TITAN Financial

2022-06-02 15:00:11 Geely launches first nine low-orbit satellites for autonomous cars

China's Zhejiang Geely Holding Group conducted its first successful satellite launch on Wednesday, sending nine into low earth orbit as it builds out a satellite network to provide more accurate navigation for autonomous vehicles.

Geely expects another 63 to be in orbit by 2025 and eventually plans to have a constellation of 240.

While SpaceX uses its own rockets to launch its satellites, Geely used a Long March 2C rocket developed and operated by a Chinese state-owned entity to launch the nine.

In addition to providing high-precision positioning support for self-driving cars, the satellites can also provide communications services.

The satellites have an operating lifespan of five years and will disintegrate in earth's atmosphere without leaving any space debris, Reuters.

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2022-06-02 12:00:47 #quotes Open / Comment

2022-06-02 09:00:04 Buick will become an all-electric car brand by 2030

General Motors Co. will make all models of its Buick brand electric by 2030.

Buick plans to use electric cars sold under the new Electra sub-brand to market its electric vehicles and grow the brand, which sells fewer than 200,000 vehicles a year in the United States. Buick's domestic sales grew last year, but it was a much bigger force in China and less significant for GM at home.

Buick sells more than 800,000 cars a year in China.

Buick sells the electric Velite 6 and Velite 7 in China and is looking to add five new electric cars to the market by 2025.

Buick hopes electric cars will help attract a new type of customer, which has been a challenge. While 73% of Buick buyers come from other car brands, about 22% come from GM brands. The company hopes it will be able to attract more people who don't previously own GM-owned cars, Bloomberg.

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2022-06-01 19:30:04 Binance's venture capital arm created a $500 million crypto fund

Russian central bank plays down role of dollar and euro at home

RedBird swoops on AC Milan in $1.3 billion deal

China orders $120 billion credit line for infrastructure growth

Gazprom cut gas supplies to Orsted and Shell Energy

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2022-06-01 17:00:11 VW CEO says Tesla moves at double speed in changing industry

Volkswagen AG said Tesla Inc. is moving twice as quickly as the rest of the industry that needs to pick up the pace in the shift to making electric vehicles packed with software.

The U.S. carmaker is “moving very fast, very focused,” VW CEO Herbert Diess said Wednesday at the CAR Symposium.

Diess, spearheading deep reforms to make the VW behemoth more agile, often draws comparisons to the global electric car leader to push for efficiencies.

In the shift to electric cars, manufacturers are facing a complete overhaul of their supply chains with soaring prices for battery raw materials that risk undermining returns on electric cars. VW is working to secure a critical supply of raw materials and is considering direct contracts with mines in Africa, Bloomberg.

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2022-06-01 15:00:14 BNB network will become more decentralized, secure and fast

BNB Chain has unveiled its technical roadmap regarding the development of interchain interoperability, decentralization, governance, and much more.

BNB Chain has reached 2 million monthly users, twice as many as Ethereum currently has. Upcoming developments will focus on increasing first-level blockchain decentralization, introducing open-source applications to the Beacon Chain, and nearly doubling the number of validators thanks to the BEP-131 proposal.

The company expects that the changes will improve the balance between security and performance and increase transaction throughput.

Despite a significant decline in network activity in early 2022, BNB Chain continues to maintain its position as an industry leader and the most active blockchain network among Tier 1 blockchains, Binance.

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2022-06-01 12:00:33 #quotes Open / Comment

2022-06-01 09:00:04 New version of Luna shows extreme volatility

The new Luna token showed strong volatility just days after it was distributed to investors who owned the previous version of the cryptocurrency.

Different trading platforms showed different prices after the tokens were distributed on Saturday via "airdrop." Kraken data shows that the price opened at around $17 and fluctuated between $30 and $4.80. OKX had an opening price of $1, with extremes of $20 and $5. Luna 2.0 was up about 30% to $9 on Tuesday.

The extreme volatility of the new Luna stands out. Speculators are likely looking to make quick profits on an upward move, while holders of the previously bankrupt TerraUSD (UST) steblecoin and Luna tokens are trying to "fend off" losses of about $40 billion.

Analysts remain generally bearish on the new Terra blockchain, Bloomberg.

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2022-05-31 20:05:02 Meta will become Broadcom's next big client

SpaceX will join Tesla in accepting dogecoin ‘soon’

Russia’s biggest lender Sberbank targeted in EU sanctions plan

U.K. proposes increased protection for stablecoins after TerraUSD collapse

Gazprom says it will completely cut off gas supplies to the Netherlands

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2022-05-31 17:00:11 Share sales in Europe haven’t been this bad in nearly 20 years

IPO volume in Europe is at its lowest level since 2003 as turbulent markets, rising inflation, high interest rates and gloomy economic growth prospects force investors to avoid precarious investments.

Initial public offerings and follow-on deals have raised just $30 billion this year, the worst in nearly two decades, according to the data.

Russia's invasion of Ukraine undermined investors' already low appetite for risky investments.

The Cboe Volatility Index, known as Wall Street's fear indicator, traded at an average of 26 in 2022, well above the comfort zone of investors accustomed to a much softer average of 19 over the past five years.

Nonetheless, stock sales could rebound this year as investors retain an "appetite" for big, high-quality IPOs, Bloomberg.

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