Tag Archives: Market News

Vodafone shares took a beating today amid company plans to layoff thousands of workers, and properly allocate resources. Vodafone (LON: VOD) shares fell 7% on Tuesday following a mass layoff announcement by the British multinational telecom company. In a statement, chief executive officer Margherita Della Valle said the company’s plan to ax a record 11,000 jobs is necessary to remain profitable. Vodafone forecasted flat profit growth and explained that the massive downsizing would take...

If the US SEC classifies cryptocurrencies as securities, OTC Markes will be well-positioned in providing liquidity to these assets in the future. During its earnings call earlier this week, OTC Markets announced that it has secured FINRA approval in order to provide services for digital assets as securities. This is a major development as it provides a regulated market for big investors to trade crypto securities. In its quarterly report, OTC Markets mentioned that the update to its...

China’s economic outlook also affected the stocks of some of the top companies in the country. China’s economic recovery has been faced with a lot of strain in its attempt to return back to winning ways as marked by growth, however, recent data points that the economy has continued to miss broad expectations. As reported by CNBC, economic data from Reuters proved that the COVID-19 restrictions that were in place for the better part of last year had more impact than previously...

Rakuten shares gained approximately 7.9 percent YTD despite dropping about 20 percent last year. Shares of Rakuten Group Inc (Tokyo: 4745) closed Monday trading at ¥643, down 9.05 percent from the day’s opening price. The sudden drop in Rakuten shares was attributed to the announcement by Reuters that the company is in the final stages of issuing new shares in a bid to raise approximately $2.2 billion. According to the media outlet, Rakuten plans to issue shares to founder and CEO Hiroshi...

Amid mounting debt-limit default risks, US investors have turned to Bitcoin as ‘digital gold’ to better hedge their savings.  Amid rising debt-limit default risks, Bitcoin (BTC) is the preferred safe-haven asset compared to other established global fiat currencies. A recent report stated that investors have turned to BTC to hedge their investments, compared to the US dollar, Japanese yen, or Swiss franc-yielding assets. In addition, Bitcoin’s growing popularity as a veritable option rivals...

Zimbabwe seeks to use gold-backed crypto tokens to salvage the country’s economic situation. The Reserve Bank of Zimbabwe has dammed any potential consequences by selling 14 billion Zimbabwean dollars ($39 million) worth of gold-backed digital tokens. That is despite an earlier warning it received from the International Monetary Fund (IMF) not to go ahead with the plans. At the time, the International body cautioned about the potential risks of the plan, suggesting that Zimbabwe would be...

Before this announcement, Vice Media had begun to restructure its global organizational workforce. American-Canadian digital media company Vice Media Group has filed for Chapter 11 bankruptcy after several years of financial struggle. The company, which was valued at $5.7 billion in 2017, is currently worth less than $1 billion. Top executives of the media giant have failed to give any detailed evaluation of the company’s net worth. Vice Media’s lenders are planning to take on...

The integration of Spotify with NFT projects including Moonbirds has helped its stock rally more than 80 percent YTD. The Moonbirds (MOONBIRD), an Ethereum ERC-721 NFT token with a total supply of 10k units, has announced a strategic partnership with Spotify Technology S.A (NYSE: SPOT) to enable the NFT holders to unlock certain music creations on the online platform. According to the announcement, Moonbirds holders in the United States, the United Kingdom, and Australia, another few...

Chinese chip powerhouse SMIC saw Q1 revenue fall to $1.46 billion as it continues to withstand chip shortages and US trade sanctions.  Semiconductor Manufacturing International Corporation (SMIC) has seen its revenue fall according to its latest quarterly figures. On Friday, the Chinese chipmaking giant posted revenue of $1.46 billion for Q1 2023 amid challenging macroeconomic parameters. In addition to being down 20.6% year-on-year (YoY), SMIC’s latest revenue haul represents the first...

CryptoQuant’s Business Development executive Benjamin Brannan exposited on the Bitcoin’s ‘favorable’ price optics in 2023.  Crypto trading data analyzer CryptoQuant recently weighed in on Bitcoin’s (BTC) price potential and appeal in 2023. In a media session, representatives from the crypto trading analyzer opined that more institutions could shore up on BTC later this year. The decentralized data provider’s reps also forecasted the prominent token returning to its previous record high by...