Category: Economy
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Tesla Owner is the New Owner of Twitter
After months of negotiations, Elon Musk, owner of the electric car manufacturer Tesla and the aerospace engineering company Space X, completed his acquisition of Twitter for $44 billion this Thursday, October 27. The richest man in the world is now in charge of one of the most influential social media platforms in the world. Shortly…
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Some Brands of Dry Shampoos Recalled Due to Potential Cancer Risk
Unilever has initiated the recall of certain aerosol dry shampoos from the brands Dove, Nexxus, Suave, TIGI, and TRESemmé due to the potential presence of benzene, a chemical that can cause cancer. The affected products were produced before October 2021 and were distributed to retailers nationwide, the Food and Drug Administration (FDA) reported. Benzene is…
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Rising Interest Rates Delay Homeownership Dreams in the U.S.
Mortgage rates continue their climb, with the weekly average for 30-year fixed-rate loans reaching 6.92% this week. This is the highest rate in the last 20 years, and 3% higher than at the beginning of this year. Rising rates have been slowing down home sales for 7 consecutive months, as buyers are unable to afford…
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United Kingdom Chooses New Prime Minister
On Monday, October 24, the United Kingdom chose its newest prime minister. Rishi Sunak, from the Conservative Party, is set to take office later this week, replacing Liz Truss, who recently resigned and became the leader with the shortest tenure in the position. Rishi Sunak will be the third person to lead Britain in seven…
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Cartels Use Social Media to Recruit Smugglers at the Border
Mexican cartels are increasingly using social media to recruit people in the U.S. to assist in their smuggling operations at the border between the two countries. A video posted on Wednesday, October 19, and released by the Texas Department of Public Safety (DPS), shows the following message alongside an image of a truck: “Need someone…
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Report Highlights “Terrible” Working Conditions at Shein
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A report from the British broadcaster Channel 4 revealed details about the working conditions and business practices of the Chinese fashion giant, Shein. In one factory, the news network discovered that workers earned a base salary of 4,000 yuan per month – approximately $554.00 – to make 500 clothing items per day. In another factory,…
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October is National Women’s Small Business Month
In the United States, October is National Women’s Small Business Month. This means it is time to celebrate and recognize the remarkable progress that women entrepreneurs have been making over the years. Since the onset of the pandemic, there has been a significant increase in the number of small businesses owned by women in the…
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Parler: The Controversial Social Media Acquired by Kanye West
The conservative social media company Parler announced on Monday, October 17, that it is being purchased by Kanye West. Recently, the rapper was temporarily suspended from Twitter due to a tweet deemed antisemitic. A press release from the company controlling Parler announcing the deal states that West, who legally changed his name to Ye, is…
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How Much Does It Cost to Raise a Child in the U.S.?
In the United States, the average cost of raising a child from birth to age 17 has increased by 16% since 1960 – when data was first collected. In 1960, the average total spending on a child in a middle-income family was $202,020, adjusted for inflation. By 2015 – the most recent data available on…
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You Can Now Apply for Student Loan Forgiveness
President Joe Biden announced on Monday, October 17, that federal student loan borrowers can now apply online for forgiveness of up to $20,000 of their debt. “This is a game changer for millions of Americans… and it took an incredible effort to get this website up in such a short time,” Biden said. People wishing…