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Banking, Business, Economy

“Credit Crunch Fuels 48-Hour Bankruptcy Rush With Seven Filings”

“At least seven large companies filed for Chapter 11 bankruptcy protection in less than 48 hours, a breakneck pace of restructurings that included once-hot digital-broadcaster Vice Media LLC and KKR & Co.-backed Envision Healthcare Corp. That’s the largest number of… Continue Reading…

Cryptocurrencies

“Crypto exchange Kraken to shutter its Japan operations after global layoffs”

“Digital currency exchange Kraken will close down its operations in Japan next month, in another sign of consolidation in the battered crypto industry. In a blogpost on Wednesday, Kraken said it would cease crypto trading services through its Japanese subsidiary, Payward Asia,… Continue Reading…

Business

“TikTok likely to announce sale of U.S. operations in the coming days in $20 billion to $30 billion range”

“TikTok is nearing a deal to sell its U.S. operations and could announce a deal in the coming days, according to people familiar with the matter. Kevin Mayer, TikTok’s CEO, announced his resignation Thursday after news of the announcement leaked… Continue Reading…

Banking

“Repo Market BREAKS As Dealers Run Out Of Securities To Use For Fed Funds”

“Two weeks ago, just after the Fed first announced its massive overnight and term repo operation expansion which now amounts to some $1 trillion in daily repo capacity (and before Powell expanded this bazooka to included ZIRP and unlimited QE),… Continue Reading…