CareTech will return to private ownership via a partnership led by its co-founders. Shareholders will receive 750p per share, a 23 percent premium over the stock’s Friday closing price. The successful offer from Amalfi trumps an offer from private equity firm DBAY. CareTech has agreed to return to private ownership via a partnership led by … Read more
Luxottica founder Leonardo Del Vecchio passed away at the age of 87. He amassed a fortune of more than €24bn to become Italy’s second-wealthiest individual. In April, he sided with Francesco Gaetano Caltagirone in a vicious struggle for control of Generali. Leonardo Del Vecchio, the creator of eyewear firm Luxottica, has passed away, according to … Read more
The wealthiest oligarch in Ukraine sues Russia over asset seizures. Rinat Akhmetov filed a complaint against Russia in the European Court of Human Rights. The lawsuit seeks “immediate relief for Russia’s blockade, looting, destruction, and diversion of grain and metals”. Rinat Akhmetov, the wealthiest oligarch in Ukraine, has filed a complaint against Russia in the … Read more
Russia was unable to pay almost $100 million in interest on two government bonds by Sunday night. Western sanctions prevented Moscow from purchasing foreign currency to pay bondholders. Russia is awash with foreign currency from oil and gas sales and has repeatedly attempted to make payments on its debt. The Kremlin has disputed reports that … Read more
UK food standards watchdogs warn of potential food safety mishaps after Brexit. Urge UK government not to delay implementation of post-Brexit border controls on food imported from EU. No evidence that the quality of food imports has declined since Brexit, according to a study. Due to the potential for food safety mishaps, food standards watchdogs … Read more
The subpoenas wanted a range of documents, including “communications with or about certain individuals,” the company said. US regulators were already probing Digital World for information on trade. Donald Trump’s efforts to merge his media empire with a blank-check corporation have taken another hit when it was revealed that a federal grand jury has sent … Read more
Stoxx Europe 600 index was up 0.6% by early afternoon in London, following its first weekly rise in a month. FTSE 100 in London and the Xetra Dax in Frankfurt each gained 0.7%. Wall Street’s benchmark S&P 500 index will maintain its 3.1% gain on Friday and advance 0.5%. European shares and US stock futures … Read more
Credit Suisse is first Swiss bank to be found guilty of corporate crime. First time a Swiss-owned and -domiciled bank has been prosecuted criminally. On Monday, Credit Suisse became the first Swiss bank to be found guilty of corporate crime by the country’s authorities, in a landmark court ruling on the laundering of Bulgarian drug … Read more
G7 prepared to consider energy price restrictions to limit Russian earnings. Leaders will examine the “feasibility” of placing temporary price controls on energy imports. A US-led campaign for a cap on the price of Russian oil has received support from G7 countries in recent months. During a conference that has been overshadowed by fears of … Read more
Coinbase recently unveiled a business overhaul and laid off 18 percent of its workforce. The exchange also rescinded existing job offers to would-be new starters. First-quarter earnings revealed $430mn in net losses. Goldman Sachs: “Coinbase will need to make substantial reductions”. Nike bettered Wall Street expectations for its most recent quarter, recording narrower-than-anticipated declines in … Read more
Coinbase recently unveiled a business overhaul and laid off 18 percent of its workforce. The exchange also rescinded existing job offers to would-be new starters. First-quarter earnings revealed $430mn in net losses. Goldman Sachs: “Coinbase will need to make substantial reductions”. Goldman Sachs has hinted that Coinbase may face additional layoffs as a result of … Read more
France’s Emmanuel Macron advocates for an increase in global oil production. G7 leaders are discussing how to reduce energy costs and tame inflation. France wants to reinstate Venezuelan and Iranian production, which are subject to US sanctions. The French president is also pushing for a price ceiling on Russian oil. Emmanuel Macron advocated for an … Read more
19% of US midsize companies are positive about the national economy over the next year. This is a record low in the 12-year history of the study by JPMorgan Chase. In comparison to a year ago, economic pessimism increased from 10% to 51%. According to a study by the nation’s largest bank, a record-low percentage of … Read more
About 1,500 workers at 114 Crown post offices will strike for one day on July 11. Communication Workers Union members rejected a salary offer of 3% plus a £500 lump sum. Earlier strikes occurred throughout the Jubilee bank holiday weekend and earlier in the spring. Next month, UK postal employees in the United Kingdom will conduct … Read more
