Monthly Archives: January 2024
Red Sea risk to oil ‘very real,’ prices could change rapidly if supply disrupted, Chevron CEO says
(CNBC) The crisis in the Red Sea poses serious risks to oil flows and prices could change quickly if tensions lead to a major supply disruption in the Middle East, according to Chevron CEO Michael Wirth. The Chevron CEO said […]
Corporate debt defaults soared 80% in 2023 and could be high again this year, S&P says
(CNBC) The number of companies that failed to make required payments on their debt totaled 153 for 2023, up from 85 the year before, an increase of 80%. It was the highest default rate outside of the Covid-related spike in […]
Crypto firm Ripple explored IPO outside of U.S. because of ‘hostile’ SEC, won’t go public soon
(CNBC) Ripple explored markets outside the U.S. for its initial public offering, CEO Brad Garlinghouse told CNBC, blaming a “hostile” regulator. However, the firm has put any plans for an IPO on hold for now, Garlinghouse said. To read this […]
Stock futures are lower to start shortened trading week: Live updates
(CNBC) Stock futures are lower Monday night as Wall Street awaits further data and bank earnings that will provide a better glimpse into the state of the American consumer. Futures tied to the Dow Jones Industrial Average lost 50 points, […]
Bitcoin ETFs could open floodgates to $30 trillion wealth management market
(CNBC)For the $30 trillion advised wealth management industry, the floodgates could be about to open. Analysts at Standard Chartered anticipate fund inflows in the range of $50 billion to $100 billion in 2024. “Bitcoin is beginning to become a benchmark […]
Microsoft tops Apple as world’s most valuable public company
(CNBC) Microsoft is now the most valuable publicly traded company, surpassing Apple after briefly topping the iPhone maker during intraday trading last week. Shares of Microsoft climbed more than 3% for the week, bringing the company’s market cap to $2.89 […]
Elon Musk wants more control of Tesla, seeks 25% voting power
(CNBC) Tesla and SpaceX CEO Elon Musk, who also owns the social network X (formerly known as Twitter), said Monday that he wants about 25% of voting control over his electric vehicle business. Musk already owns around 13% of Tesla, […]
AI fever takes over Davos pushing crypto aside as the new cool kid on the block
(CNBC) For the last few years at the World Economic Forum cryptocurrency firms dominated the main strip in Davos, promoting their wares. But in 2024, artificial intelligence has taken over. Some of the world’s biggest companies are pushing their AI […]
Torq Capital to close as founder opts for Citadel return
(Hedgeweek) Hong Kong-based hedge fund Torq Capital is shutting up shop after more than seven years of trading with founder and Chief Investment Officer Avinash Abraham set to re-join Citadel as a Portfolio Manager, 15 years after leaving the firm, […]
Gambino leaves Eisler to launch own hedge fund – again
(Hedgeweek) Sean Gambino, who closed his own Heron Bay Capital hedge fund firm in 2022 to join Eisler Capital, is leaving the multi-strategy investment firm to set up on his own again, according to a report by Bloomberg. To read […]
Future FinTech CEO Charged With Fraud and Disclosure Failures
(HedgeCo.Net) The Securities and Exchange Commission has charged Shanchun Huang with manipulative trading in the stock of Future FinTech Group Inc., using an offshore account shortly before he became Future FinTech’s CEO in 2020. The SEC also charged Huang with […]
Stock futures are little changed as investors await more inflation data: Live updates
(CNBC) Stock futures are near flat Thursday night as investors looked ahead to the second in a pair of closely watched inflation reports this week. Futures tied to the Dow Jones Industrial Average lost 12 points, or 0.03%. S&P 500 […]
