Italy imposes a 40% tax on bank profits
Italy has approved a one-time 40% tax on profits earned by banks from rising interest rates and plans to use the money to help mortgage holders, sending bank stocks tumbling.…
Yellow goes bankrupt due to debt
As we reported earlier, Yellow Corp. now officially filed for bankruptcy and will remain shuttered throwing 30,000 people out of work. “It is with profound disappointment that Yellow announces that…
PayPal launches PYUSD stablecoin
PayPal launched a new stablecoin called PayPal USD (PYUSD) on August 7. The US dollar-linked Stablecoin will be issued by Paxos Trust Co. and will be fully backed by dollar…
Saudi Arabia’s oil to get more expensive
Saudi Arabia raised almost all oil prices for Asia and Europe for September as supply constraints and rising demand tighten the crude market. State-owned Saudi Aramco raised the price of…
