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News & Articles By Cassie B.
06/05/2023
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By Cassie B.
Target LOSES $14 BILLION in market value as backlash over controversial “Pride” collection continues
Target is the latest company to find out the meaning of “get woke, go broke” as the backlash over its controversial LGBT Pride line of products has led to a major financial setback. Financial services giant JPMorgan downgraded Target’s stock from “neutral” to “overweight” as its market value dropped $14 billion in the fallout from […]
06/04/2023
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By Cassie B.
Binance is delisting privacy tokens in France, Spain, Poland and Italy
Cryptocurrency is poised to become a lot less private in several European countries as a top crypto exchange is planning to delist “privacy tokens”. Starting June 26, Binance users in Spain, France, Poland and Italy will no longer be permitted to buy and sell enhanced anonymity crypto assets (CAE). The platform identified 12 coins that […]
06/02/2023
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By Cassie B.
Get woke, go broke: Anheuser-Busch loses $15.7 billion in value after disastrous Bud Light transgender influencer campaign
Anheuser-Busch, the parent company of Bud Light, is taking a huge financial hit in the wake of its troubling advertising campaign featuring a transgender influencer. While some observers initially believed the move only had the potential to alienate more conservative beer drinkers, it has actually driven away a far broader base of consumers, and the […]
06/02/2023
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By Cassie B.
Germany falls into RECESSION amid high energy prices and drop in consumer spending
Germany, home to Europe’s biggest economy, has now fallen into a recession as consumer spending drops in the wake of higher energy prices. During the first quarter of the year, the company’s GDP dropped by 0.3 percent, following a contraction of 0.5 percent during the last quarter of 2022. This meant Germany met the definition […]
05/22/2023
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By Cassie B.
Job APOCALYPSE continues: Layoffs announced at Walmart’s drone delivery partner
Walmart’s drone delivery partner is cutting jobs across the company amid a shift in its operating strategy. Virginia-based DroneUp announced a series of layoffs for its team, which is now made up of 418 people. Founded in 2016, the company owns a fleet of quadcopter drones that are geared toward last-mile delivery, flying items from […]
05/16/2023
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By Cassie B.
REPLACEMENTS: German government in talks to allow 250,000 Kenyan migrants to fill worker shortage
The German government is working on an agreement to allow 250,000 Kenyan migrants to enter the country and fill a shortage of skilled workers. In a joint press conference, German Chancellor Olaf Scholz and Kenyan President William Ruto announced that Germany would bring in skilled and semi-skilled workers as well as professionals to work in […]
05/07/2023
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By Cassie B.
Bed Bath & Beyond files $31.7M claim against container shipping line for “brazen price gouging and profiteering” during pandemic supply chain disruptions
Home goods retailer Bed Bath & Beyond, which filed for bankruptcy protection last week, has now filed a $31.7 million claim against the container shipping lines that it claims willfully abandoned their service commitments during the pandemic so they could profit from supply chain disruptions. Bed Bath & Beyond says that Orient Overseas Container Line […]
05/04/2023
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By Cassie B.
Americans should prepare for a credit crunch, experts warn
The recent banking crisis in the United States has led to widespread concerns of a looming credit crunch and the negative effects that it will have on American families and businesses as well as the economy as a whole. U.S. Treasury Secretary Janet Yellen recently told the media that she expects banks to be more […]
04/28/2023
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By Cassie B.
Zimbabwe needs $100 million in gold to support ambitious digital currency plan
Zimbabwe’s ambitious digital currency plan will need $100 million worth of gold to get off the ground, according to a member of the monetary policy committee for the country’s central bank. In a recent interview, Persistence Gwanyanya said that the central bank has been accumulating gold reserves as part of its plan to stabilize the […]
04/25/2023
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By Cassie B.
U.S. home prices see biggest annual drop in more than a decade as interest rates soar
Last month, home prices in the U.S. experienced their largest annual drop since 2012 as pending home sales reached a post-pandemic low. A report from real estate brokerage Redfin showed that median home prices in the country fell by 3.3 percent to just over $400,000. This comes right after a 12 percent drop was seen […]
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