Category: Economics and Finance

Elon Musk calls himself Twitter Complaint Hotline OperatorE
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November 4, 2022

Elon Musk’s Tough Play For Twitter Profitability – Lock-Out And Mass Layoff

Elon Musk just last week acquired Twitter in a $44 billion deal after a long battle and has since fired much of its management. Among them are the CEO, Parag Agrawal, the chief financial officer, Ned Segal, and the legal affairs and policy chief, Vijaya Gadde. This Friday, the remaining employees will be locked out of the office. This happens against the background of a mass layoff. Allegedly, half of the approximately 7,500 employees will be terminated to make Twitter profitable.
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WatchChats Index implodesP
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October 31, 2022

Post-Cheap Money Era – Market For Luxury Watches Flooded With Supply!

The era of cheap money is over! Inflation is hitting the markets! Stock markets have noticed this, as have the cryptos. In times of rising interest rates and restrictive monetary policy, investors withdraw from speculative markets. In Q2/Q3 2022, the market for luxury watches was flooded with supply. The WatchChart Overall Market Index for the secondary market of luxury watches has slumped by almost 25% since its peak in March 2022 and has fallen back to the level of October 2021.
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Russian broker Quotex attacks European consumersT
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October 30, 2022

The Ukraine Proxy War And The Restricted Damage Game Of The U.S.

Europe is in deep strategic trouble. Neither can it find peace with the U.S. as a partner, nor lasting prosperity without Russian resources and the Chinese market. This is the analysis of Ulrike Guérot and Hauke Ritz in their new book Endspiel Europa (Endgame Europe). According to them, the Russian-Ukrainian war would be a long-prepared American proxy war to secure the consolidation of American dominance in Europe through a policy of restricted damage. It is a perfect analysis and most likely the truth.
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Tesla massively sells carbon creditsN
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October 30, 2022

Not A Green Company! Tesla Relies On Carbon Credit Sales To Produce Cash Flow!

Tesla, Elon Musk’s US$750 billion electric vehicle company, continues to earn huge profits on the carbon credit market. In the past five years, Tesla has earned over US$5bln by selling carbon credits. In the last trailing twelve months (TTM) alone, Tesla generated US$1.6 billion in revenues from selling carbon credits, comprising approximately 10% of its US$16.1billion earnings. However, these sales constituted over 50% of free cash flows in the latest quarter.
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Coinbase share price still in the greenC
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August 10, 2022

Coinbase Reports $1.1B Loss And Imploding Revenue!

The shares of the leading US crypto exchange Coinbase dropped after the company reported a loss of over $1 billion for Q2 2022 and missed analysts’ estimates. Coinbase’s revenue declined nearly 64% as investors exited the crypto market after the 2021 bull run. Retail transaction revenue came in at $616.2 million, down 66% and below analysts' $667.1 million consensus. Coinbase reported a $1.1 billion net loss, compared with $1.59 billion in net income in the same quarter last year.
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SoftBank with record-setting lossesT
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August 9, 2022

Tech Downturn: SoftBank Reports Record $23 Billion Quarterly Loss

Tokyo-based Global tech investment firm SoftBank reported a record quarterly loss of more than $23 billion, due largely to losses in its Vision Fund segment, the startup investment arm. The results for the three months through June brought a mea culpa from CEO Masayoshi Son, who sprinkled unprecedented levels of funding on startups worldwide over the past half-decade, particularly just as prices crested last year. Vision Fund saw more than $50 billion of gains erased from its peak.
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Meta share priceF
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July 28, 2022

Facebook Parent Reports First Ever Revenue Drop!

Facebook parent Meta Platforms posted its first decline in revenue and issued a muted outlook on its digital advertising revenues. The US social media giant continues to lose market shares to its fast-growing Chinese competitor TikTok. The company reported quarterly revenue of $28.8 billion, down almost 1% from a year earlier and slightly below the $28.9 billion analysts expected. It is the first time the social media giant posted a quarterly revenue drop from the previous year.
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FED Chairman Jerome PowellF
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July 28, 2022

Fighting Inflation: US Fed Lifts Rates by 0.75 Point Again!

The U.S. Federal Reserve continued to reverse its easy-money policies by approving another unusually large interest rate increase and signaling that more rises were likely coming to combat inflation at a 40-year high. According to WSJ, FED officials decided to lift the benchmark federal-funds rate to a range between 2.25% and 2.5%. However, markets rallied after the meeting because Fed Chairman Jerome Powell offered fewer specifics about the magnitude of upcoming rate rises and hinted at an eventual slowdown.
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Twitter holds a shareholder vote on Elon Musk's takeover bidT
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July 27, 2022

The Twitter Take-Over Battle Continues With Shareholder Vote!

Twitter scheduled a shareholder vote on Elon Musk’s $44 billion takeover proposal, after the billionaire declared the deal's termination. In a regulatory filing, Twitter said it would ask shareholders to vote on the arrangement at a meeting on 13 Sept 2022. Elon Musk and Twitter agreed to the $44 billion acquisition in April. Musk announced that he planned to take the social media company private. Twitter sued Musk to force him to comply with the merger agreement. The trial will start in October, though a specific date hasn’t been set.
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Shopyfy lays off 10 percent of its workforceE
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July 27, 2022

E-Commerce Giant Shopify Will Lay Off 10% Of Its Workforce!

According to a WSJ report, the Ottawa-based NYSE-listed e-commerce provider Shopify is laying off roughly 1,000 workers, or 10% of its global workforce. Tobi Lütke, the company’s founder and CEO, informed staff in a memo that the layoffs are necessary as consumers resume old shopping habits and pull back on the online orders that fueled the company’s recent growth. Shopify has warned that it expects revenue growth to slow this year.
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Evergrande Group CEO and CFO resigned over loan schemeC
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July 23, 2022

Chinese Troubles! China Evergrande CEO and CFO Resigned Over Suspicious Loan Scheme!

China Evergrande, the embattled Chinese real estate developer, announced that its CEO Xia Haijun and its CFO Pan Darong had resigned. The company struggled to manage its crushing $300 billion debt and defaulted in December. China Evergrande said it had asked its CEO, CFO, and another executive to resign over their involvement in a loan scheme to funnel $2 billion into Evergrande’s coffers via subsidiaries and third parties.
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Elon Musk allegedly selling SpaceX shares to finance Twitter dealA
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July 23, 2022

Amid The Elon Musk Court Battle Twitter Reports Declining Revenues And Net Loss!

Twitter reported a surprising decline in revenue that the social-media company blamed on advertising weakness and uncertainty related to its pending $44 billion acquisition by Elon Musk. The company's revenue fell to $1.18 billion from $1.19 billion a year ago and was below the average analyst estimate of $1.32 billion. It was Twitter’s biggest revenue miss ever. Despite the disappointing numbers, Twitter shares rose around 1% to close at $39.94 Friday.
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