments. Known as Project Icebreaker, it will enable fast international transactions using CBDCs at a significantly lower cost compared to existing systems […]
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