The Venezuelan bolívar has lost 24% of its value against the US dollar over the past year, exacerbating the country’s ongoing economic struggles. In the last eight weeks alone, the official exchange rate set by the Central Bank of Venezuela has dropped from 36.7 to 45 bolívares per dollar. This…
Ben & Jerry’s, the iconic ice cream brand known for its social activism, filed a lawsuit on Wednesday against its parent company, Unilever, accusing the consumer goods giant of censorship and threats. The lawsuit claims Unilever attempted to dismantle Ben & Jerry’s independent board to silence its support for Palestinian…
The Venezuelan bolívar has lost 24% of its value against the US dollar over the past year, exacerbating the country’s ongoing economic struggles. In the last eight weeks alone, the official exchange rate set by the Central Bank of Venezuela has dropped from 36.7 to 45 bolívares per dollar. This…
LATAM’s cryptocurrency scene is witnessing notable growth this week, with Lemon launching virtual cards in Argentina and the use of crypto ATMs in Colombia surging by 25%. These developments highlight the region’s increasing embrace of digital assets, offering new opportunities for users and businesses alike. Lemon offers virtual cards in…
Bitcoin has celebrated the return of Donald Trump to the White House in recent weeks and the momentum is unlikely to fade anytime soon, as per BCA Research analyst Dhaval Joshi. Joshi expects BTC to eventually be worth more than $200,000. He sees Bitcoin as a non-confiscatable asset that accounts…
The US Commerce Department has finalised a $6.6 billion subsidy agreement with Taiwan Semiconductor Manufacturing Co. (TSMC) for its chip manufacturing operations in Phoenix, Arizona. This deal is the first major allocation under the $52.7 billion Chips and Science Act introduced in 2022 to bolster domestic semiconductor production. The contract,…
Global brokerage CLSA has made a significant pivot in its investment strategy, moving back to Indian equities while reducing exposure to China. . The reversal marks a significant move for CLSA, which initially increased its allocation to Chinese equities in October 2024 while trimming its overweight position in India from…
“Big Short” investor Michael Burry raised his stake in Alibaba Group Holdings Ltd (NYSE: BABA) by 30% in the third quarter. He expects the tech stock to rally on the back of China’s stimulus blitz in the months ahead. Burry’s Scion Asset Management now owns a total of about 200,000…
General Motors (GM) laid off approximately 1,000 employees on Friday as part of a broader effort to reduce costs and realign its priorities in response to shifting market conditions, according to a CNBC report. The layoffs, communicated to affected employees Friday morning, were spread across various departments. Some were tied…
China is set to strengthen its position in Latin America with the official opening of the first phase of the Chancay port project, located 70 kilometers north of Lima. This $3.4 billion venture, spearheaded by China’s state-owned Cosco Shipping Company, is poised to become a vital logistics hub in the…