Connect with us

Business

Canada announces new military package for Ukraine after Russian missile attacks By Reuters

Published

on


© Reuters. Canadian Defense Minister Anita Anand and Canadian Prime Minister Justin Trudeau attend a press conference on the federal government’s response to Hurricane Fiona in Ottawa, Canada on September 26, 2022. REUTERS/Blair Gable/F.

By Kanishka Singh

(Reuters) – Canada said on Wednesday it will provide more than C$47 million ($34.06 million) in new military aid to help Ukraine deal with the Russian invasion, including artillery shells, satellite communications, winter clothing, drone cameras and more. help.

Canadian Defense Minister Anita Anand announced the package, which draws on about C$600 million in military equipment that Canada has donated or committed since Russia began its invasion on February 24.

Advertisement

More than 50 Western countries gathered on Wednesday to promise Ukraine more weapons, especially air defenses, after Russia launched its heaviest missile strikes since the war began.

Russian attacks with more than 100 missiles have killed at least 26 people across Ukraine since Monday, when President Vladimir Putin ordered what he called retaliatory strikes against Ukraine over an explosion on a bridge.

Anand said in a statement that Canada’s latest package includes C$15.2 million worth of equipment from the Canadian Armed Forces’ inventory, including 155mm NATO artillery shells, fuses and charging bags compatible with the M777 howitzer.

It also includes 400,000 pieces of winter clothing for a total of C$15 million, and additional drone cameras worth C$15.3 million.

Canada said on Tuesday it would send an additional 40 combat engineers to help support Polish efforts to train Ukrainian forces.

Advertisement

Russian President Vladimir Putin has described Moscow’s actions as a “special military operation” to ensure Russian security and protect Russian speakers in Ukraine.

Ukraine and its allies accuse Moscow of waging a war to seize territory or even occupy a pro-Western neighbour.

(1 dollar = 1.3801 Canadian dollars)

Source link

Advertisement
Continue Reading
Advertisement
Click to comment

Leave a Reply

Your email address will not be published.

Business

MicroStrategy is at its lowest level since 2020 after the sales were revealed

Published

on

By

(Bloomberg) — Shares of MicroStrategy touched their lowest level since August 2020 after the enterprise software company, which in recent years has been known as the largest buyer of bitcoin, revealed its first sale of the token.

Most Read from Bloomberg

The stock fell 1.1 percent to $136.63 on Thursday, down 75 percent this year. Bitcoin rose less than 1% to around $16,590 and is believed to have fallen 64% since the start of the year.

Advertisement

In a filing on Wednesday, MicroStrategy said it acquired approximately 2,395 Bitcoin between the beginning of November and December 21 through its subsidiary MacroStrategy, and paid out approximately $42.8 million in cash. It then sold 704 of the tokens on Dec. 22 for a total of about $11.8 million, citing tax purposes, before buying another 810 of them two days later.

Matt Malley, chief market strategist for Miller Tabak + Co. Step down as CEO. This news means they don’t seem to want to do that anytime soon.”

Overall, MicroStrategy held about 132,500 bitcoins worth over $4 billion USD as of December 27th. The company paid an average purchase price of $30,397 per bitcoin.

“Given MicroStrategy’s $2.4 billion in leverage, we believe the company may have a lot of leverage over Bitcoin, and may face some liquidity risk,” Jefferies analyst Brent Thiel wrote in a note on Wednesday. Thill has an “underperform” rating on the stock and a price target of $110.

Over the years of the pandemic, MicroStrategy has become well known for its Bitcoin takeovers, largely led by Saylor. Earlier this year, Saylor stepped down from that role and now serves as CEO at the company and continues to lead its bitcoin strategy.

Advertisement

MicroStrategy was trading around $120 before Saylor first announced the company’s Bitcoin purchases in 2020. The stock reached an all-time high of $1,315 in February 2021.

(Updates to include the stock’s closing price in the second paragraph.)

Most Read by Bloomberg Businessweek

© Bloomberg LP 2022

Advertisement

Source link

Continue Reading

Business

Bankman-Fried May File Petition in New York Federal Court Next Week Before Judge Louis Kaplan By Cointelegraph

Published

on

By



Former FTX CEO Sam Bankman-Fried is set to appear in court on the afternoon of January 3 to enter a lawsuit over two counts of wire fraud and six counts of conspiracy against him related to the collapse of cryptocurrency exchange FTX, according to Reuters. mentioned on December 28, citing court records. Bankman-Fried will appear before District Judge Lewis Kaplan in Manhattan.

Judge Kaplan was appointed to hear the case on December 27 after the original judge in the case, Ronnie Abrams, Resigned herself because of connections between FTX and the law firm Davis Polk & Wardwell, where her husband is a partner. The company provided advisory services to FTX in 2021.