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…
FTX Founder Sam Bankman-Fried Faces Criminal Charges
December 13, 2022
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Business & MarketsCompaniesCrime and IncidentscryptocurrencyFTXInvestmentMarketsPoliticsSam Bankman-FriedUSUS News
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CPI Numbers Reveal Inflation Cooled in November, but Consumer Prices Still Remain Significantly High
December 13, 2022
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Business & Marketsconsumer price index (CPI)economyenergy costsfed ratesfood pricesgas priceshigh inflationinflationMarketsUS
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The Consumer Price Index (CPI) released today shows that average prices for goods went up 0.1 percent in November compared to October, and increased 7.1 percent on an annual basis, revealing a cooling down of inflationary expansion as expected by economists even as prices persist at decades-high levels. The CPI, the most widely adopted inflation…
Stocks Open Sharply Higher as Inflation Cools in November
Stocks are opening sharply higher on Wall Street after the government reported that inflation slowed dramatically last month. The S&P 500 jumped 2.5 percent in the early going Tuesday and the tech-heavy Nasdaq composite rose 3.3 percent. Treasury yields also fell sharply following the report showing that consumer prices rose 7.1 percent in November from…
Dollar Steadies in Calm Before CPI and Central Bank Storm
London—The dollar steadied on Tuesday ahead of the release of U.S. inflation data and the final Federal Reserve meeting of the year, with investors waiting to update interest rate outlooks. A month ago, a small surprise to the downside unleashed a wave of bond buying and dollar selling on the expectation that inflation had peaked….
Oil Climbs on Supply Disruptions, Easing COVID-19 Restrictions in China
December 13, 2022
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Business & Marketseconomic policieseconomyenergyglobalGold and CommoditiesinflationMarketsOilrecessionstocks
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LONDON—Oil extended gains on Tuesday on supply disruptions and as COVID-19 restrictions eased in China, the world’s largest crude importer. Brent crude futures were up 64 cents, or 0.82 percent, to $78.63 per barrel by 1159 GMT, while U.S. West Texas Intermediate (WTI) crude futures gained 39 cents, or 0.53 percent, to $73.56. WTI hit…
Shares, Dollar Hold Steady Ahead of Key Inflation Data
December 13, 2022
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Business & Marketseconomic policieseconomyenergyglobalGold and CommoditiesinflationMarketsrecessionstocks
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LONDON—Global stocks held steady on Tuesday, while the dollar eased modestly ahead of U.S. inflation data that could persuade the Federal Reserve and other central banks to step back from aggressive interest rate hikes. Headline consumer price pressures for November in the world’s largest economy are expected to have fallen for a fifth successive month,…
ESG Funds Underperforming S&P 500, Streak Expected to Continue Through 2023
December 13, 2022
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Business & Marketseconomic policieseconomyenvironmental social and governance (ESG) policiesesg agendaesg fundsESG investingInvestmentMarketsS&P 500 indexstocksUSUS News
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Several investment funds that adhere to environmental, social, and governance (ESG) policies have performed worse than the S&P 500 index this year, with the underperformance of such funds potentially set to continue through 2023 as well. A Bloomberg analysis of the 10 largest ESG funds by assets reveals that they have all registered double-digit losses….
FTX Founder Sam Bankman-Fried, New CEO John Ray To Testify Before Congress
Sam Bankman-Fried, founder of failed crypto exchange FTX, will testify before the U.S. House Financial Services Committee on Tuesday. New FTX CEO John Ray will also appear before the committee. The hearing will commence the first step in the committee’s public investigation into the collapse of the crypto exchange. FTX filed for U.S. bankruptcy protection on…
New FTX CEO John Ray to Testify Before Congress
New FTX CEO John Ray is scheduled to testify before the U.S. House Financial Services Committee on Dec. 13. FTX founder Sam Bankman-Fried was also scheduled testify remotely from the Bahamas, but this remains uncertain now that he has been detained by Bahamian law enforcement. This comes after a U.S. court shared a sealed indictment…
Closing Prices for Crude Oil, Gold and Other Commodities (Dec. 12)
December 12, 2022
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Benchmark U.S. crude oilBrightBusiness & MarketsgoldGold and CommoditiesinvestingMarketspersonal finance
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Benchmark U.S. crude oil for January delivery rose $2.15 to $73.17 a barrel Monday. Brent crude for February delivery rose $1.89 to $77.99 a barrel. Wholesale gasoline for January delivery rose 2 cents to $2.08 a gallon. January heating oil rose 17 cents to $2.97 a gallon. January natural gas rose 34 cents to $6.59…
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