Square to Offer Automatic Bitcoin Conversions for Businesses: Bullish Sign for Crypto Adoption? This blog post highlights a new feature from Jack Dorsey’s Block (formerly Square) that allows Square users to automatically convert a portion of their daily sales into Bitcoin using Cash App. This could be a significant developmentContinue Reading
Klarna, the Swedish fintech giant, announced a major partnership with Uber, adding them as a payment option on the ride-hailing app and Uber Eats in the US, Germany, and Sweden. This deal strengthens Klarna’s position as a leader in the “Buy Now, Pay Later” (BNPL) space and comes as rumorsContinue Reading
Tesla’s Q1 earnings report paints a mixed picture for investors. While the company touts future advancements in autonomy and new products, current financials show a decline in profits and deliveries. Key takeaways: Profits dropped 55% YoY: Tesla’s profits fell to $1.13 billion, significantly lower than analyst expectations. Revenue dipped 9%:Continue Reading
Apple enthusiasts and investors alike were excited about the launch of the Vision Pro, the company’s foray into mixed reality headsets. However, a recent analyst report by Ming-Chi Kuo casts a shadow over the product’s future. Sharp Drop in Demand: According to Kuo, Apple has significantly slashed its 2024 VisionContinue Reading
Walmart’s Fintech Play: One vs Affirm and Beyond Walmart’s fintech startup, One, is making a play for a bigger slice of the retail giant’s financial services pie. One recently launched buy now, pay later (BNPL) loans, directly challenging Affirm, Walmart’s current BNPL partner. This move signals a potential shift inContinue Reading
Red Lobster Weighs Chapter 11 Restructuring America’s favorite seafood chain, Red Lobster, might be undergoing a major financial overhaul. According to a Bloomberg report, the company is considering filing for Chapter 11 bankruptcy as part of a restructuring plan. This move aims to tackle debt and potentially renegotiate leases andContinue Reading
Defense behemoth Lockheed Martin (LMT.N) has emerged victorious in the hotly contested race for the Next Generation Interceptor (NGI) program, a multi-year, $17 billion contract awarded by the Missile Defense Agency (MDA). This win comes as a welcome shot in the arm for Lockheed after recent setbacks, including reduced F-35Continue Reading
Piedmont Lithium Gets Green Light for N.C. Lithium Mine, But Challenges Remain Piedmont Lithium (PLL.O), a supplier to Tesla (TSLA.O), has received a key permit from North Carolina regulators to develop a major lithium mine. This mine has the potential to be one of the largest sources of lithium inContinue Reading
Tesla Slashes Workforce by Over 10%, Prepares for “Next Phase of Growth” Electric vehicle giant Tesla announced a significant workforce reduction exceeding 10% globally, according to a company memo from CEO Elon Musk. The news comes amidst a backdrop of declining stock prices and production challenges. Cost Cutting and IncreasedContinue Reading
Buyout Firms Score Big As Wall Street Banks Regain Loan Market Share Companies are ditching private lenders for cheaper rates and looser terms from traditional banks. This year, a whopping $16 billion in loans have moved from private credit funds to public markets like syndicated loans and bonds. Companies likeContinue Reading
