The lack of nuclear deal didn’t suppress the Iranian oil exports
Companies that monitor the flows report that despite U.S. sanctions, Iranian oil exports reached new highs in the latter two months of 2022 and are off to a great start in 2023 thanks to increased shipments to China or Venezuela. Since ex-U.S. President Donald Trump withdrew from a 2015 nuclear agreement and reinstituted sanctions in…
worldbusinessstar
Why an FAA system failure stopped flights in the United States
After previously forcing all aircraft in the United States to be grounded due to a malfunction of the system that warns pilots of any obstructions before take-off, the Federal Aviation Administration (FAA) has now allowed some flights to resume.By early Wednesday morning, the outage had caused more than 600 cancelled flights and almost 4,000 delayed…
Job losses at Goldman hurt investment bank and overseas trade severely
According to a source familiar with the situation, Goldman Sachs (GS.N) started terminating employees on Wednesday as part of a broad cost-cutting initiative. The investments banking and world markets division were home to around a third of all those affected. The Wall Street giant is poised to reduce employment in the largest way since the…
Upon word that Jack Ma was giving up control, shares of Ant-linked companies jump
Following news that Ant founder Jack Ma will relinquish control of the fintech behemoth following an overhaul, shares of registered Chinese companies with Ant Group as a significant stakeholder increased on Monday.Alibaba’s (9988.HK) Hong Kong-listed shares increased 7%.Along with Jilin Zhengyuan (003029.SZ), Longshine Technology Group Co Ltd (300682.SZ), Shanghai Golden Bridge Infotech Co (603918.SS), Hundsun…
Investors in U.S. stocks are fearful about a downturn as 2022 closes
As investors prepare for the anticipated recession in 2023, a difficult year for American equities is coming to a close. However, the market’s suffering may not be finished just yet.The benchmark S&P 500 index (.SPX) is dropped 19.8% year so far and is on track for its largest annual fall since 2008 as the Federal…
China’s resumption boosts the currency while Asian shares rise on Fed rate bets
The forecast for the global economy was improved by expectations for less vigorous U.S. rate hikes and the reopening of China’s borders, which led to a rise in Asian shares on Monday.South Korean stocks (.KS11) saw gains of 2.2%, while MSCI’s largest index of Asia-Pacific equities outside of Japan (.MIAPJ0000PUS) increased 2.0% to a five-month…
Market volatility in Brazil will increase as Bolsonaro allies swarm the capital
After fans of former president Jair Bolsonaro invaded important government facilities on Monday, mimicking the American uprising on January 6, 2021, analysts predicted that Brazilian assets could experience new volatility.Images of the planned invasion on Sunday afternoon surprised observers, including those in the financial sector. The assault overpowered police officers and severely damaged the interior…
U.S. judge believes Celsius Network owns the majority of consumer cryptocurrency deposits
The majority of Celsius Network’s customers would be last in queue for reimbursement in the crypto lender’s bankruptcy, according to a U.S. bankruptcy judge’s ruling on Wednesday that Celsius Network controls the majority of the cryptocurrency that users placed into its online platform.About 600,000 accounts that included assets worth $4.2 billion before Celsius filed bankruptcy…
Now, the most-capable executive after Musk is Tesla’s Chinese boss
Tom Zhu, the head of China for Tesla Inc. (TSLA.O), has been elevated to oversee directly both the company’s North American and European sales activities as well as its U.S. manufacturing plants for electric vehicles.The Tesla posting revealed that as of Tuesday, Zhu still held the position of vice president for the authority over Greater…
Yen reaches 6-month peak as Asia shares consider China fears
As investors assessed the short-term costs of the coronavirus illnesses in China against the long-term advantages of a full reopening of the second-largest economy in the world, Asian equities recovered from recent losses on Tuesday.After falling more than 1.0% in tumultuous early trade, MSCI’s broadest index of Asia-Pacific equities outside of Japan (.MIAPJ0000PUS) eked out…