Guillaume Pousaz, CEO and founder of payment platform Checkout.com, speaking onstage at the 2022 Web Summit tech conference. Horacio Villalobos | Getty Images LISBON, Portugal — Once high-flying tech unicorns are now having their wings clipped as the era of easy money comes to an end. That was the message …
Read More »Monthly Archives: November 2022
Deglobalization is not an option for any one of us, German Chancellor Olaf Scholz says
Chancellor Scholz with Singaporean ministers ahead of his speech on Monday. Picture Alliance | Picture Alliance | Getty Images German Chancellor Olaf Scholz and Singapore Deputy Prime Minister Lawrence Wong have taken a united stance on continuing to work with China, but also remain committed to diversification. Scholz, attending the …
Read More »UK property market at risk of major downturn as recession fears loom
Economists are predicting that soaring interest rates and falling prices will mark the end of the U.K.’s 13-year housing market boom, potentially leading to a house price crash. Matt Cardy | Getty Images News | Getty Images LONDON — The U.K. property market may be verging on a major downturn, …
Read More »British government to usher in new era of austerity in effort to restore market confidence
Chancellor of the Exchequer Jeremy Hunt arrives at the back entrance of Downing Street, London. Aaron Chown – Pa Images | Pa Images | Getty Images LONDON — New British Finance Minister Jeremy Hunt must weigh the country’s economic peril against his party’s political survival on Thursday as he delivers …
Read More »Credit Suisse sells most of its securitized products business to Apollo as it speeds up restructure
Credit Suisse on Tuesday announced that it would accelerate the restructure of its investment bank by selling a significant portion of its securitized products group (SPG) to Apollo Global Management. Credit Suisse said the transaction, along with the potential sale of other assets to third-party investors, is expected to reduce …
Read More »China’s October retail and industrial data miss expectations
Covid cases have soared in China’s capital city of Beijing, where many communities have been recently locked down or under tighter health monitoring as the country maintains its zero-Covid policy. Kevin Frayer | Getty Images News | Getty Images BEIJING — Three indicators on China’s economy in October missed expectations …
Read More »Metaverse could pump $1.4 trillion a year into Asia’s GDP: Deloitte
The impact of the metaverse to GDP in Asia could be between $0.8 and 1.4 trillion per year by 2035, said a new Deloitte report. Weiquan Lin | Moment | Getty Images Meta‘s huge bet on the metaverse may have put the company in dire straits, but a new Deloitte …
Read More »Plug Power must get expenses under control
Rocket Pharmaceuticals Inc: “This is a very early stage company that has a lot in the pipe. I tend to like these companies. … If you get a bunch of them, I think you’re going to be fine.” Plug Power Inc: “Plug Power’s losing a fortune. … They must get …
Read More »Private air travel costs are increasing, but flyers still want to stay
Covid-19. Airport chaos. Lack of available flights. Many travelers say those are the reasons they ditched airlines for private jets during the past two years of the pandemic. But a new survey shows most of the newly converted aren’t ready to return to commercial aviation just yet. Some 94% of …
Read More »There’s enough pain in the market for Fed to slow rate hikes
CNBC’s Jim Cramer on Monday said that there’s enough pain in the market for the Federal Reserve to consider easing its pace of interest rate hikes. “There’s enough turmoil that the Fed needs to slow down its rate hikes, if only to prevent the headwinds from turning into some sort …
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