Bitfarms Reports Respectable Q2 2022 Earnings Given Bitcoin’s Collapse
Considering the pummeling that Bitcoin has absorbed over the last five months, Bitfarms Ltd. (NASDAQ: BITF) reported respectable 2Q 2022 earnings. The company mined 1,257 Bitcoin in the quarter, 31% more than in 1Q 2022, and generated positive US$18.7 million of adjusted EBITDA in 2Q 2022. Bitfarms increased its computing (and therefore mining) capacity to 3.6 Exahash per […]
Russia, India In Talks To Integrate Their SWIFT Versions Following Trade Boom
Russia and India are reportedly in talks to integrate their digital payment systems to encourage swift transactions between the two countries. This hopes to boost the already booming trade between the two giant markets as western states continue to ice Russia out of the global economy. The initiative might see Russia’s Mir and India’s RuPay […]
Scratch That — Colombia’s Leftist Government Does NOT Want to Decriminalize Cocaine
Colombia’s new leftist government still wants to end the war on drugs, but it has clarified — contrary to what appointed drug czar Felipe Tascón told the Washington Post last week — that its plans do not include legalizing cocaine. According to Justice Minister Nestor Osuna, who spoke to reporters in congress on Tuesday, the […]
Canadian Banks: Royal Bank Misses, National Bank Beats Estimates For Fiscal Q3 2022
Royal Bank of Canada (TSX: RY) missed earnings estimates while National Bank of Canada (TSX: NA) exceeded analysts’ expectations as two of the Big Six reported their financial results for their respective fiscal third quarters. Both banks saw declines in their net income: Royal Bank posted a 17% decline year-on-year, ending with $3.58 billion in […]
Ford to Pay $1.7 Billion in Damages For Fatal 2014 Rollover Accident
Ford Motor Co (NYSE: F) will have to pay $1.7 billion in punitive damages after a Georgia jury ruled the automaker knowingly manufactured its pickup trucks with faulty roofs that ultimately killed an elderly couple in a rollover. The verdict, one of the heftiest in the US this year, was delivered last week after a […]
German Economy Minister On Extending Nuclear Power Plants: “It Is The Wrong Decision”
German Economy Minister Robert Habeck said on Sunday that extending the life of the country’s three remaining nuclear power plants should be ruled out, given the little gas it would contribute to the state resources as Berlin heads for a much colder winter. “It is the wrong decision given the little we would save,” said Habeck, a […]
Tesla to Hike Price of Driver Assistance Software by 25% Come September
Elon Musk is raising the price of Tesla’s (NASDAQ: TSLA) premium driver assistance system once again, as the automaker makes gradual upgrades to the software technology. Musk on Sunday tweeted that Tesla’s Full Self-Driving system will increase from an upfront cost of $12,000 to $15,000 come September 5 for its North American customers. However, he […]
OPEC+ Sees Production Cut Amid Oil Market Disconnect – Saudi Energy Minister
The oil futures market might be increasingly disconnected from its fundamentals due to “very thin liquidity and extreme volatility,” leading to a foreseen potential production cut from oil-producing countries. Saudi Arabian Energy Minister Prince Abdulaziz bin Salman has noted that “paper and physical markets have become increasingly more disconnected” in the oil market, in a […]
Japan Mulls Building Next-Gen Nuclear Power Plants
In a major policy shift following the 2011 Fukushima disaster, the Japanese government is looking into constructing next-generation nuclear plants, in an effort to lower greenhouse emissions and ensure future energy supply for the country. As first reported by Nikkei and later cited by Bloomberg, Japanese Prime Minister Fumio Kishida is expected to officially announce […]
Biden Expected To Announce Plans Of Cancelling US$10,000 Of Federal Student Loan Debt Ahead Of The Midterm Elections
US President Joe Biden is set to make good on one of his campaign promises. The White House is reportedly announcing on Wednesday the plan to reduce by US$10,000 the federal student loan debts of those with family income of US$125,000 or less. According to people familiar with the matter, the president is expected to […]