Reports surfaced on Saturday evening that Pavel Durov, the billionaire founder and CEO of the popular messaging app Telegram, was arrested at Bourget airport in Paris. This incident has sparked widespread speculation and concern about the reasons behind his arrest. Telegram, known for its significant influence in Russia, Ukraine, and other former Soviet Union countries,
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Entrepreneur Elon Musk, the CEO of Tesla, has made headlines by publicly endorsing former President Donald Trump for reelection. This unexpected move has caused a stir among his followers and the general public, as Musk has previously supported Democratic candidates in past elections. Musk’s endorsement of Trump marks a significant shift towards right-wing politics for
China’s advancements in the field of autonomous driving have been making headlines lately, especially with the increasing popularity of robotaxis among consumers. However, this technological advancement is causing concern among traditional taxi drivers who fear losing their jobs due to the rise in competition. The trend of robotaxis in China is gaining momentum, with local
The recent rally of Chewy shares was triggered by a picture posted by Roaring Kitty, also known as Keith Gill, on social media platform X. The image, which resembled the logo of the online pet food retailer, caused the stock to surge by as much as 34% to $39.10. However, these gains were short-lived as
Tropical Storm Alberto, the first named storm of the 2024 Atlantic hurricane season, has made its presence known over the western Gulf of Mexico. This storm, as reported by the U.S. National Hurricane Center (NHC), is already causing coastal flooding along the southern U.S. coast, posing a potential threat to the affected regions. The NHC
Billionaire investor Bill Ackman has taken a major step by selling a 10% stake in Pershing Square, a move aimed at eventually making his investment firm public. The fundraising round saw the company raise $1.05 billion, representing 10% of the management company and suggesting a valuation of $10.5 billion. The investors involved in the deal
In recent years, there has been a noticeable shift in the preferences of Chinese travelers, with many opting for domestic destinations over international tourist spots. This change in behavior is reflected in a survey conducted by consulting firm Oliver Wyman, which found that only 14% of high-income households in mainland China, earning at least 30,000
GameStop and AMC, two popular meme stocks, experienced significant drops in their share prices on Wednesday. GameStop, a brick-and-mortar video game retailer, saw a decline of 29%, while AMC, a movie theater chain, dropped by 22%. This came after both stocks had seen impressive gains earlier in the week, with GameStop up 179% and AMC
AMC Entertainment recently announced the successful completion of a new equity capital raise, generating approximately $250 million in funds. This move took place amidst a resurgence of the meme stock craze, ignited by the return of “Roaring Kitty.” The company sold 72.5 million shares in an at-the-market equity offering that commenced on March 28. Despite
The Securities and Exchange Commission (SEC) in the Philippines made a bold move by ordering Google and Apple to remove cryptocurrency exchange Binance from their app stores. This action came after the regulator expressed concerns about the security of Filipino investors’ funds due to continued access to Binance sites and apps. SEC Chairperson Emilio Aquino
The Republican-controlled U.S. House of Representatives is gearing up to vote on a $95 billion legislative package that provides security assistance to Ukraine, Israel, and Taiwan. This move has sparked bitter objections from party hardliners, creating a rift within the Republican Party. Despite objections from some hardline Republican members, House Speaker Mike Johnson has decided
In response to a recent order from the Australian regulator demanding the removal of certain posts related to the stabbing of a bishop in Sydney, social media platform X has vowed to take the matter to court. This order came after a 16-year-old boy was charged with a terrorism offence for the stabbing of Bishop