FRANKFURT—Eurozone consumer expectations for inflation in the year ahead rose in October but predictions for three years out held steady at a rate still well above the European Central Bank’s 2 percent target, the ECB said in a monthly survey on Wednesday. Inflation soared this year on sky high energy and food prices, and the…
ECB Survey Shows Rising Inflation Expectations for Year Ahead
December 7, 2022
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Business & MarketsECBeconomic policieseconomyenergyEuropeeurozoneGold and CommoditiesinflationMarketsrecessionSurveyWorld
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Dollar Flat as Growth Outlook Darkens, Yuan Firms as China Eases Curbs
SINGAPORE/LONDON—The dollar was little changed on Wednesday after some of the biggest U.S. banks warned of an impending recession, while China’s yuan firmed as authorities loosened some of the country’s zero-COVID rules. Top bankers from JPMorgan Chase & Co., Bank of America, and Goldman Sachs said overnight that the banks are bracing for a worsening…
Oil Falls Close to 2022 Lows on Economic Worries, Easing Supply Fears
December 7, 2022
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Business & Marketseconomic policieseconomyenergyglobalGold and CommoditiesinflationMarketsOilrecessionstocks
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LONDON—Oil weakened on Wednesday, with Brent crude falling close to its lowest this year, pressured by concern about recession and easing fears that a Western cap on Russian oil prices would significantly curb supply. Warnings from big U.S. banks about a likely recession next year weighed, and supported the U.S. dollar. A stronger dollar makes…
Stocks Sputter as Growth Fears Offset China COVID-19 Shift
December 7, 2022
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Business & Marketscryptocurrencyeconomic policieseconomyenergyglobalGold and CommoditiesinflationMarketsrecessionstocks
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MILAN/SINGAPORE—World stocks eased on Wednesday and bonds remained supported after a chorus of Wall Street bankers warned about a likely recession ahead, tempering optimism about China’s major shift in its tough zero-COVID policy. Top executives at Goldman Sachs, J.P. Morgan, and Bank of America all sounded downbeat in remarks on Tuesday about the economic outlook,…
Russian Oil Sanctions Fuel Boom for Old Tankers
LONDON—The market for old oil tankers is booming, and it’s all down to efforts by Western nations to curb trade in Russian crude. As Western shipping and maritime services firms steer clear of Russian oil to avoid falling foul of sanctions or harming their reputations, new companies have leapt into the void, and they’re snapping…
Stocks Fall Again on Wall Street, Extending Recent Losses
Stocks closed broadly lower on Wall Street Tuesday, extending the market’s recent string of losses, as traders ponder the Federal Reserve’s next moves in its campaign to cool stubbornly hot inflation. The S&P 500 fell 1.4 percent, its fourth straight drop. The Dow Jones Industrial Average fell 1 percent and the Nasdaq composite lost 2…
Closing Prices for Crude Oil, Gold and Other Commodities (Dec. 6)
December 6, 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 fell $2.68 to $74.25 a barrel Tuesday. Brent crude for February delivery fell $3.33 to $79.35 a barrel. Wholesale gasoline for January delivery fell 5 cents to $2.15 a gallon. January heating oil fell 8 cents to $2.92 a gallon. January natural gas fell 11 cents to $5.47…
Investing: Nibble at These Core Index Bargains
By Nellie S. Huang From Kiplinger’s Personal Finance When the stock market gets wobbly, we suggest making a shopping list of stocks you can pick up at lower prices. But it’s hard to pull the trigger on shares in a single company if you think prices will fall further. Here’s another idea: Invest some money…
The Fall of Sam Bankman-Fried and His Crypto Empire: A Timeline
Sam Bankman-Fried, a 25-year-old MIT graduate, left the quantitative trading firm Jane Street in 2017 to start his own hedge fund, Alameda Research. At first, the crypto-centric fund focused on low-risk algorithmic trades. After two years of running the business, Bankman-Fried embarked on the ambitious goal of starting a crypto trading exchange that would become…
Artificial Chocolate Attempts to Sidestep Cocoa’s Biggest Problems
A new start-up is trying create the perfect fake chocolate that tastes the same as the real thing. Some chocolate fans are reportedly concerned about the ethical relationship between the cocoa industry, deforestation, and use of child labor. A new British food company claims that it has created a “guilt-free alternative to chocolate that can…
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