Let us look at these amazing facts. When the Fed started tightening monetary policy in March 2022, the unemployment rate was 3.6%. Since then, about four million net new jobs have been created and the unemployment rate is now 3.4%. However, inflation has not risen, it has fallen significantly; wage increases have moderated, not accelerated, …
FrontApp Inc is valued at $1.7 billion. Customer communications platform FrontApp has closed a new funding round that values the company at $1.7 billion. The funding round was led by Salesforce Ventures and roughly doubles the company’s valuation. FrontApp offers customer support software used by Lyft, Shopify and Airbnb, among others. The message is clear: …
Warren Buffett increases his stake in Occidental Petroleum. Berkshire Hathaway has bought another $500 million in shares of Occidental Petroleum, according to a regulatory report. This purchase brings Buffett’s total investment to nearly $8.5 billion, or ~16% of the energy company. Buffett began buying Occidental Petroleum shares earlier this year and Berkshire now owns 152.7 …
Fed raises interest rates by highest percentage in 28 years. After weeks of speculation, the Fed raised its benchmark interest rate by three-quarters of a percent, the largest rate hike since 1994. The aggressive rate increase ends years of loose monetary policy that the Fed has used to try to curb historically high inflation. The …
FED Raises Interest Rates; Highest Percentage In 28 Years Read More »
In a company-wide email circulated on Friday, Elon Musk announced his intention to reduce Tesla’s workforce by 10%. The announcement comes shortly after Musk’s call for employees to spend at least 40 hours a week in the office. Musk noted, “…this does not apply to those who actually build cars, batteries or solar cells.” We …
Justin Timberlake sells off his collection: a fund backed by private equity firm Blackstone has agreed to buy Justin Timberlake’s song catalogue for $100 million. The deal is the largest acquisition of music rights to date as investors get creative in search of uncorrelated returns and steady cash flow. It seems Blackstone’s limited partners did …
Justin Timberlake Closed a $100,000,000 Deal Selling Off His Album Collections Read More »
China unexpectedly cuts policy rate amid Covid-19 lockdown. The People’s Bank of China has cut its benchmark five-year lending rate to 4.45% from 4.6%. This is the biggest cut since the rate was introduced into the bank’s policy arsenal in 2019. The move represents an unexpected turnaround in China’s monetary policy.Economists believe the rate change …
Terra’s stable coin, UST, falls below $1 for the first time since its launch. The value of Terra USD has slipped below the dollar mark, hitting a low of $0.69, exacerbating the crypto market’s overall decline.The Luna Foundation Guard (LFG), a non-profit organization responsible for maintaining the peg, announced its intention to lend $750m in …
BUFFETT’s BIG MOVE! Warren Buffett buys $51bn worth of stocks in the first quarter amid general market weakness. Berkshire Hathaway announced ahead of its annual meeting on Saturday that it bought more than $51 billion worth of shares in the first quarter. Excluding share sales during the quarter, Berkshire increased its stock holdings by $41 …
Crypto adoption on Wall Street is in full swing! Goldman Sachs makes first Bitcoin-backed loan as Wall Street warms to cryptocurrencies Bitcoin holders can borrow from Goldman in fiat currencies using BTC as collateral. The credit facility, which is tied to cryptocurrencies, carries the risk of liquidation if the bitcoin price falls too low and …
