Switzerland And Finland Announce Credit Support For Energy Companies
Switzerland and Finland on Tuesday announced that they will be providing credit facilities to help out energy companies as surging prices for natural gas and slashed Russian deliveries continue to batter the region. This follows Germany’s Friday announcement that it will extend a rescue package to energy supplier Uniper. “It was necessary to stabilize Uniper […]
Porsche Is Set For IPO To Create More Electric Vehicles; Enterprise Value Could Be As High As €85 Billion
The ‘horse’ might finally be off to race in the stock exchange. The Volkswagen Group (FSE: VOW) announced on Monday that it plans to push through taking its luxury brand Porsche public in an initial offering that could value the carmaker as high as €85 billion. The IPO is planned for in late September or […]
Biden Administration Bans US Advanced Tech Companies Receiving Fed Funding From Building Facilities in China
Last month, Congress approved a new plan to boost America’s dominance in technological advancement and increase domestic semiconductor chip manufacturing. There is just one catch, though: any companies receiving federal funding under the new plan are barred from building any facilities in China for at least a decade. The US Chips and Science Act finally […]
Chile Rejects Socialist Constitution That Would Have Enshrined A Record Number Of Rights
Chileans voted out on Sunday the proposed new constitution that would have drastically shifted the country to the “left”, which was peppered with proposals to enshrine over 100 rights into the national charter, more than any other constitution in the world. Garnering 62%, the nays ultimately voted out in a national referendum the proposed charter, […]
New Study Finds That Half Of US Workforce Are ‘Quiet Quitters’
A new study by global analytics company Gallup found that at least 50% of the US workforce, maybe more, are “quiet quitting.” The firm defines this cohort of workers as “people who do the minimum required and are psychologically detached from their job.” The trend, or more accurately, the mindset, has been gaining wider attention […]
Canadian Business Insolvencies Increase By 19% But It’s Just The Tip Of The Iceberg
Business insolvencies in Canada are on the rise, but the numbers might not be painting a full picture of the situation deemed worse. In the latest report by the Canadian Federation of Independent Business, the total number of insolvencies rose by 19.1% in July 2022 from the year-ago period. But the organization also cited the […]
Celsius Network: Vermont Regulator Suggests That The Crypto Firm Is A Ponzi Scheme In New Filing
A filing made this morning in the United States Bankruptcy Court of the Southern District of New York in the case of Celsius Network is already making the rounds on social media. The filing, made by the Vermont Department of Financial Regulation, effectively outlines a number of state concerns related to unregistered securities offerings and […]
Bank of Canada Delivers 75 Basis-Point Hike, Vows to Continue Raising Rates as Inflation Becomes Entrenched
What likely is not a surprise to markets anymore, the Bank of Canada raised borrowing costs by 75 basis points, bringing the overnight rate into a restrictive territory of 3.25%. Marking the fifth consecutive interest rate increase, the Bank of Canada’s policy rate is now the highest among developed economies, as Governor Tiff Macklem vows […]
SPAC DWAC Falls 11% After Announcing Proposed 12-Month Extension For Merger Deadline; Trump Asserts He Doesn’t Need Financing
The special purpose acquisition company associated with Donald Trump is ruminating its need for more time to enact a business combination, but the former US president is projecting confidence that he might not even need the blank check firm at all. Digital World Acquisition Corp (Nasdaq: DWAC) announced on Tuesday that it will be holding […]
From Russia With Coin? Moscow Mulls Stablecoins For Cross-Border Settlements
Giving effect to mounting sanctions that effectively rendered the country’s ability to conduct international business in major globally-accepted currencies, Russia has been looking for other ways to clear its cross-border settlements. One of the ways it is considering: stablecoins. “We are currently working with a number of countries to create bilateral platforms in order not […]