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Monthly Archives: May 2021

Restaurants nationwide raise prices amid soaring costs, labor shortage

[New York Post] With New York City’s restaurant scene coming back after COVID-19, there’s something new on the menu — bigger bills. Diners had better bring their cash as well as their appetites, as city restaurant prices are going up thanks to rising costs in food, supplies and labor, restauranteurs said. “If we’re getting squeezed there’s only […]

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These double-decker airplane cabin concepts could be the future of flying

(CNN) — Airplane seat designers have long been dreaming up innovative economy cabin concepts, looking for the ideal balance between squeezing in as many passengers in as possible, and keeping the experience relatively enjoyable for fliers. And while the stand-up airplane seats that have been floating around for the past few years have yet to see the light […]

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Congress opens investigation into BlueVine and Kabbage after reports of PPP fraud

[Bloomberg] Congress is investigating fraudulent loans facilitated by fintech lenders BlueVine and Kabbage.While fintech lenders only processed 15% of total PPP volumes, they’re involved in 75% of fraudulent loans identified by the DOJ.Fintechs boasted fully-automated PPP applications and faster approvals than traditional banks.Congress has opened a formal investigation into potentially fraudulent Paycheck Protection Program loans […]

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AMC, Gamestop: Meme stocks roar back, fueled by Reddit-inspired traders

[Yahoo! Finance] In January 2021, the rise of retail investing and the subreddit r/WallStreetBets sparked a broader speculative movement in a few stocks that ended up disrupting trading at brokerages and culminating in a Congressional hearing. And after a relatively quiet few months, the so-called meme stocks are back in a big way. The movement’s mascot, GameStop (GME), ended the week up […]

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Wage rises and labor shortage are a ‘democratization’ of U.S. workforce, fund manager says

[CNBC, GETTY] While the U.S. labor force participation rate remains well below pre-pandemic levels, with April’s nonfarm payrolls growing by just 266,000 against forecasts of 1 million, workers’ wages have risen at their sharpest pace in years, and new unemployment filings continue to fall.McDonald’s, Chipotle, Bank of America and Under Armour are among the companies […]

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Travel is back — and so are travel scams

(CNN) — With more widespread vaccinations and relaxed travel restrictions, many people are making long-awaited vacation plans. But scammers are making plans of their own to separate eager travelers from their money via too-good-to-be-true vacation packages, fake airfare deals and other shady schemes. Consumer advocacy organizations such as Better Business Bureau are issuing warnings about an increase in […]

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The Paycheck Protection Program was a lifeline for small businesses. Its final days end with tumult and dashed hopes

[Los Angeles Times] The federal government’s massive Paycheck Protection Program, which has been a lifeline for small businesses hit by the pandemic, has become so mired in confusion and delays as money runs out that hundreds of thousands of applicants may get no help, especially in underserved minority communities. During the first months after President […]

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US citizens warned not to travel to Japan as Tokyo Olympics near

(CNN) — The Tokyo Olympics, postponed in 2020 during the early days of the Covid-19 pandemic, are facing increasing hurdles in putting on a 2021 show.The latest troubling sign for the Summer Games came Monday when the State Department advised US citizens against traveling to Japan because of a sharp increase in Covid-19 cases.The “Level 4: Do Not Travel” advisory is […]

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Shiba Inu Fans Sign Petition for Robinhood Listing As Crypto Drops 75% This Month

[Newsweek, Getty] Enthusiasts of the Shiba Inu cryptocurrency token are continuing to sign a petition calling on trading platform Robinhood to adopt the meme coin. The petition was created during the token’s rapid price rise around two weeks ago. The price has since plummeted, down just under 50 percent over the past seven days at […]

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A crypto crash wiped out $1 trillion this week. Here’s what happened

New York (CNN Business) Wild, stomach-churning moments are part of the experience when you buy a ticket to the crypto circus. But the past week’s volatility was enough to make some of the crypto faithful wonder whether they’ve been bamboozled. On Wednesday, a broad crypto crash wiped out about $1 trillion in market value — a staggering […]

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