Supreme Court Decline Appeal by J&J to Compensate Aggrieved Women $2.1B
U.S top court has rejected an appeal by Johnson & Johnson to pay $2.1 billion to women as ordered by a St. Louis jury, according to Bloomberg. The compensatory award…
Euro Area Inflation Expected to Jump to 2.0% in May. Unemployment Steadies
Annual inflation in the Euro area is expected to hit 2.0% in May, up from 1.6% in April, according to the Eurostat press release. Energy is projected to post the…
AMC Entertainment Surges 17% after Selling 8.5 Million Shares
Meme stock AMC Entertainment extended gains on Tuesday after raising $230.5 million from Mudrick Capital Management, according to CNBC. The money, raised through sale of 8.5 million shares, will be…
Eurozone Manufacturing Reaches a Record High Amid Supply Chain Headaches
Manufacturing PMI in the Eurozone hit a record 63.1 in May, from April’s 62.9, according to the IHS Markit press release. The activity came at the back of deteriorations in…
U.S Junk Bond Investors Exercise Caution as Inflation Pressures Mount
Rising inflation worries are resulting in a loss of momentum on U.S junk bonds, according to Financial Times. Additional yields for holding the junk bonds to U.S Treasuries were almost…
China’s Banks to Hold 7% Forex Reserves to Control Ballooning Yuan
Chinese banks will hold 7% of foreign currencies in reserves, according to Bloomberg. The rate is a 2% increase and is the first in ten years aiming to counter the…
Brent Surpasses the $70 Mark ahead of OPEC+’s Crucial Output Meeting
Brent oil rose past the $70 a barrel level after OPEC+ said it expects tightening of the global market, reports Bloomberg. OPEC+ says surplus oil accumulated during the pandemic has…
Futu and Tiger Defy Crypto Crackdown in China in International Expansion
China’s Futu and Tiger Brokers are seeking a Singapore and U.S license to avail trading in digital tokens, according to CNBC. The companies, set to rival stock trading app Robinhood,…
China to Allow Couples Have 3 Children as Concerns of Aging Population Mount
China has eased the current two-child restriction to allow couples to have a third child, according to Bloomberg. The move is aimed at slowing the country’s dwindling birth rate as…
Ripple Wins Another Court Battle with SEC as it Eyes Listing
U.S District Court has declined SEC’s request for a legal advice submitted by embattled crypto network Ripple, according to Cointelegraph. The legal advice memo discusses XRP sales with the company…
A Heightened Level of Risks Posts a Challenge to China’s Economic Rebound
China gave an optimistic economic activity stabilization in May but faces a lot of challenges ahead, according to SCMP. A heavy level of risk has been created by high commodity…
Druckenmiller Interview: Valuations, Bitcoin Wins Ether and Inflation
Investing legend Stanley Druckenmiller believes great investors don’t follow the conventional wisdom of diversification, The Hustle reports. They make concentrated bets where they are most convinced to reduce the overall…
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