Pension Fund CPP Investments Abandons Quest Into Crypto Investing
CPP Investments, the largest pension in Canada, has given up on researching potential investment opportunities in cryptocurrencies, following a series of high-profile crypto exchange collapses over the past year. According to people familiar with the matter cited by Reuters, the CPPI recently abandoned efforts of studying cryptocurrencies, after dedicating almost an entire year of research […]
Old Area 51 ‘Confession’ Resurfaces Weeks After FBI, Air Force Reportedly Raid Home Of Man Who Runs Area 51 Blog
A 2014 interview with an anonymous ex-CIA agent who claims that Area 51 is real has been making rounds online very shortly after government agents reportedly searched homes belonging to a man who runs a small blog about the top-secret southern Nevada outpost. The raid was confirmed by Lt. Col. Byron McGarry in a statement […]
Bank of Canada Raises Rates Another 50 Basis-Points, Hints at Pausing Hiking Cycle
For the sixth consecutive time this year, the Bank of Canada hiked interest rates once again, delivering another 50 basis-point increase. But, the central bank’s updated choice of wording suggests the aggressive cycle may be coming to an end. The latest tightening brought the overnight rate to 4.25% on Wednesday morning, the highest in nearly […]
After Real Estate Fund, Blackstone Private Credit Fund Also Hits Withdrawal Limit
Blackstone Inc.’s (NYSE: BX) announced that its $50-billion Blackstone Private Credit Fund (BCRED) has also reached its pre-set limit for the first time after its $69-billion real estate fund also exceeded its limitations for the quarter. Since Blackstone debuted the product in January of last year, this is the first time redemption requests have exceeded […]
California Gov. Newsom On Oil Refinery Profits: “You Guys Are All Being Screwed”
The state aims to be the first to impose an oil price gouging penalty targeted at capping oil windfall profits. California Governor Gavin Newsom publicly shared a first look at his plan after convening a special legislative session more than two months after saying he would ask the Legislature to penalize what he called excessive […]
Donald Trump’s Businesses Found Guilty Of Tax Fraud, Maximum Penalty At $1.62 Million
Following a five-week trial, a New York jury convicted the Trump Organization — whose corporations were charged with improperly decreasing the tax it paid on executive pay by granting top managers “off the books” bonuses — on all 17 charges on Tuesday. The case, which was first initiated by the Manhattan district attorney’s office last […]
GameStop Begins New Round Of Layoffs, Reportedly Cuts Blockchain Team
GameStop Corp. (NYSE: GME), the meme stock phenomenon, has begun a new round of layoffs, according to reports and LinkedIn updates from former employees claiming to have been impacted. Axios reports that a source has shared that the cuts heavily impact the team building the company’s blockchain wallet. “Another big round of layoffs from GameStop […]
Tesla Misses Berlin Gigafactory Production Target As Hiring Continues To Be A Problem
Human resource management continues to be one of Elon Musk’s weakest link. While he deals with massive layoffs at Twitter, his auto firm Tesla (Nasdaq: TSLA) is suffering missed targets due to recruitment hurdles. READ: Elon Musk’s Twitter Obsession Is Hurting Tesla; Stock Has Been Taken Off Wedbush’s ‘Best Ideas’ List When the Berlin gigafactory […]
Auditor General Cites $27.4 Billion COVID Benefit Payments Still Unverified, $4.6 Billion Overpayments To Ineligible Recipients
The report also noted the successful speed in obtaining and distributing COVID-19 vaccines but millions of doses were wasted due to huge surplus. The auditor general of Canada has stated that “at least” $27.4 billion in suspicious COVID-19 benefit payments must be probed since the beneficiaries’ eligibility still needs further verification. This is on top […]
PepsiCo Plans to Lay Off Hundreds of White-Collar Staff in Scramble to Cut Costs, Maintain Profit Margins
PepsiCo Inc. (NASDAQ: PEP) is preparing to lay off hundreds of its corporate staff, joining the list of tech and media companies attempting to trim costs in a worsening macroeconomic environment riddled with surging inflation and rising interest rates. PepsiCo, which not only produces its flagship cola drink but also makes Quaker Oats, Lays, and […]