SEC to address SPAC issues

According to an interview with Gary Gensler, Chair of SEC, the regulator is now working on new rules to address SPAC issues. Gensler stated that the new rules should mostly focus on fees and specified that the SPACs need greater disclosure and better transparency.

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AstraZeneca buying TeneoTwo

Just moments ago, AstraZeneca has stated that it will buy a biotechnology firm TeneoTwo for 1.27 billion dollars. The move should help with the "cancer portfolio" of AstraZeneca, since the U.S.-based TeneoTwo has been testing some experimental treatments such as T-cell engager, which are used to fight the cancerous cells.

EU trying to lure IPO investments

The EU Listing Act, which is supposed to be put forward by the end of this year, should help incentivize mainly deep technology companies to open up and raise funds in Europe. The main reason behind attracting an expected 47 billion dollars is the ease with which the founders will be able to keep the control over the firm once it goes public.

Almost 60 000 Teslas with a glitch?

According to Germany's road traffic agency, almost 60 000 Teslas model Y and 3 may have a glitch. The software flaw can cause a breakdown of the eCall, which are designed to contact emergency responders in the event of a serious accident. KBA, the German watchdog that specified found this glitch, stated that 59 129 vehicles can have this problem.

S&P 500 with a horrific result

Bitcoin is not the only asset that is having bad time now. The same applies for one of the biggest US indices, S&P 500, which has just ended the first half of the year down 20.6 %. This is the worst start to a year since 1962.

Worst first half of the year in 50 years

According to the recent numbers, the S&P 500 is on its way to close one of its worst first halves of the year in history. With about 20 % of the value of the index erased from January till June, S&P 500 is heading to the worst close of the first half of they year since 1970. Whether the loss can go even deeper depends solely on today's close.

Howard Marks looking for bargains

Founder of Oaktree Capital, Howard Marks, have specified today that now is the time for bargain hunting. He stated that as of today, he is starting to behave more aggressively, since everything is significantly cheaper as it was a year ago. Thus, he believes that now is the time to start buying.

More market movers

Another crypto lender going bust

Voyager, a currently troubled crypto lender, has just filed for Chapter 11 bankruptcy in the United States. The company is seeking a restructuring plan, which they view as the best options under the current circumstances. The list of crypto companies being troubled by the current market stage is thus still growing.

Euro-dollar parity incoming?

Most of the currencies are weakening in pair with dollar. However, euro seems to be losing steam pretty sharply as it reached the weakest point since 2002 in pair with dollar. The situation is so dramatic, that with 1.02 dollars "buying" 1 euro, many believe that the parity of these two currencies is closer than ever.

AstraZeneca buying TeneoTwo

Just moments ago, AstraZeneca has stated that it will buy a biotechnology firm TeneoTwo for 1.27 billion dollars. The move should help with the "cancer portfolio" of AstraZeneca, since the U.S.-based TeneoTwo has been testing some experimental treatments such as T-cell engager, which are used to fight the cancerous cells.

EU trying to lure IPO investments

The EU Listing Act, which is supposed to be put forward by the end of this year, should help incentivize mainly deep technology companies to open up and raise funds in Europe. The main reason behind attracting an expected 47 billion dollars is the ease with which the founders will be able to keep the control over the firm once it goes public.

New luxury crypto card released

Bitcoinblack has just released a new crypto card in cooperation with Visa. The card should have no spending limit policy and will be issued only to 10 000 people. It will offer different benefits and perks for the high-net-worth individuals in the cryptospace from access to luxury mansions, airport lounges, private jets any much more.

Israel CB significantly hiking rates

Interest rate hikes by central banks can be seen all over the world. The Israel central bank is yet another institution that has decided to tackle the inflation by hiking the interest rates. The monetary committee of the country decided half a percentage point rate hike, from 0.75 % to 1.25 %, which is the biggest move since 2011.

News

Gold is in free fall, attacking 1750$

Gold is in free fall, attacking 1750$

The fear of economic slowdown brings a bloodbath for gold. The yellow metal is negatively affected by the possible recession fears.
USD/JPY stays strong despite a plunge in yields

USD/JPY stays strong despite a plunge in yields

USD/JPY has so far ignored recent plunge in bond yields as there are really no reasons to buy JPY right now.
Norway strike could cut oil output by 15%

Norway strike could cut oil output by 15%

Workers on offshore oil and gas platforms have launched a strike, which the union says is expected to escalate over time.
Reserve Bank of Australia raises base rate

Reserve Bank of Australia raises base rate

The Reserve Bank of Australia (RBA) raised its base rate by half a percentage point to 1.35%. It shows us the fastest increase since 1994.