Cathie Wood, CEO of Ark Invest, stated on Tuesday that the United States is already in an economic slowdown, and she conceded that she overestimated the severity and long-term impact of inflation. “We think we are in a recession,” Wood… Read More ›
Entrepreneurship
Another ‘Algorithmic’ Stablecoin Has Gone Below The $1 Mark, But Experts Claim It Is Not ‘Terra 2.0’
A contentious stablecoin issued shortly before the demise of a similar cryptocurrency named terraUSD is battling to keep its peg to the US dollar. USDD, a “algorithmic” stablecoin that is supposed to always be worth $1, fell to as low… Read More ›
Toyota Recalls Its First Mass-Produced Evs Less Than Two Months After Its Launch
Toyota Motor Corp announced on Thursday that it would recall 2,700 of its first mass-produced electric cars (EVs) due to a risk of wheels coming free. The world’s largest manufacturer by sales notified Japan’s transportation ministry of the recall of… Read More ›
Europe Could Return To Using Coal As Russia Significantly Reduces Gas Supply
Europe’s largest Russian gas purchasers were scrambling to find other fuel supplies and even considering burning additional coal to compensate for lower gas flows from Russia on Monday, which threatened an energy crisis in winter if reserves were not replenished…. Read More ›
Workers Of Apple Store In US To Form A Trade Union, The First For The iPhone Maker In US
Employees at an Apple store in Maryland chose to unionise, establishing the tech giant’s first retail union in the United States. The Towson store employees voted 65-33 in favour of the initiative, with approximately a dozen abstentions. After the results… Read More ›
China’s Xi Predicts Commerce With Russia Will Break Records In The Coming Months
Despite Western sanctions on Russia for its invasion of Ukraine, Chinese President Xi Jinping has reiterated his country’s determination to trade with Russia. “Today our cooperation between Russia and China [is] rising,” Xi said, according to an official English translation… Read More ›
Bank Of England Hikes UK Interest Rates To 1.25%
Interest rates in the United Kingdom have climbed further as the Bank of England works to slow the rate of price rises. Rates have risen from 1 per cent to 1.25 per cent for the fifth time in a row, reaching… Read More ›
Revlon Declares Bankruptcy As The Online Beauty Race Hits Sales Of The Company
Revlon Inc has declared bankruptcy after succumbing to debts incurred in its efforts to compete with online-focused upstarts. In a court statement on Wednesday, the 90-year-old company, known for its nail polishes and lipsticks, stated assets and liabilities ranging from… Read More ›
Bitcoin Drops To A New 18-Month Low As The Crypto Collapse Worsens
Bitcoin fell to a fresh 18-month low on Wednesday, bringing smaller tokens down with it and worsening a market crisis caused by crypto lender Celsius suspending customer withdrawals earlier this week. The world’s largest cryptocurrency dropped 7.8 percent to $20,289,… Read More ›
Following Rise In Bond Yields, ECB To Develop A New Instrument To Manage Fragmentation Risk
The European Central Bank revealed Wednesday that it intends to develop a new instrument to combat the possibility of eurozone fragmentation, in an effort to allay fears of a new debt crisis. The decision follows the central bank’s surprise emergency… Read More ›
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