Author Archives
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Gamers To Be Harmed By $69 Billion Acquisition Of Activision By Microsoft, Claims UK Regulator
The $69 billion purchase of gaming juggernaut Activision Blizzard by Microsoft on Wednesday was warned against by Britain’s competition watchdog. The Competition and Markets Authority predicted that the acquisition would substantially lessen competition, which would result in higher prices, fewer… Read More ›
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Despite Easing Inflation, Fed Chair Powell States Interest Rates Still Expected To Be Hiked
Inflation is starting to decline, according to US Federal Reserve Chairman Jerome Powell, but he expects it to take time. In addition, he warned that if the economic data are uncooperative, interest rates may increase more than expected. “The disinflationary process,… Read More ›
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Hedge Funds Under More Pressure Than The 2021 Meme Stock Frenzy, According To Goldman Sachs.
According to a Goldman Sachs research note, hedge funds betting against stocks globally exited those trades at the fastest rate since 2015, outpacing their exit from the meme stock frenzy two years ago. The latest short squeeze, which indicates that… Read More ›
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UN Report States North Korea’s Crypto Theft Set A New Record In 2022
According to a currently confidential United Nations report seen by Reuters on Monday, North Korea stole more cryptocurrency assets in 2022 than in any other year and targeted the networks of foreign aerospace and defense companies. “(North Korea) used increasingly… Read More ›
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To Avoid A Repeat Of The COVID ‘Failure,’ The Draft WHO Pandemic Agreement Advocates For Equity
According to an early draft of a global pandemic agreement, governments may have to reserve drugs and vaccines for the World Health Organization to distribute in poorer countries to avoid a repeat of the “catastrophic failure” during the COVID-19 pandemic…. Read More ›
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Earnings Of Tech Companies Have Come To A Halt, Temporarily Halts A Market Rally
Big Tech led a sharp rebound in US markets to begin 2023. Not so fast, according to their earnings report on Thursday. Apple Inc, Alphabet’s parent company Google, and Amazon.com all reported disappointing end-of-year quarter results. The reports raised new… Read More ›
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Record 9.6 Bln Euro Profit For 2022 Reported By Santander, But Its Provision For Q4 Higher Than Expected
The lender Santander announced that its net profit for 2022 increased by 18% to touch a record high of 9.6 billion euros ($10.6 billion) due to increased lending, even though the good financial performance was eclipsed in the last quarter of last year as provisions for made by the bank… Read More ›
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US Fed Raises Interest Rates By A Small Amount, And Powell Predicts A “Couple” More Hikes In The Future
The Federal Reserve said on Wednesday that it had turned a key corner in the fight against high inflation, but that “victory” would still necessitate raising its benchmark overnight interest rate further and keeping it there at least until 2023…. Read More ›
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EU To Consult Whether Network Costs Should Be Paid By Big Tech: Reports
According reports quoting information from a document of the European Commission, the European Union (EU) plans to consult companies in the technology and telecoms sectors about whether tech behemoths such as Alphabet Inc’s Google, Meta, and Amazon.com Inc should be forced to subsidize network costs…. Read More ›
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Even After China’s COVID Reopening, Factory Activity In Asia Is Declining
Asia’s factory activity fell in January as the boost from China’s COVID reopening failed to offset headwinds from slowing US and European growth, according to surveys released on Wednesday, underscoring the region’s economic recovery’s fragility. According to a private sector… Read More ›
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