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News & Articles By Ava Grace
11/25/2024
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By Ava Grace
Credit card debt hits record $1.17 trillion, New York Fed research shows
Household debt in the United States grew by another $147 billion over the third quarter of 2024, with credit card debt being one of the leading drivers of the new debt. This is according to the Quarterly Report on Household Debt and Credit from the Federal Reserve Bank of New York’s Center for Microeconomic Data, […]
11/19/2024
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By Ava Grace
DNA testing giant 23AndMe terminates 40% of its workforce amid falling revenues
DNA-testing giant 23AndMe is laying off 40 percent of its workforce, amounting to about 200 employees who will soon be out of a job. The company will also be discontinuing its therapeutics division as it struggles to slash costs amid rising operational expenditures. In a prepared statement, 23AndMe CEO and co-founder Anne Wojcicki said the […]
11/13/2024
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By Ava Grace
DEBT BOMB: Federal government borrowed $255 BILLION in October
The latest report from the nonpartisan Congressional Budget Office notes that the government of the United States borrowed $255 billion in October. The federal government’s massive borrowing and budget deficits are expected to strain the prospects of President-elect Donald Trump quickly turning around the U.S. economy and affect the country’s competitiveness in global markets. “There’s a fiscal storm on […]
11/06/2024
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By Ava Grace
Casual restaurant chain TGI Fridays files for BANKRUPTCY
Casual restaurant chain TGI Fridays has filed for Chapter 11 bankruptcy, the latest of many restaurants raising the white flag. The Associated Press (AP) reported that the Dallas-based chain filed for bankruptcy in a Texas federal court on Saturday, Nov. 2. TGI Fridays Executive Chairman Rohit Manocha said in a statement that the restaurant’s financial […]
11/05/2024
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By Ava Grace
PepsiCo to shut down four bottling plants and cut over 400 jobs
International beverage and snacks giant PepsiCo has announced its plans to shut down four bottling plants in the United States, laying off nearly 400 workers. The New York-based company said it will be closing bottling plants in Cincinnati, Chicago, Atlanta and Harrisburg, Pennsylvania in an effort to streamline its operations. Affected employees will be paid […]
10/29/2024
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By Ava Grace
Denny’s to shut 150 of its most underperforming restaurants in the U.S. by end of 2025
Diner-style restaurant chain Denny’s has announced that it is closing 150 of its lowest-performing restaurants in the United States in an effort to turn around the brand’s flagging sales. About half of the closures will happen this year and the rest in 2025, the company said during a meeting with investors, with the goal of strengthening […]
10/28/2024
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By Ava Grace
STUDY: More American households are living paycheck to paycheck
A Bank of America study has found that more and more American households are living paycheck to paycheck (PTP), including a significant proportion of households that earn six-figures annually. This is far more than the percentage of Americans in dire financial straits five years ago. In a report this month, the bank analyzed internal data to estimate […]
10/24/2024
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By Ava Grace
Gallup poll: Most Americans feel worse off today than four years ago
A new Gallup poll released shows that a majority of Americans feel they are worse off today than they were four years ago. The Gallup survey was a callback to former President Ronald Reagan, who famously asked his opponent, then-incumbent President Jimmy Carter, during a 1980 debate: “Are you better off than you were four […]
10/21/2024
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By Ava Grace
34% of electric car owners in Germany switched back to combustion engine cars this year
Thirty-four percent of all electric car owners in Germany have opted to get rid of their electric vehicles so far this year and instead bought a combustion engine car. This is according to data from Huk-Coburg, Germany’s largest car insurer. The data also shows that the number of EV owners in Germany who switch back to […]
10/18/2024
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By Ava Grace
Hardware store True Value files for BANKRUPTCY, sells business to rival Do It Best
Hardware store True Value has filed for bankruptcy and has agreed to sell its business to rival chain Do It Best. True Value filed for bankruptcy on Oct. 14, indicating total liabilities between $500 million and $1 billion. The company said in court filings that it has succumbed to slumping sales that have affected other […]
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