Charlie Munger warns of the vulnerability of US banks with “bad loans” as property prices fall. TWC – Charlie Munger, the 99-year-old investor and vice chairman of Berkshire Hathaway, has issued a warning about the US commercial property market. During his interview with the Financial Times, Munger voiced his concerns regarding the vulnerability of US […]
Banks await news from the US government regarding the fate of San Francisco lender First Republic (FRC) after the deadline to submit bids passed. TWC – Banks including JPMorgan Chase, Bank of America, PNC Financial Services Group, Citizens Financial Group and US Bancorp were invited to bid by the Federal Deposit Insurance Corporation. However, Bank […]
Richard Sharp steps down as chairman of the BBC following revelations of his involvement in facilitating a loan for former UK Prime Minister Boris Johnson. TWC – Richard Sharp, the chairman of the British Broadcasting Corporation (BBC), has resigned following a report that revealed his involvement in facilitating a loan of almost $1 million for […]
Microsoft’s Bet on Cloud Gaming Trips Up Its Acquisition Plans TWC – Microsoft’s $68.7 billion offer to buy Activision Blizzard has hit a roadblock after UK regulators blocked the deal. The acquisition, which would have been one of the biggest in video game history, was aimed at bolstering Microsoft’s Xbox gaming division and adding popular […]
Comedians Vladimir Krasnov and Alexei Stolyarov, also known as Vovan and Lexus, claim credit for the stunt. TWC – The head of the US central bank, Jerome Powell, was pranked by Russian comedians Vladimir Krasnov and Alexei Stolyarov, known as Vovan and Lexus. The duo, who have previously targeted high-profile figures such as Prince Harry […]
JPMorgan’s acquisition of Frank founder Charlie Javice is causing legal troubles and cutting off her funding sources. TWC – Charlie Javice, the founder of Frank, a financial aid site, who sold her company for $175 million, is now running out of money. Javice is fighting multiple lawsuits, one against JPMorgan Chase, the company that acquired […]
Audio-based social media app aims to launch the next evolution of its product TWC – Clubhouse, the audio-based social media app that quickly gained popularity during the pandemic, has announced that it is laying off half its workforce to refocus on product development. In a Thursday email to employees, founders Paul Davison and Rohan Seth […]
Amazon’s Q1 earnings beat expectations, but cautious comments regarding AWS customers’ optimizations resulted in a slowdown in growth and a 2% drop in share prices. TWC – Amazon reported its first-quarter earnings on Thursday that exceeded expectations and initially led to increased shares. However, the slowdown in Amazon Web Services (AWS) cloud unit due to […]
To ease affordability for locals and cool the red-hot housing market, Singapore has doubled its tax rate for foreign property buyers. TWC – Singapore’s government is implementing measures to cool its red-hot housing market, including increasing property taxes to ease locals’ affordability and maintain its financial hub competitiveness. In a statement, the government announced that […]
Prime Minister Datuk Seri Anwar Ibrahim dismisses claims of ulterior motives, says the open house is not a waste but a government programme TWC – Prime Minister Datuk Seri Anwar Ibrahim has dismissed claims that the Madani Aidilfitri open house organised in six states has ulterior motives, stating that it is a government programme aimed […]