TITAN Financial

2022-06-18 12:00:14 #quotes Open / Comment

2022-06-18 09:00:06 Ray Dalio’s Bridgewater builds $5.7 billion bet against European stocks

Ray Dalio’s Bridgewater Associates has emerged as the biggest short seller of European stocks, wagering more than $5.7 billion against them in a bid to profit from a potential decline in value.

The investment by the world’s biggest hedge fund firm includes a $1 billion position against semiconductor manufacturer ASML Holding NV and a short wager on TotalEnergies SE worth about $752 million. The firm has raised its short bets in the region this month to 18 companies.

Shorting equities is a tried-and-tested strategy for Bridgewater. Its $14 billion bet against European companies in 2020 also included a short against ASML, and the firm drew attention in 2018 after putting on a $22 billion wager against stocks in the region.

Bridgewater, which manages about $150 billion in assets, is the biggest short-seller in Europe, based on the value of its positions, Bloomberg.

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2022-06-17 19:30:05 Google's Russian subsidiary files for bankruptcy

Viasat warns of satellite collisions in spat with SpaceX

Ferrari predicts profit growth and plans to increase investment in electric cars

Russian gas flows to Europe plummet, hampering attempt to replenish storage capacity

Gazprom Germania will use $10 bln loan to regain market position

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2022-06-17 17:15:01 More than 100 EU companies still operating in Russia

More than 100 companies from European Union countries continue to operate in Russia nearly four months after the invasion of Ukraine sparked a range of international sanctions against Moscow.

The 116 EU companies make up nearly half of the 247 multinational firms still doing business in the country despite mounting public pressure to punish President Vladimir Putin’s regime for the attack, according to research at the Yale Chief Executive Leadership Institute.

The study follows a report by a state-affiliated Russian think-tank, which said last week that more than half of the 5,000 foreign companies working in the country had announced no restrictions on their local operations and continue to employ 2 million people. Only 90 companies, mainly in the consulting and IT sectors, have liquidated their businesses and transferred employees to other countries, Bloomberg.

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2022-06-17 16:03:14 Musk, Tesla and SpaceX are sued for alleged Dogecoin pyramid scheme

Elon Musk, SpaceX and Tesla Inc. were sued for $258 billion over claims they are part of a racketeering scheme to back the cryptocurrency Dogecoin.

American citizen Keith Johnson, "who was defrauded out of money by the Dogecoin crypto-pyramid scheme created by the defendants," sued Musk and his companies, claiming they constitute an illegal racketeering enterprise to inflate Dogecoin’s price.

Johnson is seeking to represent a class of people who have lost money trading in Dogecoin since April 2019. He is asking for $86 billion in damages, plus triple damages of $172 billion, as well as an order blocking Musk and the companies from promoting Dogecoin, and declaring that Dogecoin trading constitutes gambling under US and New York law.

Dogecoin traded at about 5 cents on Thursday and has fallen about 67% so far this year, Bloomberg.

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2022-06-17 12:00:27 #quotes Open / Comment

2022-06-17 09:00:04 Stablecoins still suffering from crypto market volatility

Stablecoin market cap fell to $156.8 billion on Thursday, down from $181 billion in early May.

Tether, the world's largest stablecoin, briefly lost its peg to the U.S. dollar on Wednesday and fell to $0.993, but quickly regained parity.

Concerns about reserve-backed Tether's exposure to negative market sentiment, as well as ongoing concerns about its reserve assets, have caused it to lose more than $5 billion in market value in the past 30 days.

However, Tether's market capitalization is still above $70 billion.

USDD, the algorithmic stabelcoin of the Tron smart contracts platform and the ninth-largest stabelcoin by market capitalization, lost its peg to the dollar on Monday, at one point falling to $0.96, under an influx of short positions against the cryptocurrency, Reuters.

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2022-06-16 19:30:06 Binance's $200 million Forbes deal is 'changing'

McDonald's to pay $1.3 billion to settle tax cases in France

Netflix announces "The Squid Game" reality show with a $4.56 million prize

Russia needs to focus economy on domestic market, Central Bank chief says

Fed plans biggest key interest rate hike since 1994

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2022-06-16 17:00:07 Apple named world’s most valuable brand

Apple Inc. reclaimed its title as the world’s most valuable brand, knocking rival Amazon com Inc. off the top spot for the first time in three years.

The iPhone maker’s brand value reached $947 billion this year, while Amazon slipped to third, according to Kantar’s survey published Wednesday. Apple was last ranked the most valuable brand in 2015.

Louis Vuitton, the fashion label owned by LVMH SE, become the first luxury brand to reach the Top 10 after experiencing 64% growth in value to $124.2 billion. Tesla Inc. jumped 18 positions to 29th place, becoming the top car brand due to a surge in interest in electric vehicles.

Apple notched close to 800 million subscribers in 2021 to services including entertainment and cloud, and its movie “CODA” this year became the first film from a streaming service to win Best Picture at the Oscars. Even so, its share price has fallen 25% so far in 2022, Bloomberg.

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2022-06-16 15:00:11 Robinhood’s stock is now worth less than its cash on hand

Robinhood Markets Inc. shares slumped to a fresh low on Wednesday, giving the beleaguered brokerage a market value that’s less than the cash on its balance sheet.

After posting more than $3 billion of losses since its initial public offering in late July, Robinhood’s shares have plunged more than 80%, cutting its market capitalization to as low as $5.99 billion. The firm had $6.19 billion of cash and cash equivalents at the end of the first quarter.

Monthly active users plunged 39% from a year earlier. The firm is also trading at about 85% of its book value, down from more than 500% at the end of September.

The firm is expected to post a $314 million loss for the second quarter ended June 30 and more than $1.25 billion for the full year, according to the average estimate of analysts, Bloomberg.

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