Tag Archives: Market News

On the 24th of September, the Speaker of the United States House of Representatives announced an official impeachment inquiry opened against sitting President Donald Trump. The issues against him ranged from obstructing Congress to some foul play in his recent dealings with the president of Ukraine, Volodymyr Zelensky. Even though Trump is yet to be removed from office, the president has now been impeached by the House and reactions have begun to pour in. Interestingly the stock market has...

Gold bugs certainly have had quite the field year in 2019. The price of gold, even though it’s had ups and downs like pretty much every other asset, has still brought in significant year-to-date (YTD) returns so far. The price behavior might be seen by gold bugs, especially those who are anti-Bitcoin, has a feather in the yellow metal’s hat, against Bitcoin, especially recently.2019 was an interesting year because of quite a few factors. These factors including trade problems, cross-border...

Tesla stock seems to be unstoppable in the last few days. At the time of writing, the stock just hit a record high, rising 2.39% to $402.67. This puts the company close to that $420 figure that costs its CEO Elon Musk $20 million in fines with the Securities and Exchange Commission (SEC). When the stock reaches $420, Musk said Tesla will go private.Since Tesla announced a surprise profit in the third quarter, the stock has been on a rise. It finally recovered from its problems caused mostly...

The U.S.-based provider of shared workspaces for technology startups and services for other enterprises WeWork sells Managed by Q unit acquired earlier this year. As the company’s spokesperson stated, the sum of purchase made up about $220 million at that time, however, now the deal will cost less than a quarter of this price.According to Bloomberg, the decision to sell Managed by Q results from WeWork’s need to cut its costs and unload assets. Currently, WeWork is in private talks with...

U.S. President Donald Trump becomes the third president in history to be impeached by the House. The announcement came on Wednesday, December 18, when the Democrats voted for two articles – obstruction of Congress and abuse of power.This historic vote comes after the House Democrats conducted an inquiry into Trump’s dealings with Ukraine. The impeachment process isn’t over yet though. The proceedings now move to the Senate for the next trial. Thus, the Senate holds the final decision if it...

Automaker giant Tesla Inc. announced a price decrease for its Model 3 sedans that are built in China by 20% or more next year. Sources familiar with the situation told Bloomberg that Tesla hopes this move will attract new (and old) customers.However, it is not easy to just cut costs. Still, Tesla has an idea. It will try to bring it down by using more locally produced parts, allowing it to import fewer components and avoid tariffs in that way.New, lower prices might start at 355,800 yuan...

Volvo Group after negotiations has decided to sell its Japanese trucking unit UD Trucks for the total sum of 250 billion yen ($1.3 billion) to Isuzu Motors Ltd. Sources indicate that the deal was consummated after a series of talks that saw the current transaction structure emerge. The two rival global automakers will also move ahead as allies rather than as rivals in what seems as a consolidation of their positions for mutual benefit.Based in Saitama, Japan, UD Trucks was sold to Volvo after...

Adyen, an outstanding payment company that allows businesses to accept e-commerce, mobile, and point-of-sale payments, has partnered with the global fast-food chain McDonald’s. Within Adyen’s deal with McDonald’s, the latter will use the Adyen platform to receive and process payments made in McDonald’s mobile app.As Bloomberg has reported, in the future, this option will be available globally. The UK will be the first country with this initiative implemented in the first quarter of...

As the global automobile industry is undergoing a transitional change, two big auto giants have announced a merger. On Wednesday, December 18, automobile giants Fiat Chrysler and Peugeot maker PSA revealed a massive $50 billion merger.With the auto industry eyeing a massive shift towards electronic vehicles, manufacturers are facing the heat of rising infrastructure costs. To alleviate these concerns, and move ahead confidently with new innovation, these companies have now joined hands. As a...

In what has been seen by many as a travesty of sorts, major cryptocurrency equipment manufacturer Canaan Creative has seen its stock decline sharply in the past 17 out of 21 trading sessions. Sources indicate that Canaan’s stock hasn’t fared well as many would have hoped. Just to remind you, the company at its IPO was valued at $1.3 billion. The company’s stock has lost about 35% of its value this week. Since the late November shares have tumbled indicating that the company wasn’t as valuable...