HSBC Believes That $22 Billion Byju’s Is Now Worth Zero
HSBC, in a recent assessment of the company, revealed that it believes the $22 billion Byju’s is now worth zero, citing financial mismanagement, missed sales targets, governance issues, and the exit of key auditors and board members. In a recent research report, HSBC calculated that the $22 billion valuation of the Indian edtech behemoth Byju’s […]
Who Is Buying The $12 Billion Saudi Aramco Shares?
Saudi Aramco’s $12 billion share sale last Sunday, selling 1.545 billion shares at 26.70-29 riyals each, saw immediate success, attracting keen interest from global investors. In a filing with the Saudi Exchange last week, Saudi Aramco (ARMCO), the country’s largest energy corporation, announced its intention to sell shares in the state-owned oil company to raise […]
India To Buy Russian Oil In Roubles
Reuters has reported that Indian company Reliance Industries will buy Russian oil in roubles and is also able to acquire the oil at a discount. Four people with knowledge of the situation told Reuters that Russia’s Rosneft and India’s Reliance Industries, which runs the largest refining complex in the world, have agreed on a one-year […]
India’s Cenbank Moves 100 Tons Of Gold From UK To Domestic Vaults
According to the Times of India, India’s central bank, the RBI, has moved 100 tons of gold from the UK to domestic vaults because the stock was increasing abroad. A little over 100 metric tons of gold have been transferred by India’s central bank from the United Kingdom to its vaults, according to a report […]
Russian Firms Adopt Stablecoins In Cross-Border Transactions With Chinese
After several Russian banks were barred from the SWIFT messaging system, Russian firms have started adopting the stablecoin USDT from Tether Holdings Ltd. in cross-border transactions with Chinese businesses. Following the revelation in a recent Bloomberg report that Russian commodities companies are using fiat-pegged digital currencies to conduct cross-border transactions with Chinese rivals, the stablecoin […]
Wall Street Sees Ethereum Hitting $14,000 In 2025
Wall Street anticipates Ethereum reaching $14,000 by 2025, as BlackRock’s dominance in cryptocurrency ETFs grows, with Larry Fink shifting focus to tokenizing ether following recent approval of a spot ETF. Just over a week after Grayscale CEO Michael Sonnenschein abruptly resigned amid persistent, relentless outflows (thanks to GBTC’s 1.5% in fees), and a month and […]
Moderna’s Stock Soars As US Government Pours Millions Into Secret Bird Flu Vaccine Trials
Moderna’s stock surges as the US government invests millions in covert bird flu vaccine trials, amid concerns over H5N1’s spread and potential human-to-human transmission ahead of the presidential elections. In the New York premarket trading session, Moderna’s shares have increased by nearly 4% in response to a Financial Times report stating that the US government […]
How Much Will It Cost For The Largest Deportation Operation In American History
According to the findings of a Penn Wharton Budget Model (PWBM) analysis, the cost of the largest deportation operation in American history could easily exceed $1 trillion over 10 years. This year, the Republican party appears committed to a plan for the mass deportation of undocumented immigrants, having secured the endorsement of a well-known Republican […]
60% Of Greeks Live In Fear About Their Financial Future
According to survey data conducted by Statista’s Consumer Insights, 60% of Greeks live in fear about their financial future. In light of the recent spike in inflation and the cost of living crisis, many households are beginning to examine their bank balance with anxiety. Survey results from Statista’s Consumer Insights show that this sentiment is […]
The Start Of De-Dollarization: China’s Move Away From The USD
Recent findings from the Hinrich Foundation indicate that China’s shift away from the USD signifies the commencement of de-dollarization. Furthermore, data reveals that the percentage of settlements conducted in RMB has now exceeded those in USD. Like many other nations, China has settled the majority of its cross-border payments in US dollars (USD) since 2010. […]