The US Stocks fall after Walmart’s profit warning, as it drags down other retail names.

On Tuesday, the US stocks fell after Walmart cut its earnings forecast. This sends other retail shares lower while causing concern that consumer spending may not be sufficient enough to put the US out of recession. Walmart agrees it has cut its quarterly and yearly profit estimates on Monday due to increasing food inflation, alarming […]

PepsiCo increases revenue forecast as it implements price hikes and smaller sizes to fight rising costs.

PepsiCo increases revenue forecast as it implements price hikes and smaller sizes to fight rising costs.

On Tuesday, PepsiCo increased its year revenue outlook as inflation raised prices while users paid more for its Gatorade drinks and Doritos chips. With the anticipation of rising higher costs in the second half of the year, the company plans to keep reducing product sizes and introducing other means to control rising expenses. According to […]

<strong>My garlic for homes, how China struggles to revive its property industry</strong>

My garlic for homes, how China struggles to revive its property industry

China’s real estate sector is struggling to recover as non-Covid policies, and developer debt wears down buyer’s demand. The food-for-property barter replicates rising desperation among property builders after a fall in the trade caused by Covid-19, financial slowdown, and central authority insurance policies. The property builders and provincial officers have been counting on 100mn city […]

Insurers will have to bear the risk of getting grain out of Ukraine

The Russian foreign minister, Sergei Lavrov, and the Turkey foreign minister, Mevlüt Çavuşoğlu, met in Ankara on June 8 to discuss a grain shipping deal.  This deal would create a way for ships to transport grain out of Ukraine. A deal like this would be great for the current state of food security globally. Lavrov and Çavuşoğlu discussed an […]

Broadcom acquires cloud service provider VMware for $61 billion 

Earlier this week, a report on Reuters announced Broadcom Inc‘s plans to acquire multi-cloud service provider VMware Inc for $60 billion.  The global chipmaker just made good on its plans. But this time, VMware was valued at $61 billion.   VMware was bought in a cash-and-stock transaction to help Broadcom venture into the enterprise software space. […]

Ex-Binance executives launch a $100M Crypto fund.

As the largest cryptocurrency exchange in the world, Binance is known for hiring the best. A group of former executives recently launched a $100 million venture fund.   This venture fund is called Old Fashion Research (OFR). It focuses on the Metaverse and was created to bring more Crypto adoption to regions with emerging markets.  These […]

Our stablecoin is now backed in part by non-US Government bonds- Tether

Tether, the issuer of the stablecoin, has claimed that its stablecoin is partially backed by non-US Government bonds. In its recent “attestation” report, the company equally said its holdings of U.S. Treasurys grew from 13% to $39.2 billion in the 2022 first quarter. For the amount of commercial paper, Tether fell from 17% to $20.1 […]

Jack Dorsey outlines Block’s bitcoin-centric future; Block is no longer just a payment firm.

On Wednesday, the Block executives, on its first investor day in five years, agreed that the company no longer wants to be seen as only a payment platform. The firm based in San Francisco held its investor day on Wednesday and made its case to Wall Street that its money app, Crypto, and music-streaming businesses […]

ARIANEE secures $21 million to ownership NFTs using physical luxury goods

Arianee, an NFT company in France, has secured $21 million in funding during a series A round led by Tiger Global.  With the amount, the company is set to partner with Sandbox on a project to boost customer relationship management (CRM) on the Metaverse.  Arianee’s Ethereum NFTs have gone through testing and acquisition by several […]

APPLE dethroned by Saudi  Aramco as the most valuable company

Saudi Arabian oil company, Aramco, has surpassed Apple by becoming the most valuable company. The development is a result of surging oil prices and increased shares while tech giant’s stocks keep plummeting.  Aramco is Saudi Arabia’s national petroleum and natural gas company. Currently, it’s viewed as the largest oil company in the world.  At the […]