Author: News Room

A group of filmmakers and community participants is working on a feature film chronicling the rise of Kabosu, the Shiba Inu featured in the famous Doge meme, from an abandoned puppy to a global icon. The Doge documentary, titled “Dogumentary,” is produced by Own the Doge and Web3 art and culture collective PleasrDAO and portrays how a Shiba Inu dog inspired a cryptocurrency with an $11.6 billion market cap, a life philosophy, and a holy pilgrimage to Japan over the past decade. Own the Doge, a Doge-oriented NFT community, and PleasrDAO recently acquired the rights to the original Doge meme image for…

Warren Buffett says geopolitical tensions were “a consideration” in the decision to sell most of Berkshire Hathaway’s shares in global chip giant TSMC, which is based in Taiwan. The 92-year-old “Oracle of Omaha” shed light on the investment call in a Tuesday interview with Japanese news agency Nikkei. He was quoted as sayiing that TSMC was a well-managed company but that Berkshire had “better places” to deploy its capital. In February, Berkshire Hathaway (BRKA) revealed that it had sold 86% of its shares in TSMC, which were purchased for $4.1 billion just months before. The quick sale was considered unusual…

The banking sector turmoil that led to the collapse of several lenders was not a systemic crisis and has now subsided, according to Tim Adams, CEO of the Institute of International Finance.The fall of Silicon Valley Bank in early March — the largest banking failure since the global financial crisis — triggered a wave of market panic that swept through the sector in Europe and the U.S.related investing newsA flight of shareholders and depositors culminated in the downfall of Credit Suisse, with Swiss authorities brokering the emergency rescue of the 167-year-old institution by domestic rival UBS.The smaller Signature Bank was…

By Gabriel Burin (Reuters) – Brazil’s inflation likely stayed high in March on rising gasoline bills, reigniting cost of living problems in the country’s stagnant economy and probably stoking more disagreement over policy, a Reuters poll showed. Consumer prices cooled in the second half of 2022 in reaction to an aggressive tightening campaign by the central bank. But inflation pressures reemerged after President Luiz Inacio Lula da Silva took office at the start of this year. The monthly report on consumer prices scheduled for Tuesday could again push back expectations for policy easing towards the end of this year and…

By Barani Krishnan  Investing.com — U.S. crude stockpiles unexpectedly increased last week, petroleum trade group API said in a report Tuesday, adding to concerns about the energy demand outlook amid fears about a global slowdown.     , the U.S. benchmark, traded at $81.48 a barrel following the report after settling up 2.1% at $85.57 a barrel. increased by 377,000 barrels during the week ended Apr. 7, according to the American Petroleum Institute, or API, confounding expectations for a 1.3-million-barrel decline.  In the prior week to March 31, the API reported a 4.3M-barrel decline. Aside from the absolute inventory in crude,…

© Reuters. Chinese vehicle sales fall flat in March as price war continues By Michael Elkins The China Passenger Car Association (CPCA) released data Monday showing growth in vehicle sales was flat in March compared to a year earlier. According to the CPCA, car sales in March were 1.61 million units. In the first three months, sales had fallen 13.4% to 4.33M units. Sales of new energy vehicles (NEVs), which include pure battery electric cars and plug-in hybrids, rose 21.9% in March and accounted for 34% of the month’s sales, the data showed. BYD (OTC:) led the segment with market…

U.S. Treasury Secretary Janet Yellen on Tuesday said it was important not to overdo the negativism in the outlook for the global economy. “I think that we should be more positive,” Yellen said, during a press conference ahead of meetings with finance ministers and central bank governors at semi-annual IMF-World Bank meetings. “The outlook… Read the full article here

National CineMedia Inc., the nation’s largest movie-theater advertising network, filed for Chapter 11 bankruptcy late Tuesday. Earlier in the day, CineMedia stock NCMI shot more than 50% higher after movie-theater operator AMC Entertainment Holdings Inc. AMC disclosed that it owned a significant chunk of the company. See: National CineMedia… Read the full article here

Traders are growing increasingly confident that U.S. stocks are headed for a selloff. But history shows the opposite is more likely, according to an analysis by one macro strategist. Speculative traders are more bearish than at any time in the last decade, according to the latest release from the Commodity Futures Trading Commmission’s weekly commitment of traders report, which tracks futures-market positioning in a number of currencies, commodities and U.S. equity indexes. Net-short… Read the full article here

Military exercises suggest China is getting ‘ready to launch a war against Taiwan,’ island’s foreign minister tells CNN One day after China simulated “joint precision strikes” on Taiwan during military exercises around the island, Taiwan’s Foreign Minister Joseph Wu condemned Beijing’s actions in an exclusive interview with CNN and warned that “they seem to be trying to get ready to launch a war against Taiwan.” Read the full article here