The Federal Reserve raised short-term interest rates by 50 basis points, or 0.5%, when it wrapped up its final policy meeting of the year on Wednesday. The federal funds rate now stands at a targeted range of between 4.25% and 4.5%, or the highest level in 15 years. The half-percentage-point hike in the overnight borrowing… Continue reading Federal Reserve Hikes Interest Rates Again
Billionaire investor Bill Ackman says the Fed’s inflation target isn’t realistic anymore – and could result in a brutal recession
Bill Ackman warned the Fed that slowing inflation to its 2% target is no longer realistic. He raised the prospect of a “deep, job-destroying recession” if the Fed tries to hit its goal. The billionaire investor argued a 3% target would foster greater economic growth and employment. Loading Something is loading. Thanks for signing up!… Continue reading Billionaire investor Bill Ackman says the Fed’s inflation target isn’t realistic anymore – and could result in a brutal recession
A top FTX exec blew the whistle on Sam Bankman-Fried’s moves just 2 days before the crypto exchange’s collapse
An FTX exec told authorities about potential illegality at the crypto exchange 2 days before its bankruptcy. Ryan Salame said customer funds were being used to cover losses at trading firm Alameda, a filing showed. Former FTX CEO Sam Bankman-Fried was arrested by Bahamian authorities Monday to face fraud charges. Loading Something is loading. Thanks… Continue reading A top FTX exec blew the whistle on Sam Bankman-Fried’s moves just 2 days before the crypto exchange’s collapse
Elon Musk just cashed in another $3.6 billion of Tesla stock as he wrestles with mounting interest payments at Twitter and a looming recession
Elon Musk has sold about $3.6 billion of Tesla stock this week, SEC filings show. The Tesla, SpaceX, and Twitter CEO sold around 22 million shares in three days. Musk is dealing with mounting interest payments at Twitter, and a gloomy economic outlook. Loading Something is loading. Thanks for signing up! Access your favorite topics… Continue reading Elon Musk just cashed in another $3.6 billion of Tesla stock as he wrestles with mounting interest payments at Twitter and a looming recession
Russia’s deep oil discounts drove revenue down $700 million last month even as its exports jumped, the IEA says
Russia’s revenue from oil exports fell by $700 million in November, according to the IEA. Deep discounts and falling crude prices drove down revenue despite a jump in exports, it said. A G7 price cap on Russian crude will slash output and pressure global prices upward next year, the agency added. Loading Something is loading.… Continue reading Russia’s deep oil discounts drove revenue down $700 million last month even as its exports jumped, the IEA says
Short sellers eye more gains after reaping $50 billion from Big Tech in 2022
Tesla leads with almost US$12 billion in paper profits for shorts Author of the article: Bloomberg News Subrat Patnaik Publishing date: Dec 13, 2022 • 22 hours ago • 3 minute read Join the conversation Brand new Tesla cars sit in a parking lot at the Tesla Inc. factory in Fremont, California. Photo by Justin Sullivan/Getty… Continue reading Short sellers eye more gains after reaping $50 billion from Big Tech in 2022
Tesla stock has never been this cheap — and it could still drop further
Electric-car maker’s stock slumped more than 50% this year Author of the article: Bloomberg News Subrat Patnaik Publishing date: Dec 13, 2022 • 23 hours ago • 2 minute read Join the conversation Tesla is now trading at 30 times projected earnings, its lowest ever. Photo by Tyrone Siu/Reuters files Tesla Inc. shares are trading at… Continue reading Tesla stock has never been this cheap — and it could still drop further
Stocks are storming out of the gate on the U.S. inflation surprise
‘This is a big deal for macro markets’ Stocks soared Tuesday morning after U.S. data revealed inflation was lower than expected. Photo by REUTERS/Chip East U.S. stocks soared and yields on Treasuries tumbled across the curve after data showed prices rose less than forecast last month, cementing optimism the Federal Reserve will slow the pace… Continue reading Stocks are storming out of the gate on the U.S. inflation surprise
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