Connect with us

Business

Wall St closes lower following Pelosi’s Taiwan visit

Published

on

Wall Street has closed lower following U.S. speaker of the House Nancy Pelosi’s visit to Taiwan

China has condemned the diplomat’s visit, labelling it a threat to global peace and stability. 

Microsoft and Visa lost 1.1 per cent and 2.4 per cent respectively, with all 11 S&P 500 indexes loosing ground.

Shares in chipmaking companies that are heavily exposed to China were mixed.

Caterpillar tumbled 5.8 per cent amid warnings of a drop in demand for its excavators in China.

Of course, the markets have been suffering in recent months as the war in Ukraine, soaring inflation and tightening financial conditions all have an impact.

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.

Business

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

Published

on

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.

Continue Reading

Business

Why a Bitcoin mining company is going against a major merger

Published

on

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.

Continue Reading

Business

American Airlines is getting into supersonic travel with major Boom order

Published

on

What was once a pipe dream – to fly as they did on the Concorde – American Airlines is bringing back supersonic travel.

The US airline has agreed to purchase 20 supersonic Overture planes from Boom Supersonic.

The deal is the second firm order in the last two years for Boom, which is still years from building its first commercial airplane. 

“Passengers want flights that are faster, more convenient, more sustainable and that’s what Overture delivers,” Boom CEO Blake Scholl told CNBC.

“Flight times can be as little as half as what we have today, and that works great in networks like American where we can fly Miami to London in less than five hours.”

Last year United Airlines made a commitment to buy 15 Overture jets.

Boom says the Overture jet will dramatically cutting trans-Atlantic and trans-Pacific flight times. 

“Supersonic travel will be an important part of our ability to deliver for our customers,” American’s chief financial officer, Derek Kerr, said in a statement announcing the order.

American has the option to purchase another 40 Overtures in the future.

Continue Reading

Trending Now

Copyright © 2022 The Ticker Company PTY LTD