CNN reported that the Russian Central Bank (RCB) and the MOEX published statements to this effect on Wednesday 12 June 2024, a bank holiday in Russia. These were released a mere hour after Washington announced the fresh sanctions. Based on CNN’s report, these penalties aim to hinder the “flow of money and goods” into Russia…
Read more
In its 13 June 2024 press release, DXTrade said that Sage Capital Management uses “market relationships and significant trading volumes” towards priority trade executions and optimal pricing. Based on this media statement, a regulated custodian holds funds to eliminate exchange risk and ensures “fast onboarding via a UK FCA-regulated entity”. Don’t miss out the latest…
Read more
Carlos Slim has an estimated fortune of £72.4bn and now has a 3.2% stake in the London-based telecom company. That makes him one of the largest BT shareholders. Slim built his empire in the Latin American telecoms market, and analysts are now speculating about his possible overall plan. French telecoms billionaire Patrick Drahl remains the…
Read more
Joonko, a New York City artificial intelligence (AI) startup, operated an AI-driven job board to promote diverse and inclusive employee hires. Based on a June 2023 New York Post report, Raz resigned after an internal company investigation found that she had “engaged in egregious, unethical and fraudulent conduct, which caused harm to the company and…
Read more
According to Riot, this move by Bitfarms is “shareholder unfriendly” and spotlights the crypto miner’s gaps in corporate management. The conflict started when Riot, which is also a cryptocurrency miner, made a $950m unsolicited bid for Bitfarms in April 2024. Bitfarms rejected this offer, stating that it did not reflect the organisation’s true market value,…
Read more
During morning trade, RPI shares were up 31%, establishing a good starting point for the company as it wishes to raise £166m with its debut. Open trade is set for Friday 14 June 2024. The firm, which makes small, single-board computers, initially priced its shares at 280p each, giving it a market value of £541.6m.…
Read more
In May 2024, Beijing announced a proposal for a 300bn CNY credit facility that could trigger bank financing for state-owned enterprises (SOEs) to buy unsold homes. Based on a Reuters report, Chinese banks are expected to furnish reduced loans to SOEs through this facility supported by the People’s Bank of China (BOC). This will enable…
Read more
The $6bn share buyback was confirmed by CFO Paul Jacobson, who pointed out that the automotive giant is ramping up its capital allocation strategy. The GM board has approved this new plan, and the repurchase of up to $6bn of the company's common shares will proceed. This new strategy is in addition to the $10bn…
Read more
The S&P 600 lists small-cap companies with market values of between $250m and $2bn. In its press release, the financial services company said that its subsidiaries VHF Parent LLC and Valor Co-Issuer, Inc. plan to issue $500m in senior first lien notes due 2031. Don’t miss out the latest news, subscribe to LeapRate’s newsletter The…
Read more
During the first week of June 2024, Toyota Motor Corporation (TM) shares dropped by more than 5.4%, constituting a loss of $15.62bn in market value. They started to recover on Monday 10 June 2024, and at 10:30 EDT, the auto manufacturer’s shares were up 1%. Mazda Motor Corporation (7261.T), Japan’s second-largest carmaker, lost 7.7% over…
Read more