Finance
U.S. authorities plan to ease economic sanctions against Venezuela
In particular, the plan is to allow the oil company Chevron to begin negotiations with the Maduro government, the Associated Press reported, citing unnamed U.S. officials.
Finance
Finance
Manchin saved the U.S. and Democrats from rising inflation, Jeff Bezos
In a Sunday tweet, Bezos said that the Biden administration was "trying to stimulate an already overheated inflationary economy even more, and only Manchin saved them from themselves." It should be remembered that Manchin's position prevented the U.S. Congress from passing a $1.9 trillion
Finance
Tesla suspends plans to enter the Indian market
Ilon Musk's company has suspended plans to sell electric cars in India. Tesla was unable to reach an agreement with the authorities on lower import taxes, Reuters reported. Negotiations with the Indian government lasted more than a year. Tesla had intended to ship Chinese-made electric cars to India,
Finance
Philip Morris buys Swedish chewing tobacco manufacturer Swedish Match for $16 billion
The maker of Marlboro is trying to diversify its business by looking for alternatives to traditional tobacco products because of regulatory scrutiny around the world. Although Swedish Match products are banned in the EU, the U.S. Food and Drug Administration cleared it in 2019. However, Swedish Match shareholders said
IT
Netflix is looking for a bailout: the company told employees that Netflix's platform will feature ads by the end of the year
The company also said in a memo that Netflix plans to start cracking down on password sharing among its subscriber base around the same time.
Finance
Valuations of U.S. companies fell more than 17% after a rate hike from the FRS
"Analysts are catching up with reality, and this is a major change in valuations for companies," said Greg Taylor, chief investment officer at Purpose Investments. According to data compiled by Bloomberg, Amazon's average earnings per share estimate for 2022 has fallen more than 50% in the
Finance
Buffett's Berkshire Hathaway increases its stake in Occidental
Berkshire Hathaway has increased its stake in the U.S. oil company to about 15.2%. According to SEC documents, 5.9 million shares of Occidental were bought Tuesday, worth about $336 million. Occidental's stock has nearly doubled since the beginning of the year. Among the main factors
Finance
Traders expect a serious tightening of the Bank of England policy by September
The market expects the Bank of England to raise interest rates by 125 basis points by September. The bank is expected to hold three 25bp hikes and one 50bp increase. The half-percentage-point increase would be the first since 1995.
Finance
Average U.S. diesel prices hit historic highs for 5th consecutive day
U.S. retail diesel prices are up 74% year-over-year.
Stock Exchange
Bye, Amazon: analyst firm Wedbush removes the company's stock from its list of top ideas
Last week, the company reported worse than analysts expected, causing the stock to fall 14%. Amazon is struggling because of supply chain disruptions as well as rising wages around the world. According to analysts, the company's best years are behind it. The past decade has been an ideal
Finance
Not a single major European company has yet started paying for Russian gas in rubles
Russia's blackmail bets have failed. The big players have been in the market for years and know what to do, but several small European trading companies have started paying for Russian gas in rubles. Will this save Russia?
Finance
China aims to overtake U.S. GDP growth rate
Chinese President Xi Jinping told officials that the country's economic growth should surpass that of the United States this year, even despite the worst COVID-19 outbreak since the pandemic began. At the meetings, Xi said that ensuring stability and economic growth is very important, it is necessary to