Elon Musk’s Lenders Admit They Will Get a ‘Haircut’ Holding $12.7 Billion Twitter Takeover Debt
The lenders behind the $12.7 billion that Tesla CEO Elon Musk borrowed to finance his Twitter acquisition admit they’ll likely hold the debt for a long time whilst the company’s new owner works on a clearer business plan for the company. According to individuals familiar with the matter cited by the Financial Times, the banks […]
Companies Widen Profits After Hiking Food Prices Faster Than Inflation
Some food companies are seeing their profit continue on an upward trend, much like the inflation rates that have been mainly blamed for the rising food prices. In a New York Times piece, some companies have been described to be raising their retail prices not just to cover the hiking expenses due to inflation and […]
MicroStrategy Buys More Bitcoin As It Sustains More Losses From Crypto Investment
MicroStrategy (Nasdaq: MSTR) announced on Tuesday its Q3 2022 financial results toplined by a quarterly revenue of US$125.4 million, up from Q2 2022’s US$122.1 million but down from Q3 2021’s US$128.0 million. “For the third quarter, MicroStrategy achieved strong 51% growth year-over-year in subscription services revenues, record growth year-over-year in current subscription billings, and total […]
Novo Resources Places Beatons Creek Into Care And Maintenance After Revised Resource Estimate Released
Novo Resources (TSX: NVO) has officially returned to the status of gold explorer versus gold producer this morning with the news that its Beaton’s Creek project is officially moving to a care and maintenance status, while the company also halted work on the feasibility study for the projected. The decision to move to care and […]
Well Health Sees Patient Visits Post Continued Growth In Q3
Well Health (TSX: WELL) this morning released preliminary third quarter results as it looks to boost investor enthusiasm for its equity. The firm continues to see steady growth within its patient visits, posting healthy quarter over quarter growth figures for the data point. Omni-channel patient visits increased to 892,966 in the third quarter, a 7% […]
FOMC Preview: Will The Fed Hike The US Economy Straight Into a Recession?
With a sixth interest rate hike en route this week, some economists are sounding the alarm that the Fed will hike the US economy straight into a recession. However, with persistent inflation continuously rearing its ugly head each month, Fed Chair Jerome Powell may have to maintain a hawkish stance to undo the central bank’s […]
Taylor Swift Becomes First To Sweep Top 10 Of The Billboard Hot 100
Taylor Swift on Monday became the first in Billboard Hot 100 history to sweep all top 10 spots. The singer’s new studio album, “Midnights” was released on October 21. “Midnights,” the singer’s 10th album, was released as a standard 13-track record, with a deluxe version that featured seven bonus tracks. Billboard also reports that Swift […]
Supreme Court Orders Police To Remove Roadblocks By Protesting Pro-Bolsonaro Truckers
While outgoing President Jair Bolsonaro has so far remained silent about his defeat in Brazil’s presidential election, some of his supporters have taken to the streets to protest the results, setting up roadblocks in 23 of the country’s 26 states. The supreme court has since ordered the highway police to clear the roadblocks. The roadblocks, […]
Elon Musk Thinks Current Blue Check Subscription System is ‘Bullshit,’ Proposes $8 Monthly Fee Instead
New Twitter owner and Tesla CEO Elon Musk is going in a housekeeping spree, making numerous changes to the platform including high-profile firings, content moderation adjustments, and now reinventing the blue checkmark subscription service. In a series of tweets that were likely hastily fired off from the porcelain throne, Musk responded to famed horror writer […]
‘The Boy Who Cried Cybertruck’: Tesla To Mass Produce Cybertruck By End Of 2023… For Real?
After being delayed for almost four years since it was launched, Tesla’s (Nasdaq: TSLA) Cybertruck is intended to begin full production by the end of 2023, according to people familiar with the matter. “We’re in the final lap for Cybertruck,” CEO Elon Musk said in Tesla conference call with financial analysts. Tesla announced last month […]