Elon Musk Offloads Additional $687 Million Worth of Tesla Shares
(Reuters) Tesla CEO Elon Musk has sold about $687 million worth of the company’s stock, days after selling another $5 billion. The share sale was made on November 11 through…
Coupang’s Q3 Net Revenue Jumps by 48% as Ad Earnings Almost Triples
(Coupang) Coupang Inc. registered total revenues of $4.6 billion in the third quarter of 2021, a jump of 48% from the prior year. The company’s advertising revenue almost tripled from…
Xpeng Jumps 10% on Prospects of a Debut of New Sports Utility Vehicle Next Week
(CNBC) Shares of Chinese electric maker Xpeng rose more than 10% in Hong Kong on Friday after the company teased a new sports utility vehicle. The utility vehicle, set to…
Toshiba Aims to Split Into 3 Entities Amid Investor Discord
(FT) Conglomerate Toshiba Corporation is planning to split the company into three entities and shelving calls to take the whole company private. Upon split, one division will hold the company’s…
AMC Users can Now Purchase Tickets Using BTC, ETH, Litecoin, and Bitcoin Cash
(Twitter) Cinema giant AMC Entertainment has started accepting Bitcoin, Bitcoin Cash, Ether, and Litecoin as payment options for ticket purchases. CEO Adam Aron says Dogecoin would be the next to…
OPEC+ Downgrades Q4 2021 Oil Demand by 330k Bpd on Elevated Energy Prices
(OPEC) OPEC+ is forecasting that oil demand will average 99.49 million barrels per day in the fourth quarter of 2021, down 330,000 bpd from October's forecast. OPEC+ cites high energy…
Twitter Establishes Team to Develop Crypto, DeFi Solutions
(CryptoPotato) Social media giant Twitter is establishing a team that will focus on developing solutions for cryptocurrencies, and other decentralized technologies. The team will be led by Engineer Tess Rinearson,…
Evergrande Lifts Chinese Property Stocks After Settling a Last-Minute Bond
(Reuters) Chinese property developer Evergrande Group has reportedly paid several bondholders everting a looming default on overdue coupons. The paid coupons relate to three bond tranches worth at least $148…
UK GDP Eases to 1.3% Growth in Q3 as Trade Deficit Widen
(ONS) UK’s economy is estimated to have grown by 1.3% in the third quarter, after a jump of 5.5% in the previous quarter on growing output after the easing of…
Beyond Meat Widens Losses in Q3 2021. Stock Tumbles 18%
(Beyond Meat) Shares of Beyond Meat fell more than 18% on Thursday premarket trading after third-quarter net loss widened to $54.8 million from $19.3 million in the prior year. Depressed…
Elon Musk Sells $5 Billion Worth of Tesla Stock
(Reuters) Tesla CEO Elon Musk has sold shares worth almost $5 billion in the company, days after fans urged him to unload 10% of his holding via a Twitter poll.…
Bitcoin Touches ATH of Almost $69,000 as US Inflation Jump Fuels Cost Concerns
Bitcoin rose 1.9% to a record $68,991 as US consumer prices rose at the fastest annual rate since November 1990. Bitcoin’s surge on high inflation in the US reflects the…
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