Siemens Energy shares collapsed 40% in a day due to turbines quality issues
Siemens Energy shares fell nearly 40% on Thursday, sending its market value down €3 billion ($3.16 billion), after the group said it was in talks with the German government for…
ECB leaves interest rates unchanged
The European Central Bank left interest rates unchanged at 4.50% for the first time in more than a year as it gauges whether an unprecedented series of hikes will succeed…
MasterCard mulls cooperation with MetaMask and Ledger
Mastercard is exploring how best to collaborate with self-custody wallet firms like MetaMask and Ledger. The company pointed out in a presentation deck that having a payments card can help…
Saudi Arabia to get digital replicas of Mecca, Riyadh
Saudi Arabia will have so-called digital twins, or virtual versions of five cities, including Riyadh, Medina and Mecca. They will be built by South Korean Internet leader Naver Corp. which…
US budget deficit reviewed
Bloomberg reviewed the numbers here and found that one of the main drivers of the increased US budget deficit in 2023 is… revenue. Specifically, there was a $456 billion drop…
Country Garden defaults for the first time
Chinese property developer Country Garden Holdings Co. has defaulted on dollar bonds for the first time, highlighting its distress. The builder, among the world’s most indebted developers, didn’t pay $15.4…