Month: May 2022
Finland and Sweden joining NATO will help deter Russia, says security analyst
British Prime Minister Boris Johnson, here seen addressing a press conference with Finnish President Sauli Niinisto in Helsinki, Finland, on Wednesday, signed a security pact with Finland just ahead of the European nation’s decision on whether to apply for NATO membership. Frank Augstein | Afp | Getty Images A decision by Finland and Sweden to […]
Read More
‘The most dumb thing’: Elon Musk dismisses hydrogen as tool for energy storage
Elon Musk has a history of expressing strong opinions about hydrogen and hydrogen fuel cells. A few years ago, when the subject came up during a discussion with reporters at the Automotive News World Congress, the electric vehicle magnate described hydrogen fuel cells as “extremely silly.” Jim Watson | AFP | Getty Images Tesla CEO […]
Read More
SoftBank Vision Fund posts record $27 billion loss as tech stocks plummet
SoftBank Founder Masayoshi Son said there is “confusion in the world” and in the markets due to a number of factors including Russia’s invasion of Ukraine, high inflation and central bank moves to raise interest rates. These factors have contributed to a record annual loss at SoftBank’s Vision Fund. Kentaro Takahashi | Bloomberg | Getty […]
Read More
Dubai Airports passenger traffic may reach pre-Covid levels in 2024, CEO says
ShareShare Article via FacebookShare Article via TwitterShare Article via LinkedInShare Article via Email Paul Griffiths, CEO of Dubai Airports, says the “extremely encouraging” results from the first quarter of 2022 caused the company to revise its forecast for passenger traffic upward. Some flight routes have exceeded pre-Covid traffic levels, he says. Source
Read More
The world’s biggest stablecoin has dropped below its $1 peg
Crypto firm Tether has been reducing the amount of commercial paper in its reserves. Jakub Porzycki | Nurphoto | Getty Images Tether, the world’s largest stablecoin, broke below its $1 peg Thursday amid panic in the crypto market. The token sank to as low as 98 cents at around 3:30 a.m. ET, according to data […]
Read More
North Korea fires suspected ballistic missile toward sea
North Korean leader Kim Jong Un. KCNA | Reuters North Korea fired a suspected ballistic missile toward the sea on Thursday, South Korea and Japan said, in the latest of a series of weapons demonstrations this years and just hours after it confirmed its first case of the coronavirus since the pandemic began. Japan’s Defense […]
Read More
Barclays downgrades Beyond Meat, cuts price target by 69% on ‘limited visibility’ on path to recovery
Barclays slashed the price target for shares of Beyond Meat by 69%, noting “limited visibility” on the path to recovery after a “disappointing” earnings report. Analyst Benjamin M. Theurer downgraded shares of Beyond Meat to equal weight from overweight after the plant-based food company on Wednesday reported a wider-than-expected loss in its most recent quarter […]
Read More
More oil, slower demand mean world can weather Russian losses — IEA
The IEA says lower output from Russia will not leave the world short of oil. Natalia Kolesnikova | Afp | Getty Images Lower output from Russia due to the fallout from its invasion of Ukraine will not leave the world short of oil, the International Energy Agency (IEA) said on Thursday, as supply ramps up […]
Read More
UK economy ‘only going to get worse’ as growth slowdown begins
The U.K. economy shrank by 0.1% in March and the situation is expected to worsen as the country’s cost-of-living crisis escalates. Tim Ireland | Xinhua News Agency | Getty Images LONDON — A growth slowdown is underway in the U.K. after the economy shrank by 0.1% in March, with economists expecting further contractions this year. […]
Read More
China won’t have a ‘normal’ economy without tackling Covid first, senior Chinese official says
Shanghai and Beijing have retained, if not tightened, many Covid-related restrictions on business and travel. In this picture, workers disinfect a residential community on May 11, 2022, in Beijing, China. Beijing Youth Daily | Visual China Group | Getty Images BEIJING — Getting the pandemic under control is a prerequisite for a “normal” functioning economy, […]
Read More