Hertz to Sell Off Third of US Electric Vehicle Fleet Due to Weak Demand
Hertz Global Holdings Inc. has announced its decision to sell off a third of its US electric vehicle (EV) fleet and reinvest in gas-powered cars due to weak demand and high repair costs for its battery-powered options. The rental giant…
Surge in Freight Rates Impacting Global Oil Market, Favoring Middle Eastern Grades Over US Cargoes
A recent surge in freight rates has led to a significant impact on the global oil market, particularly in Asia. The increase in shipping costs has prompted crude oil buyers in Asia to shift their focus to Middle Eastern oil,…
Ferrara Candy Company discontinuing Fruit Stripe Gum after 54 years
An icon of the gum world has experienced its final chew. Ferrara Candy Company confirmed that it’s discontinuing Fruit Stripe Gum, which has been tickling taste buds since 1969. “We have made the difficult decision to sunset Fruit Stripe Gum,…
SEC Approval of Spot Bitcoin ETFs Sparks Interest and Investment
The recent approval of spot bitcoin exchange-traded funds (ETFs) by the Securities and Exchange Commission (SEC) has sparked significant interest and investment in the digital currency. This regulatory milestone is expected to drive substantial investment in bitcoin, with major financial…
SEC Website Breach Sparks Bitcoin ETF Speculation
The cryptocurrency market is abuzz with anticipation as the deadline for the approval of the first spot Bitcoin exchange-traded fund (ETF) in the United States looms. Today, January 10th, marks the final day for the US Securities and Exchange Commission…
Twitch to Cut 35% of Workforce in Cost-Cutting Move
Amazon’s livestreaming platform Twitch is set to cut about 35% of its workforce, amounting to approximately 500 employees, as confirmed by Twitch CEO Dan Clancy in a blog post on Wednesday. The decision comes as a part of the company’s…
Bitwise Reveals $200 Million Investment Plan for Proposed Bitcoin ETF
Crypto asset manager Bitwise has revealed that an unnamed investor is planning to inject a substantial sum of $200 million into its proposed spot market Bitcoin exchange-traded fund (ETF), as per a recent S-1 filing with the U.S. Securities and…
Chinese Tech Giants Make Strong Comeback at CES 2024
Chinese tech giants Alibaba and ByteDance have made a strong comeback at the CES tech show in Las Vegas, reflecting China’s renewed presence in the global consumer electronics arena. The event, which kicked off on January 7, 2024, has witnessed…
Unity Announces 25% Workforce Reduction and 1,800 Job Cuts
Unity, the popular game engine maker, has announced an additional 25% reduction in its workforce, resulting in 1,800 job cuts. This comes on the heels of 1,300 layoffs since mid-2022, as the company aims to refocus on its core game…
Reminder to Investors: February 6, 2024 Deadline in GM Class Action Lawsuit
Glancy Prongay & Murray LLP, a law firm based in Los Angeles, has issued a reminder to investors regarding the approaching deadline for the class action lawsuit against General Motors Company (GM). The deadline to file a lead plaintiff motion…