European Economics News Preview: UK Public Sector Finance Data Due

Public sector finances from the UK and consumer sentiment survey results from Germany are the top economic news due on Wednesday.

At 2.00 am ET, the Office for National Statistics releases UK public sector finances data for November. Excluding banks, the budget deficit is seen falling to GBP 13 billion from GBP 13.5 billion in October.

In the meantime, the market research group GfK publishes consumer sentiment survey results. The forward-looking consumer sentiment index is forecast to fall to -38 in January from -40.2 in December.

At 3.00 am ET, the National Institute of Economic Research is slated to issue Sweden economic tendency survey results.

At 4.00 am ET, retail sales figures are due from Poland. Sales are forecast to grow 0.3 percent annually in November, slower than the 0.7 percent rise in October.

At 6.00 am ET, the Confederation of British Industry publishes Distributive Trades survey results. The retail sales balance is forecast to fall to -23 percent in December from -19 percent in November.

Twitter Asks Court To Dismiss Case Regarding Mass Layoffs

Twitter Inc. (TWTR) has asked a California federal court to dismiss a lawsuit filed by more than 100 former employees over the “mass layoffs” the new CEO Elon Musk brought into force after he took over the social media giant.

The company’s lawyers argued that the employees bringing the potential class-action suit don’t have enough in common for the case to be classified as a class action. The attorneys also argued in the December 23 court filing that the complaints made are “vague, imprecise” allegations.

“Plaintiffs do not even attempt to define a class, making only passing reference to ‘thousands of other Twitter employees,’ or ‘other similarly situated Twitter employees,'” an attorney for Twitter told the court.

The group bringing the suit includes employees who have already been laid off and others who won’t be terminated until January or February. Twitter’s lawyers want the case thrown out or moved to a Delaware court, which is handling disputes relating to Musk’s $44 billion takeover of the platform.

Shannon Liss-Riordan, a lawyer representing employees, said she remains “confident in our claims”. She said, “We call on Elon Musk to show some holiday spirit and honor the law and promises made to Twitter employees. If not, we are ready to take him on in 2023.”

Greeley Police search for armed suspect around U.S. 34 bypass near Promontory Parkway

The Greeley Police department is asking the public to stay away from the area of U.S. 34 bypass near Promontory Parkway while officers search for an armed suspect.

Both lanes of the highway are closed near Promontory Parkway, police said at 2:50 p.m. The area is near Greeley Fire Station No. 6. Tenth Street is operating normally, police said.

Anyone who lives near the area is asked to stay inside and lock their doors, police said.

This is a developing story and will be updated. 

One person injured in Denver shooting near Broncos stadium

Denver police are investigating a shooting Tuesday evening in the 1600 block of N. Grove St. near Empower Field at Mile High.

One victim was found, but police did not know the extent of their injuries, according to a 7:40 p.m. tweet.

Police did not immediately release information about the victim or any potential suspects.

Pre-market Movers: ATNF, ADCT, SLS, CSSE, LANV…

The following are some of the stocks making big moves in Wednesday’s pre-market trading (as of 06.25 A.M. ET).

In the Green

180 Life Sciences Corp. (ATNF) is up over 33% at $2.97
ADC Therapeutics SA (ADCT) is up over 29% at $4.13
SELLAS Life Sciences Group, Inc. (SLS) is up over 18% at $2.69
Chicken Soup for the Soul Entertainment, Inc. (CSSE) is up over 16% at $6.16
NIKE, Inc. (NKE) is up over 12% at $116.21
Caravelle International Group (CACO) is up over 11% at $2.36
Indonesia Energy Corporation Limited (INDO) is up over 7% at $5.39
Mitsubishi UFJ Financial Group, Inc. (MUFG) is up over 6% at $6.68

In the Red

Lanvin Group Holdings Limited (LANV) is down over 16% at $6.10
FiscalNote Holdings, Inc. (NOTE) is down over 9% at $5.70
Getty Images Holdings, Inc. (GETY) is down over 7% at $4.65

Galaxy Digital To Buy Helios Bitcoin Mining Site From Argo Blockchain For Around $65 Mln

Galaxy Digital Holdings Ltd. (BRPHF), dealing in digital assets including crypto-currency, agreed to buy Helios bitcoin mining facility, from cryptocurrency miner Argo Blockchain Plc (ARBK), for around $65 million.

In connection with the deal, Galaxy has agreed to provide Argo with a new senior-secured loan valued at $35 million, obtained by a collateral package that includes Argo mining equipment.

In addition, Argo will also enter into a two-year hosting agreement with Galaxy.

Upon the completion of the deal, which is expected to be on December 28, Galaxy will also begin offering hosting services for third-party bitcoin miners at Helios, creating a new revenue stream for it.

Helios is located on area of 160-acre in Dickens County of Texas with a capacity to operate up to 180 megawatts of mining.

Mirada Plc Posts Narrower Loss In H1; Revenue From Activities Down 12.3%

Mirada plc (MIRA.L) posted a loss before tax of $1.03 million for the six months ended 30 September 2022 compared to a loss of $1.22 million, prior year. Basic loss per share was $0.129 compared to a loss of $0.142.

EBITDA profit decreased 22% to $0.88 million. Basic adjusted EBITDA per share was $0.098 compared to $0.126.

Revenue from activities was $5.26 million for the six months to 30 September 2022 compared to $5.99 million, last year. The company said this decrease is mainly a result of a reduced revenue recognition of professional services during the period related to timings on the deployments at customers, with most of them happening during the second half of the year.

For more earnings news, earnings calendar, and earnings for stocks, visit rttnews.com.