Elon Musk announced he would restore deleted Twitter Inc. accounts. These include previously banned users who expressed hate speech, incited violence or engaged in other actions that violate the company’s rules. This puts the ‘safe online space’ under a question mark. According to a survey conducted by Musk on Twitter last week, 72% of respondents …
Federal Reserve meeting showed support for sharp interest-rate increases. This sent the US dollar down. A gauge of global stocks pushed for the highest level in more than two months. Officials are more focused on the destination of the federal-funds rate rather than the pace required to get there. They wait to see the effect …
Rising COVID Cases Abroad Worry Investors While investors are concerned about the rising COVID cases overseas, the holiday-headed economy looks gloomy, and the US stocks fell on Monday. At around 4 p.m., the S&P 500 had dropped. The Dow Jones Industrial Average declined 0.1%, while the Nasdaq Composite fell 1%. Investors anticipated that if China’s …
Even as a top central banker cautioned that borrowing costs would need to go higher to get a grip on inflation, Israel raised interest rates less than expected by most economists. The longest monetary tightening cycle in decades remains intact as policymakers raise the benchmark rate from 2.75% to 3.25% for the sixth consecutive year. …
Bank of Israel Indicates More Interest Rate Hikes Ahead Read More »
Foreign Investors Are Calculating Their Own Forex Rate in Nigeria Due to a chronic dollar shortage, the naira trades at an official and a much lower parallel rate. Correspondingly, foreign investors are using their calculations to value their ambushed Nigerian holdings. Pricing for two stocks listed in Lagos and London, Airtel Africa Plc and Seplat …
Reporting This Week’s Currencies Around the World Read More »
Many investors were taken aback by the recent collapse of the cryptocurrency exchange FTX. This left customers waiting for answers about an equivalent of $1 to $2 billion in missing money. FTX is currently in bankruptcy protection. Experts believe there are important lessons for cryptocurrency investors as the company’s future — and probes into the …
FTX’s New CEO in A Court Filing Indicated He Has No Confidence in Financial Statements Current management is racing to establish how much money FTX has today, according to the company’s new CEO. He claimed that inadequate controls over the company’s billions of cash and cryptocurrency assets under Sam Bankman-Fried had left current management in …
Lack of Internal Controls Contributing to FTX Downfall Read More »
Hawkish Comments from Federal Reserve Officials and Economic Data Overrule Prior Optimism of Traders Investor enthusiasm for a possible moderation in interest-rate rises waned on Thursday, sending stocks down. In morning trading, the S&P 500 dropped by almost a point. Wednesday’s loss of points by the benchmark gauge was offset by stock gains last week. …
Stocks Falling with Decreased Optimism on Fed Slowdown Read More »
Mr. Musk is trying to put his stamp on Twitter while attending the Court of Chancery – a bumpy period for the entrepreneur. He attempted to implement various product changes while “layoffing” roughly half of the social media platform’s workforce. He even tweeted about Twitter before his testimony. The case centered on whether Musk had …
Asia Stocks Shining Their Best Light Since 1998 Some analysts worry China’s reopening euphoria will give way to the harsh reality of a looming global recession. A world-beating rally across Asian markets looks precarious. As bets for a softer Federal Reserve tightening and China’s shift away from COVID-Zero ignited a buying fever, stocks are on …
US Consumers Spent More on Everyday Staples and Autos in October According to the Commerce Department’s data released on Wednesday, October retail sales increased by 1.3% compared to September. October’s economy data included spending on clothing, wine, ottomans, and meals at restaurants. September data showed no changes from the month prior. Auto dealers, furniture shops, …
American Stock Market Recovers from Last Week’s Plummet Investors rushed back into global stock markets after U.S. producer prices verified an inflation deceleration and revived trust in the Federal Reserve’s ability to slow down its pace of interest rate hikes. Treasury yields dropped by ten basis points, and contracts on the tech-heavy Nasdaq 100 increased …
Commodity costs have soared to a staggering start to the month, with their largest back-to-back weekly increases since 1960. Twenty-seven commodities, ranging from metals to energy to agriculture, have recorded spectacular double-digit single-day gains this quarter, outperforming every asset class. Commodities are commonly experiencing 10% or more in back-to-back gains virtually every week, which we …
On Monday, the U.S. dollar climbed versus the euro and yen as investors focused on the Fed’s interest rate hiking path. This followed a policymaker’s remark that last week’s colder U.S. Inflation figures had too much attention. But even though the dollar rose versus the yen and euro, it retreated from its highs as investors …
During the weekend, crypto industry got “dirty” when FTX and its US subsidiary FTX US were hacked. Hundreds of millions of dollars were stolen from the exchange’s wallets. After sending $405 million to the wrong recipient, crypto exchange Crypto.com has come under fire. This alarmed crypto enthusiasts as the whirlwind of this week’s collapse of …
WhoIs Best Broker is leading Forex and Economy news Website. We provide you with the latest news and videos straight from the Financial Industry..
