Markets

Zahra Tayeb The dollar’s dominance of global trade and reserves is facing several new threats. Getty Images The dollar’s supremacy in global trade faces fresh challenges as several countries float plans to use local currencies in commerce.  Russia and Iran are working to create a gold-backed stablecoin, while China is increasingly using the yuan in… Continue reading Russia and Iran plan a gold-backed stablecoin, while Brazil and Argentina seek a shared currency. Here are 5 rising threats to the dollar’s dominance of global trade.

The European Union’s upcoming ban on Russian oil products could spell more turmoil for the Kremlin.  China and India are unlikely to buy refined Russian fuels that were once sold to the EU, which will ban them on February 5. That’s in contrast to Russian crude oil, which were snapped up by China and India… Continue reading Russia faces new sanctions on its energy exports – but this time China and India may not come to Putin’s rescue

Stocks are off to a strong start in 2023 after last year’s selloff, with cooling inflation a pillar of support.  But there’s stickiness in services inflation, and that poses downside risks for equities, analysts said.  Wage growth has eased but an even slower pace would suit the Fed’s inflation-fighting goal.  Loading Something is loading. Thanks… Continue reading Inflation has cooled, but investors risk being caught off guard by a ‘head fake’ that could kill the latest stock-market rally

Warren Buffett spent $6.5 billion to help Mars acquire Wrigley during the financial crisis. The investor bought $2.1 billion of Wrigley’s preferred stock, and $4.4 billion of its bonds. The candy deal was “completed without pause while, elsewhere, panic reigned,” Buffett said. Loading Something is loading. Thanks for signing up! Access your favorite topics in… Continue reading Warren Buffett shelled out $6.5 billion to help Mars buy Wrigley during the financial crisis. Here’s how he made the candy deal happen.

The Adani Group on Thursday issued an 18-page presentation titled “Myths of Short Seller.” It aimed to address some of Hindenburg’s allegations of market manipulation and accounting fraud. Shares of listed Adani Group companies are extending steep declines on Friday, following the report. Loading Something is loading. Thanks for signing up! Access your favorite topics… Continue reading Asia’s richest person doubles down on defence against fraud allegations ahead of a massive share sale

Jennifer Sor Reuters / Brendan McDermid US stocks jumped Thursday as investors cheered strong GDP data and Tesla earnings.  GDP grew 2.9% over the fourth quarter, above estimates of 2.8%. Tesla rallied almost 11% after posting record results after the bell on Wednesday.  Loading Something is loading. Thanks for signing up! Access your favorite topics… Continue reading US stocks jump as investors cheer upbeat GDP data and strong Tesla earnings

Bed Bath & Beyond shares plunged Thursday after a fresh warning about its struggling financial condition.  The struggling housewares retailer said it lacked funds to pay down debt, and JPMorgan said it was in loan default.  Bed Bath & Beyond has already said it may have to file for bankruptcy.  Loading Something is loading. Thanks for… Continue reading Bed Bath & Beyond sinks 35% after the retailer says it lacks funds to pay debts and receives a default notice from JPMorgan

Elon Musk reiterated his belief that Tesla will be “the most valuable company on earth.”The comments came during the electric vehicle maker’s fourth-quarter earnings call.Tesla stock is down 59% from its 52-week high, but has rallied nearly 30% year-to-date. Loading Something is loading. Thanks for signing up! Access your favorite topics in a personalized feed… Continue reading Elon Musk reiterates his belief that Tesla will ‘be the most valuable company on earth’ amid record quarter for the EV maker