Unusual Whales

JP Morgan CEO Dimon has said: oil and gas will be necessary for the next 50 years

JP Morgan CEO Dimon has said: oil and gas will be necessary for the next 50 years. He also sad rates will rise above 5% because there is still ‘a lot of underlying inflation.' Dimon said the recent easing of inflation comes from temporary factors such as a pullback

The US government has hit its $31.4 trillion debt limit

The US government has hit its $31.4 trillion debt limit. Treasury Secretary Janet Yellen informed congressional leaders including House Speaker Kevin McCarthy that her department had begun using extraordinary cash management measures that could stave off default until June 5. Republicans, with a newly won House majority, aim to

The SEC has charged Sam Bankman-Fried with defrauding FTX investors

The SEC has charged Sam Bankman-Fried with defrauding FTX investors. Previously the SEC charged SBF with violations of securities law. They have written: Gurbir Grewal: We commend our law enforcement partners for securing the arrest of Sam Bankman-Fried on federal criminal charges. The SEC has authorized separate charges relating to

morgan stanley

Morgan Stanley Reports $356 Million Writedown, Which Includes Its $3.4 Billion Loan Lent to Twitter

Per Bloomberg Morgan Stanley has exposure to Twitter debt worth $3.4 billion as part of Elon Musk's acquisition deal. Including the debt by the social platform, the bank is reporting a "$356 million writedown on corporate loans on its balance sheet." When asked about Twitter,

twitter

Twitter Plans Further Layoffs | 50 People in the Production Division Could Lose Their Jobs

Per Reuters After Elon Musk's acquisition of Twitter which cost $44 billion to take the company private, the new CEO of the social platform has made headlines for his countless actions with the now-private company. One of his most notable actions was cutting Twitter's staff count

spacex

Carnival Corporation and SpaceX Reach Agreement for Global Fleet to be Equipped with Starlink WiFi

Per Carnival Corporation Carnival Corporation has just announced that it reached a new agreement with SpaceX, bringing the latter's Starlink WiFi aboard a global fleet. Now, the world's largest cruise company will use SpaceX Starlink WiFi for its connection. As one of the companies of Elon

microsoft

Microsoft's 10,000 Employee Layoff Sees Massive Cuts in Gaming Division Handling the Development of Halo

Per Bloomberg Microsoft has recently announced that it would be laying off 10,000 employees, representing just a little less than 5% of the company. Now, word has gone out regarding how the job cuts will affect the company's video-game division, specifically the developers of the beloved classic

disney

Disney's Avatar: The Way of Water Surpasses Spider-Man: No Way Home as 6th Highest-Grossing Film Ever

Per Bloomberg Walt Disney Co's Avatar: The Way of Water has surpassed the previous highest-grossing film during the pandemic, Spider-Man: No Way Home. This comes at a time when films are struggling to get record numbers during the post-pandemic era. While theaters are now open after a long

Jacinda Ardern resigns as the prime minister of New Zealand

Jacinda Ardern resigns as the prime minister of New Zealand. She said: "I am entering now my sixth year in office, and for each of those years, I have given my absolute all." "But I am not leaving because it was hard. Had that been the case

Sam Bankman-Fried reportedly inflated some crypto prices with Alameda Research

Sam Bankman-Fried used his influence in the crypto industry to inflate some coins prices through a coordinated strategy with FTX's sister company, Alameda Research, per NYT. Bankman-Fried allegedly approached developers behind projects, and worked to have trading debuts on FTX. NYT said it was a "pump-and-dump."

Crypto firm Genesis is filing for bankruptcy

Crypto firm Genesis is filing for bankruptcy, per Bloomberg's initial reporting. This is the lending unit of Digital Currency Group, and Bloomberg has reported numerous confidential negotiations with creditor groups. There was no comment to Bloomberg's repeated requests. Much of the last two months have seen

Donald Trump is preparing to come back to Twitter and Facebook

Donald Trump is preparing to come back to Twitter and Facebook. NBC first reported this news. “We believe that the ban on President Trump’s account on Facebook has dramatically distorted and inhibited the public discourse,” Trump’s campaign wrote in its letter to Meta on Tuesday, according to a

microsoft

Microsoft Announces 10,000-Employee Layoff Shortly After News of Unlimited Time Offs

