Economics and Finance | FinTelegram News

Category: Economics and Finance

Economics and Finance

September 24, 2023

Citigroup About To Cut Workforce In The UK As Part Of Jane Fraser’s Restructuring Program!

The New York-based Citigroup has alerted its UK employees about potential job cuts amid a major reorganization. The bank, employing around 16,000 in the UK, is progressing to the next phase of its restructuring plans and will initiate a consultation process for employee feedback. Citigroup's CEO, Jane Fraser, recently unveiled plans for a corporate overhaul to reduce managerial levels and expedite decision-making.

Shortseller

August 17, 2023

Nasdaq-Listed Freedom Holding And Its CEO Timor Turlov Refute Accusations Of The Short-Sellers!

The short-seller Hindenburg Research accuses Freedom Holding, a Nasdaq-listed financial services company headquartered in Kazakhstan, of a litany of fraudulent and illegal activity. Freedom dismisses the allegations as conjectural and lacking evidence. CEO Timur Turlov, 35, informed Reuters that the firm would retain its non-sanctioned Russian clientele. Turlov, 35, has been on Forbes’ billionaires list since 2021, worth an estimated $3.2 billion.

August 16, 2023

Hindenburg Research Short-Sellers Attack Russian-Controlled Nasdaq Broker Freedom Holdings!

Freedom Holdings, an online brokerage firm with a market capitalization of $4.6 billion, has been making headlines since its inception in 2008. Its Chairman & CEO, Timur Turlov, a multi-billionaire, holds 70% of the company's shares. Originally based in Moscow, the company was listed on the Nasdaq in 2019. Its shares soared by over 450%. A report of the short-sellers Hindenburg Research exposed some alarming concerns.

July 22, 2023

Impressive: Warren Buffet’s Big Apple Bet!

Warren Buffett's investment in Apple is becoming increasingly lucrative, with the technology giant's stock price surging nearly 50% this year. Buffet's Berkshire Hathaway now holds a 5.8% stake valued at nearly $180 billion. The conglomerate initially purchased the majority of these shares for $31 billion, resulting in an impressive paper profit of nearly six-fold.

Shortseller

July 21, 2023

Viceroy Short-Sellers Target Swedish Hexagon With Fraud Charges!

The short-sellers around Viceroy Research and Fraser Perring have a new target: Hexagon AB, a multinational technology group for metrology and geoanalytics controlled by Melker Schörling, the majority shareholder and determining voting shareholder. In new research, Viceroy Research concludes that Hexagon is run by a "corporate dictatorship." Moreover, Viceroy believes management has committed fraud.

July 11, 2023

Real Estate Banking Crisis: ECB Reviews Lenders Of Real Estate Giant Signa!

The Austrian real estate investor Rene Benko has developed his Signa Group into one of the largest European real estate groups. Signa has run into rough waters with banks. First, reports last week about adjustments to the old balance sheets of the real estate group caused initial nervousness. Now it became known that the European Central Bank (ECB) was scrutinizing banks involved regarding their lending to the Signa Group. This has not happened before.

June 30, 2023

Attention: Real Estate Tycoon René Benko And His Signa Group Are Facing Mounting Financial Issues!

SIGNA Sports United (SSU), a specialist sports e-commerce company listed on the NYSE, released its Q2 2023 financial results, which were disappointing. YoY, sales declined by over 23% and gross profit by over 52%. The company experienced a 2% decrease in revenue for H1 2023, attributing it to subdued demand and market overstock. SSU is a part of the Signa Group, led by Austrian real estate investor Rene Benko.

June 29, 2023

The Crypto Rat Race Continues With Fidelity Investments

Fidelity Investments, a prominent asset management firm, is making another attempt to launch a spot Bitcoin ETF. This move follows BlackRock's recent filing for a spot bitcoin ETF, despite the U.S. Securities and Exchange Commission (SEC)'s historical resistance. WisdomTree, VanEck, Invesco, and Ark Invest, led by celebrity investor Cathie Wood, have taken steps toward their own Bitcoin funds, aligning them closer to BlackRock's application.

June 29, 2023

Shortseller Fraser Perring Was Right: Office Raids At Adler Group Over Market Manipulation!

In the last few days, there has been a Europe-wide raid at the Adler Group over the suspicion of balance sheet falsification and market manipulation. The German public prosecutor's office announced that 175 law enforcement agents searched 21 properties in various countries. Likely, the allegations made by short-seller Fraser Perring and his Viceroy back in 2021 will prove true. Adler Group is connected to the Austrian real estate gambler Cevdet Caner.

June 16, 2023

Remarkable: BlackRock Files For Spot Bitcoin ETF And Names Coinbase As A Crypto Custodian!

BlackRock, one of the world's largest asset management firms, has taken its initial steps towards introducing a bitcoin exchange-traded fund (ETF). On Thursday, the company submitted an application to the U.S. Securities and Exchange Commission (SEC) to launch the iShares Bitcoin Trust. If approved, this ETF would provide investors with convenient access to cryptocurrency through a product offered by one of Wall Street's largest companies.

Economics and Finance

May 24, 2023

JPMorgan CEO Jamie Dimon Warns About High Interest Rates And Real Estate Crisis

Economists and JPMorgan Chase CEO Jamie Dimon share concerns regarding the $20 trillion commercial real estate (CRE) industry in the United States. During his company's shareholder meeting, Dimon warned about the repercussions of the regional banking crisis on commercial real estate lending. Deposit runs have already led to the collapse of three U.S. banks this year, and now there is a growing crisis in the commercial real estate sector.

Shortseller

May 23, 2023

The Short-Seller Battle Around Japanese Abalance Continues On Twitter!

Viceroy Research's new short-seller battle against Japan's Abalance continues. As usual, Fraser Perring and his comrades are using Twitter (#Abalance) as the battleground to create pressure to send Abalance's stock south. That's their business model. So far, the success has been manageable. Although the stock plunged nearly 30% after the release of the first report on May 17, 2023, it recovered somewhat and is down just under 25%.