Category: Economics and Finance

Tesla share price under pressureT
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January 25, 2024

That Horts: Tesla Shares Collapse Amidst Sales Growth Concerns and Chinese Competition!

Elon Musk's Tesla, a forerunner in the electric vehicle (EV) market, experienced a more than 9% collapse in pre-market trade share prices on Thursday following its earnings report, which fell short of expectations and hinted at a potential slowdown in 2024. The electric carmaker once celebrated for its ambitious sales growth, now faces intensified competition, causing a reassessment of its sales targets.
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Russian QIWI presents Q3 2023 numbersR
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November 18, 2023

Russian-Controlled Finance Group Qiwi Presents Q3 2023 Results With Collapsed Profit!

QIWI, a Russian fintech service provider, announced its Q3 2023 financial results, revealing several critical developments and performance metrics. Founded in 2007 by Sergey Solonin, Boris Kim, and Andrey Romanenko, QIWI went public on NASDAQ in 2013. In response to Western sanctions against Russia, QIWI Group underwent a strategic division in the summer of 2023, separating its Russian and international operations.
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The AI-driven CyberFinance Age is inevitableI
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November 12, 2023

It’s Inevitable: AI Will Become The Pillar of the CyberFinance Era. Despite Regulatory Resistance!

In 2023, financial regulators have increasingly warned about the risks associated with the use of Artificial Intelligence (AI) in the financial industry. These warnings stem from various concerns, most notably the potential for AI to perpetuate and amplify societal biases, violate fair lending laws, and pose cybersecurity risks. Software-based algorithms are already dominating cyber finance around blockchains and cryptocurrencies. The dawning of an AI-dominated CyberFinance world is inevitable.
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Block co-founder and CEO Jack DorseyJ
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November 3, 2023

Jack Dorsey’s Block Shows Resilience and Strong Performance: A Beacon of Hope for the FinTech Sector!

Amid a challenging landscape that has seen fintech companies navigate through a storm since 2021, Block, US fintech formerly known as Square and helmed by industry pioneer Jack Dorsey, has delivered a stellar earnings report that not only defied analyst expectations but also provided a glimmer of hope for the fintech industry at large. After the market close on Thursday, Block's shares soared by up to 19% as investors rallied behind the company's robust third-quarter results.
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Fraser Perring under pressure over voicemailT
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October 24, 2023

The ‘Israel Puppy” Controversy: The Voicemail Saga Of Shortseller Fraser Perring

The financial domain is a theater where reputations can soar to towering heights or plunge into abysmal depths within a blink, especially in today's digital epoch, where information, authentic or doctored, races across the globe in an instant. A recent uproar involving an alleged leaked voicemail by short-seller Fraser Perring of Viceroy Research has catapulted into a tempest of dispute, PayNews42 reports.
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Tesla share price with sharp declineB
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October 19, 2023

Breaking: Elon Musk’s Tesla Misses Revenue And Earnings Predictions! Shares Dive!

Tesla's stock value took a 10% dip on Thursday following the release of the company's third-quarter financial results, which failed to meet both revenue and earnings predictions. The electric carmaker reported revenues of $23.35 billion with an adjusted 66 cents per share earnings. This disappointing outcome marked the first occasion since Q2 of 2019 that Tesla missed the mark on both counts.
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Cyberfinance with AII
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October 18, 2023

Is Artificial Intelligence In Finance A Revolution Or A Risk?

The application of artificial intelligence (AI) in finance has spurred a wide range of opinions and concerns among experts and regulators. Just recently, SEC Chair Gary Gensler warned about the impact of AI on financial markets. While AI has the potential to revolutionize the financial industry, there are also fears about its impact on financial stability, ethics, privacy, and other areas. Here are some reasons why some experts are apprehensive:
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Citigroup and job cuts in the UKC
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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.
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Freedom Finance founder and CEO Timur TurlovN
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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.
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Hindenburg Reseaerch attacks Freedom HoldingH
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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.
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Warren Buffet and Berkshire Hathaway bet big on AppleI
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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.
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Viceroy Research resellers target Hexagon sharesV
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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.
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