ECB and Bank of England raise interest rates again against inflation

ECB and Bank of England raise interest rates again against inflation

London CNN — Europe’s two largest central banks raised interest rates sharply on Thursday, opting for a bigger increase than the US Federal Reserve as inflation in the region remains near historically high levels. The European Central Bank (ECB) and the Bank of England both raised interest rates by another half a percentage point. Benchmark … Read more

Shell reports profits of nearly $40 billion and announces $4 billion in buybacks

Shell reports profits of nearly  billion and announces  billion in buybacks

Hong Kong/London CNN — Shell made a record profits of nearly $40 billion by 2022, more than double what it brought in last year after oil and gas prices soared following the Russian invasion of Ukraine. Europe’s largest oil company by revenue reported an adjusted full-year profit of $39.9 billion on Thursday – more than … Read more

Adani scraps $2.5 billion stock sale as his empire’s value collapses

Adani scraps .5 billion stock sale as his empire’s value collapses

London CNN — Indian billionaire Gautam Adani on Wednesday abandoned a deal to raise $2.5 billion from investors following a weeks-long collapse in the value of his logistics and energy business empire that began when a US short seller accused the conglomerate of fraud. The share sale – the largest offering from a company already … Read more

Biden Proposes Junk Fee Bill To Cut Hidden Fees For Credit Cards And Concert Tickets

Biden Proposes Junk Fee Bill To Cut Hidden Fees For Credit Cards And Concert Tickets

CNN — President Joe Biden announced new advancements on his administration’s “competitive agenda” on Wednesday, specifically targeting unwanted fees while calling on Congress to pass legislation targeting hidden fees across multiple industries. These costs could “pull hundreds of dollars a year out of the pockets of hard-working American families, especially people who are already struggling … Read more

GM shares soar after record profit and new stake in lithium company

GM shares soar after record profit and new stake in lithium company

New York CNN — General Motors reported much stronger-than-expected earnings in the fourth quarter, pushing its full-year results to record levels for the second year in a row. The largest U.S. automaker also said on Tuesday it is buying a $650 million equity stake in Lithium Americas, giving it access to the raw material needed … Read more

Adani Group beats Hindenburg ‘attack on India’ as share price hits $70 billion

Adani Group beats Hindenburg ‘attack on India’ as share price hits  billion

New Delhi CNN — The Adani Group has accused a US investment firm of launching “a calculated attack” on India by publishing a report alleging widespread fraud at the Ports-to-Power conglomerate. Hindenburg Research last week released its report on billionaire Gautam Adani’s affairs, accusing the group of “brutal stock manipulation and accounting fraud over decades.” … Read more