TITAN Financial

2022-06-20 12:00:21 #quotes Open / Comment

2022-06-20 09:00:02 Klarna's valuation drops to $15 billion

Swedish payments company Klarna Bank AB intends to raise less capital than previously planned and at a much lower valuation of $15 billion.

The Stockholm-based company is currently in talks with investors to raise new funds totaling at least $500 million, which is half the amount previously planned to raise up to $1 billion.

Raising the financing would value the buy-now-pay-now (BNPL) company at about $15 billion, well below the $46 billion valuation in the funding round 12 months ago and the $30 billion mark discussed in May.

Klarna's valuation, which has been called Europe's most expensive startup in 2021, has been hit hard by soaring inflation and tighter monetary policy. Last month, the Swedish company announced it was laying off about 10% of its employees to cut costs, Bloomberg.

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2022-06-19 19:30:02 At avatar fashion store, Meta to sell virtual clothes for real money

Warren Buffett charity lunch was sold for a record $19 million

Denmark overtakes Switzerland as world’s most competitive economy

About a third of cars sold in India will be electric by 2030

China triples approvals for investment projects

#business_digest Open / Comment

2022-06-19 17:00:02 Binance CEO thinks it's a great time for acquisitions and hiring

Changpeng Zhao, co-founder and CEO of the world's largest crypto exchange, believes crypto-winter is a great time to increase investment in talent and acquisitions.

Zhao said Binance had been frugal and avoided big promotional spending like Super Bowl ads or acquiring the naming rights to sports venues. Competing exchanges have in recent times put their names on the Crypto com Arena and FTX Arena, which host various NBA franchises and other events. Coinbase also jumped on the Super Bowl bandwagon and has been a prominent sponsor across NBA games.

Binance is also looking to increase its investments in other companies, developing efforts such as its $200 million investment in Forbes, which it explained is a strategic move to help bring blockchain technology into more sectors, Bloomberg.

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2022-06-19 15:00:02 Musk sees logic in using cryptopayments on Twitter

Billionaire Elon Musk thinks it "makes sense" to integrate digital payments into Twitter.

"It makes sense to integrate payments into Twitter so that you can easily send money using the platform," said Elon Musk, speaking at a virtual gathering of all Twitter employees.

Musk's agreement to buy Twitter for $44 billion, despite some public hesitation to finalize the deal, the purchase appears to be proceeding, and Musk's presence at Thursday's meeting suggests a certain level of commitment.

Twitter has tried cryptocurrency before, including support for bitcoin in 2021 under then-CEO Jack Dorsey and adding support for ether earlier this year. Twitter was also the first company to try out a new program from payments service provider Stripe, which in April announced a feature that allows payments in USDC stablecoin through Polygon, Binance.

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2022-06-19 12:00:14 #quotes Open / Comment

2022-06-19 09:00:02 Paris Saint Germain fan token surpasses $15 billion in sales volume

Paris Saint Germain is the most popular global fan token thanks to the global soccer stars that represent the French club. According to Be[In]Crypto Research, PSG had a total sales volume of approximately $15.36 billion as of June 14.

This comes as a huge boost to the sales of global fan tokens after May’s monthly volume of $2.87 billion failed to surpass the yearly high of around $3.51 billion in March.

The transfer of global soccer megastar Lionel Messi from FC Barcelona to PSG in Aug 2021, coupled with the impressive performance of sales in April and May of the same year led to the spike in token sales of the club.

There was a 343% increase from March 2021’s $539.09 million to $2.39 billion in April 2021.

In August, token sales reached an all-time high of $4.19 billion, and this corresponded to a market capitalization in the region of $93.05 million, Binance.

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2022-06-18 19:30:01 Lego invests $1 billion in first U.S. plant amid rising sales

Sony, Honda sign JV to sell electric cars by 2025

U.S. economy has 40% chance of being in recession next year

China's budget deficit hits record high

Ukraine's farming industry lost $4.3 billion due to war

#business_digest Open / Comment

2022-06-18 17:00:03 Bidding for Warren Buffett's dinner reached a record $12 million

The latest day of bidding for a charity dinner with Warren Buffett got even more interesting.

As recently as Thursday night, the highest price for the opportunity to dine with the billionaire investor and seven guests at Smith & Wollensky restaurant in New York was just over $3 million. But at 11:03 a.m. Friday morning in New York, the amount more than tripled to $11 million and then rose to $12.3 million within half an hour.

Whoever won the bidding would easily break the record set in 2019 by cryptocurrency entrepreneur Justin Sun, who paid $4.57 million for lunch with the chairman and CEO of Berkshire Hathaway Inc.

This luncheon auction will be Buffett's last. The annual auction, which began in 2000 and was interrupted for two years during the pandemic, raised more than $34 million to support the Glide Foundation, which offers programs to fight poverty and homelessness, Bloomberg.

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2022-06-18 15:00:04 European car sales fall for 11th straight month in May

Europe’s new-vehicle sales slumped for an 11th consecutive month as record inflation and falling consumer confidence joined prolonged supply-chain disruptions.

Registrations fell 12.5% to 948,149 vehicles in May, the European Automobile Manufacturers’ Association said Thursday. Hardest-hit among major automakers was Volkswagen AG, which saw sales drop by more than 21% from the same month last year.

Forecasters at LMC Automotive cut their estimate for full-year Western European passenger-car sales again this month, the fifth time this year. They now expect 9.8 million deliveries this year, a 7.4% decline from 2021. In January, LMC predicted sales would grow by 9%.

Registrations fell by about 10% in both Germany and France, and by more than 20% in the UK, Bloomberg.

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