14th May 2022
Crypto's invert - Buy high, sell low.
[M&A] Emirates Telecommunications Group has acquired a 9.8 per cent stake in Vodafone for around $4.4bn as it kick-starts its latest expansion into international markets. The Abu Dhabi-listed group said it planned to be a long-term shareholder in Vodafone and was supportive of Vodafone’s board. According to Bloomberg, citing its own data, e& is now Vodafone’s largest shareholder, ahead of BlackRock, the Vanguard Group and HSBC.
[Travel] US airlines are poised to raise ticket prices further as Americans shrug off the fastest rise in domestic airfares for decades in their determination to travel. Airfares rose by 18.6 per cent in April from the previous month, the largest one-month increase in the history of the Consumer Price Index, according to the US Bureau of Labor Statistics.
[Commodities] India has banned exports of wheat, in a move that is likely to push food prices higher and fuel hunger in poor countries that depend on imports of the commodity. The Indian government said that it was implementing a ban on overseas sales “in order to manage the overall food security of the country and to support the needs of the neighbouring and other vulnerable countries”. Prices of wheat have soared since the invasion of Ukraine, adding to already existing inflation fears. India had been filling the export supply gap in the international wheat markets left by Ukraine after the Russian invasion
[Crypto] The price of Luna dropped by nearly 95% in a span of a few days as the meltdown in crypto markets continued to erode investor’s wealth. The total market cap of Terra dropped below $2.75 billion, making it the 34th largest cryptocurrency. During its golden days, it was the eighth largest crypto token with a market cap of about $25 billion.
Over60: Economic Times
[Crypto] The $1.3tn cryptocurrency industry was on Thursday hit by one of its toughest challenges when stablecoin Tether — a critical cog in the market — failed to maintain its link with the US dollar. Tether tumbled as low as 95.11 cents in European trading, far below the $1 peg that it seeks to maintain as it faced an intense bout of selling pressure. Stablecoins, which are supposed to track real-world currencies, play a central role in the stability of the broader crypto market by providing traders with a safe place to park their cash between making bets on volatile digital coins.
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