Cart

0

Business, Stocks

“BP Earnings Fall 65% With Oil Major’s Surplus Cash Turning Negative”

“…But BP stock rose Tuesday following results, helped by a 10% dividend hike and buyback. Shares flirted with a possible early entry with crude oil prices on the rebound. CVX and XOM reported on Friday that second-quarter sales fell around 30%… Continue Reading…

Real Estate

“Blackstone REIT Announces Major Asset Liquidations As Redemption Requests Continue”

“Blackstone real estate investment trust (BREIT), which recently made news for exercising a clause that restricted owner withdrawals for several consecutive months, has not taken the news lying down. Blackstone recently announced the sale of $3.1 billion worth of its… Continue Reading…

Business, Economy, Energy

“Oil major BP braces itself for shareholder revolt after scaling back its climate targets”

“BP is bracing itself for a shareholder revolt at its annual general meeting on Thursday — some of the U.K.’s biggest pension funds are planning to ratchet up the pressure on the oil major after it rolled back its emission… Continue Reading…

Energy

“Exxon smashes Western oil majors’ earnings record with $56 billion profit for 2022”

“Exxon Mobil Corp posted a $56 billion profit for 2022, the company said on Tuesday, taking home about $6.3 million per hour last year, and setting not only a company record but a historic high for the Western oil industry.… Continue Reading…

Cryptocurrencies

“Coinbase to slash 20% of workforce in second major round of job cuts”

“Coinbase is cutting about a fifth of its workforce as it looks to preserve cash during the crypto market downturn. The exchange plans to cut 950 jobs, according to a blog post published Tuesday morning. Coinbase, which had roughly 4,700 employees as… Continue Reading…

Cryptocurrencies

“Ether drops 15% since major Ethereum network upgrade as traders take profits and fret over rate hikes”

“…Since Sept. 15, the date the merge was completed, to Tuesday, ether is down 15.2%. Bitcoin has dropped 4.4% in the same period. Ahead of the network upgrade, the price of ether roughly doubled from the lows of the year in… Continue Reading…

Cryptocurrencies

“$100 million worth of crypto has been stolen in another major hack”

“Hackers have stolen $100 million in cryptocurrency from Horizon, a so-called blockchain bridge, in the latest major heist in the world of decentralized finance… It follows a series of notable attacks on other blockchain bridges. The Ronin Network, which supports… Continue Reading…

Cryptocurrencies

“Core Scientific, a major U.S. bitcoin mining company, is going public via SPAC”

“Cryptocurrency mining operator Core Scientific said Wednesday it is listing on the Nasdaq through a merger with Power & Digital Infrastructure Acquisition Corp. The deal with the special purpose acquisition company values Core Scientific at roughly $4.3 billion. It’s not… Continue Reading…

Banking, Economy

“Major Bank Warns of Economic Turmoil for America”

“EDITOR NOTE: A dire economic warning for America has been issued by Deutsche Bank, one of the few major financial institutions that have stood apart from mainstream opinion concerning inflation. With current inflationary levels already a burden to most Americans,… Continue Reading…

Economy

“Major Shortages are Breaking the U.S. Economy”

“The U.S. economy is trying to restart its engine after tumbling into its deepest recession in generations, but a variety of supply chain constraints are threatening the country’s rebound. The country faces major shortages in everything from labor to semiconductors,… Continue Reading…