The local share market has jumped to a six-day high and is close to its best level in five and a half months. The benchmark S&P/ASX200 index was up 35 points to 7174.3 at noon AEDT on Tuesday, a rise of 0.49 percent. The broader All Ordinaries was up 32.8 points to 7367.9, a 0.45…
Closing Prices for Crude Oil, Gold and Other Commodities (Nov. 21)
November 21, 2022
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Benchmark U.S. crude oilBrightBusiness & MarketsgoldGold and CommoditiesinvestingMarketspersonal finance
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Benchmark U.S. crude oil for December delivery fell 35 cents to $79.73 a barrel Monday. Brent crude for January delivery fell 17 cents to $87.45 a barrel. Wholesale gasoline for December delivery rose 2 cents to $2.44 a gallon. December heating oil fell 2 cents to $3.50 a gallon. December natural gas rose 48 cents…
Stocks End Lower on Wall Street as Tech Weighs Down Nasdaq
Stocks ended lower on Wall Street at the beginning of a holiday-shortened week. The S&P 500 fell 0.4 percent Monday, while drops in tech companies helped pull the Nasdaq down 1.1 percent. The Dow Jones Industrial Average held up better, ending down just 0.1 percent. The Dow benefited from a big gain in Disney, which…
New CEO of Bankrupt FTX Being Paid $1,300 an Hour, Court Filings Show
November 21, 2022
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bankruptcyBusiness & MarketsCompaniescrypto collapseCrypto Exchange FTXcrypto fraudcryptocurrencyeconomic policiesMarketsUS
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John Ray, who has been hired as the new CEO of bankrupt crypto exchange FTX, is being paid a hefty sum of money for his services, according to legal documents filed by the company. Ray, who once led the infamous energy firm Enron through its bankruptcy proceedings, replaced FTX’s former CEO Sam Bankman-Fried. Ray is…
FTX Collapse Adds to 2022 Woes for Pension Funds, Investment Firms
Following the bankruptcy of cryptocurrency exchange FTX, a growing number of pension funds and investment firms are revealing that they were directly or indirectly exposed to Sam Bankman-Fried’s crypto empire, resulting in hefty losses for investors in the United States and Canada. This comes as many of these pension funds and Wall Street firms have…
Global Liquefied Natural Gas Supplies Are Sold Out Until 2026, Major LNG Importer Warns
November 21, 2022
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Business & MarketseconomyenergyEuropean UnionInternationalliquefied natural gasMarketsRussiasupplyUnited StatesUSWorld
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Japan, the leading importer of liquefied natural gas (LNG), is warning about supplies getting tighter over the coming years due to competitive markets and underinvestment in supply. Long-term LNG contracts prior to 2026 have all been sold out, a survey of Japanese firms by the country’s trade ministry has found. “The LNG procurement environment has…
After FTX Collapse, Bank of England Warns of Bigger ‘Crypto Shock’ in Future
November 21, 2022
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Business & MarketsCrypto Exchange FTXcryptocurrencyeconomyFTXInvestmentMarketsThe Bank of EnglandUKWorld
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The deputy governor of the Bank of England has warned of the need to regulate cryptocurrency following the collapse of the FTX exchange. FTX filed for bankruptcy protection on Nov. 11 as CEO and founder Sam Bankman-Fried resigned. Sir Jon Cunliffe told an audience at a Warwick Business School event on Monday: “While the crypto…
Collapsed FTX Owes Nearly $3.1 Billion to Top 50 Creditors
Cryptocurrency exchange FTX, which has filed for U.S. bankruptcy court protection, said it owes its 50 biggest creditors nearly $3.1 billion. The exchange owes about $1.45 billion to its top ten creditors, it said in a court filing on Saturday, without naming them. FTX and its affiliates filed for bankruptcy in Delaware on Nov. 11…
Lessons From the ‘Nifty Fifty’
Commentary Just recently, Bank of America had a great piece of analysis on the “5 Lessons From the Nifty Fifty.” Of course, if you are unfamiliar with the importance of the “Nifty Fifty,” it is worth explaining. The “Nifty Fifty” refers to the 50 most popular large-cap stocks in the 1960s and 1970s. These “household”…
CEO of Ukrainian Crypto Firm Denies FTX–Ukraine Money-Laundering Allegations
Everstake, a Ukraine-based cryptocurrency firm, has been caught in the crosshairs of a controversial relationship involving Kyiv, Democrats, and the beleaguered FTX exchange that has captured the attention of Washington officials. As part of efforts to generate more funds for the war effort, the Ukrainian government launched “Aid for Ukraine,” a website that accepted cryptocurrency…
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