Ilon Musk lost $12.3 billion in one day due to the fall in Tesla shares, Bloomberg reports. Earlier, the electric car manufacturer was excluded from the S&P 500 ESG index. At the end of the trading session on Wednesday, May 18, shares of Tesla) fell 6.8% to close at $709.81. The fall was caused by […]

The Russian division of Google will soon be without employees, writes The Wall Street Journal. Most of the company’s employees have already left Russia and will continue working in its office in Dubai, while others preferred to stay in the country by quitting the company. A division of Alphabet (Google’s parent company) began offering employees […]

Indian state-owned oil and gas company ONGC has decided to start negotiations on the purchase of Shell’s stake in the “Sakhalin-2” project. This is reported by The Economic Times, citing a source. It is also noted that in addition to buying Shell’s stake, ONGC wants to buy ExxonMobil’s stake in the “Sakhalin-1” project. The newspaper’s […]

Amid a heated dispute between social network Twitter and Tesla and SpaceX CEO Ilon Musk that Twitter believes less than 5% of accounts on the network are fake, 2 research groups have revealed that among Ilon Musk’s followers, probably more than 23% are fake or spamming accounts, Business Insider writes. A joint analysis by 2 […]

Entrepreneur Vladimir Potanin has reported “hundreds of millions” given by him for Oleg Tinkov’s stake in Tinkoff Bank. The corresponding statement he made in an interview with Interfax. “To call hundreds of millions of dollars kopecks my tongue does not turn. For me this is a lot of money,” Potanin said. “About the price, the […]

China is negotiating with Russia to buy oil to replenish its own energy reserves. This is reported by Bloomberg. It is claimed that the negotiations are being conducted at the governmental level with little direct participation of oil companies. However, one of the agency’s interlocutors noted that the terms of the potential deal have not […]

Recession fears will lead the U.S. stock market to fresh losses at the open, and data on jobless claims, home sales and manufacturing activity could hit it further. Bond yields are falling as recession fears override inflation fears, while the new reports reinforce speculation that the euro zone will end the year with a positive […]

Billionaire Leo Coguane, who calls himself Tesla’s third-largest individual shareholder, has demanded that the company conduct a $15 billion share buyback, CNBC reported. Responding to a tweet by Tesla’s senior director of investor relations Martin Veach, Coguane said the automaker should buy back $5 billion worth of shares as early as this year and $10 […]

Billionaire and founder of crypto exchange Binance Changpeng Zhao wrote on Twitter that he is “poor again” after the collapse of crypto-token Luna, as Binance’s holdings in the crypto-asset, which were once worth $1.6 billion, are now worth about $2200, Business Insider writes. Zhao is probably lying, though: he’s still a billionaire, and Binance is […]

In April, consumer prices in Japan increased by 2.5% compared to the same month a year earlier – the highest rate since October 2014, according to data from the country’s Ministry of Internal Affairs and Communications. The inflation rate exceeded the 2% mark for the first time since September 2008, excluding the effect of a […]

During today’s trading, the US dollar is changing slightly against the euro and the Japanese yen. At the same time, the dollar index may interrupt the six-week series of growth and end the week with a decline, as the continuing weakness of U.S. statistical data amid aggressive tightening of monetary policy by the Federal Reserve […]

The People’s Bank of China (PBOC, the country’s central bank) unexpectedly cut its 5-year benchmark lending rate (LPR) by 15 basis points to 4.45% from 4.6%. The rate cut was the maximum since the rate reform in 2019. The one-year lending rate was left at 3.7%, the NBK said in a statement. It was cut […]

Last November, the world’s largest cryptocurrency, bitcoin, soared to $68,990 and is now around $29,000 – a staggering 58% pullback from its peak, Yahoo writes. American investor and author of the investment book Rich Dad Poor Dad, Robert Kiyosaki believes, paradoxically, that the crisis is the best time to buy. According to him, if the […]

The dollar exchange rate fell by 2.04 rubles or 3.3% – to 59.86 rubles. – at the beginning of trading on Friday, May 20, according to data from the Moscow Exchange. The dollar exchange rate on Mosbirge fell below 60 rubles for the first time since April 9, 2018. The euro fell below 61 rubles […]

According to Anatoly Aksakov, chairman of the Financial Market Committee of the Russian State Duma, the first digital financial assets based on Russian blockchains may appear this year, Bitcoin.com writes. Speaking at the Moscow Academic Economic Forum, Aksakov noted that active work is now underway in this area following the adoption of the law “On […]

Russia’s revenues from gas sales to the EU will reach a record $100 billion in 2022, thanks to a rapid rise in prices, French publication Les Echos writes, citing a forecast by analysts at Citigroup (NYSE:C). That amount is double the amount from last year, when fuel prices “were already high,” and does not take […]

The American metallurgical corporation Arconic has announced its intention to sell its business in Samara, which will entail a loss of up to $500 million, the company’s press service reported. “The company has conducted a thorough analysis of strategic alternatives, taking into account the restrictions imposed on our operations by the Russian government and as […]

Finland’s gas company Gasum said that Russia may stop importing natural gas this week. This is reported on the company’s official website. “There is a real risk that natural gas supplies under the company’s contract will cease, and there is also a possibility that natural gas imports from Russia to Finland will cease either late […]