Category: Economics and Finance

Super Micro under attack by Hindenburg ResearchE
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August 29, 2024

Effective Attack: Shares of Short-Seller Target Collapsed!

Super Micro is currently facing significant challenges following a report by Hindenburg Research, which accused the company of accounting manipulation and other irregularities. In response to these allegations, Super Micro announced a delay in filing its SEC filing. This announcement led to a dramatic decline in its stock price, with shares plummeting nearly 25% in a single day.
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Embattled billionaire investor Carl IcahnU
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August 20, 2024

Under Pressure: Investment Dinosaur Carl Icahn Settles SEC Charges for $2 Million!

Billionaire activist investor Carl C. Icahn has agreed to pay a $2 million fine to settle charges brought by the U.S. Securities and Exchange Commission (SEC) for failing to disclose that he had pledged his personal stock holdings as collateral for billions of dollars in loans. The SEC's charges, announced on Monday, highlight Icahn's use of more than half of his shares in Icahn Enterprises as collateral, a practice that went unreported for years.
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impressive Block results with crypto businessJ
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August 3, 2024

Jack Dorsey’s Block Inc. Reports Significant Growth in Bitcoin Revenue for Q2 2024

Jack Dorsey's payment conglomerate, Block, has announced its earnings results for the second quarter of 2024, revealing a notable 9% increase in Bitcoin revenue year over year. In its recent shareholder letter, Block reported Bitcoin revenue of $2.61 billion for Q2 2024, contributing to a total net revenue of $6.16 billion for the quarter. This represents an 11% growth compared to the same period in 2023.
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Shortseller attack on oddity followed by a class actionS
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July 23, 2024

Short Seller Attack: Israeli Beauty Tech Firm Oddity Faces Potential Class Action Over False AI Statements!

Welcome to America: Oddity Tech Ltd., an Israeli company known for its beauty and wellness products, is facing a potential class action lawsuit filed by an investor following a devasting short seller report. The suit alleges that ODDITY exaggerated the capabilities of its artificial intelligence technology prior to its $424 million initial public offering (IPO) last year. The lawsuit is coordinated by Kahn Swick & Foti (KSF), a Louisiana-based law firm.
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AI-translator DeepL secures fresh fundingB
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May 23, 2024

Bravo: DeepL Secures $300 Million Investment, Valuation Hits $2 Billion!

DeepL, the German AI-translation startup, announced a significant milestone on Wednesday: securing a $300 million investment round led by Index Ventures, boosting the company's valuation to $2 billion. This funding round underscores the growing interest in function-specific AI models, particularly in the translation sector, as businesses seek more specialized and accurate solutions beyond general-purpose AI like OpenAI’s ChatGPT.
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Block co-founder and CEO Jack DorseyC
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April 24, 2024

Crypto Finance: Jack Dorsey’s Block Boosts Bitcoin Mining with New System Development!

Block, the fintech company led by Jack Dorsey, formerly known as Square, has expanded its bitcoin mining initiatives from chip design to complete system development. Recently, Block announced the completion of its three-nanometer bitcoin mining chip and is currently refining the design in partnership with a top global semiconductor foundry. This advancement is part of a broader strategy to enhance the Bitcoin mining ecosystem.
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AI and CyberfinanceU
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March 13, 2024

Unveiling AI’s Role in the Financial Sector: The Double-Edged Sword!

As the financial sector increasingly integrates Artificial Intelligence (AI) into its operations, a new era of efficiency, innovation, and risk emerges. AI's capabilities to process and analyze vast amounts of data at unprecedented speeds are transforming finance, from personalized banking services to complex market analysis. However, scammers and cybercriminals, ever opportunistic, are finding novel ways to exploit AI advancements, presenting a significant challenge to security and regulatory frameworks.
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Andreas Andreades is the interim Temenos CEOT
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February 21, 2024

Temenos Faces Turmoil Amid Short-Seller Accusations and Leadership Challenges

As recently reported by FinTelegram, Temenos, a prominent Swiss software company, is currently navigating through a storm of controversies following a scathing critique by Hindenburg Research, a well-known short-selling firm. Amid these turbulent times, a significant investor has openly demanded the resignation of interim CEO Andreas Andreades, intensifying the pressure on the Geneva-based firm's leadership.
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Hindenburg Research attack on TemenosS
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February 19, 2024

Short-Seller Attack: Hindenburg Research Targets Temenos with Allegations of Accounting Irregularities

Hindenburg Research, known for its short-selling attacks, has set its sights on Temenos AG, a Swiss-listed banking software developer. With a market capitalization of approximately $7.5 billion and a reported revenue of $1 billion in 2023, Temenos boasts a global client base of 3,000 customers. However, the Hindenburg report, including whistleblower information and interviews with former Temenos employees, has unearthed serious concerns about the company's accounting practices.
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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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