Business – Page 17 – PressClub World

31. 7. 2022 No Responses

Miners Discover Largest Pink Diamond In 300 Years

Australian miner Lucapa Diamond Co. announced it had unearthed a 170-carat pink diamond, believed to be the largest recovered in centuries. Called the “Lulo Rose,” the 170-carat pink Type IIa diamond was discovered at the Lulo mine in Angola’s diamond-rich...

14. 7. 2022 No Responses

Crypto DeFi Lender Celsius Files for Bankruptcy

Cryptocurrency lender Celsius Network Ltd. filed for Chapter 11 bankruptcy. Celsius – the latest casualty of a $2 Trillion crash that has wiped out some of the industry’s biggest idiots and exposed hundreds of thousands of individual investors to steep...

5. 7. 2022 No Responses

Crypto lender Vauld freezes withdrawals, eyes restructuring

Vauld, a crypto lender backed by U.S. based Coinbase Inc., said it froze withdrawals and hired advisers to explore a potential restructuring, joining rivals Celsius Network, Babel Finance etc. in resorting to last-ditch measures to survive the crypto market cr...

4. 7. 2022 No Responses

Von Greyerz: Some numbers about the massive money creation

The massive money creation by central and commercial banks in this century has resulted in a growth of global assets from $450 trillion in 2000 to $1,540 trillion in 2020. Debt To GDP Growth As the chart below shows US...

2. 7. 2022 No Responses

FTX gains option to buy BlockFi for up to $240mln

Cryptoexchange FTX has also agreed to provide BlockFi with a $400 million revolving credit facility, Prince said in a tweet. He added that BlockFi has faced a jump in withdrawals after news of crypto lending platform Celsius Network’s freeze. Sam...

1. 7. 2022 No Responses

TSMC: Apple, AMD and Nvidia scale back chip orders

With the growing inflation and the uncertainties brought by the Ukrainian war, Smartphones and PC components are not selling that well anymore, so Apple, AMD and Nvidia are now forced to scale back their chip orders from TSMC, which, in...

30. 6. 2022 No Responses

Crypto hedge fund Three Arrows Capital Ordered to Liquidate All Assets After Defaulting on $675M Bitcoin Loans

The rapid collapse of the massive crypto hedge fund, which once managed $18 billion, marks one of the worst causalities of the crypto collapse so far. On Tuesday, the distressed crypto hedge fund was ordered into liquidation by a Virgin...

29. 6. 2022 No Responses

ECB Will Buy Italian, Greek Bonds Using Proceeds From German, French Bonds To Avoid Crash

Not that long ago analysts and media joked that the ECB’s cunning “market fragmentation” plan – which became critical after Italian bonds crashed when markets realized that QT is not, in fact, QE and without the ECB backstopping worthle...

28. 6. 2022 No Responses

Sri Lanka Asks Russians For Help, Suspends Fuel Sales Amid Economic Collapse

A broken and extremely cash-strapped Sri Lanka halted all fuel sales except for essential services in a desperate attempt to manage a severe fuel shortage — allowing the government to buy some time and send two government officials to Russia...

25. 6. 2022 No Responses

GS Supposedly Lead Group of Vultures to Buy Celsius after Bankruptcy

The Wall Street bank is seeking $2 billion in commitments from vulture investors to buy distressed digital assets at steep discounts if the crypto DeFi lender goes bankrupt. Goldman Sachs appears to be gauging interest and soliciting commitments from Web3...

24. 6. 2022 No Responses

Russia Will Pay Its Foreign Debts in Rubles

On June 23, Russian President Vladimir Putin signed a decree on the payment of foreign currency debt in rubles. Roughly speaking, transactions will be made through a ruble account at the domestic market rate. Payment of such debt on the...

23. 6. 2022 No Responses

FED: Banks could withstand 10% unemployment, 55% stock price drop in annual stress test

The Fed sees banks will have enough capital to keep lending even if unemployment rises to 10% under a hypothetical scenario. The Federal Reserve Board on Thursday projected the potential for a rockier road ahead for banks than it did...

22. 6. 2022 No Responses

ECB Emergency Meeting Creates Emergency

Were it not for the ECB calling an emergency meeting last Thursday, most market participants would not have realized there was an emergency in the bond market. Apparently, the sharp rise in yields on Italian bonds after the ECB stopped buying...

17. 6. 2022 No Responses

Musk Hit With $258 Billion Dogecoin Lawsuit

During his all-hands Q&A with Twitter employees, Elon Musk let slip a few details about his thoughts on crypto and payments within Twitter. After discussing subscription and advertising revenues, Musk notes that “I think payments would be an interest...

16. 6. 2022 No Responses

Siemens confirms it failed to return turbines to Gazprom

Russian gas supplies to Germany had to be reduced as a result. German conglomerate Siemens has confirmed that Ukraine-related sanctions imposed on Russia have made it impossible for the equipment supplier to return gas turbines to Gazprom after they were...

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