Reuters reports that India has given Russian ships new safety certifications as Western companies withdraw their services amid sanctions. The move covers dozens of ships managed by the Dubai arm of Russian group Sovcomflot. India has snapped up massive volumes of cheap Russian crude since the war in Ukraine began. Loading Something is loading. India… Continue reading Russian oil cargoes get new safety certifications from India to keep crude flowing as Western sanctions squeeze Moscow
Russia and China are brewing up a challenge to dollar dominance by creating a new reserve currency
Russia and China are developing a new reserve currency with other BRICS countries, President Vladimir Putin said. The basket currency would rival a US-dominated IMF alternative and let Russia widen its influence, an analyst said. The dollar’s dominance is already eroding as central banks diversify into the Chinese yuan and smaller currencies. Loading Something is… Continue reading Russia and China are brewing up a challenge to dollar dominance by creating a new reserve currency
Warren Buffett’s Berkshire Hathaway plows another $529 million into Occidental Petroleum, boosting its bet on the energy stock to $8.5 billion
Warren Buffett’s Berkshire Hathaway spent another $529 million on Occidental Petroleum stock. Berkshire now commands a roughly 16% stake worth about $8.5 billion. Occidental shares have skyrocketed this year, partly in response to surging energy prices. Loading Something is loading. Warren Buffett’s Berkshire Hathaway capitalized on the recent slump in Occidental Petroleum shares, spending $529… Continue reading Warren Buffett’s Berkshire Hathaway plows another $529 million into Occidental Petroleum, boosting its bet on the energy stock to $8.5 billion
US stock futures tick higher even as Powell’s comments keep recession fears alive, while oil extends its losses
US stock futures were coming back Thursday from losses after Fed Chair Jerome Powell said a US recession is a possibility. Meanwhile, oil prices retreated on worries that an economic downturn will drag on fuel demand. In Asia, stocks traded positive after President Xi said China will use “forceful” measures to hit economic targets. Loading… Continue reading US stock futures tick higher even as Powell’s comments keep recession fears alive, while oil extends its losses
Investors are still underestimating the Fed’s willingness to trigger a recession and a ‘market meltdown’, a veteran SocGen strategist says
The Federal Reserve now prioritizes curbing inflation over preventing recession, according to Société Générale’s chief market strategist. Aggressive interest rate hikes will trigger a “market meltdown”, Albert Edwards said. Edwards expects both stocks and commodities to plummet as recession fears rise. Loading Something is loading. Markets haven’t yet fully priced in the threat of a… Continue reading Investors are still underestimating the Fed’s willingness to trigger a recession and a ‘market meltdown’, a veteran SocGen strategist says
Doodles NFTs hit $500 million in sales and could still weather recession, says CEO who has teamed up with Pharrell Williams and Reddit’s Alexis Ohanian to create a Web3 media giant
In an exclusive interview with Insider, the CEO of Doodles broke down why its NFTs could hold value through a recession. Doodles has cleared over $500 million in sales volume, hired Pharrell Williams as an exec, and received funding from a VC firm led by Reddit’s co-founder. “We’ve communicated from the very beginning…that our purpose… Continue reading Doodles NFTs hit $500 million in sales and could still weather recession, says CEO who has teamed up with Pharrell Williams and Reddit’s Alexis Ohanian to create a Web3 media giant
Value investor Seth Klarman explains how he finds bargains, prepares for a bear market, and limits his losses in a new interview. Here are the 12 best quotes.
Seth Klarman discussed the key principles and strategies that power his investing approach. The Baupost Group boss searches far and wide for winning assets, and always limits his losses. Klarman underscored the challenges of a bear market, and argued investing has become harder. Loading Something is loading. Seth Klarman delved into his investing philosophy, outlined… Continue reading Value investor Seth Klarman explains how he finds bargains, prepares for a bear market, and limits his losses in a new interview. Here are the 12 best quotes.
CHESAPEAKE ENERGY CORPORATION DOUBLES ITS AUTHORIZATION FOR COMMON STOCK AND WARRANT REPURCHASE FROM $1 BILLION TO $2 BILLION
, /PRNewswire/ — Chesapeake Energy Corporation (NASDAQ: CHK) today announced that its Board of Directors has doubled its previously announced repurchase program authorization from $1 billion to up to $2 billion in aggregate value of its common stock and/or warrants through year-end 2023. To date, under its previously authorized program, Chesapeake has repurchased approximately 5.4… Continue reading CHESAPEAKE ENERGY CORPORATION DOUBLES ITS AUTHORIZATION FOR COMMON STOCK AND WARRANT REPURCHASE FROM $1 BILLION TO $2 BILLION
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