Wuhan City Is Bankrupt
According to a statement published by the official Changjiang Daily newspaper on Friday, Wuhan City’s finance bureau announced that a total of 259 companies owed it more than 100 million yuan ($14 million) combined, leading it to declare bankruptcy. Wuhan, the largest city in central China, has publicly demanded that hundreds of local companies repay […]
Pakistan Welcomes First Direct Cargo Ship From Russia
Pakistan’s Federal Minister of Energy, Khurram Dastagir, Minister for Maritime Affairs, Faisal Subzwari, and Consul General of Russia, H. E. Andrey Viktorovich Fedorov, welcomed the first direct cargo ship from Russia. On May 25, a landmark event took place in Pakistan’s southern port city as the Russian cargo vessel arrived at Karachi International Container Terminal (KICT) marking […]
“Unnamed Banker” At First Republic Earned More Than J.P. Morgan CEO Dimon Last Year
According to Bloomberg, an unnamed banker at First Republic earned more than J.P. Morgan CEO Jamie Dimon last year. This year? Probably not so much… We once thought JP Morgan was happy to agree to take on the carcass of First Republic Bank because it could get billions in deposits and assets for pennies on […]
US Corporations Are Filing For Bankruptcy At The Fastest Pace Since 2010
According to figures compiled by bankruptcydata.com, US corporations are filing for bankruptcy at the fastest pace since 2010. As per the data, twenty-seven large debtors have filed for bankruptcy. One would not know it from looking at the S&P which just hit a 2023 high, but there is a bit of a bankruptcy crisis sweeping […]
Black Lives Matter Headed For Insolvency
Financial disclosures obtained by The Washington Free Beacon have revealed that Black Lives Matter is headed for insolvency. Black Lives Matter’s national organization is at risk of going bankrupt after its finances plunged $8.5 million into the red last year – while simultaneously handing multiple staff seven-figure salaries. Financial disclosures obtained by The Washington Free Beacon show […]
Inside The Black Market Of Rs 2000 Notes
An India Today investigation on Bansal & Sons Jewellers store located in Delhi’s Chandni Chowk has discovered the black market of Rs 2000 notes. Certain bullion traders are providing dubious services to exchange the 2,000-rupee notes, effectively assisting individuals with undisclosed money in getting rid of their high-value banknotes at a significantly reduced worth or even swapping […]
UN Helping Russian Bank With SWIFT Bypass
According to UN spokesman Stéphane Dujarric, the UN is assisting a Russian bank with a SWIFT bypass after it was disconnected as part of Ukraine-related sanctions last year. The UN continues to work on ensuring that Russia’s requirements in the Black Sea grain deal are implemented, including the removal of obstacles for banking operations involving […]
China Is Kicking America’s Ass In The EV Battery Race And It’s Going To Define The 21st Century
China is kicking America’s ass in the EV battery race, which is causing significant damage to the domestic battery sector. This trend will likely result in companies like GM and Ford losing their international status. It’s going to define the 21st century. In recent years, the relationship between the US and China — the world’s […]
The Five Stages Of Bank Failure
Real Vision’s Raoul Pal said that the Five Stages of Bank Failure are similar to the five stages of grief: denial, anger, bargaining, depression, and acceptance, as described by Elisabeth Kübler-Ross. The talking heads on financial TV ask everyday where we are in the banking crisis. Is it over yet? After scooping up First Republic, […]
A Mystery Buyer Just Purchased Entire California Ghost Town Eagle Mountain For $22.5m
A mystery buyer just purchased the entire California ghost town of Eagle Mountain, which was formerly a company town for Kaiser Steel, for $22.5 million. A road diverges in the yellow flats along the outer rim of Joshua Tree National Park. The two lanes in the middle of the desert peel off Interstate 10, about […]