Is China Done With Its Market Crackdown? Ash Fosun

Is China Done With Its Market Crackdown?  Ash Fosun

(Bloomberg Opinion) — Global investors are wondering these days if Beijing has decided to ease a yearlong regulatory crackdown that has cost them more than $1 trillion in losses. After all, China accounts for about one-third of the emerging markets benchmark index. It’s simply too big to be ignored. With no clear statement of policy … Read more

Biden addresses the Global Citizen Festival Saturday

Biden addresses the Global Citizen Festival Saturday

CNN — President Joe Biden and first lady Jill Biden will address the Global Citizen Festival on Saturday and underscore the administration’s commitment to climate action, according to remarks obtained by CNN. Biden will cite the Democrats’ $369 billion climate package, the largest such investment in US history – one that could have significant implications … Read more

Leaked Study Shows Exxon, Partners Overspent by $138 Billion

Leaked Study Shows Exxon, Partners Overspent by 8 Billion

(Bloomberg) — Oil and natural gas projects that Exxon Mobil Corp. invested in between 1998 and 2017 ended up costing $138 billion more than early-stage estimates, potentially due to mismanagement by operators and poor planning, according to an internal analysis seen by Bloomberg. The 2020 study, reviewing 110 projects in which Exxon took a stake … Read more

UK Market Plunge Sparks Talk of Emergency BOE Rate Hike

UK Market Plunge Sparks Talk of Emergency BOE Rate Hike

“The market is giving very strong signals that it is no longer willing to fund the UK’s external deficit position at the current configuration of UK real yields and exchange rate,” Saravelos wrote in a note, adding the view is his own, rather then the view of Deutsche Bank economists. “The policy response required to … Read more

Who Wins Most From Kwarteng’s Tax Bonanza?

Who Wins Most From Kwarteng’s Tax Bonanza?

Londoners are the big beneficiaries from the decision to double the threshold for paying stamp duty, a tax on homebuying. That’s because house prices in the capital are twice as high as the national average at more than £540,000, according to Land Registry data. Almost half that amount is now tax free, with the relief … Read more

These 20 stocks in the S&P skidded as much as 21.5% during another brutal week for the market

These 20 stocks in the S&P skidded as much as 21.5% during another brutal week for the market

Another difficult week for US stocks ended with shares of oil producers sliding and Ford Motor Co. tumbling further on concerns over supply shortages. The S&P 500 SPX, -1.72% fell 1.7% on Friday for a one-week decline of 4.6%, as investors continued to fret about the Federal Reserve’s interest-rate increases to temper inflation. Among components … Read more

Judge rejects Justice Dept.’s bid to stop sugar merger

Judge rejects Justice Dept.’s bid to stop sugar merger

WASHINGTON — A federal judge has rejected the Justice Department’s bid to block a major US sugar manufacturer from acquiring its rival, clearing the way for the acquisition to proceed. The ruling, handed down Friday by a federal judge in Wilmington, Delaware, comes months after the Justice Department sued to try to halt the deal … Read more