EV Startups Lose Over $40 Billion After Taking SPAC Route Public {EV Startups Lose Over $40 Billion After Taking SPAC Route Public} – English

EV Startups Lose Over $40 Billion After Taking SPAC Route Public {EV Startups Lose Over $40 Billion After Taking SPAC Route Public} – English

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Three of the companies plumbed new lows this week as short-seller attacks, management turmoil and execution issues lead investors to reconsider their prospects. They’ve lost more than $40 billion of market capitalization combined from their respective peaks.

 

Read the full story on Bloomberg here.

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Pent-Up Luxury Demand Keeps LVMH On Top {Pent-Up Luxury Demand Keeps LVMH On Top} – English

Pent-Up Luxury Demand Keeps LVMH On Top {Pent-Up Luxury Demand Keeps LVMH On Top} – English

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LVMH Moët Hennessy Louis Vuitton—the 70-brand empire including Louis Vuitton, Christian Dior and Givenchy—just hit record sales this quarter. According to the luxury giant’s most recent earnings report, its Fashion & Leather Goods division revenue surpassed $8 billion.

 

Read the full story on Forbes here.

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Russia To Send Film Crew, Japanese Billionaire To Space {Russia To Send Film Crew, Japanese Billionaire To Space} – English

Russia To Send Film Crew, Japanese Billionaire To Space {Russia To Send Film Crew, Japanese Billionaire To Space} – English

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Moscow is seeking to boost its embattled space programme, which has stagnated since the collapse of the Soviet Union and been overtaken by US tech billionaire Elon Musk’s company SpaceX.

 

Read the full story on the International Business Times here.

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SoftBank Nears End Of $23 Billion Buyback, Imperiling Bull Run {SoftBank Nears End Of $23 Billion Buyback, Imperiling Bull Run} – English

SoftBank Nears End Of $23 Billion Buyback, Imperiling Bull Run {SoftBank Nears End Of $23 Billion Buyback, Imperiling Bull Run} – English

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The Tokyo-based company purchased more than $20 billion worth of its own shares over the past year through March, according to SoftBank filings, an unprecedented effort that more than doubled the value of the stock. Now, with only about 10% of the committed capital left, the program may run out as soon as next month, Bloomberg’s calculations show.

 

Read the full story on Bloomberg here.

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Ethereum Jumps To Record High On Report Of EIB Digital Bond Issuance {Ethereum Jumps To Record High On Report Of EIB Digital Bond Issuance} – English

Ethereum Jumps To Record High On Report Of EIB Digital Bond Issuance {Ethereum Jumps To Record High On Report Of EIB Digital Bond Issuance} – English

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Ether is the digital currency or token that facilitates transactions on the ethereum blockchain. In the crypto world, the terms ether and ethereum have become interchangeable.

 

Bloomberg reported on Tuesday, citing unnamed sources, that the EIB plans to issue a two-year 100-million euro digital bond, with the sale to be led by Goldman Sachs, Banco Santander, and Societe Generale, according to analysts.

 

Read the full story on Reuters here.

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Huawei Founder Ren Zhengfei Hints At IPO For One Of Its Business Units {Huawei Founder Ren Zhengfei Hints At IPO For One Of Its Business Units} – English

Huawei Founder Ren Zhengfei Hints At IPO For One Of Its Business Units {Huawei Founder Ren Zhengfei Hints At IPO For One Of Its Business Units} – English

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The letter, published on Huawei’s official employee website, tackled the uncertainties the company is facing as US trade sanctions continue to affect its business. Ren issued a warning to staff not to falsify accounts, or else they will face dismissal.

 

While Ren was not explicit on whether Huawei has such a plan, the suggestion was a marked difference from the Shenzhen-based company’s previous statements, which have said it is not considering an IPO.

 

Read the full story on South China Morning Post here.

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Billionaire Ron Perelman Lists $60 Million Home In New York City {Billionaire Ron Perelman Lists $60 Million Home In New York City} – English

Billionaire Ron Perelman Lists $60 Million Home In New York City {Billionaire Ron Perelman Lists $60 Million Home In New York City} – English

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Last fall, Perelman unofficially shopped the property with a few “quiet” showings for around $65 million, along with a smaller, connected townhouse for a total of around $75 million.

 

That was part of an extraordinary sell-off that included art, one of his Gulfstream jets and a yacht — part of a strategy to “simplify” his life, Perelman said at the time, all while his business had to react to the pandemic-stricken economy.

 

Read the full story on the New York Post here.

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Blackstone Tweaks Conditions For $6 Billion Crown Resorts Buyout {Blackstone Tweaks Conditions For $6 Billion Crown Resorts Buyout} – English

Blackstone Tweaks Conditions For $6 Billion Crown Resorts Buyout {Blackstone Tweaks Conditions For $6 Billion Crown Resorts Buyout} – English

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Crown has already been found to be unfit to hold a gambling licence for its Sydney casino due to alleged links to organised crime, and faces quasi-judicial public inquiries into its operations in Victoria and Western Australia (WA), the two other states where it operates.

 

Read the full story on Reuters here.

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NYC Tycoon Secures $6 Billion In Gold To Back New Cryptocurrency {NYC Tycoon Secures $6 Billion In Gold To Back New Cryptocurrency} – English

NYC Tycoon Secures $6 Billion In Gold To Back New Cryptocurrency {NYC Tycoon Secures $6 Billion In Gold To Back New Cryptocurrency} – English

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The value of the digital token, DIGau, will be pegged to the market price of the precious metal, guaranteed by liens Swig and partner Stephen Braverman’s company, Dignity Gold, secured against mining claims in Nevada and Arizona.

 

Read the full story on Bloomberg here.

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US Postal Service Plans To Support Postage NFT Tokens {US Postal Service Plans To Support Postage NFT Tokens} – English

US Postal Service Plans To Support Postage NFT Tokens {US Postal Service Plans To Support Postage NFT Tokens} – English

The post US Postal Service Plans To Support Postage NFT Tokens appeared first on Wealth-X.


 

In an announcement on Tuesday, communications-as-a-service platform CaseMail said the USPS had certified its postage nonfungible tokens, or NFTs, for use in the United States. The tokens are digitally stamped on the USPS’ ePostage labels and the physical item being mailed, creating a verifiable chain of custody for digital and physical assets, as all data is recorded on the blockchain.

 

Read the full story on Cointelegraph here.

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