Per CNBC Companies have been announcing layoffs left and right, and another massive company has declared that it will follow suit. Microsoft has just announced that through March 31, the company will let go of 10,000 employees. This comes shortly after employees were told they would be getting unlimited

getty images

AI Art Company Stability AI Gets Lawsuit from Getty Images Regarding Copyrighted Image Use

Per CNN After the popularity of AI art, more and more people are using it while questioning its legality of it. Now, the company behind an AI art service called Stable Diffusion, Stability AI, has received a lawsuit from Getty Images regarding using copyrighted images. The lawsuit comes from Getty

citigroup

Citigroup Drops 2023 Worldwide Recession Probability to 30%, Down from 50%

Per Economic Times Citigroup economists were once 50-50 about a worldwide recession in 2023, but now, they have decided to drop their estimates down to 30%. This comes as different macroeconomic factors have changed, and the global economy is improving in certain areas. The estimations by Citigroup come despite a

twitter

Twitter SF Headquarters Starts Auctioning Off Espresso Machines, Blue Bird Neon Signs, and More

Per CNBC Since Elon Musk's $44 billion acquisition of Twitter, the CEO has made drastic cost-cutting moves like letting go of two-thirds of its workforce. Now, the company is auctioning off items once part of its larger San Francisco headquarters. To get to the auction, Musk initially started

ftx

196 Out of 535 Congresspeople Took Money from FTX, with Only a Few Saying They Will Give It Back

Per Yahoo Finance Since word came out that 196 of 535 congresspeople took money from FTX, only a few have decided to announce that they will be returning the money. This comes after word broke out of Sam Bankman-Fried and senior executives' massive donations to campaign funds. Under John

Saudi Arabia is open to discussions about trade in currencies other than the US dollar

Bloomberg initially broke the story that Saudi Arabia is open to discussions about trade in currencies other than the US dollar. “There are no issues with discussing how we settle our trade arrangements, whether it is in the US dollar, whether it is the euro, whether it is the Saudi

Apple, AAPL, Card responsible for more than $1 billion in losses for Goldman Sachs, GS

Apple, AAPL, Card responsible for more than $1 billion in losses for Goldman Sachs, GS, per Bloomberg. In just the first nine months of 2022, the businesses including Apple Card saw a pretax loss of over $1.2 billion. From 2020 to the end of September 2022, those losses amounted

Twitter's revenue is down 40% year-over-year

Twitter's revenue is down 40% year-over-year, per Reuters. The initial story is from a Platformer's tweet Zoe. Recently, Elon Musk stated that user numbers were at an all time high. Of note, Elon Musk has also talked repeatedly about Twitter's word limit and is

FTX has said that $415 million worth of crypto was hacked from the exchange’s accounts

FTX has said that $415 million worth of crypto was hacked from the exchange’s accounts. This is from the $5.5 billion worth of digital assets that they say is able to be recovered. “We are making important progress in our efforts to maximize recoveries, and it has taken

economy

Report Says Richest 1% of People Amassed 2/3rds of the Past Two Years' $42 Trillion New Created Wealth

Per Oxfam A report by Oxfam says that the richest 1% amassed almost twice as the bottom 99% of new wealth created since 2020. Out of the $42 trillion, the richest amassed $26 trillion while the rest of the population only got $16 trillion. The report notes that out of

recession

61% of Economists Think Recession is Possible in the Next 12 Months: GDP Expected to Stagnate in 2023

61% of businesses and academic economists expect the US economy to go into recession this year as GDP is expected to stagnate. Despite the Feds trying to bring down inflation, most respondents think this won't happen. The report came with a graph that showed the likelihood of a

san francisco

San Francisco Commercial Real Estate Vacancies at 27.2% After 12 Quarters of Continuous Increase

Per CNBC San Francisco commercial real estate vacancies are hitting a record high as more and more commercial buildings are left empty. Commercial real estate vacancies have reached 27.2% as less commercial space is being rented. The data was gathered by CBRE research, an American commercial real estate firm,

biden

Biden's Home Didn't Take Visitor Logs Despite Classified Documents Inside

Per ABC News After news of classified documents found in President Joe Biden's home in Wilmington, Delaware, additional information suggests that no visitor logs were recorded. according to sources familiar with the situation. This would potentially mean there is no way to know who viewed the classified documents.