Connect with us

Business

Inside the China-Italian drone scandal

Published

on

Six managers of the company reportedly approved a Chinese takeover of the plant, breaching Italian arms laws.

Of the six managers, three Chinese and three Italian – have been reported to prosecutors for their role in the sale, which estimated 75% of the firm at almost €4m (£3.4m) rather than the €45,000 value of the shares at the time.

Investigators found that the Hong Kong firm that bought a stake in the drone company was actually acting as a front for two Chinese state-owned organisations.

It’s thought that the sale broke Italy’s “golden power” rules which prohibit the sale of strategic assets to foreign investors.

The drone company is subject to regular special checks because it supplies various drones and equipment to the Italian military.

Lawyers for the company however deny any breaches and say the entire deal was both transparent and lawful.

William is an Executive News Producer at TICKER NEWS, responsible for the production and direction of news bulletins. William is also the presenter of the hourly Weather + Climate segment. With qualifications in Journalism and Law (LLB), William previously worked at the Australian Broadcasting Corporation (ABC) before moving to TICKER NEWS. He was also an intern at the Seven Network's 'Sunrise'. A creative-minded individual, William has a passion for broadcast journalism and reporting on global politics and international affairs.

Business

What is causing the crypto market crash?

Published

on

Crypto Braced For $300 Million Game-Changer As The Price Of Bitcoin, Ethereum, BNB, XRP, Solana, Cardano And Dogecoin Swing

Bitcoin, ethereum and other major cryptocurrencies are still struggling despite a wave of bullish announcements (and an eye-popping bitcoin price prediction).

The bitcoin price has again crashed under $20,000 per bitcoin, dragged lower by the Fed’s decision to keep interest rates near zero until 2023.

While the US government’s $300 million investment into bitcoin mining is a game-changer, it remains to be seen if it will be enough to boost the cryptocurrency market.

The current cryptocurrency market crash can be attributed to a few key factors.

Firstly, the US government’s announcement of a $300 million investment into bitcoin mining is a game-changer.

This investment will likely increase the hashrate and drive up demand for GPUs, which will in turn push up prices. Secondly, the Fed’s decision to keep interest rates near zero until 2023 is also weighing on the market.

This decision makes it less attractive for investors to put their money into cryptocurrencies. Lastly, there are concerns that the recent bull run was driven by speculation and that the market is now cooling off.

Will the $300 million investment be enough to boost the market?

It remains to be seen if the $300 million investment from the US government will be enough to boost the cryptocurrency market.

While this investment is definitely a positive development, it may not be enough to offset the bearishness in the market caused by other factors such as the Fed’s decision to keep interest rates near zero. Only time will tell how much of an impact this investment will have on the market.

In the meantime,crypto investors should brace for more volatility in the markets.

Continue Reading

Business

Top 5 destinations for “revenge travel” in 2023

Published

on

1. Greece


Greece is a beautiful country that is rich in history and culture.

The country is home to some of the most famous historical sites in the world, such as the Parthenon and the Acropolis.

Greece is also known for its stunning beaches, crystal-clear waters, and delicious food.

2. Italy


Italy is another popular tourist destination that is known for its rich history and culture.

The country is home to many famous historical sites, such as the Colosseum and the Vatican City.

Italy is also known for its delicious food, stunning scenery, and friendly people.

3. Spain


Spain is a diverse country that offers something for everyone.

The country is home to beautiful beaches, stunning mountain ranges, vibrant cities, and friendly people.

Spain is also known for its delicious food and wine.

4. France


France is a popular tourist destination that is known for its stunning scenery, delicious food, and rich history and culture.

The country is home to many famous historical sites, such as the Eiffel Tower and the Louvre Museum.

France is also known for its beautiful countryside and friendly people.

5. United Kingdom


The United Kingdom is a popular tourist destination that offers a unique blend of history and culture.

The country is home to many famous historical sites, such as Stonehenge and Westminster Abbey.

The United Kingdom is also known for its stunning scenery, friendly people, and delicious food

Continue Reading

Business

Wall Street smashed by months of volatility

Published

on

Wall Street neared bear market territory on Friday as stocks fell sharply to end the week with the Dow down more than 800 points.

The sell-off was driven by fears of a deeper recession, as data showed that manufacturing activity contracted for the fourth straight month.

The Dow is now down 20% from its peak in February, and if it falls below 19,000 it will officially enter bear market territory.

While some analysts believe that the market is overreacting to the latest data, others say that the sell-off is justified given the deteriorating economic conditions.

It remains to be seen whether the market can recover from this latest setback, but one thing is clear: Wall Street is in for a volatile ride in the weeks and months ahead.

The Dow was down more than 800 points, or 3.2%, at 24,608. The S&P 500 was down 3% at 2,754, and the Nasdaq Composite was down 2.8% at 7,433.

All three indexes are now down more than 20% from their all-time highs set in late September. The sell-off was driven by fears of a deeper recession as the yield on the 10-year Treasury fell below 1.6%.

The market has been deeply volatile in recent weeks on fears that the coronavirus outbreak will lead to a slowdown in global economic growth. Friday’s sell-off suggests that those fears are still very much present.

Continue Reading

Trending Now

Copyright © 2022 The Ticker Company PTY LTD