Argentina raises interest rate 950 basis points to 69.5%
A man walks past Argentina’s central bank on July 4, 2022 in Buenos Aires. Prices rose 7.4% in July, pushing annual inflation to a 20-year high of 71%. Tomas Cuesta | Getty Images News | Getty Images Argentina’s central bank raised its benchmark interest rate by 950 basis points on Thursday as the country struggles to control spiraling inflation that rose to a 20-year high of 71%, according to new data The central bank raised the benchmark “Leliq” rate for the 28-day term to 69.5% from 60%, a rate the bank set just two weeks ago when it raised the…
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China is looking to show its growing military might in the Taiwan drills
After China declared an end to its military exercises around Taiwan on Wednesday, defense experts stepped back to analyze the operation designed to punish Taipei for hosting US House Speaker Nancy Pelosi. Their main conclusion: More than a war rehearsal, the week-long activity was a deterrence operation. “There is a narrative that what they are doing is indicative of a forceful unification of Taiwan or a blockade. But almost every element that the People’s Liberation Army communicated during the operation aligns perfectly with what they call deterrence activity,” said Roderick Lee, director of research at the China Institute of Aerospace…
Read More »Rivian (RIVN) Q2 2022 earnings
Electric vehicle maker Rivian Automotive on Thursday maintained its full-year delivery guidance and reported second-quarter revenue that beat Wall Street expectations. But he cut his full-year financial outlook, saying investors should now expect a wider loss and lower capital spending than he had previously forecast. Here are the key numbers from Rivian’s Q2 report, compared to the average expectations of Wall Street analysts as met by Refinitiv: Income: 364 million dollars against the 337.5 million expected.Adjusted loss per share: $1.62 versus an expected adjusted loss of $1.63 per share. Rivian’s net loss for the quarter was about $1.7 billion. The…
Read More »Relmada Therapeutics provides corporate update and reports second quarter 2022 financial results
CORAL GABLES, Fla., August 11, 2022 /PRNewswire/ — Relmada Therapeutics, Inc. (Nasdaq: RLMD) (“Relmada,” the “Company,” “we,” “us,” “our”), an early-stage biotechnology company treating diseases of the central nervous system (CNS), today provided a corporate update and has announced preliminary, unaudited updated financial results for the three and six months ended June 30, 2022. The company will host a conference call today, Thursday, August 11, at 4:30 PM ET/1:30 PM Pacific Time. Latest corporate aspects The FDA granted Fast Track designation to REL-1017 as monotherapy for the treatment of major depressive disorder (MDD) John Hixona veteran of biopharmaceutical marketing and…
Read More »This is where China’s real estate woes could spill over
China’s real estate sector accounts for more than a quarter of the national GDP, according to Moody’s. Pictured is a residential complex under construction on December 15, 2021 in Guizhou Province. Costfoto | Future Publishing | Getty Images BEIJING – China’s real estate woes could spread to other major sectors if problems persist, with three particular companies most vulnerable, according to ratings agency Fitch. Since last year, investors have been worried that the financial problems of Chinese real estate developers could spread to the rest of the economy. In the past two months, the refusal of many homebuyers to pay…
Read More »Rivian publishes financial results for the second quarter of 2022
IRVINE, Calif.–(BUSINESS THREAD)–Rivian Automotive, Inc. (NASDAQ: RIVN) today released a letter to its shareholders containing the company’s second quarter 2022 financial results. The letter is available on its investor relations website (https://rivian.com/investors). Rivian will host an audio webcast to discuss its results and provide a trading update at 2:00 PM PT / 5:00 PM ET today, August 11. Live streaming will be available on and a replay will be available for four weeks a https://rivian.com/investors. About Rivian: Rivian exists to create products and services that help our planet transition to carbon-neutral energy and transportation. Rivian designs, develops and manufactures category-defining…
Read More »US Senator Warren criticizes Fed for withholding trade records | News from the financial markets
US Senator Elizabeth Warren blasted Federal Reserve Chairman Jerome Powell for withholding trading information from central bank officials during the pandemic and said an investigation into the matter by the inspector Fed general was “worrying”. The IG report “raises new concerns about why you continue to withhold key information about the financial trading activity of Fed officials from Congress and the public,” the Massachusetts Democrat said in a letter to Powell published on Thursday. Warren, a member of the Senate Banking Committee that has oversight authority over the Fed, also sent letters to all 12 reserve banks requesting records of…
Read More »ElectraMeccanica publishes financial results for the second quarter of 2022
VANCOUVER, British Columbia–(BUSINESS THREAD)–ElectraMeccanica Vehicles Corp. (NASDAQ: SOLO) (“ElectraMeccanica” or the “Company”), a designer and manufacturer of electric vehicles revolutionizing the urban driving experience, today reported financial results for the second quarter ended June 30, 2022 in a combined with the presentation of its Quarterly Report in form 6-K. For more information about the quarter, see the Letter from the company’s investoror listen the recorded observations of management about the results. About ElectraMeccanica Vehicles Corp. ElectraMeccanica Vehicles Corp. (NASDAQ: SOLO) is a Canadian designer and manufacturer of environmentally efficient electric vehicles (EVs). The company’s flagship vehicle is the innovative, purpose-built…
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