In an effort to help the Ukrainian military hold ground over the coming winter months, NATO and the U.S. have sped up the transfer of warm clothing, arms, and technology to counter drone strikes to Ukrainian forces. A NATO official told reporters, “The Ukrainians are on their front foot, and they certainly feel prepared for …
Continue reading “NATO: Putin aims to leave Ukraine cold and dark and hungry”
Under the new sanctions to begin in December this loophole will be closed Russia’s oil production could drop to as low as 9 million barrels per day (bpd) in December when the EU embargo on imports of Russian crude oil enters into force, Russian news agency TASS reported on Wednesday, citing analysts at the Energy …
Continue reading “Russia’s Oil Output Set To Fall By 1.5 Million Bpd In December”
European Union foreign ministers signed off on Monday on a military assistance mission to train 15,000 Ukrainian personnel in various member states. “Today we step up our support to Ukraine to defend itself from Russia’s illegal aggression. The EU Military Assistance Mission will train the Ukrainian Armed Forces so they can continue their courageous fight,” …
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Institutional investors were souring on cryptocurrencies even before this week. The sudden downfall of Sam Bankman-Fried’s FTX.com may have permanently damaged their prospects of being included in mainstream portfolios. While plenty of industry die-hards remain, many professional money managers are saying the case for crypto as a portfolio diversifier or digital gold has been debunked. …
Continue reading “Big Investors Are Giving Up on Crypto Markets Going Mainstream”
‘Central banks came too late to the game’ to fight inflation, says Jamie Dimon TOKYO — Conditions for an economic storm, including monetary tightening, inflation and the war in Ukraine, have all fallen into place, JPMorgan Chase CEO Jamie Dimon told Nikkei, warning that the world could see more “surprises” like the near meltdown of …
FTX announced it was filing for Chapter 11 bankruptcy along with Alameda Research and affiliated companies. Sam Bankman-Fried resigned from his role as CEO of FTX, though he will remain to assist an orderly transition. The new CEO, John J. Ray III, previously was brought in by Enron to clean up its finances. FTX filed …
Continue reading “FTX files for bankruptcy….. ‘worse than Theranos, worse than Madoff,’”
It’s still a bear market and the inverted yield curve is concerning, says Carl Icahn Jonathan Mondillo, abrdn head of North American fixed income, says they still expect the Federal Reserve to keep raising rates. FRANKFURT (Reuters) – Financial investors might be underestimating the “persistence of inflation”, the European Central Bank’s vice-president Luis de Guindos …
SINGAPORE (Reuters) -Oil prices jumped more than 2% on Friday after health authorities in China, the top global crude importer, eased some of the country’s heavy COVID curbs. Brent crude futures rose $2.39, or 2.6%, to $96.06 a barrel by 0745 GMT, extending a 1.1% rise in the previous session. U.S. West Texas Intermediate (WTI) …
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Cleveland Fed President Loretta Mester asserted on Thursday that the central banking system must continue its tightening policy until upside inflation risks are gone. Providing remarks following the latest CPI data, which showed annual US inflation declined to 7.7% last month, Mester argued that the Federal Reserve’s key risk remains not hiking rates enough. It …
Cryptocurrencies extended their slide for a second day Wednesday as the market absorbed the potential collapse of popular crypto exchange FTX. Prices were pressured to start the day and plunged by late afternoon as Binance, the largest global exchange by volume, abandoned plans to acquire Sam Bankman-Fried’s FTX after a due diligence exam and recent …