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News & Articles By Mary Villareal
10/14/2022
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By Mary Villareal
Economists warn: IMF, World Bank may have little space to maneuver as they lend record amounts to poorest countries
The International Monetary Fund (IMF) and the World Bank have lent a record amount of money to the world’s poorest countries to help them cope with the pandemic, food inflation and the repercussions of the war in Ukraine. Now, economists are sounding the alarm over concerns that the world’s biggest lenders are stretching themselves too […]
10/11/2022
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By Mary Villareal
Hurricane Ian exposes EV weakness: Lithium batteries are prone to catching fire
Many electric vehicles (EVs) got caught in floods when Hurricane Ian hit Florida. Their lithium batteries, meanwhile, caught fire. “There’s a ton of EVs disabled from Ian. As those batteries corrode, fires start,” tweeted Jimmy Patronis, Florida’s top financial officer and fire marshal. “That’s a new challenge that our firefighters haven’t faced before. At least in this kind of scale.” (Related: LITHIUM […]
10/07/2022
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By Mary Villareal
Americans now forced to dip into their SAVINGS to get by amid worsening inflation
The worsening inflation has forced Americans to dip into their savings to get by, a sign of a bad economy getting worse. Based on a recent survey, two-thirds of Americans now say they are using their saving for daily expenses. The poll came as prices of goods and services recorded the biggest annual increase since […]
10/06/2022
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By Mary Villareal
Austrians reject digital currencies, demand “right to cash payments”
More than half a million Austrians signed a petition calling for a referendum on the government’s decision to enshrine their right to unlimited cash payments. Austria, a country of 8.9 million, showed massive support for the right to pay with cash, demonstrating the growing movement against digital currencies that have been promoted by central banks […]
09/30/2022
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By Mary Villareal
Hemp boom is over: Oversupply of hemp causes huge losses for farmers
Farmers in Oregon and elsewhere in the United States have given up hemp due to the lack of profit and underwhelming performance despite the initial positive outlook. Hemp has been used for industrial purposes since becoming legal for production in 2018. The market has grown alongside the cannabinoid industry, with farmers being highly optimistic about […]
09/27/2022
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By Mary Villareal
JPMorgan CEO: Vetoing fossil fuel projects would send US into a death spiral
JPMorgan Chase CEO Jamie Dimon warned that vetoing future fossil fuel projects would send the U.S. into a “death spiral.” Dimon issued the warning after Rep. Rashida Tlaib (D-MI) reminded him during a Congressional hearing that his company, along with six of the largest U.S. banks, have committed to wind down their emissions from “lending and […]
09/23/2022
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By Mary Villareal
Companies now looking at INVENTORY SURPLUS in certain products as demand dwindles
From trying to catch up to demand, product manufacturers now find themselves unable to get rid of their inventory. This has led many of them to cut jobs in order to compensate for lack of sales. One such company is Scotts Miracle-Gro (SMG), led by its CEO Jim Hagedorn. Sales just stopped after two years of […]
09/22/2022
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By Mary Villareal
Inflation forcing Americans to rely on credit cards for daily expenses
Around 60 percent of Americans are now carrying monthly credit card debt for at least 12 months, according to a survey from CreditCards.com commissioned by survey platform YouGov. Moreover, 40 percent of those who carry balances say they have been doing so for at least two years, 28 percent for at least three years and 19 […]
09/22/2022
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By Mary Villareal
Bakery owners in Germany protest sky-high energy bills amid worsening energy crisis in Europe
A German bakery saw its gas bill rise to €330,000 ($323,900) after a new energy company terminated its contract with the business that guaranteed fixed pricing until the end of 2023. Eckehard Vatter, the owner of the Vatter bakery chain, lamented that he was given only 14 days to pay the bill. Until a year ago, […]
09/22/2022
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By Mary Villareal
Couples are now fighting while shopping as grocery prices soar to new highs
Leibel Sternbach, a financial adviser, shared how his wife now has to double check their fridge after every shopping trip to tell him which things he didn’t need to buy. After all, their weekly grocery costs are now up to $350 per week. Last year, it was only around $220. He and his wife have […]
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