Oil’s Prolonged Slump Turning Around in 2022 Back in the summer of 2014, OPEC got into a price war with US shale producers — causing oil prices to plunge for the better part of a decade. The earliest days of the pandemic slowed demand to a crawl, pushing the global [...]
From Zero to Fear-o Yesterday’s Fed statement was mostly in-line with what many were expecting — and it was met with a moody market that again saw a big swing going from strongly positive to strongly negative in the span of 90 minutes. Rates remained unchanged, the tapering program will [...]
Auto Lending Became a Bigger Part of Bank Balance Sheets in 2021 Auto lending is providing consumer banks with a boost at a time when lending activity is down. Bank of America (BAC), Wells Fargo (WFC), and Ally Financial (ALLY) all posted significant increases in auto loan originations last year. [...]
As Meme Stock Ride Ends, AMC Looks to Refinance Some 12 months removed from the meme stock craze that saw AMC’s (AMC) stock price soar, most of those gains are now lost. Shares were down 39% so far this year through the end of Monday trading. AMC executives took on [...]
DNEG Deal Underscores Production Companies’ Constant Push for Content DNEG, a major player in the Hollywood visual effects industry, is going public by merging with a special-purpose acquisition company, or SPAC. The deal values the studio at nearly $1.6 billion. DNEG is best known for its work on Oscar-winning movies [...]
IRS Dealing With Massive Backlog of Returns and Staffing Shortages Tax filing season began yesterday, and US Treasury officials warn there could be delays in processing your return. The IRS is dealing with a number of people out sick amid the pandemic, and there’s already a backlog. In an average [...]
Air-Taxi Business Is Growing, and Boeing Hopes to Soar Boeing is investing an additional $450 million into its air-taxi venture Wisk that aims to develop small, pilotless aircraft for short trips in urban settings. Started in 2019 with Google (GOOGL) co-founder Larry Page’s Kitty Hawk Corporation, Wisk is part of [...]
Activist Firm Reportedly Building a Stake Amid Investor Displeasure Shares of Unilever (UL) rose early Monday as word emerged of an attempted takeover. Activist investment firm Trian Partners has built a stake in the London-based corporation that sells cleaning supplies, food, and personal care items. The report follows Unilever’s called-off [...]
Rent the Runway Walked Unbeaten Path Amid Pandemic’s Challenges As the pandemic hit in the early part of 2020, Rent the Runway (RENT) executives had to confront the cancellation of thousands of events from major galas to weddings and even high school proms. The business’ bread and butter disappeared overnight. [...]
The Tech Narrative Is Changing in Europe Market watchers say Europe’s tech scene is starting to break out while attracting a significant amount of new fundraising. CB Insights reports European tech firms attracted $93.3 billion of investment capital last year, breaking a record and representing a year-over-year increase of 142%. [...]
