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News & Articles By Ramon Tomey
11/19/2021
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By Ramon Tomey
He doesn’t listen: Obama admin advisers call out Biden for refusing to heed inflation warnings
Two economic advisers of former President Barack Obama expressed disappointment toward the current administration, saying that President Joe Biden has refused to heed their warnings about rising inflation. Steven Rattner, former counselor to Obama-era Treasury Secretary Timothy Geitner, wrote an op-ed for the New York Times to say that he “warned the Democrats about inflation.” In […]
11/18/2021
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By Ramon Tomey
Gas prices in San Francisco Bay Area reach $5 per gallon amid shutdown of oil refineries
Californians living in the San Francisco Bay Area got the shock of their lives as gas prices hit the $5 per gallon mark amid the shutdown of oil refineries in northern California. San Francisco news channel KPIX 5 reported that gas prices per liter surpassed the previous highest price of $4.85 a gallon. Some areas had $5 per […]
11/16/2021
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By Ramon Tomey
Continued inflation pushing people to discount stores for better deals
Supply chain issues and rising prices due to inflation are now driving customers to discount stores. Steve Shaw, senior vice president of transaction data insight company Facetus, explained the sudden influx of people in discount stores. He said that the trend likely relates to discount stores having better supply chain logistics and lower prices. “Obviously, […]
11/12/2021
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By Ramon Tomey
Labor shortage and rising food prices force Vanceboro couple to close restaurant
The restaurant industry has been among the many industries hit hard by the Wuhan coronavirus (COVID-19) pandemic. A Vanceboro, North Carolina restaurant that closed barely a month after opening was the latest victim of labor shortages and rising food prices. Clinton and Zena Dawson shut down their restaurant Mary Lee’s Kitchen on Oct. 24, less than a month […]
11/11/2021
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By Ramon Tomey
Market analysts: In-transit goods will eventually make it to store shelves
BMO Capital Markets analysts led by Simeon Siegel claimed that items trapped in supply chain crunches will eventually make it to store shelves, albeit on discounted prices. They said the problem lies in transporting finished products to retail establishments, not in making goods from scratch. “The issue is actually less of [a] lack of supply, and […]
11/11/2021
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By Ramon Tomey
New IRS reporting rules send chills throughout crypto world
New tax reporting rules included in President Joe Biden’s $1.2 trillion infrastructure bill became a cause for alarm in the cryptocurrency and non-fungible token (NFT) sectors. Individuals and groups in those sectors think the new provisions could impact transactions. The amendment to section 6050I of the Internal Revenue Code of 1986 was quietly inserted in the infrastructure […]
11/10/2021
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By Ramon Tomey
US companies now dropping requirements for workers in response to labor shortages
Companies in the U.S. are now overhauling their hiring processes and dropping certain requirements for workers. This paradigm shift amid the labor shortage could help millions enter the workforce and fill up much-needed positions. With job vacancies numbering more than the applicants available, companies have devised ways to attract more people to sign up. Relaxed […]
11/09/2021
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By Ramon Tomey
North American Meat Institute: Labor shortage plays key role in food inflation
North American Meat Institute (NAMI) President and CEO Julie Anna Potts told lawmakers during a House Committee on Agriculture hearing Wednesday, Nov. 3, that labor shortages in the meat industry are key factors in rising food prices. “Just six weeks ago, the Biden administration tried to blame the meat and poultry industry for the rising […]
11/09/2021
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By Ramon Tomey
In the middle of a global energy squeeze, more than 40 countries at COP26 summit agree to end coal power plants
More than 40 countries present at the 2021 COP26 climate summit in the U.K. have agreed to phase out coal-fired power. Large economies committed to doing so in the 2030s, while smaller ones committed to eschew coal in the 2040s. The U.K., which hosted the summit held at Glasgow in Scotland, made “consigning coal to history” […]
11/05/2021
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By Ramon Tomey
Thieves now targeting containers loaded with electronics and household goods
Criminal minds have seen an opportunity as ports in the U.S. scramble to clear cargo backlogs. Thieves are now targeting containers with electronics and household goods. In a press release, cargo theft tracking website CargoNet said there had been 359 incidents of supply chain theft and fraud across the U.S. and Canada in the third quarter of 2021. […]
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