Markets

According to Geely, it is projecting a total of 1.65 million units for the current fiscal year and it expects its electric vehicle to dominate the mix. Chinese automobile giant Geely Automobile Holdings Ltd (HKG: 0175) has beaten revenue expectations with respect to its revenue for the 2022 financial year. According to the performance report shared by the auto giant, it raked in a revenue of 148 billion yuan ($21.49 billion), up by 45.6% from the year-ago period. The impressive performance...

Virgin Orbit stock is up over 73% in the pre-market while yesterday it closed down almost 15%. Aircraft engineering company Virgin Orbit (NASDAQ: VORB) is about to close a deal with venture capital investor Matthew Brown. Reuters reported the news referring to a term sheet that reveals that the company is nearing an agreement with the investor via a private share placement. Meanwhile, Virgin Orbit is moving toward filing for bankruptcy if it does not secure capital as soon as possible. The...

The Terran Orbital Q4 2022 release revealed revenue increases on a quarter-on-quarter and year-on-year basis. Satellite maker Terran Orbital (NYSE: LLAP) recently posted its Q4 2022 earnings report, revealing an annual revenue increase of $94.2 million. This figure is more than double what Terran Orbital made in 2021. Terran Orbital’s revenue haul for Q4 2022 represented an increase of 130% year-over-year. The company reported that revenue grew from $27.8 million in the third quarter to...

Sweden’s largest pension fund Alecta dumped its First Republic Bank stake at a $728 million loss amid broader US banking losses.  Swedish pension fund Alecta recently offloaded its First Republic Bank (NYSE: FRC) shares following the latter’s massive drawdown. The leading Swedish pension fund was the fifth-largest shareholder at the embattled bank but now appears to have lost faith in First Republic. According to Alecta CEO Magnus Billing, uncertainty regarding the future of First Republic...

Crypto Finance AG, a leading provider of institutional-grade investment solutions, custody, and brokerage for digital assets, and part of Deutsche Börse Group, partners with Apex Group, a global financial services provider, to offer institutional-grade crypto products. The demand for crypto-related investment products is expected to grow in line with the exponential development of this new asset class. Therefore, trusted and regulated providers across the entire product value chain are...

Solana price started a decent increase above the $21.50 resistance against the US Dollar. The price is now trading above $22 and the 55 simple moving average (4-hours). There is a major bullish trend line forming with support near $22.30 on the 4-hours chart of the SOL/USD pair (data feed from Coinbase). The pair must clear $24.00 and $25.00 to continue higher in the near term. Solana price is trading above $22 against the US Dollar, similar to bitcoin. SOL could start a...

Bitcoin price started a fresh increase above the $25,000 zone against the US Dollar. The price is now trading above $27,000 and the 55 simple moving average (4-hours). There is a key bullish trend line forming with support near $28,100 on the 4-hours chart of the BTC/USD pair (data feed from Coinbase). The pair could continue to rise if there is a clear move above $28,500 level. Bitcoin price is showing positive signs above $27,000 against the US Dollar. BTC might gain...

Jared Grey – the “Head Chef” (CEO) of the automated market maker Sushi Swap – is attempting to establish a $3 million legal defense fund after being subpoenaed by the Securities and Exchange Commission (SEC).  Grey declined to comment further on the ongoing investigations but said he and Sushi were cooperating with the agency.  In a blog post on Tuesday, Grey said that the new Sushi Dao Legal Defense Fund would cover “reasonable attorney’s fees” for core contributors who have...

Ever since FTX unceremoniously imploded back in November, regulators and courthouses in both the USA and the Bahamas have been working furiously to get as many FTX-held assets back into the hands of their original owners, with varying degrees of success. While court cases in the US have temporarily stalled, owed in part to SBF’s plea of innocence, Bahamian regulators were able to seize some assets from the get-go and appear to be closing in on FTX Digital Markets, the...

Former Coinbase CTO and venture capitalist Balaji Srinivasan has many skeptical of his latest prediction that Bitcoin will moon to $1 million within 90 days. What could he really be after with such a bullish public bet? On Tuesday, Balaji explained that his $2 million gamble isn’t about making money, but about settling an “ideological matter” surrounding U.S. dollar inflation. The Printing is Coming In a tweet response to angel investor Jason Calcanis on Tuesday, Balaji...