Germany Sees Gas Reserves Reaching 85% A Month Ahead Of Schedule, But Is It Enough?
Germany seems to be shoring up its energy reserves faster than its emergency plan as the country heads into the winter season. German Economic and Climate Action Minister Robert Habeck said that the country’s natural gas reserves are expected to reach 85% of its storage capacity by September, a month earlier than its plan. “The […]
The De-Dollarization Continues: Egypt to Issue $500 Million Worth of Yuan Bonds
The US dollar as the world’s reserve currency is losing its lustre, and rather fast. With China’s economic power rising, coupled with the world’s growing distaste for US foreign policy, an increasing number of countries are looking for alternatives to the greenback in the event of a rainy day in Washington. In a press conference […]
Zoltan Pozsar: Here Are Where The West Should Focus Its Policies To Win The ‘Great Crisis Of Globalization’
In his latest dispatch, Credit Suisse contributor Zoltan Pozsar took off from his last pronouncements that an L-shaped recession is needed to curb inflation. But the path to recovery in a world gradually shifting to a new order tied to commodities isn’t gonna be solved by traditional means of QE or economic equations. “What do […]
Hemp Manufacturer Hempacco Prices Downsized US$6 Million IPO
Hemp manufacturing company Hempacco Co., Inc. (Nasdaq: HPCO) started trading its shares on the Nasdaq Capital Market on Tuesday. The initial public offering is estimated to gross US$6 million. The offering consists of 1.0 million common shares, initially set at 3.0 million, selling at US$6.00 per share. The company is set to trade on the […]
US Mortgage Lenders Are Going Belly Up, Is It Going To Be Like 2008?
With the current situation of the real estate market, it’s not surprising that market watchers can’t help but get flashbacks of the 2008 crash. Resale inventory is low, interest rates are high and it seems they’ll just keep going up, and now mortgage lenders are going bankrupt. First Guaranty Mortgage Corp has filed for bankruptcy […]
Mt. Gox Offloading 137,000 Bitcoin To The Market Is Fake, But Its Effect On Price Was Real
Amid the rumors of Mt. Gox planning to dump the payout to its creditors in one giant 137,000-bitcoin offload, one of the creditors disputed the story as misinformation. Eric Wall, who identified himself as a creditor, dispelled any rumor that the Tokyo-based digital exchange will be distributing its payments in bulk soon. He added that […]
German Inflation Soars To Record 8.8% Ahead Of The ECB Meet
Germany saw its consumer prices hike the highest on record–a staggering 8.8% in August vis-a-vis its counterpart last year. According to the country’s statistics office, rising food and energy costs heavily drove the increase in the basket of goods prices. The impact, however, was offset by temporary government aid, including a fuel rebate and ultra-cheap […]
Alibaba to Face US Audit Inspections Following Deal With Beijing, Washington
E-commerce giant Alibaba is among the first Chinese companies to face US audit inspections following last week’s landmark agreement between Beijing and Washington that will allow American regulators to overlook Chinese accounting firms. According to sources cited by Reuters, Alibaba is slated to face regulatory oversight by the Public Company Accounting Oversight Board (PCAOB) beginning […]
Shell CEO Believes Europe Energy Crisis Might Not Be Limited To “Just One Winter”
According to Shell’s chief executive, Europe might have to plan for energy savings and rationing beyond this coming winter. “It may well be that we have a number of winters where we have to somehow find solutions through efficiency savings, through rationing and a very, very quick buildout of alternatives,” CEO Ben van Beurden said. […]
Taiwan Reportedly Fired Warning Shots On Chinese Drone Just A Day After Its Announced Ultimatum
Just a day after Taiwan issued its ultimatum on Chinese drones incursions, the self-governed island has reportedly fired warning shots for the first time at a drone near its offshore island. On Monday, Taiwan’s Ministry of National Defense said the country would “shoot down intruding Chinese drones that fail to heed warnings.” This comes after […]