Sam Bankman-Fried’s FTX had customers wire money to North Dimension, a mysterious company with a fake electronics retail website, NBC News reported. Money sent to North Dimension would end up funding Alameda Research’s trading activity, the SEC alleged. The North Dimension website has been deactivated, but had misspelled words and claimed to sell laptops and… Continue reading FTX customers sent money to a fake electronics retailer with a website full of misspelled words that was key to funding SBF’s Alameda, report says
Russian oil price cap is hitting the Kremlin’s export revenue and may widen its budget deficit, finance minister says
The cap on Russian oil imposed by the West is hurting Moscow’s export revenue, Finance Minister Anton Siluanov said. The Kremlin’s budget deficit also could grow beyond a planned 2% in 2023, he added. His comments follow news last week that Russia could cut oil output by as much as 7%. Loading Something is loading.… Continue reading Russian oil price cap is hitting the Kremlin’s export revenue and may widen its budget deficit, finance minister says
Tech stocks will jump 20% in 2023 as the sector dodges Fed headwinds and shows signs of resilience after this year’s ‘horror show,’ Wedbush says
The tech sector’s plunge into a bear market in 2022 will be followed by a 20% surge in 2023, Wedbush’s Dan Ives projects. The Fed is in the “7th inning” of rate hikes, and companies preparing to guard margins set up a choppy but upside path for tech shares. The tech-concentrated Nasdaq 100 is staring… Continue reading Tech stocks will jump 20% in 2023 as the sector dodges Fed headwinds and shows signs of resilience after this year’s ‘horror show,’ Wedbush says
Sam Bankman-Fried should cut a plea deal because an acquittal at trial is ‘virtually impossible,’ says former Watergate prosecutor
Sam Bankman-Fried should avoid a trial and cut a deal, according to a former Watergate prosecutor. Nick Akerman told Yahoo Finance that an acquittal at a trial is “virtually impossible.” “If I were his lawyer I would advise him to cut his losses, take a plea, and make the best possible deal he could,” he… Continue reading Sam Bankman-Fried should cut a plea deal because an acquittal at trial is ‘virtually impossible,’ says former Watergate prosecutor
The stock market’s next bull run won’t kick off until these 2 things occur
A new bull market for stocks won’t commence until the Fed stops hiking interest rates, according to DataTrek Research said.Additionally, investors need to have confidence in earnings expectations heading into a potential recession.”It is hard to imagine volatility declining until we get clarity on Fed policy and corporate earnings power,” DataTrek said. Loading Something is… Continue reading The stock market’s next bull run won’t kick off until these 2 things occur
Warren Buffett declared an 89-year-old carpet seller would ‘run rings around’ America’s best CEOs. Here’s the incredible story of Mrs B.
Warren Buffett said an 89-year-old carpet saleswoman would “run rings around” Fortune 500 CEOs. Buffett praised Rose “Mrs. B” Blumkin after buying her business, Nebraska Furniture Mart, in 1983. Mrs B founded NFM with $500 in 1937. It now generates an estimated $1.6 billion in annual sales. Loading Something is loading. Thanks for signing up!… Continue reading Warren Buffett declared an 89-year-old carpet seller would ‘run rings around’ America’s best CEOs. Here’s the incredible story of Mrs B.
From Sam Bankman-Fried’s arrest to bitcoin plunging below $20,000, here are the 9 craziest crypto stories of 2022
George Glover Sam Bankman-Fried was arrested in the Bahamas on fraud charges. Mario Duncanson/Getty Images 2022 was a brutal year for digital assets as worries about stability rocked the crypto world. Bitcoin plunged 64% as interest rate hikes made investors think twice about riskier assets. The high-profile collapses of FTX, Celsius, and Three Arrows Capital… Continue reading From Sam Bankman-Fried’s arrest to bitcoin plunging below $20,000, here are the 9 craziest crypto stories of 2022
Mortgages rates will keep falling but homes won’t become more affordable until these 3 things happen, Moody’s chief economist says
Moody’s chief economist Mark Zandi said Friday that US existing home sales have bottomed out. The combination of high mortgages and expensive homes have kept buyers out of the market, but US incomes also play a role, he said. Meanwhile, mortgage rates have fallen for six consecutive weeks, the longest drop since 2008. Loading Something… Continue reading Mortgages rates will keep falling but homes won’t become more affordable until these 3 things happen, Moody’s chief economist says
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