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Chinese generosity unmasked as Pakistan drowns in stealth debt
The strategic alliance between China and Pakistan, especially in economic arenas, has recently come under scrutiny. A U.S.-based research lab, AidData, has released a report revealing that a staggering 98% of Chinese financial support to…
WeWork’s financial freefall from $47 billion to bankruptcy
WeWork, once a high-flying startup with a $47 billion valuation, has succumbed to the pressures of the turbulent commercial real estate market, filing for Chapter 11 bankruptcy protection. The company’s zealous expansion strategy in its…
KKR to absorb Telecom Italia’s debt in €18.8 billion acquisition
In a seismic shift for Italy’s communications landscape, Telecom Italia’s board has given the green light to an €18.8 billion ($20.2 billion) acquisition by KKR, signaling a bold move by the investment firm into European infrastructure amid…
Japan rolls out $113 billion economic plan amid rising inflation.
As inflationary pressures continue to mount, the Japanese government, in a decisive move, has rolled out a comprehensive $113 billion (17 trillion yen) economic package aimed at mitigating the adverse impacts of inflation on the nation’s…
UK unveils plans for comprehensive crypto regulation by 2024
The United Kingdom has made its intentions clear to establish a solid foundation for the cryptocurrency industry. In a recent publication, the U.K. government has outlined its plans to introduce formal legislation governing crypto…
Shares of Siemens Energy nosedive 35 percent post government aid request
In a dramatic market response, Siemens Energy saw its shares plummet by 35% on Thursday, subsequent to its appeal to the German government for financial guarantees. This comes in the wake of the wind power behemoth’s earlier decision to…
X reports 15 percent user decline, 54 percent US ad revenue slide under Musk in a year
A year has passed since billionaire Elon Musk acquired Twitter, now rebranded as “X,” for a whopping $44 billion. Despite initial hesitations, the deal eventually went through, much to the surprise of the tech world. Since then, a…
Central bank of Turkey lifts benchmark interest rate to 35 percet amid inflation woes
In a decisive move to tackle rampant inflation, Turkey’s central bank announced a significant hike to its benchmark interest rate from 30% to 35% this Thursday. This adjustment aligns with the forecasts made by economists who participated…
Digital ad resurgence propels Meta to a 23 percent revenue spike in Q3
In a surprising reveal, tech giant Meta has exceeded market predictions with a substantial 23% rise in its third quarter revenue, marking the steepest growth since 2021. As per the company’s forward-looking statements, they project their…
Exxon and Chevron dive deep into oil amid clean energy surge
Despite the worldwide momentum toward clean energy, two of America’s oil giants have recently placed significant bets on fossil fuels. Both Exxon Mobil and Chevron have announced massive acquisitions in the past month, revealing a strong…