NEW YORK—Stocks on Wall Street finished higher Tuesday after a report showed inflation cooled more than expected last month, cementing expectations that the Federal Reserve is about to dial down the size of its interest rate hikes. The encouraging inflation data raised hopes for easing pressure on the economy ahead of an interest rate policy…
LIVE NOW: US Attorney Discusses Charges Against FTX Founder Sam Bankman-Fried
U.S. Attorney for the Southern District of New York Damian Williams discusses charges against FTX founder Sam Bankman-Fried. Speakers Damian Williams, United States Attorney for the Southern District of New York Michael J. Driscoll, Assistant Director-in-Charge, FBI New York Gurbir Grewal, Director of Enforcement, Securities and Exchange Commission Gretchen Lowe, Acting Director of Enforcement for…
US Attorney Discusses Charges Against FTX Founder Sam Bankman-Fried
U.S. Attorney for the Southern District of New York Damian Williams discusses charges against FTX founder Sam Bankman-Fried. Speakers Damian Williams, United States Attorney for the Southern District of New York Michael J. Driscoll, Assistant Director-in-Charge, FBI New York Gurbir Grewal, Director of Enforcement, Securities and Exchange Commission Gretchen Lowe, Acting Director of Enforcement for…
US Attorney Announces Charges Against FTX Founder Sam Bankman-Fried
U.S. Attorney for the Southern District of New York Damian Williams announces charges against FTX founder Sam Bankman-Fried in New York on Dec. 13. Speakers Damian Williams, United States Attorney for the Southern District of New York Michael J. Driscoll, Assistant Director-in-Charge, FBI New York Gurbir Grewal, Director of Enforcement, Securities and Exchange Commission Gretchen…
US Stock Market Soars After Inflation Data Cooler Than Expected
The U.S. stock market jumped on Tuesday as the Consumer Price Index (CPI) data came in lower than expected, boosting investor expectations that inflation might ease down in the near future. The 12-month CPI for November came in at 7.1 percent, down from 7.7 percent in October. It was the fifth straight monthly decline after…
Biden Admin Grants $2.5 Billion Loan to GM, LG Energy Solution to Build EV Battery Cell Factories
The U.S. Department of Energy (DOE) announced on Monday the closing of a $2.5 billion loan to Ultium Cells LLC, a joint venture between General Motors and South Korea’s LG Energy Solution, aimed at financing the construction of three new lithium-ion battery cell factories. In a statement, the DOE said the loan will reinforce the “Biden-Harris Administration’s commitment…
US November Deficit Rises Sharply as Revenues Fall, Outlays Jump
WASHINGTON—The November U.S. budget deficit jumped by $57 billion or 30 percent from a year earlier to $249 billion, a record for the month, as revenues fell and outlays for education, healthcare, and interest on the public debt rose sharply, the U.S. Treasury said on Monday. Receipts for November fell 10 percent or $29 billion…
Bond Traders Expecting Inflation to Plummet in 2023
U.S. inflation is set to decline next year, according to activity in the bond market, with the gap between the two-year and 10-year Treasury yields trading at its most negative level in decades. The gap between one-year Treasury inflation-protected securities and similar-dated nominal government notes is at 2.18 percent, indicating that average inflation over the…
New FTX CEO John Ray: Commingling Client Funds Not an Accident
New FTX CEO John Ray testifies before the U.S. House Financial Services Committee on Tuesday. This is the first hearing in the committee’s public investigation into the collapse of the crypto exchange. During the hearing, Ray told the committee that usage of FTX customer funds by Alameda was intentional, not an accident. FTX founder Sam Bankman-Fried…
FTX Founder Sam Bankman-Fried Faces Criminal Charges
Sam Bankman-Fried, founder of failed crypto exchange FTX, faces a litany of civil and criminal charges, including conspiracy to commit money laundering and wire fraud. Following Bankman-Fried’s arrest in the Bahamas on Monday, three U.S. agencies—the Commodity Futures Trading Commission (CFTC), the Securities and Exchange Commission (SEC), and the U.S. Attorney for the Southern District…
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