Month: May 2022
Fiji seizes $300 million superyacht belonging to Russian oligarch Suleiman Kerimov
The 106m-long and 18m-high super luxury motor yacht Amadea, one of the largest yacht in the world is seen after anchored at pier in Pasatarlasi for bunkering with 9 fuel trucks, on February 18, 2020 in Bodrum district of Mugla province in Turkey. Anadolu Agency | Getty Images Fijian authorities seized a $300 million superyacht […]
Read More
Binance is backing Elon Musk’s Twitter acquisition — here’s why it’s a big deal for crypto enthusiasts
Binance is the world’s largest crypto exchange, handling billions of dollars in trading volumes on a daily basis. STR | NurPhoto via Getty Images Bitcoin exchange Binance’s move to participate in Elon Musk’s $44 billion takeover of Twitter could boost digital currency evangelists’ hopes for the development of a more “decentralized,” crypto-friendly social media platform. […]
Read More
Despite the Fed’s big rate boost, most banks will still pay paltry interest rates
Jerome Powell, Federal Reserver Governor. Katie Kramer | CNBC The Federal Reserve just raised its benchmark interest rate by half a percentage point, its largest such move in more than two decades, as it seeks to tame inflation. The central bank’s actions mean that, in an era of sharply rising prices for everything from food […]
Read More
Elon Musk expected to serve as temporary Twitter CEO after deal closes
Elon Musk talks at the Automotive World News Congress at the Renaissance Center in Detroit, Michigan. Rebecca Cook | Reuters Elon Musk is expected to serve as a temporary CEO of Twitter for a few months after he completes his $44 billion takeover of the social media company, sources told CNBC’s David Faber. An SEC […]
Read More
Tesla bull Ron Baron says Musk got an ‘incredibly cheap’ deal on Twitter
Ron Baron Cameron Costa | CNBC Ron Baron, one of Tesla’s largest shareholders and CEO of Baron Capital, suggested Thursday that Musk got a good deal on his Twitter acquisition, after earlier calling the Tesla CEO’s involvement in the company “meaningless.” In a statement to CNBC’s Becky Quick, Baron said that, after doing two days […]
Read More
SpaceX adds $25 monthly fee for users to temporarily change Starlink locations
Elon Musk’s SpaceX rolled out a $25 monthly fee this week for customers who seek to relocate their Starlink internet service satellite dishes. “Portability enables customers to temporarily move their Starlink to new locations and receive high-speed internet anywhere Starlink provides active coverage within the same continent,” SpaceX wrote in an email to customers on […]
Read More
Rising interest rates mean higher loan costs when you go to buy a car. Monthly payments already average $650
Newsday Llc | Newsday | Getty Images On top of elevated prices for new and used cars, financing the purchase of one is about to get more expensive. With the Federal Reserve boosting a key interest rate by half a percentage point on Wednesday, borrowing costs are poised to head higher on a variety of […]
Read More
Nikola stock jumps as EV truck maker reports start to production and surprise Q1 revenue
Nikola Motor Company Source: Nikola Motor Company Electric heavy-truck maker Nikola said Thursday it shipped its first semitrucks to customers in April, and that it now has purchase orders and letters of intent for over 500 of its battery-electric Tre trucks. The company is also working with clients including Anheuser-Busch Inbev to complete a longer-range […]
Read More
Shopify stock down 13% after earnings miss, $2.1 billion acquisition of logistics start-up
An employee works at Shopify’s headquarters in Ottawa, Ontario, Canada. Chris Wattie | Reuters Shares of Shopify plunged more than 13% in premarket trading on Thursday after the company reported first-quarter results that missed analysts’ estimates, and said it will acquire logistics start-up Deliverr for $2.1 billion in cash and stock. Shopify posted adjusted earnings […]
Read More
Chinese tech giant NetEase launches first gaming studio in U.S. in international push
NetEase’s U.S. game studio called Jackalope Games highlights the Chinese tech giant’s aggressive interntational push as the domestic game market faces headwinds. Xing Yun | Costfoto | Future Publishing | Getty Images Chinese gaming giant NetEase has launched its first fully-owned gaming studio in the U.S. as it ramps up international expansion against the backdrop […]
Read More