Seven Russian Banks to Be Cut Off From the Swift Network – EU
(CoinDesk) The European Union has voted to prohibit access to the SWIFT system by seven Russian banks. The move will become effective on March 12, 2022, with the bloc using…
Ford Announces Split Into Electric and Auto Units
(Ford) Ford Motors is reorganizing its operations by separating electric and internal combustion businesses into distinct units to unlock value. The move by Ford is geared towards scaling its electric…
AMC Revenue Tops $1Billion in the Fourth Fiscal Quarter 2021
(AMC) AMC Entertainment Holdings reported total revenue of $1.172 billion in the fourth quarter of 2021, up from $162.5 million in the prior year. For FY21, AMC revenues were $2.53…
UK House Prices Hits a Record After a 1.7% Increase in February
(Nationwide) The average house prices in the UK rose past 260,000 pounds in February, a record, after a 1.7% increase on a monthly basis from January. On an annual basis,…
SoFi Stock Soars as Quarterly Revenue Hits a Record After 54% Increase
(SoFi) Shares of SoFi Technologies rose more than 18% on Wednesday after reporting an adjusted record net revenue of $279.88 million in Q4 2021, up 54% from the previous year. …
IEA to Go for Emergency Crude Stocks as Oil Tops $100 Due to Ukraine Crisis
(Bloomberg) The International Energy Agency has agreed with other major economies to engage in a coordinated release of oil stockpiles following price rises above $100 a barrel. The IEA agreed…
US Manufacturing Output Improves in February Amid Easing Supply Chain
(IHS Markit) The US Manufacturing Purchasing Managers’ Index was recorded at 57.3 in February, accelerating from 55.5 in January. The increase in manufacturing activity reflected a sharper rise in new…
Target Corporation Soars 13% as FY21 Revenue Tops $100 Billion
(Target) Target Corporation stock rose 13% as its revenue in the fourth quarter of 2021 improved by 9.4% to $30.996 billion. Following the quarterly revenue increase, the total sales in…
Xpeng Deliveries Rise by 180% in February 2022
(Xpeng) Chinese electric vehicle maker Xpeng Inc. delivered 6,225 vehicles in February, representing a year-over-year increase of 180%. The deliveries in February consisted of 3,537 P7 smart sport sedans, 2,059…
Li Auto Stock Jumps 10% As Deliveries Rise 266% In February 2022
(Li Auto) Shares of Li Auto Inc. rose more than 10% on Tuesday after the company reported 8,414 vehicle deliveries in February, an increase of 265.8% from the prior year.…
Ukraine Unveils Plan For a “War Bond” in Support of Its Military
(FT) The Ukraine finance ministry says it plans to float a “war bond” to raise funds for its defense forces as it wrestles the Russian invasion. The government, through the…
Bitcoin Whales Rise 5% as Market Speculate Impact of Sanctions
(The Block) Bitcoin wallet addresses hoarding more than 1,000 BTCs rose almost 5% on the last day of February to reach a total of 2,226. The number is the highest…
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