The world’s largest air carrier, American Airlines, has become the first major US airline to buy 50 long-range, single-aisle A321XLR jets from Airbus as Boeing is tries to win back customers’ trust after two recent crashes. European aerospace giant Airbus…
MoneyGram soars 168% from Ripple symbolic investment
On Tuesday, money-transfer company MoneyGram saw its stock soar an eye-popping 168% after banking software company Ripple announced it will buy $30 million of MoneyGram shares at a huge premium of $4.10 per share, with the option to buy another…
Facebook has finally revealed the details of its cryptocurrency Libra
Facebook has finally revealed the details of its cryptocurrency, Libra, which will let you buy things or send money to people with small fees. You’ll pseudonymously buy or cash out your Libra online or at local exchange points like grocery…
Paris Air Show 2019 kicks off at Le Bourget
Boeing under pressure at Paris air show while Airbus reveals new plane. Boeing CEO Dennis Muilenburg will be under the spotlight at this week’s Paris air show following the two 737 Max crashes that killed almost 350 people. While plane manufacturers…
Trump warns of a ‘market crash the likes of which has not been seen before’
Trump warns of a ‘market crash the likes of which has not been seen before’ if he loses 2020 election — but economists are worried he’s causing a recession on his own. United States President Donald Trump on Saturday warned…
Broadcom Thinks The Huawei Ban Will Cost It $2 Billion
Broadcom Thinks The Huawei Ban Will Cost It $2 Billion This Year. Broadcom (NASDAQ: AVGO) released its second-quarter results yesterday and the company had some bad news for investors in its forecast. The company, based in the U.S., sees a…
Facebook’s cryptocurrency Libra to debut next week
Facebook’s cryptocurrency Libra to debut next week backed by Visa, Mastercard, Uber, and others, with a launch to follow in 2020. Facebook has secured the backing of over a dozen companies for its upcoming Libra cryptocurrency set to be announced next…
Huawei Demands Verizon Pay $1 Billion For Using 230 Patents
Huawei has hit upon a new strategy for fighting back against the US: leveraging its massive suite of technology patents to try and force American competitors to fork over billions of dollars. And its first target is Verizon, one of its biggest American…
Venezuela’s Inflation Finally Drops Below 1 Million Percent
Annual inflation in the country has dropped below one million percent in May for the first time since 2018, Reuters reports. And how did the country magically start to rope in inflation? The central bank restricted the domestic money supply – imagine that. Consumer prices…
United Technologies, Raytheon Combine Into Aerospace, Defense Giant
United Technologies and Raytheon agree to all-stock merger that would create aerospace behemoth. Raytheon and United Technologies on Sunday announced they would merge in an all-stock deal, a tie-up that would create a behemoth in the fast-growing defense and aerospace…
9 in 10 US shale oil companies are burning cash
Recently released data, which confirmed dismal first quarter earnings, only served to cement negative market sentiment. While shale operators continue to focus on improving capital efficiency, investors are putting the industry under extreme pressure, leaving no room for undisciplined spending in…
India’s Draconian Anti-Crypto Bill Proposes 10-Yr Prison for Crypto Adopters
Lawmakers in India have proposed a bill which would see crypto ownership made completely illegal, with as much as a 10-year prison sentence for anyone caught holding cryptos. This coincides directly with India’s plans to launch its own state-backed cryptocurrency…
Trump as Stocks Analysts: “Stocks Would Be 10,000 Points Higher If Fed Kept Rates Lower”
Barclays is currently forecasting three rate cuts before the end of the year. Now, strategists at the big banks are scrambling to adjust their forecasts fast enough: The team at the biggest American bank by assets in the US now…
How the Fiat Chrysler and Renault Merger Deal Vaporized
France government wanted a commitment from Renault partner Nissan Motor Co. to back the merger. Abstention, as signaled earlier by the Japanese management — wasn’t good enough. French side fearing that Nissan might begin torpedoing the alliance. It quickly became…
Heavy Duty Truck Orders Collapse, Down 70% Y/Y
A bloated backlog of Class 8 orders as a result of a euphoric mid-2018 continues to weigh on heavy duty truck orders in 2019. Preliminary North America Class 8 net order data from ACT Research shows that the industry booked just 10,800 units…