Queen Elizabeth II Dies at Age 96
After being put under medical supervision earlier this week, the Queen passed away Thursday afternoon at Balmoral Castle in Scotland aged 96. “The Queen died peacefully at Balmoral this afternoon. The King and The Queen Consort will remain at Balmoral this evening and will return to London tomorrow,” Buckingham Palace announced. Her eldest son, Prince […]
China’s Evergrande Lender Seizes Firm’s US$1.2 Billion Headquarters
After its shocking debt default in December 2021, Evergrande Real Estate Group is facing a possible takeover. One of the Chinese developer’s lenders just took over the firm’s Hong Kong headquarters. As people familiar with the story told Financial Times, the still unidentified lender informed Evergrande that it had appointed a receiver to take charge […]
‘Doge Escalated Quickly’: The US$258-Billion Dogecoin Lawsuit Against Elon Musk Gets Fresh Plaintiffs, Defendants
The ‘Dogefather’ gets new members of the family, but also fresh enemies. The class action racketeering lawsuit against Tesla (Nasdaq: TSLA) CEO Elon Musk adds six new defendants to the case. Filed in June 2022 at a lower Manhattan court, the lawsuit’s main plaintiff Keith Johnson claims the defendants “are engaged in a crypto pyramid […]
Bitcoin: US Threatens To Ban Energy Intensive Crypto Mining
Time may be close to up for the crypto trade for those that remain after the carnage seen this past spring. Today, the Office of Science and Tech for the White House released a report focused on the energy and climate impacts of crypto assets – and its not exactly bullish for the sector. Entitled […]
Switzerland’s Proposed Gas Rationing Rules Will Fine, Jail Violators
Panic is beginning to set in over Europe’s worsening energy crisis, forcing countries to ration supplies and even threaten fines or jail time for individuals and businesses caught violating the emergency restrictions. Switzerland’s Federal Department of Economic Affairs recently proposed new rules under the Federal Law on National Economic Supply that limit indoor temperatures to […]
Europe’s Banks Brace For Potential Power Cuts As Energy Crisis Intensifies
Potential blackouts and power rationing brought about by the energy crisis threatens Europe’s money system. To prevent ATMs and online banking from going dark, banks across Europe are getting ready to dim the lights to save power and are stress-testing ways to cope while they line up alternative power sources like generators, according to an […]
The Biggest Mismatch in History: Inflation Soars to Near Double-Digits, Economy Barrels Towards Recession… ECB Raises Rates to 0.75%
The European Central Bank finally decided to jump on the bandwagon of monetary policy panic, realizing the colossal money printing of the Covid-19 era may have been too excessive for too long. On Thursday, policy makers delivered a front-loaded 75 basis-point hike, marking the largest increase in borrowing costs in more than a decade. However, […]
Cineworld Declares Bankruptcy: AMC CEO Distances, Cineplex Expects Hitches On Claiming $1.24 Billion Court Judgment
British cinema chain Cineworld Group filed for Chapter 11 bankruptcy proceedings but its leading competitors took the headlines. AMC Entertainment Holdings, Inc. (NYSE: AMC) CEO Adam Aron took the announcement to distance the American theatre chain from the bankruptcy filing, saying the firm “is in a very, very different situation.” “Fortunately, AMC is in a very, […]
Putin Threatens To Pull Out Of Grain Agreement And To Let Europe Freeze In The Winter
At the lackluster event that was the Russian Eastern Economic Forum, Russian President Vladimir Putin didn’t speak much about the economy and trade, at least not with Myanmar and Armenia, the only two countries that sent top officials to the event. Putin instead threatened to slash the export of Ukrainian grain and said that if […]
“Free From Political Interference”: Trump’s TMTG Urges SEC To Finish Probe On SPAC Merger Deal
Trump Media & Technology Group is leaning on the US Securities and Exchange Commission to wrap up its investigation on the pending SPAC merger deal with Digital World Acquisition Corp (Nasdaq: DWAC). Former US President Donald Trump’s media firm said that while it will “continue cooperating with all stakeholders in connection with its planned merger,” […]