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News & Articles By Cassie B.
06/14/2023
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By Cassie B.
U.S. budget deficit climbs in May amid big government spending and falling revenue
Government income has dropped this year, pushing the federal deficit deeper into the red than expected. New data shows the budget deficit climbed in May against a backdrop of falling federal revenues and rising Medicare spending. The Monthly Treasury Statement showed a May shortfall of $240 billion, which is a full $66 billion over last […]
06/13/2023
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By Cassie B.
Calm before the storm: Financial experts warn current market calm is a sign of impending recession
The recent resurgence in the stock market following climbing interest rates and high-profile bank failures is being interpreted by some financial experts as a sign that a recession could be just around the corner. JPMorgan Asset Management Global Head of Fixed Income Bob Michele said that today’s economic climate calls to mind the lull seen […]
06/09/2023
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By Cassie B.
California’s “impossible” electric truck mandate could put logistics companies completely out of business
With California’s deadline for zero-emissions vehicles looming, logistics companies are growing concerned that compliance will be impossible. Under the new mandate, which goes into effect on January 1, 2024, all new trucks that are bought for servicing distribution centers, ports and rail yards must be zero-emission models. One of the main concerns is the low […]
06/07/2023
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By Cassie B.
Macy’s and other major retailers say slower sales indicate major problems for American economy
Major retailers are sounding alarm bells over the current state of the economy in light of shifting customer demand at their stores as they struggle to find new ways to remain profitable. Big chains like the department store Macy’s and warehouse club Costco report that shoppers are changing their purchases and spending less money on […]
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 […]
06/02/2023
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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 […]
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