Markets

FTX’s implosion in November was one of the largest corporate failures in history. The crypto exchange’s descent into bankruptcy wiped out $32 billion in enterprise value. Here’s how FTX stacks up against other spectacular collapses – including Lehman Brothers and Enron. Loading Something is loading. Thanks for signing up! Access your favorite topics in a personalized… Continue reading Here’s how the collapse of Sam Bankman-Fried’s FTX empire stacks up against other corporate failures like Lehman Brothers and Enron

The Chinese government is buying shares in Alibaba, Tencent and other tech companies, according to the Financial Times.  The stakes usually involve a 1% holding and are known as “special management shares.”  This gives China’s Communist Party special rights over certain business decisions, the report said. Loading Something is loading. Thanks for signing up! Access… Continue reading China’s government is buying Alibaba and Tencent shares that give the Communist Party special rights over certain business decisions, report says

Jennifer Sor Goldman Sach’s gives its list of high Sharpe ratio stocks. Andrew Kelly/Reuters US stocks rose on Friday and finished off their best week since November. All three indexes gained despite warnings from major banks of tough times ahead. JPMorgan, Citigroup, and Bank of America have forecast a mild recession to hit the economy… Continue reading US stocks rise to finish best week since November as major banks warn of tough times ahead

Wharton professor Jeremy Siegel believes the stock market is on the cusp of a new bull market.Siegel thinks most of Wall Street is too bearish on stocks as they expect a big sell-off in the first half of 2023.”When everyone is on one side, they’re usually wrong,” Siegel told CNBC on Friday. Loading Something is… Continue reading Wharton professor Jeremy Siegel says stocks are on the cusp of a new bull market

Alameda liquidators lost $72,000 worth of crypto while trying to recover funds, per a report from Arkham Intelligence. These assets will no longer be recoverable for creditors.  The restructuring team has retrieved $5 billion worth of liquid assets so far, attorneys said on Wednesday. Loading Something is loading. Thanks for signing up! Access your favorite topics… Continue reading Alameda liquidators just lost $72,000 on a DeFi lending platform while trying to recover funds for creditors, analytics firm says

Tesla’s price cuts will cause earnings to dive 25% this year, according to Loup’s Gene Munster. But the move could be favorable with consumers and heal brand issues stemming from Elon Musk. “It’s a win for consumers and Tesla’s brand. Tesla is going to gain market share near term,” Munster said. Loading Something is loading.… Continue reading Tesla’s price cuts will cause earnings to plunge 25%, but the EV maker is repairing its brand for long-term gain, Loup’s Gene Munster says

China’s trade with Russia hit a record $190 billion in 2022, a sign Moscow is deepening its partnership with Beijing. Trade with Russia made up 3% of China’s total trade volume last year, per a Reuters report. China has snapped up Russian fossil fuels since the invasion of Ukraine while the West shuns Russia as… Continue reading China’s trade with Russia hit a record $190 billion in 2022 as Moscow deepens partnership with Beijing amid withering western sanctions

Carla Mozée Food inflation still lurks with prices for eggs, meat and poultry up in December. Justin Sullivan/Getty Images US stocks rose Thursday after a choppy session focused on the December inflation report.  Monthly headline inflation fell 0.1% but the core index excluding volatile energy and food prices rose 0.3%.  Investors priced in bullish expectations… Continue reading US stocks rise in choppy session as investors see smaller rate hikes after cooler December inflation