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News & Articles By Arsenio Toledo
08/11/2022
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By Arsenio Toledo
Fed study: Ending pandemic-era government handouts led to massive increase in EMPLOYMENT
A study conducted by the Federal Reserve Bank of St. Louis in Missouri has found that states that ended their pandemic-era unemployment aid early saw “a substantial rise” in employment. The study used data from 46 states and Washington, D.C. It found that, in the three months following a state terminating its emergency unemployment benefits (EUB), […]
08/09/2022
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By Arsenio Toledo
Inflation is making nearly 100 million Americans cut back on what they would normally spend on healthcare
Rising healthcare costs caused by President Joe Biden’s inability to get inflation under control is forcing more Americans to cut back on what they spend on healthcare. A new survey conducted by Gallup found that about 38 percent of Americans – which translates to an estimated 98 million people – said rising healthcare prices have caused them […]
08/04/2022
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By Arsenio Toledo
Solana blockchain targeted in cyberattack, hackers stole $5.2 million worth of crypto assets from around 8,000 wallets
Approximately 8,000 digital wallets connected to the blockchain platform Solana have been targeted by hackers, who have drained them of over $5.2 million worth of digital assets – including the platform’s own sol coin, USD Coin (USDC) and a small number of non-fungible tokens. According to Twitter account Solana Status, which provides status updates for the Solana […]
08/04/2022
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By Arsenio Toledo
Senate introduces bill to classify bitcoin, ether as commodities under the regulatory authority of CFTC
A bipartisan group of United States senators has introduced a bill that would classify bitcoin and ether as digital commodities and would make the Commodity Futures Trading Commission (CFTC) the direct regulator of the world’s two biggest cryptocurrencies. The proposed bill was introduced by Senate Agriculture Committee Chairwoman Debbie Stabenow, a Democrat from Michigan, and Committee Ranking […]
08/03/2022
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By Arsenio Toledo
Robinhood fires nearly a quarter of its employees as crypto collapse diminishes company earnings
Robinhood fired nearly a quarter of its employees a day before the company reported dismal quarterly earnings due to the collapse of cryptocurrency values. The financial services company’s easy-to-use platform made it notorious early last year when many young investors trading from home participated in the GameStop stock short squeeze. Robinhood’s platform has been used since […]
08/03/2022
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By Arsenio Toledo
More high-income Americans are shopping at discount stores due to unrelenting inflation
The inflation crisis gripping the United States has become so devastating that even Americans in higher income brackets are heading to discount stores to save on groceries. According to the Consumer Price Index of the Bureau of Labor Statistics (BLS), the index figures for June gauging how much eating at home costs has risen by 12.2 percent […]
08/02/2022
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By Arsenio Toledo
German government announces gas levy that could triple household heating bills
The German government is warning gas consumers to prepare for household heating bills to triple as it institutes a gas levy starting in October. According to a draft law publicized on Thursday, July 28, the government aims to spread out the cost of replacing the gas no longer coming in from Russia among all of the […]
08/02/2022
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By Arsenio Toledo
UK High Court rules against giving control of $1 billion in gold reserves to Venezuela’s Maduro
The United Kingdom has rejected Venezuela’s latest petition to gain control of more than $1 billion of its own gold reserves stored in the Bank of England’s underground vaults in London. The British High Court of Justice in London ruled on Friday, July 29, that a recent ruling by Venezuela’s Supreme Tribunal of Justice (STJ) […]
08/01/2022
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By Arsenio Toledo
China deploys tanks to prevent people from withdrawing savings from troubled banks
The Chinese Communist Party (CCP) has ordered the deployment of tanks in the central province of Henan to prevent people from withdrawing their money from the Bank of China, which wants to turn the savings of depositors into “investment products.” Henan’s Bank of China branches collaborated with the CCP to prevent depositors from withdrawing their savings […]
07/31/2022
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By Arsenio Toledo
Initial unemployment claims remain high as recession fears affect labor market
Unemployment claims for the fourth week of July fell slightly, but remain higher than expected, indicating that employers remain hesitant to fill their vacancies due to fears of a recession. According to a report released by the Department of Labor, the seasonally adjusted initial unemployment claims for the week ending July 23 was 256,000. This is […]
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