Finance

Meta is doing very badly: the stock is down 23%

So far, the stock hasn't broken its intraday drop record: after the February report, the stock was down 26%. But rising costs and weak earnings per user bode well for Zuckerberg. The stock is trading at 2015 levels.

Metaverse is not paying off. The development loss of the destination was $3.7 billion in the third quarter. And so far, revenue growth from the metaverse can only be expected in 2023. Which means the current quarter is also likely to disappoint investors.

ECB tries to save EU economy - central bank will be flexible in reinvesting PEPP program

The pandemic has left persistent vulnerabilities in the eurozone economy that contribute to the uneven normalization of our monetary policy among different countries, the ECB said. The ECB has instructed Eurosystem committees and ECB services to accelerate the development of a new mechanism to combat fragmentation. Why it matters. Rising

Price for oil price cap yet to be determined, head of European Commission

"The EU is ready in principle to go to the oil price cap," von der Leyen added. Earlier, the head of the U.S. Treasury Yellen said that the U.S. is not against the purchase of oil by India above the price cap. The WSJ also reported citing sources

U.S. officials forced to roll back plan to limit Russian oil prices - Bloomberg

India and China - Russia's most important trading partners - will not participate, Bloomberg sources said. The price cap plan is still alive after all. However, the price cap will be higher than previously thought. Earlier, U.S. Treasury Secretary Yellen said the price ceiling could be in the range

Read next