chapter 11

US commercial Chapter 11 bankruptcy cases was 68% more than the same point a year ago

Per Market Watch There have reportedly been much more Chapter 11 bankruptcy cases in the US compared to just a year ago. In June, there were 217,000 bankruptcy cases filed, a 17% increase from the 185,000 cases filed in the same period in 2022 but for commercial Chapter

bill ackman

Bill Ackman promotes JPMorgan CEO to run for president, saying it would be a 'huge loss' if he didn't

Per Business Insider Billionaire Bill Ackman is now being more vocal about who he wants to run for US president. Specifically, he wants JPMorgan CEO Jamie Dimon to run, saying it would be a "huge loss" if he didn't. Ackman: "It is a huge loss

UBER

Uber Eats, DoorDash, and Grubhub join forces to challenge new NYC law that pushes app food delivery workers to receive minimum wage

Per CNN Three of the largest food delivery apps are working together to fight against a law that could impose them having to pay a minimum wage to food delivery workers. The law comes from NYC and is now being challenged by Uber, DoorDash, and Grubhub. The three companies are

goldman sachs

Goldman Sachs rates Netflix 'neutral' by raising the target price to $400

Goldman Sachs is expressing its bullish estimations on Netflix, saying that the firm was raising its rating to "neutral." This came with a change in price target, raising it to $400. Initially, Goldman Sachs placed its price targets for Netflix at just $230. Upon announcement of the news,

Ukraine’s foreign currency reserves are at a record high of $38.99 billion

Ukraine's foreign exchange reserves have reached a historic milestone, exceeding $39 billion, primarily due to financial assistance from Western partners. This record high represents the highest level of reserves the country has achieved in over 30 years since gaining independence from the Soviet Union. Andriy Pyshnyi, the Governor

A Canadian judge has ruled that the “thumbs-up” emoji is just as valid as a signature, arguing that courts need to adapt to the “new reality” of how people communicate as he ordered a farmer to pay C$82,000 for an unfulfilled contract

In a recent case in Saskatchewan, Canada, a judge ruled that the "thumbs-up" emoji holds the same validity as a traditional signature, emphasizing the need for courts to adapt to the modern methods of communication. The ruling came as a farmer was ordered to pay C$82,

The average 30-year fixed mortgage rate is 7.22%

Mortgage rates have surged, with the average rate for a 30-year fixed mortgage reaching 7.22%, the highest since early November. This increase is partly due to the rise in the yield on the 10-year Treasury, driven by a robust employment report from ADP. Federal Reserve Chairman Jerome

Lenders in Canada are now seeing 60-, 70-, even 90-year mortgages as Canadians struggle with rocketing interest rates

Some homeowners are facing extremely long amortization periods due to high interest rates. While the standard time to pay off a mortgage is 25 years, existing homeowners with 'fixed-payment' variable-rate mortgages are seeing their amortization periods extend to as much as 90 years. This happens because

President Biden is reportedly providing banned cluster munitions to Ukraine, despite the Cluster Munitions Treaty signed by over 100 countries

Per Excellent reporting of NYT President Biden and his team have been grappling with a challenging dilemma concerning the conflict in Ukraine for over six months. They have been deliberating whether to allow Ukrainian forces to deplete their desperately needed artillery ammunition in their fight against Russia or to provide

private sector

Private sector added close to half a million jobs in June, doubling expectations

Per CNBC After a brutal round of major layoffs, especially in the tech sector, there has reportedly been a large hiring spree that happened in June. This was as the private sector added 497,000 jobs, doubling initial expectations, according to ADP. The most hires were said to be in

belarus

Belarus President Lukashenko says Russian nuclear weapons won't be used

Per Nikkei The President of Belarus, Alexander Lukashenko, has assured the public that Russian nuclear weapons won't ever be used. These weapons were deployed in his country. So far, Lukashenko remains the Kremlin's ally regarding the war in Ukraine and it was noted that the two

us

US continues $1 billion annually to Russia's nuclear program despite tension

Per BI US companies are still reliant on affordable nuclear fuel from Russia, resulting in $1 billion spent annually on the Kremlin's nuclear agency. This was according to the NYT, which shared how the money was spent mostly on enriched uranium. Darya Dolzickova, Royal Tank United analyst, said

realtor.com

Realtor.com doesn't expect housing affordability to improve due to undersupply in the market for a decade

