A 2,900% Gain in a Day!
Days ago, AMTD International (AMTD) went ballistic, running from about $1 to $12.90. Now, we’re watching as Magic Empire Global Limited (MEGL) follows suit. New to the market, the stock is up 2,900% at the moment at $120. For those of you that are new to MEGL,...
U.S. fuel retailers rail against green aviation fuel tax credit
By Laura Sanicola NEW YORK (Reuters) - U.S. fuel retailers are fighting the inclusion of a tax credit for sustainable aviation fuel (SAF) in Democrats' $430 billion spending bill, arguing SAF is more carbon intense and less efficient than renewable diesel. Lawmakers...
U.S. Senate’s $430 billion climate bill to add tax on stock buybacks
WASHINGTON (Reuters) - The roughly $430 billion climate, drugs and tax bill that U.S. Senate Democrats are trying to push through Congress will include a new excise tax on stock buybacks, Majority Leader Chuck Schumer said on Friday. Lawmakers agreed to add that...
The Top 3 Ways to Trade the Red-Hot Biotech Boom
Investors may want to pay close attention to biotech. For one, the sector is still one of the safest, most recession-proof investments around. Two, an aging population is demanding more treatments in an effort to live longer lives. As this number continues to...
Factbox: Companies cut jobs, freeze hiring to prepare for economic slowdown
(Reuters) - Technology companies, crypto exchanges and financial firms are cutting jobs and slowing hiring as global economic growth slows due to higher interest rates, red-hot inflation and an energy crisis in Europe. In a sign of a tough second half of the year,...
Facebook parent Meta set to raise $10 billion in bond debut -sources
By Nivedita Balu and Shankar Ramakrishnan (Reuters) -Facebook-parent Meta Platforms Inc is set to raise $10 billion in its first-ever bond offering on Thursday, as it looks to fund share buybacks and investments to revamp its business, according to two sources close...
Oil prices hit lowest since Ukraine invasion amid recession fears
By Noah Browning LONDON/NEW YORK (Reuters) - Global oil prices dropped on Thursday to their lowest levels since before Russia's February invasion of Ukraine, as traders fretted over the possibility of an economic recession later this year that could torpedo energy...
U.S. proposes new consumer protection rules for airline passengers
WASHINGTON (Reuters) -The U.S. Transportation Department on Wednesday proposed new rules to strengthen airline passenger protection and require airlines to provide vouchers that do not expire when passengers are unable to fly for certain pandemic-related reasons. The...
Ben & Jerry’s says Unilever froze directors’ salaries
By Jessica DiNapoli NEW YORK (Reuters) -Ben & Jerry's independent board said parent company Unilever Plc, with which it is locked in a dispute over the sale of its Israeli business, had frozen its directors' salaries in July as a pressure tactic ahead of a...
U.S. crypto firm Nomad hit by $190 million theft
By Elizabeth Howcroft LONDON (Reuters) -U.S. crypto firm Nomad has been hit by a $190 million theft, blockchain researchers said on Tuesday, the latest such heist to hit the digital asset sector this year. Nomad said in a tweet...
Robinhood’s crypto arm fined $30 million by New York State’s financial regulator
(Reuters) - New York State's financial regulator has fined the crypto arm of Robinhood Markets Inc $30 million for alleged violations of anti-money-laundering, cybersecurity and consumer protection rules. The New York State Department of Financial Services (NYDFS)...
Michigan working to attract chip manufacturers under new U.S. bill – governor
By David Shepardson WASHINGTON (Reuters) - Michigan Governor Gretchen Whitmer said the state is well positioned to attract new investment in semiconductor chips manufacturing after Congress passed $52 billion in new subsidies. "The state of Michigan is uniquely...
U.S. considers crackdown on memory chip makers in China
By Alexandra Alper and Karen Freifeld WASHINGTON (Reuters) - The United States is considering limiting shipments of American chipmaking equipment to memory chip makers in China including Yangtze Memory Technologies Co Ltd (YMTC), according to four people familiar with...
Wall Street ends down after biggest month since 2020
By Aniruddha Ghosh and Noel Randewich (Reuters) - Wall Street ended lower after a choppy session on Monday, with declines in Exxon Mobil and other energy companies weighing against gains in Boeing as investors digested the U.S. stock market's biggest monthly gains in...
Einhorn’s Greenlight takes stake in Twitter – letter
By Svea Herbst-Bayliss BOSTON (Reuters) - Hedge fund Greenlight Capital said it took a new stake in Twitter last month as the social media company sued to force Elon Musk to buy the company even as the billionaire entrepreneur said he has changed his mind about the...
U.S. Air Force pauses some operations over pilot ejection seat concerns
By Mike Stone WASHINGTON (Reuters) - Concerns over defects in the explosive cartridges in pilot ejection systems aboard three U.S. military aircraft, including the F-35, forced a temporary halt to some U.S. operations in order to perform checks, the Air Force said on...
Top Reasons to Jump Back into Green Stocks Right Now
Solar stocks could see brighter days ahead. All after Senate Majority Leader Chuck Schumer, D-N.Y., and Sen. Joe Manchin, D-W.V., said they reached a deal on climate spending. In fact, the “Inflation Reduction Act of 2022” now includes $369 billion for clean energy...
Russia fines WhatsApp, Snap and others for storing user data abroad
MOSCOW (Reuters) -A Russian court on Thursday fined Meta Platforms Inc's WhatsApp messenger, Snapchat owner Snap Inc and other foreign firms for their alleged refusal to store the data of Russian users domestically. Moscow has clashed with Big Tech over content,...
Cost of living crisis? Consumers keep spending for now
By Richa Naidu and Sachin Ravikumar LONDON (Reuters) - Consumer-focused firms are seeing no shortage of demand despite the soaring cost-of-living, prompting several to upgrade sales forecasts for the current year, though questions remain about how long that will last....
Stranded teenage sailor excited at journey home from Ukraine after grain deal
By Ece Toksabay and Ali Kucukgocmen ISTANBUL (Reuters) - Deck cadet Burak Kinayer, 19, is waiting to hear when he will set sail home to Turkey after five months of being stranded by the war in the Ukraine now a grain export deal has been signed. As clashes between...