Australian crypto exchange Swyftx to layoff 21% of its staff
Mon, Aug 22, 2022 2:38 PM

Australian crypto exchange Swyftx to layoff 21% of its staff

Australian crypto exchange Swyftx has decided to lay off 21% of its staff as the company plans to reduce its business size. The exchange emphasised inflation, a recession, and the bear market as the reasons behind the unfortunate lay-offs. Co-Cheifs explained the company would have to let go of 74 employees due to the current economic climate.

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Vodafone has agreed to sell its Hungary business for EUR 1.8 billion
Mon, Aug 22, 2022 2:37 PM

Vodafone has agreed to sell its Hungary business for EUR 1.8 billion

British telecom behemoth, Vodafone, has agreed to sell its Hungary business to 4iG and country-owned holding company Corvinus Zrt for EUR 1.8 billion. The London giants also said in a statement that the planned sale would make Hungary's second-largest fixed-line and mobile telecoms operator. The sale is anticipated to close by the end of 2022 as per Vodafone.

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This Adani stock has spiked 300% this year
Mon, Aug 22, 2022 2:30 PM

This Adani stock has spiked 300% this year

Adani group stocks have given stellar returns to its shareholders in year-to-date (YTD) time despite the volatility of the markets. Adani Power is one of such stocks. The company's share price has spiked from around ₹101 to ₹425 apiece levels, delivering more than 300 percent return to its positional investors.

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Australia’s new government outlines approach to crypto regulation
Mon, Aug 22, 2022 2:23 PM

Australia’s new government outlines approach to crypto regulation

Australia is set to become the first country to conduct the process of cryptocurrency mapping, according to Prime Minister Anthony Albanese.The country is beginning a review of cryptocurrency assets in the country to help better understand and regulate the industry. The token mapping exercise will examine the type of crypto asset, their underlying code and any other defining technological feature.

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Average BTC transaction fee drops under $1; 1st time in more than 2 years
Mon, Aug 22, 2022 2:16 PM

Average BTC transaction fee drops under $1; 1st time in more than 2 years

For the first time in more than two years, the average transaction cost on the Bitcoin (BTC) blockchain dropped below $1.00. The average Bitcoin transaction cost was $0.825 as of Monday, last seen on June 13, 2020. There are many reasons for this decrease in transaction fees, including declining market prices and lower mining difficulty.

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Russian rouble has waned from near 4-week high vs dollar
Mon, Aug 22, 2022 2:15 PM

Russian rouble has waned from near 4-week high vs dollar

The Russian rouble lost its luster and fell from last week's near four-week high against the dollar on Monday but held near its strongest levels this month. The rouble was 1.4% weaker against the dollar at 59.93, declining sharply from Friday's 57.70 high, at 0735 GMT. It had lost 0.4% of its value and was at 59.85 against the euro.

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Tamara has raised $100 million
Mon, Aug 22, 2022 1:58 PM

Tamara has raised $100 million

Tamara, a Gulf buy now, pay later (BNPL) firm revealed on Monday that it had raised a whopping $100 million in a second round of fundraising. Investors including Sanabil Investments, owned by Saudi Arabia's sovereign wealth fund PIF took part in this round. The series 'B' funding would allow the Saudi-based startup to expand into new markets and introduce new services and products.

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Lohia Securities' EBITDA stands at Rs. 19.95 crore in June 2022
Mon, Aug 22, 2022 1:50 PM

Lohia Securities' EBITDA stands at Rs. 19.95 crore in June 2022

Lohia Securities rolled out its standalone quarterly numbers. The Net Sales of the company stood at Rs 64.96 crore in June 2022, up 4.22% from Rs. 62.33 crore in June 2021. Its Quarterly Net Profit was Rs. 14.18 crore in June 2022, up 136.89% from Rs. 5.99 crore in June 2021 and its EBITDA stood at Rs. 19.95 crore in June 2022, up 197.32% from Rs. 6.71 crore in June 2021.

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DoorDash intends to end its delivery partnership with Walmart
Mon, Aug 22, 2022 1:30 PM

DoorDash intends to end its delivery partnership with Walmart

Online delivery platform DoorDash, after more than four years of delivering groceries and other items from the retail chain to clients, has decided to end its partnership with Walmart. . Early this month, DoorDash told Walmart about its decision. The delivery company claimed that the arrangement was no longer advantageous to both parties.

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Tencent fires 5500 employees after posting first y-o-y decline in revenue
Mon, Aug 22, 2022 1:09 PM

Tencent fires 5500 employees after posting first y-o-y decline in revenue

Chinese corporation Tencent has let go of 5,500 workers. The corporation made this decision after reporting $19.8 billion in revenue for the June quarter, indicating a 3% decrease. This is the company's first drop in sales since going public. As per the South China Morning Post, the country's biggest video game and social media company laid off its employees due to the weakening economy.

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ETH is currently trading at$1,584, down by 17.12% in the last week
Mon, Aug 22, 2022 1:01 PM

ETH is currently trading at$1,584, down by 17.12% in the last week

Ethereum currently trades at $1,584. In the last 24 hours, the coin has moved 0.99% to the upside and decreased by 17.12% in the last 7 days. The second-largest cryptocurrency by market cap is in green like the rest of the market. The 24-hour trading volume stands at 15.7 Billion, which is a 5.56% decrease in the last 24 hours.

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ICICI Prudential Mutual Fund to roll out PSU equity fund
Mon, Aug 22, 2022 12:56 PM

ICICI Prudential Mutual Fund to roll out PSU equity fund

ICICI Prudential MF is slated to roll out a PSU equity fund on Tuesday. It is an open-ended equity scheme that will primarily invest in equity and equity-related instruments of public sector units. Chintan Haria, ICICI Prudential AMC said “In a volatile environment, companies providing high dividend yield tend to have higher demand resulting in capital appreciation."

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SBF reveals that FTX revenue grew 1,000% in 2021 amid booming crypto market
Mon, Aug 22, 2022 12:55 PM

SBF reveals that FTX revenue grew 1,000% in 2021 amid booming crypto market

Sam Bankman-Fried, the chief executive officer of FTX, has revealed that FTX's revenue increased by 1,000% in 2021 as a result of a flourishing crypto market and a number of acquisitions. According to CNBC, privately held FTX's revenues increased from US$89M in 2020 to US$1.02B in 2021. Additionally, FTX saw an increase in operating income last year, going from US$14M in 2022 to US$272M in 2021.

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PharmEasy delays its IPO until next year
Mon, Aug 22, 2022 12:47 PM

PharmEasy delays its IPO until next year

PharmEasy has announced that it has withdrawn its preliminary papers and has delayed its IPO until next year. Till the company floats its IPO, it will concentrate on reducing cash burn and has set the objective of achieving Ebitda breakeven in a year. The company is also establishing a private equity financing round through a rights issue.

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Death claims fall by 20; LIC shares dropped
Mon, Aug 22, 2022 12:43 PM

Death claims fall by 20; LIC shares dropped

Shares of LIC dropped more than 1% on Monday as the insurance giant reported a fall in death claims of about 20% in the first quarter of this FY. Even though the impact of Covid appears to be waning, the total is still greater than pre-2020 levels. Settlement of death claims totalled Rs 7,111 crore in the June quarter of the previous fiscal year; this year's Q1 figure was Rs 5,743 crore.

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