Russia Yields To Resuming Grain Deal With Ukraine Just Days After Withdrawing
Well, that didn’t last long. After receiving written promises from Ukraine that the safe-passage corridor will only be utilized for grain exports, Russia’s Defense Ministry indicated on Wednesday that Moscow is resuming its participation in the Black Sea grain-export deal. This a reverse from Russia’s hawkish stance a few days ago when it withdrew from […]
FCC Commissioner Urges US Government To Ban TikTok
Brendan Carr, one of the five commissioners at the Federal Communications Commission (FCC) is calling on the US government to ban TikTok, the Chinese-owned video app, on the basis of national security, according to a report by Axios. “There simply isn’t a world in which you could come up with sufficient protection on the data […]
Central Banks Buy Record Amount Of Gold In Q3
Central Banks bought more gold than ever last quarter, according to the World Gold Council’s Q3 report released on Tuesday. But a huge chunk of these purchases is from anonymous buyers. “The level of official sector demand in Q3 is the combination of steady reported purchases by central banks and a substantial estimate for unreported […]
Amazon: Canaccord Cuts Targets On “Macroeconomic Uncertainty And Inflation”
Amazon.com, Inc. (Nasdaq: AMZN) last week reported its third-quarter financial results. The company continued the tech-trend of worse-than-anticipated results, reporting revenues of $127.1 billion, up 15% year over year. North American segment sales increased by 20% to $78.8 billion, and AWS saw its sale increase by 27% to $20.5 billion. Increases to the company’s top-line […]
Foreign Investors In Elon Musk’s Twitter Buyout Can Potentially Access User Data
White House Mulls Legal Basis To Review The Deal While Elon Musk is busy making radical changes to his newest acquisition, the US government is looking into the legal basis of reviewing the Twitter (NYSE: TWTR) buyout deal pertaining to the ramifications of the foreign investors in the deal. According to people familiar with the […]
Jerome Powell Hikes Rates 75 Basis Points for Fourth Consecutive Time
The Federal Reserve once again delivered the fourth consecutive 75 basis-point rate hike on Wednesday, cementing one of the sharpest tightening cycles since 1981. In its fight to bring inflation down to the 2% target range, FOMC members unanimously agreed to increase the federal funds rate to 3.75% and 4%, whilst agreeing that “ongoing increases” […]
Stimmy, Anyone? Biden Administration To Spend US$13.5 Billion For Households’ Energy Bills
The White House announced on Wednesday that it will make US$13.5 billion available to help low-income American households reduce their heating expenditures this winter. US President Joe Biden’s administration is unlocking US$4.5 billion through the Department of Health and Human Services for low-Income Home Energy Assistance Program funding. Separately, the Department of Energy will spend […]
Saudi Arabia Tells US That Iran is Planning to Attack the Kingdom ‘Within 48 Hours’
Washington is currently on high alert after Saudi Arabia shared intelligence with US government officials regarding a potential attack on the Kingdom from Iran. As first reported by the Wall Street Journal, the Pentagon on Tuesday received credible information about an imminent attack on Saudi Arabia, which could happen “soon or within 48 hours.” The […]
Galaxy Digital Looks At Cutting Jobs By 20%
Galaxy Digital Holdings Ltd. (TSX: GLXY) is said to be considering laying off up to 20% of its workers in the face of a digital-assets market downturn. This follows after the firm widened its losses in Q2 2022, posting a net comprehensive loss of US$554.7 million. This is a decline from Q1 2022’s net loss […]
Goldman Sachs Sets Up New Service To Help Asset Managers Launch ETFs
Goldman Sachs (NYSE: GS) will soon get into the business of white labeling exchange-traded funds (ETFs) for asset management firms, according to a report by the Wall Street Journal. Quoting Lisa Mantil, a Goldman Sachs partner leading the Goldman Sachs ETF Accelerator, the new platform will not be involved in planning out the strategy for […]