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News & Articles By Cassie B.
01/31/2025
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By Cassie B.
Bank of England struggles to meet gold demand as $82B stockpile shifts to New York
Traders are moving billions in gold from the Bank of England to New York, fearing potential tariffs under the Trump administration. Delivery times from the BoE have surged to 4-8 weeks, causing a gold shortage in London. Gold futures prices in New York are trading at a premium, incentivizing shipments and driving COMEX inventories to […]
01/30/2025
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By Cassie B.
Why many Californians may never rebuild after wildfires: Experts point to insurance, costs, and bureaucracy
Historic wildfires in Los Angeles have destroyed 16,000 structures, claimed 28 lives, and left communities like Pacific Palisades and Malibu in ruins. Many homeowners face financial crises due to inadequate insurance coverage and skyrocketing rebuilding costs, estimated at $1,000 per square foot. California’s slow permitting process and labor shortages further complicate rebuilding efforts, with coastal […]
01/29/2025
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By Cassie B.
Trump offers federal workers buyouts to streamline government, save taxpayers billions
The Trump administration offers buyouts to federal employees unwilling to return to in-person work, providing eight months of salary and benefits if they resign by February 6. The initiative excludes military, Postal Service, and national security roles, aiming to save taxpayers up to $100 billion annually. Only 6% of federal workers currently work full-time in […]
01/29/2025
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By Cassie B.
Chinese AI startup DeepSeek faces cyberattack amid U.S. tech stock turmoil
DeepSeek, a Chinese AI startup, gained global attention for its ChatGPT-rivaling AI assistant and a crippling cyberattack that forced it to limit new user registrations. The cyberattack caused outages, prompting DeepSeek to prioritize existing users while its app topped the U.S. App Store. DeepSeek achieved cutting-edge AI results at a fraction of the cost of […]
01/28/2025
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By Cassie B.
DeepSeek’s AI model ignites market panic, Nvidia suffers record loss
Chinese AI startup DeepSeek’s free chatbot surpasses ChatGPT in Apple’s app store, triggering a major U.S. tech stock sell-off. Nvidia experiences a record one-day market-cap loss of nearly $593 billion, leading the tech-heavy Nasdaq Composite Index to fall 3.1%. DeepSeek’s R1 model, cheaper and more efficient than rivals, sparks debate about the sustainability of AI […]
01/17/2025
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By Cassie B.
AI to replace millions of jobs by 2030, WEF report warns
AI could replace millions of jobs by 2030, with 41% of companies planning workforce reductions due to automation. Creative and knowledge-based roles, including graphic design and legal secretarial work, are increasingly at risk from AI advancements. While 77% of businesses aim to reskill employees, AI’s rapid growth threatens to widen economic inequality and fuel social […]
01/16/2025
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By Cassie B.
U.S. recovers $31 million in Social Security payments sent to dead people, expects $215m more
The U.S. Treasury recovered $31 million in Social Security payments wrongly sent to deceased individuals through a five-month pilot program. Officials estimate $215 million could be reclaimed by 2026, calling it “just the tip of the iceberg.” The program used the SSA’s Full Death Master File, improving death match rates by 139% and halting improper […]
01/07/2025
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By Cassie B.
Indonesia joins BRICS in a growing challenge to Western dominance
Indonesia officially joins BRICS, strengthening the bloc’s role as a counterweight to Western dominance. BRICS now represents nearly half the global population and over a third of global GDP. The group aims to reduce reliance on the U.S. dollar, challenging American economic hegemony. Over two dozen nations, including Turkey and Saudi Arabia, have expressed interest […]
01/03/2025
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By Cassie B.
Cocoa’s sweet victory: Beating Bitcoin to the top in 2024
Cocoa has outperformed Bitcoin in 2024 to become the best-performing commodity. Weather disruptions and soil degradation in West Africa are driving up cocoa prices. Global cocoa supply deficits have risen to their highest levels in 60 years. Experts predict cocoa prices will remain high in 2025 due to ongoing supply issues. Major chocolate brands are […]
12/05/2024
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By Cassie B.
U.S. pension systems are on the verge of debt collapse
Pension systems throughout the U.S. are falling deeper into what experts term “pension debt paralysis,” even in the face of record-setting contributions from state and local governments. The city of Milwaukee was recently given a grade of D by Truth in Accounting for its financial position due to its pension system’s huge net liability of […]
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