Month: June 2022
NATO set to increase its high-readiness forces to over 300,000 in massive military buildup
Stoltenberg has said NATO’s updated Strategic Concept will likely refer to Russia as the “most significant and direct threat” to security. Anadolu Agency | Anadolu Agency | Getty Images NATO Secretary-General Jens Stoltenberg on Monday said the military alliance is poised to increase the number of its high-readiness forces to well over 300,000 as part […]
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Tencent stock falls as Prosus/Naspers to sell shares to fund buybacks
Technology investor Prosus NV will tap its huge stake in China’s Tencent to fund a stock buyback in itself and parent Naspers, the Dutch firm said on Monday, knocking shares in the Chinese tech giant. The move is aimed at closing a gap between the market value of Prosus/Naspers and that of the 28.9% stake in Tencent they own, […]
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Stocks making the biggest moves premarket: Spirit Airlines, BioNTech, Robinhood and more
Check out the companies making headlines before the bell: Spirit Airlines (SAVE) – Spirit Airlines lost 4.7% in the premarket after saying it would accept the latest improved takeover bid from Frontier Group (ULCC). The latest Frontier cash-and-stock bid is valued at $2.7 billion based on Friday’s closing prices, while the most recent JetBlue (JBLU) […]
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The Points Guy’s Brian Kelly breaks down how to prepare for summer travel season
ShareShare Article via FacebookShare Article via TwitterShare Article via LinkedInShare Article via Email Brian Kelly, founder and CEO of the Points Guy, joins CNBC’s ‘Squawk Box’ to discuss how you can prepare for the busy holiday travel weekend as flights around the country are cancelled or delayed. Source
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Needham upgrades Chewy, says shares can rally more than 40% because the pet space is defensive
Shares of Chewy have plummeted 35% this year, but the stock is due for a comeback according to Needham. Source
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Crypto hedge fund at center of crisis faces risk of default as deadline to repay $670 million nears
Billions of dollars of value have been wiped off the cryptocurrency market in the last few weeks. Companies in the industry are feeling the pain. Lending and trading firms are facing a liquidity crisis and many firms have announced layoffs. Yu Chun Christopher Wong | S3studio | Getty Images Three Arrows Capital, a crypto-focused hedge […]
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CEO of $4.8 billion fintech Wise faces investigation over tax breach
Kristo Kaarmann, CEO and co-founder of Wise. Eoin Noonan | Sportsfile | Getty Images The CEO of £3.9 billion ($4.8 billion) fintech firm Wise is being investigated by U.K. regulators after tax authorities found he failed to pay a tax bill worth over £720,000. Kristo Kaarmann, who co-founded Wise in 2011, was recently fined £365,651 […]
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Russia’s neighbors fear NATO’s defense plans are not fit for purpose and they could be quickly overrun
Lithuanian President Gitanas Nauseda has said he plans to bring up a stand-off with Russia at this week’s NATO summit. Picture Alliance | Picture Alliance | Getty Images Everything changed when Russia invaded Ukraine and NATO’s defense strategy must now account for the new security environment on Europe’s eastern flank. That’s the coordinated message from […]
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EssilorLuxottica Chairman Leonardo del Vecchio dies at 87, local media reports
Leonardo Del Vecchio Marka/Universal Images Group via Getty Images Leonardo del Vecchio, the chairman of spectacles maker EssilorLuxottica and one of Italy’s wealthiest business figures, has died aged 87, Italian media reported on Monday. There was no immediate comment from his company but a source confirmed the reports. Del Vecchio rose from a childhood in […]
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Bernstein analyst likes these two airlines despite travel chaos
ShareShare Article via FacebookShare Article via TwitterShare Article via LinkedInShare Article via Email Alexander Irving, European transport analyst at AB Bernstein, discusses which airlines are best suited to weather the travel chaos and staff shortages plaguing a number of large airports across the region. Source
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