Killing Kittens: UK government takes stake in sex party company

A government loan provided to Killing Kittens to help it through the pandemic has converted into an equity stake in the company, the British Business Bank confirmed on Tuesday. Killing Kittens, which organizes women-led adult parties in cities including London and New York, secured the investment in 2020 from the UK government’s Future Fund, which … Read more

Credit Suisse to overhaul its risk management after Archegos and other scandals

A sign above the entrance to the Credit Suisse Group AG headquarters in Zurich, Switzerland, on Monday, Nov. 1, 2021. Thi My Lien Nguyen | Bloomberg | Getty Images Credit Suisse has vowed to forge ahead with its risk management and compliance overhaul in light of a string of scandals, despite what its CEO called … Read more

U.S. may lose silicon wafer factory if CHIPS Act isn’t funded

US Commerce Secretary Gina Raimondo told CNBC’s Jim Cramer on Monday that she believes GlobalWafers will follow through on its plan to build a silicon wafer factory in Texas — but only if Congress passes funding for the CHIPS for America Act by the time the August recess begins. “This investment that they’re making is … Read more

The West wants to go further on Russian oil. Inflation makes that difficult

Russia is making just as much money from energy exports as it was before it invaded in late February. Meanwhile, inflation is surging globally, adding to political pressure on leaders such as US President Joe Biden, British Prime Minister Boris Johnson and French President Emmanuel Macron. The leaders from top economies gather in Germany on … Read more

Nike (NKE) earnings Q4 2022 earnings

Nike Air Jordan shoes are seen in the store in Krakow, Poland on August 26, 2021. Jakub Porzycki | Nurphoto | Getty Images Nike on Monday topped Wall Street’s earnings and sales expectations for the fiscal fourth-quarter, as the sneaker giant overcame a Covid lockdown in China and tougher climate for consumers in the US … Read more

All the recession warnings this week

A tepid stock market, soaring inflation, and rising interest rates have left Americans less than optimistic about the state of the economy. Consumer sentiment has plunged to a record low, according to a University of Michigan survey released last week, fueled by frustration over high prices. To be clear: we are not in a recession, … Read more

Leonardo Del Vecchio: Italian billionaire and Ray-Ban owner dies

“EssilorLuxottica sadly announces today that its chairman has passed away,” the group said in a statement, adding that the board would meet to “determine the next steps.” Del Vecchio rose from a childhood in an orphanage to amass a fortune of tens of billions of euros in one of the most famous rags-to-riches stories in … Read more

Hackers can now bring cargo ships and planes to a grinding halt

Container cargo ships sit off shore from the Long Beach/Los Angeles port complex in Long Beach, CA, on Wednesday, October 6, 2021. Jeff Gritchen | MediaNews Group | Getty Images Armed with little more than a computer, hackers are increasingly setting their sights on some of the biggest things that humans can build. Vast container … Read more

China’s new aircraft carrier: Never mind the Fujian, these are the ships the US should worry about

Seoul, South Korea CNN — China made a big statement about its naval ambitions with the recent launch of its third and most advanced aircraft carrier. The Fujian – by far China’s biggest, most modern and most powerful aircraft carrier to date – is the 80,000-ton jewel in the crown of a military expansion that … Read more

Stock futures fall following a major comeback week for stocks

Traders on the floor of the NYSE, June 15, 2022. Source: NYSE US stock futures fell on Sunday night following a major rebound last week from this year’s steep declines. Despite the bounce, Wall Street is preparing to wrap up the worst first half for stocks in decades. Dow Jones Industrial Average futures fell 75 … Read more