UK Public Sector Borrowing Plunges by an Annual £4.9 Billion in November
(ONS) The UK recorded a total of 17.4 billion pounds in public sector net borrowing in November, a 4.9 billion pounds decline from the prior year. The borrowing rate in…
Ethereum Prepares for Proof-of-Stake Consensus With the Launch of Kintsugi Testnet
(Ethereum Foundation) The Ethereum Foundation has announced the launch of the Kintsugi testnet as it works to welcome the proof-of-stake, effectively replacing the proof-of-work consensus mechanism. Ethereum Foundation member Tim…
Semiconductor Billings Jump by an Annual 50.6% in November
(SEMI) Semiconductor equipment manufacturers in North America recorded worldwide billings of $3.93 billion in the three months to November, an increase of 50.6% from the prior year. On a month…
Nike Revenues Rise 1% in Q2 2022 to Beat Estimates
(Nike Inc.) Nike Inc. posted revenues of $11.36 billion in the second quarter of 2022, 1% above last year, beating the expected $11.25 billion. The company’s direct sales rose 9%…
Ray Dalio’s Secret Ties With Beijing and Growing Discord Back Home
(Bloomberg) For over a decade, an invitation of the Chinese Communist Party officials to the Bridgewater Associates has remained a secret for Ray Dalio, who has held strong ties with…
S&P 500 Price the Omicron Variant With the Biggest Three-day Slump in 6 Months
(Bloomberg) Losses sustained in industry-wide rout led by commodity and financial markets are setting the US S&P 500 for the biggest three-day losses since May. The S&P 500 extended declines…
China’s Uptake of EVs in 2021 Boom as Sales Almost Triple From Last Year
(WSJ) New-energy passenger vehicles that include plug-ins boomed in 2021, with sales in the first eleven months of the year almost three-fold from last year. New-energy vehicle sales for November…
Dubai World Trade Centre Vies to Become a Crypto Hub With Comprehensive Rules
(Government of Dubai) The Dubai World Trade Centre has announced it will come up with a compressive ecosystem to make it a hub for crypto and protect investors. The new…
China Seeks Buyouts of Troubled Developers in a Bid to Avert Financial Instability
(Reuters) Chinese regulators are requesting the state-owned property entities and large players in the private sector to acquire in-crisis developers to avert risks to the economy. In line with the…
Novavax Jumps on Reports It Could Start Covid-19 Supplies to the EU Early Next Year
(Reuters) Shares of Novavax rose more than 10% in pre-market on Monday on reports that it will begin deliveries of Covid-19 vaccines in the EU in the first quarter of…
Moderna Announces Promising Results of Booster Covid-19 Dose Against Omicron
(Moderna) Moderna Inc. has announced that the currently authorized 50 µg booster dose increased neutralizing antibodies against the Omicron by about 37 times. The 100-µg dose raised the neutralizing antibodies…
Erdogan Sends Lira to Another Low as he Defies Calls Against Lower Rates
(FT) The Turkish lira traded at above 17 per dollar on Monday as investors digested President Tayyip Erdogan’s comments that he was not turning back on his moves to lower…
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