Per BI Realtor.com says that it doesn't expect housing affordability to improve. This was explained to be due to borrowing costs and home undersupply. These issues reportedly built up over the past decade, according to Danielle Hale from Realtor.com. The chief economist went on CNBC to

META

Canada claps back at Meta for its plan to remove news availability in response to Bill C-18 by deciding to remove gov't ads on Facebook and Instagram

Per Bloomberg The Canadian government has decided to clap back at Meta's response to Bill C-18. Now, the government is removing its official ads from Facebook and Instagram. This comes after Meta decided to end news availability on its platform for Canada after Bill C-18 would

amazon

Amazon ordered 100,000 vehicles from Rivian in 2019 and expects them to be part of its global fleet by 2030

Per Reuters In 2019, Amazon made a huge order to buy 100,000 vehicles from Rivian, and so far, the company has only been able to launch a few EVs. The electric vans which were ordered are now being deployed in Germany. More specifically, the electric vans will be deployed

chatgpt

ChatGPT declined in June, with a 9.7% drop in mobile traffic and a 5.7% drop in unique visitors

Per Reuters OpenAI's ChatGPT has made records for how fast it once got users, but in June, the artificial intelligence chatbot experienced its first decline in users. This was for both mobile and web traffic. Similarweb data revealed that mobile traffic for ChatGPT dropped 9.7%, while unique

BlackRock, $BLK, CEO Larry Fink has said that bitcoin is an "international asset."

Larry Fink, CEO of BlackRock, has said that I do believe the role of crypto is...it is digitizing gold in many ways."......."Let's be clear: bitcoin is an international asset" For reference, BlackRock has filed for a bitcoin ETF. BlackRock is making a move

US 2 year/10 year yield curve are currently at their deepest inversion in 42 years

On Monday, a significant part of the U.S. Treasury yield curve experienced its most pronounced inversion since the time of high inflation under Fed Chairman Paul Volcker. This inversion reflects concerns in the financial markets that the prolonged cycle of interest rate hikes by the Federal Reserve will push

cnbc

CNBC survey finds 41% of CFOs believe AI would destroy more jobs than it creates

Per CNBC The CNBC CFO Council's latest quarterly survey assessed what CFOs thought of AI and its effect on jobs. The study revealed that they believe that artificial intelligence would create fewer jobs than it would destroy. It was noted that only 18% of participants thought that AI

europe

Europe prices drop below zero with excess supply and a surge in solar energy

Per Bloomberg The price of power in Europe has dropped below zero amid a surge in solar power. This comes as solar power-produced energy overwhelms the grid. To cut fossil fuel demand, Europe has been building more cheap solar farms, which resulted in negative intraday prices in the power

us

US, UK lawmakers press HSBC CEO over HK expats being denied access to their retirement funds

Per Reuters HSBC allegedly blocked access for Hong Kong expats to their own retirement funds. This resulted in lawmakers in the US and Britain putting pressure on the bank, which was already the subject of criticism for its alleged actions. The pressure comes from the chair of US Congress, Mike

twitter

Twitter sued over allegedly ducking around 900 ex-worker arbitration cases since Elon Musk's acquisition

Per Reuters One major thing that Elon Musk did almost immediately after acquiring Twitter was to lay off massive numbers of employees. Now, the company is being sued for "allegedly refusing to process" arbitration cases from ex-workers. It was reported that there were 891 of these cases

may

May saw record low US home sales than any other month

Per Redfin US home sales saw a record low in May compared to other months, falling 7.1% year-over-year to 1.4 million units. This number was on a seasonally adjusted basis, which was the lowest since 2012. The decline was also recorded as the first annual decline

uae

UAE plans to reach net zero emissions by 2050 with $54 billion investment into renewables over the next seven years

Per CTV News The United Arab Emirates is planning to reach net zero emissions by 2050. In order to do this, they are planning to invest $54 billion into renewables like low-emission hydrogen fuel and EV development infrastructure over the next seven years. The news came from Dubai'

harvard university

Harvard University sued by groups over preferential treatment for alumni children and wealthy donors violating Civil Rights Act

Per Bloomberg Law Harvard is being used by multiple groups over how it gave preferential treatment to alumni's children and big-money donors. The groups argue that this decreases application accessibility likely for "people of color.:" This has resulted in Justin Neil Gorsuch approaching the Supreme