Tag: Markets

FTX Gets Court Approval to Subpoena Founder Bankman-Fried, Other Insiders

Failed crypto firm FTX received court approval on Wednesday to issue subpoenas to its founder Sam Bankman-Fried and members of his family as part of the company’s investigation into “misappropriated and stolen” funds. FTX, a once-prominent crypto exchange, filed for bankruptcy protection in November amid allegations that Bankman-Fried used FTX customers’ money to prop up…


Mortgage Demand Up as Rates Fall for 5th Consecutive Week

Mortgage demand is recovering as rates continued to fall last week for the fifth consecutive time. The news caused current homeowners and potential homebuyers to immediately react to the changes. The total mortgage application volume, including refinances and loans to purchase a home, jumped 7.4 percent for the week ending Feb. 3, according to the…


First Official Shipment of Australian Coal Arrives in China After 2 Years of Trade Bans

The first official shipment of Australian coal has landed in China as Beijing scrambles to “normalise” relations with the new Labor government. Around 72,000 tonnes of metallurgical coal arrived at Zhanjiang Port on Feb. 8 in the southeast of China, the first in two years after economic sanctions were placed on Australian exports in 2020….


Stocks Fall on Wall Street, Giving Back Some Recent Gains

NEW YORK—Stocks fell on Wall Street Wednesday, giving back some of their recent gains as uncertainty about interest rates and inflation continues to reign. Investors also reviewed another set of mixed earnings reports from big companies. The latest round of financial results and forecasts could help give Wall Street a clearer picture of how inflation…


Closing Prices for Crude Oil, Gold and Other Commodities (Feb. 8)

Benchmark U.S. crude oil for March delivery rose $1.33 to $78.47 a barrel Wednesday. Brent crude for April delivery rose $1.40 to $85.09 a barrel. Wholesale gasoline for March delivery was unchanged at $2.46 a gallon. March heating oil fell 1 cent to $2.89 a gallon. March natural gas fell 18 cents to $2.40 per…


EIA Slashes Natural Gas Price Forecast by 30 Percent Because of Supply Glut

American liquefied natural gas (LNG) prices are expected to tumble by almost a third this year, as milder winter weather is leading to a glut. LNG prices are dropping as supply growth has outpaced demand growth in recent months, according to the U.S. Energy Information Administration (EIA), in its Short Term Energy Outlook (STEO), on Feb. 7. Domestic…


ChatGPT’s Alter-Ego ‘Do Anything Now’ Frees AI From Restrictions—but Accuracy Is a Concern

News Analysis Conservatives, libertarians, and others worry that the new ChatGPT AI chatbot is designed to make people conform to elite liberal opinion–yet creative Internet users have already learned how to trick the system into shedding that bias, though sometimes at the expense of the truth. ‘Do Anything Now,’ or DAN, is an approach for…


‘Do Anything Now’ Frees ChatGPT From Political Straitjacket—but Accuracy Is a Concern

Conservatives, libertarians, and others worry that the new ChatGPT AI chatbot is designed to make people conform to elite liberal opinion–yet creative Internet users have already learned how to trick the system into shedding that bias, though sometimes at the expense of the truth. ‘Do Anything Now,’ or DAN, is an approach for jailbreaking ChatGPT….


Shoppers to Face Fresh Price Hikes as Stores, Suppliers Pass on Costs

LONDON—Shoppers around the world will pay even more for groceries this year than they did in 2022, according to retailers, consumer goods firms, and investors, unless commodity costs decline or the shift to cheaper store-brand products accelerates. Retailers and consumer goods producers have been stuck in tough price negotiations for more than a year now,…


TotalEnergies Net Profits Double to Record $36.2 Billion in 2022

PARIS—French oil major TotalEnergies posted a record net profit of $36.2 billion in 2022, double the previous year, joining in the sector’s bumper earnings thanks to higher oil and gas prices since Russia invaded Ukraine. TotalEnergies’ fourth-quarter adjusted net income was $7.6 billion, including a $4.1 billion impairment related to the deconsolidation of its stake…