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U.S. stocks record their worst first half in more than 50 years

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U.S. stocks are continuing to tumble, recording their worst first half in more than 50 years

This has all been triggered by the Federal Reserve’s attempt to halt soaring inflation and fears over global growth.

The S&P slid by a further 0.9 per cent on Thursday, taking it down by 20.6 per cent in the first six months of this year.

The last time Wall Street equities saw such a disastrous start to the year was back in 19-70 in response to the recession.

The pullback from U.S. stocks has wiped more than $9 trillion in market value since the end of 2021.

The tech-heavy Nasdaq is also in free fall, sliding 1.3 per cent on Thursday to an almost 30 per cent loss over the last six months.

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 ticker 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.

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Brad Pitt foundation to pay $20.5m

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Brad Pitt fronted a campaign following the natural disaster, promising to build a large number of environmentally-sustainable homes at the epicentre of the storm, and then sell them to the flood victims below cost.

The bold concept was met with fanfare from right around the world, with Pitt himself labelling the scheme as “a proof-of-concept for low-income green building”.

However, the properties began to deteriorate almost immediately after the owners moved in.

13-years later, the construction company has agreed to pay over $20 million in compensation to those affected.

Pitt has long denied any responsibility for the failures.

Photo Credit: Daily Mail

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This investor sold its equity stake in Twitter during Musk takeover saga

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A Securities and Exchange filing has showed active investor Elliott Management has sold its equity stake, as well as cutting its exposure, to Twitter

The company previously held 10 million stocks in the social media giant, and was one of its major shareholders.

Twitter’s stock price dramatically rose in April, on the back of Elon Musk wanting to buy the company for approximately $44billion.

The after-effects of the takeover saga are still ongoing, with the billionaire and Twitter embroiled in a legal battle.

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Why a Bitcoin mining company is going against a major merger

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Bitcoin mining company PrimeBlock has ended plans to go public via a specialpurpose acquisition company (SPAC) merger with 10X Capital.

The firms terminated the agreement via mutual consent, according to a US Securities and Exchange Commission filing.

Plans for the merger were confirmed in April, with expectations that it would be completed in the second half of 2022, carrying an enterprise value of $1.25billion.

No official reason has been given for the decision, but it is believed the volatility of both the crypto and mainstream markets in recent months may be a factor.

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