Meta/Facebook Poised For Massive Layoffs Beginning Wednesday
Meta, parent company to Facebook, is reportedly set to begin large-scale layoffs as soon as Wednesday, according to a new report in the Wall Street Journal. The layoffs will be…
OPEC Predicts Global Oil Demand Will Rise
OPEC issued its 2022 World Oil Outlook report this week. In it the cartel predicted global oil demand is going to continue to rise in the medium and long term,…
As China Possibly Backtracks On Zero-Covid, Investors Gain Hope
Despite governmental denials, rumors are spreading China may be about to make some major changes to its zero-Covid policy soon in an effort to boost economic confidence and more effectively…
Berkshire Hathaway Switches To Equity Accounting Method For Occidental Stake
After changing its accounting for its stake in Occidental Petroleum Group, Berkshire Hathaway Inc could now see its bottom line balloon. Berkshire announced in its third quarter report it was…
Britain Expands Russian Gold Ban
According to government documents, the UK has expanded the government ban on importing Russian gold. Appearing on a British government website, the documents note the ban will target “gold jewelry…
S&P Global Report Shows Eurozone Manufacturing Continues To Contract
A new study by S&P Global shows that the weakening global demand for products has crushed Eurozone manufacturing to the lowest levels seen since the Covid-19 pandemic. In October the…
UBS Chairman Says Global Bankers Betting On China
On Wednesday, UBS Bank Chairman Colm Kelleher said that despite concerning reports in the Western media, international investment bankers are still bullish over the prospects for the Chinese economy. Speaking…
Japanese Energy Company SODECO Retains Stake In Sakhalin-1
On Friday Japan’s Economy and Industry Minister Yasutoshi Nishimura announced that SODECO, the Japanese energy company would be retaining its 30% stake in the new legal entity Russia is creating…
Liz Truss’ Mini-Budget Almost Collapsed Many Pension Funds
The governor of the Bank of England, Andrew Bailey said in an interview with Channel 4 that the financial crisis triggered in September by Liz Truss’ mini-budget nearly triggered a…
Twitter Sued Over Layoffs
Lawyers filed a class-action lawsuit against Twitter over the recent mass layoffs ordered by billionaire automaker and new owner Elon Musk. Following the company memo informing employees of the impending…