Boris Johnson says G7 can strike a balance between defending common values and conducting business with China. “It may be difficult but that’s what we have got to try and do,” British PM says of G7 meeting in Germany, he says. WASHINGTON (Reuters) – It is possible to strike a balance between defending common values … Read more
Cryptocurrency is experiencing unprecedented volatility, but options traders are observing bullish market signals. After the market crash, Bitcoin options hint at good indicators, say traders. According to Chris Bae, CEO, and co-founder of EDG, bid-ask spreads are appropriate. Cryptocurrency is experiencing unprecedented volatility, but options traders are observing bullish market signals in the wake of … Read more
Economic Daily warns Bitcoin price is “going to zero” as a result of global economic crisis. Bitcoin hovered around $21,000 per digital coin on Saturday. A significant decline from its all-time high of $68,000 in November of last year. Economic Daily, a Chinese state-run publication, has cautioned investors that the price of the major cryptocurrency … Read more
Gustavo Petro, Colombia’s new president vows to protect the rainforest. He has ambitious plans to halt the Amazon’s high rates of deforestation. In 2021, 98,000 hectares (240,000 acres) of virgin forest in the Colombian Amazon were lost to deforestation. Gustavo Petro, Colombia’s first elected leftist president, will assume office in August with ambitious plans to … Read more
Bangladesh’s longest bridge will open to the public on Sunday. The 4.04-mile-long (6.51-kilometre) bridge across the Padma River cost an estimated $3.6 billion. Padma Bridge will boost the country’s economic growth by 1.3% per year, according to experts. Saturday, Sheikh Hasina, the prime minister of Bangladesh, celebrated the opening of the country’s longest bridge, which … Read more
US stocks are on course for worst first half of the year in more than half a century. Bonds, which investors rely on to offset stock market drops, have performed poorly. US bond market is down 10.8 percent year-to-date, putting it on pace for its worst performance. With US stocks on course for their worst … Read more
Heads of energy giants in France urge citizens to limit use of fuel, oil, electricity, and gas. European energy system has been under significant strain for months. Gas stocks across the continent are in a state of high alert, and rationing procedures have been implemented. Sunday, the heads of three energy companies in France urged the … Read more
Senior U.S. officials visit Sri Lanka in an effort to identify ways to assist the island nation. Sri Lanka is facing an unprecedented economic crisis and severe shortages of key commodities. Prime Minister Ranil Wickremesinghe declared that the economy had “collapsed”. Senior U.S. officials have arrived in Sri Lanka in an effort to assist the … Read more
A number of countries in Asia are experiencing their greatest energy crisis in years. There is also growing unrest and instability due to the rising cost of living. Even relatively wealthy nations such as Australia are feeling the squeeze of increased energy costs. The Australian government has suspended the national electricity market indefinitely. Asia: In … Read more
All G7 nations are concerned about impending economic crisis as GDP slows and inflation increases, Scholz says. Falling growth rates in some countries, rising inflation, raw materials shortages, disrupted supply changes. German Chancellor: “All members are concerned”. SCHLOSS ELMAU, Germany (Reuters) – After a session on the global economy at this year’s annual G7 conference, … Read more
Madonna celebrated New York Pride on June 23 at Terminal 5. She brought out a bevy of top-tier drag queens for her NYC Pride party. Madonna was joined by rappers, drag queens, and family for a run-through of “Celebration”. Madonna, a longtime LGBTQ ally and honorary gay, celebrated New York Pride on June 23 at … Read more
Abortion pills might be delivered to your home or a lawful address in a neighboring state. Telehealth clinics, such as Just The Pill and Choix, are able to prescribe the medication via online consultation. A photo ID and selfie are necessary to verify your identity in order to receive the medications. After the Supreme Court … Read more
The purchase of a North Dakota potato farm for $13.5 million has sparked controversy and legal inquiry. Red River Trust is affiliated with Bill Gates, the largest owner of farmland in the United States. State law prohibits corporations, limited liability companies, and trusts from farming or ranching. Bill Gates, the wealthiest philanthropist in the world … Read more
Friday, Meta instructed its employees not to discuss the Supreme Court’s decision in Roe v. Wade. Messages in team discussions that violated the policy were deleted, according to The New York Times. A Meta software engineer stated on LinkedIn that the policy “explicitly disallows” the topic of abortion. The New York Times stated that Meta … Read more
