China’s Lockdowns Could Further Fan Inflationary Pressures in North America
Investors as a whole have paid little attention to the implications of China’s decision to effectively shut down Shanghai, the country’s biggest city and home to the world’s busiest port for container traffic, and Shenzhen, a global technology center and China’s third most populous city. Highly unpopular mass quarantines and strict lockdowns have been implemented in […]
PornHub Parent Company Faces Class Action Lawsuit for Failing to Properly Screen Sexual Content
PornHub’s parent company MindGeek is facing a class-action lawsuit over failing to adequately screen sexual content before it is uploaded to its pornography website. Personal injury law firm Diamond and Diamond Lawyers filed a class-action lawsuit on behalf of Christine Wing, who alleges that intimate videos of her were uploaded to PornHub’s website without her […]
CNN Streaming To Shut Down One Month After Launch, To Issue Refunds To Subscribers
It has not been a good week for streaming platforms. CNN+, the news subscription streaming service of CNN, will close its operations on April 30, just a month after its launch in March. The decision follows the merger of WarnerMedia, CNN’s former parent company, and Discovery, forming what’s now Warner Bros. Discovery earlier in April. […]
House Republicans Request Twitter’s Board Retain all Records of Elon Musk’s Offer to Purchase Company
A number of House Republicans are calling on Twitter’s (NYSE: TWTR) board of directors to retain all records pertaining to Tesla CEO Elon Musk’s offer to buy the social media giant, potentially preparing for a congressional probe in the event the right wing party gains majority later this year. According to documents seen by CNBC, […]
Disappointing 1Q 2022 Earnings Results of Auto Parts Suppler Could be Warning Sign for Entire Auto Industry
On April 22, Stockholm, Sweden-based auto supplier Autoliv, Inc. (NYSE: ALV) reported disappointing 1Q 2022 earnings. Autoliv produces and sells safety-related parts which are standard equipment in all vehicles, such as airbags, seatbelts and steering wheels, to many leading global car manufacturers. The earnings miss at Autoliv, a relatively little-known mid-cap company (US$6.3 billion stock market valuation), is […]
Russia Classifies Import/Export Data Publications to Prevent Speculation
Russia’s customs service has decided to temporarily stop releasing import and export data in an effort to prevent the West from speculating on the impact of sanctions on the country. According to Reuters, the Federal Customs Service suspended the publishing of trade balance data to make it more difficult for Washington and the European Union […]
Stellantis Names Leadership Team Focusing On Hydrogen Fuel Cell
Stellantis NV (NYSE: STLA) seems to be bolstering its hydrogen fuel cell division. The automaker announced today the appointment of select executive leadership team members specifically for the development of the emerging division. Former Naval Group and Renault Group executive Jean-Michel Billig is joining the firm as Chief Technology Officer specifically for hydrogen fuel cell […]
Bank of Canada Open to 75 Basis Point Rate Hike in Face of Surging Inflation
The Bank of Canada signaled it is prepared to unleash a bout of even more aggressive monetary policy action, and potentially hike borrowing costs by as much 75 basis points. During meetings with the IMF and World Bank in Washington on Thursday, Bank of Canada Governor Tiff Macklem said he was “not going to rule […]
London Metal Exchange To Cease Trading In Gold, Silver
The London Metal Exchange is exiting the precious metals business. The exchange today indicated that it will be ending its LMEprecious market due to low trading volumes in both gold and silver contracts. The move comes just five years after the firm attempted to break into the precious metals space, taking on industry giant the […]
Will We See A 75 Basis Point Rate Hike? – The Daily Dive
Closing out the week on the Daily Dive this week is Danielle DiMartino Booth, CEO of Quill Intelligence. We start the interview off with Danielle discussing the potential for a 75 point rate hike, where rates may go in the near term, and what impact monetary policy has had on participation rates. Also covered is […]