Protesters March Outside UN Biodiversity Summit In Montreal
As the 15th meeting of the Conference of the Parties to the UN Convention on Biological Diversity (CBD) or COP15 kicked off on Wednesday at Montreal’s Palais de Congrès, protesters marched at Saint-Jacques Street carrying a banner that read “Bloquons la COP15” or block COP15. The protesters make up a coalition of anti-capitalist and ecological […]
Vanguard Goes Anti-Woke: Fund Manager Quits Net-Zero Climate Alliance
Vanguard, the second-largest money manager next to BlackRock, is cutting ties with a net-zero climate alliance over mixed signals and confusion it was creating among its investors. Vanguard, which manages about $8.1 trillion focused on retail investing and retirement planning, said it will no longer be a member of the Net Zero Asset Managers (NZAM) […]
Sam Bankman-Fried Wanted To Pay Taylor Swift $100 Million For An FTX Deal
Fallen crypto mogul Sam Bankman-Fried was reportedly in the late stages of the negotiation for a US$100 million sponsorship deal with Taylor Swift just a few months before FTX collapsed early in November. According to a report from the Financial Times which cited people familiar with the matter, the deal included a ticketing arrangement that […]
Coinbase CEO Expects 2022 Revenue To Be “Roughly Half Or Less”
Coinbase Global (Nasdaq: COIN) CEO Brian Armstrong said the cryptocurrency exchange’s revenue will be slashed in half or more this year due to falling prices and the collapse of rival FTX. “Last year in 2021, we did about $7 billion of revenue and about $4 billion of positive EBITDA, and this year with everything coming […]
Auditing Firm Confirms Binance Proof-Of-Reserves, But It Wasn’t Technically An Audit
Auditing firm Mazars has released a report on Binance’s BTC reserves, reaching the same conclusions as the world’s largest crypto exchange in November. “Binance has requested that we perform an AUP [Agreed-Upon Procedures] engagement on the customers’ cryptocurrency holdings and corresponding liability of funds owed to the customers of Binance as at 23:59:59 Universal Time […]
Twitter Blames ‘Twitter Files’ Flop On Deputy General Counsel
Jim Baker, the company’s deputy general counsel and a former general counsel of the Federal Bureau of Investigation, has been “exited” from Twitter this week over his “possible role in suppression of information important to the public dialogue.” Last week, the first installment of Twitter Files was released by Substack writer Matt Taibbi after it […]
AT&T Pays Record Amount To Settle SEC Charges
The Securities and Exchange Commission (SEC) on Monday announced that AT&T (NYSE: T) has settled charges for alleged violations of Regulation FD. The company has agreed to pay US$6.25 million, and three company executives have agreed to pay $25,000 each. The settlement is the largest amount ever in a Regulation FD case, according to the […]
UPDATED: Maxine Waters Won’t Subpoena SBF to Testify Over FTX Collapse, But Senate Committee Feels Different
In a shock to those following the FTX collapse saga, it appears that former CEO and political donor Sam Bankman-Fried won’t have to testify over the crypto exchange’s sudden demise, despite running what’s turning out to be one of the biggest ponzi schemes since Bernie Madoff. However, Maxine Waters’ cozy relationship with SBF isn’t being […]
BMO Cuts Price Target On Salesforce On Disappointing Guidance
Salesforce (NYSE: CRM) last week reported it’s third-quarter financial results for the period ending October 30, 2022. The company announced that revenues grew 14.2% yearly, or 19% with a constant currency of $7.84 billion. This growth trickled down to gross profits, which increased 14.5% to $5.75 billion, or a 73.4% gross margin. The company saw […]
U.S. Bonds: Yield Curve Is The Most Inverted Since 1981
The negative 77-basis point (bp) yield spread between the U.S. two-year Treasury note (4.35%) and the U.S. ten-year government bond (3.58%) is the most deeply inverted differential since the dark economic times of 1981 An inverted yield curve generally suggests investors are worried about the economy’s long-term prospects; they are lending their money out for the […]