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News & Articles By Arsenio Toledo
12/22/2022
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By Arsenio Toledo
Amazon becomes first company ever to lose $1 trillion in market value
Amazon just lost $1 trillion in market cap value, the largest loss in market value ever recorded by any publicly traded company. In July 2021, the company had a market value of a near-record breaking close of $1.88 trillion. But the tech giant’s shares dropped 4.3 percent in value in November, lowering the company’s market […]
12/21/2022
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By Arsenio Toledo
Bankrupt meat importer owes millions to at least 99 creditors in transportation and logistics
South American Beef, Inc., a frozen meats importer based out of West Des Moines, Iowa, has filed a petition with the Southern District Court of Iowa to receive Chapter 11 bankruptcy protections. The company was founded in 1999 and sold products under vendor brands as well as its own Prairie Natural brand. Its specialty is […]
12/20/2022
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By Arsenio Toledo
Investors are leaving the cryptocurrency industry en masse as collapse continues
More investors are leaving the cryptocurrency industry as the values of crypto assets continue their freefall. Cryptocurrency fund asset managers saw their investors withdraw $20 billion worth of assets from the crypto industry in November. This accounts for nearly 15 percent of total crypto assets under management (AUM), bringing the collective AUM of crypto fund […]
12/16/2022
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By Arsenio Toledo
Federal Reserve once again raises interest rates, Fed chair warns of more rate hikes next year
Federal Reserve Chair Jerome Powell warned that the central bank will continue raising interest rates next year just as it raised its benchmark interest rate to the highest level in 15 years. Powell claimed that if the Fed does not continue raising interest rates in 2023, Americans will have to pay a higher cost as […]
12/14/2022
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By Arsenio Toledo
Demand for electric cars in the UK plummets due to surging price of electricity
Demand for electric vehicles (EVs) in the United Kingdom has dropped for the first time since 2020 as soaring electricity costs make the vehicles far too costly to operate. British automobile sales website Auto Trader noted that EVs accounted for less than a fifth (19 percent) of new car inquiries sent to car dealers through its online […]
12/14/2022
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By Arsenio Toledo
Foxconn spends $500 million to expand manufacturing in India, reduce reliance on tumultuous iPhone plant in China
Taiwan’s Foxconn Technology Group has just announced a $500 million investment to expand its operations in India as it seeks to diversify its supply chain after labor unrest in its massive plant in Zhengzhou, China, disrupted manufacturing. Foxconn is one of the largest electronics contract manufacturers in the world. Its plant in Zhengzhou, known as […]
12/13/2022
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By Arsenio Toledo
Bored Ape Yacht Club NFT investors suing celebrity promoters for misleading and fraudulent endorsements of the failed product
A-list celebrities, including television host Jimmy Fallon, actress Gwyneth Paltrow and singer Justin Bieber, have been sued in a class action suit accusing them and other celebrities of fraud after they promoted Bored Ape Yacht Club (BAYC) non-fungible tokens (NFTs). The suit claims that celebrities, which also include pop singer Madonna and socialite Paris Hilton, pumped up […]
12/08/2022
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By Arsenio Toledo
Volkswagen reconsidering plans to build new EV battery plants in Europe due to soaring energy costs
Automobile manufacturing giant Volkswagen has warned the European Union (EU) that soaring energy costs make building new electric vehicle battery production plants “practically unviable” in the continent. Volkswagen has been talking about committing to investing in Germany and EU industrial projects involving electric vehicles, including new battery-cell factories. Unfortunately, the company warned that such long-term investments will […]
12/06/2022
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By Arsenio Toledo
Apple speeds up plans to shift production OUT OF CHINA
Tech giant Apple has accelerated its plans to shift more of its manufacturing outside of China. China has long dominated the supply chain of Apple, the world’s most valuable company. But in the wake of the turmoil in China, Apple executives want this to change. Currently, Apple is heavily reliant on Taiwanese iPhone assemblers led […]
12/06/2022
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By Arsenio Toledo
Crypto stocks PLUMMET: Industry nearing collapse as financial analysts warn most crypto firms unlikely to survive long-term
Stocks for companies in the cryptocurrency industry have plummeted. Analysts and investors still can’t figure out when this downfall will bottom out, but many of them believe that most crypto firms are unlikely to survive long-term. Publicly-traded cryptocurrency companies like Coinbase Global Inc., Galaxy Digital Holdings Ltd. and MicroStrategy Inc. all had their stocks plummet in […]
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