Collapsed crypto exchange FTX has about $1.24 billion of cash in total — but still owes at least $3.1 billion

Collapsed crypto exchange FTX has about .24 billion of cash in total — but still owes at least .1 billion

In this photo illustration, a bitcoin logo seen displayed on a smartphone with a FTX logo on the background.  Avishek Das | Lightrocket | Getty Images FTX’s vast web of entities had a total of around $1.24 billion in cash balances as of Nov. 20, according to a new court filing out late Monday. The … Read more

5 things to know before the stock market opens Tuesday, November 22

5 things to know before the stock market opens Tuesday, November 22

Trader on the floor of the NYSE Source: NYSE Here are the most important news items that investors need to start their trading day: 1. For the birds There are still two more trading days until Thanksgiving, but things are already slowing down on Wall Street. Stocks slid during a low-volume session Monday as investors … Read more

Stock futures tick higher on Tuesday morning

Stock futures tick higher on Tuesday morning

Stock futures rose slightly Tuesday morning as worries over Covid cases in China kept investor sentiment in check. Futures tied to the Dow Jones Industrial Average climbed 59 points, or 0.17%. S&P 500 futures were 0.15% higher, while Nasdaq 100 futures advanced 0.03%. China saw its first deaths in the mainland from Covid since May … Read more

Bitcoin (BTC) hits 2-year low as FTX collapse contagion fears linger

Bitcoin (BTC) hits 2-year low as FTX collapse contagion fears linger

The crypto market has been battered this year, with more than $2 trillion wiped off its value since its peak in Nov. 2021. Cryptocurrencies have been under pressure after the collapse of major exchange FTX. Jonathan Raa | Nurphoto | Getty Images Bitcoin on Tuesday hit a two-year low as the cryptocurrency market takes a … Read more

Hong Kong stocks lead losses as China Covid cases rise; Asia markets mixed

Hong Kong stocks lead losses as China Covid cases rise; Asia markets mixed

JD.com shares drop after company cuts senior management pay Hong Kong-listed shares of JD.com traded more than 5% lower in the afternoon after the company confirmed pay cuts of its senior management team. The Chinese e-commerce giant confirmed that it will slash the cash salaries of its senior management team by up to 20%, effective … Read more

OPEC+ Eyes Output Increase Ahead of Restrictions on Russian Oil

OPEC+ Eyes Output Increase Ahead of Restrictions on Russian Oil

OPEC oil producers are discussing an output increase, the group’s delegates said, a move that could help heal a rift between Saudi Arabia and the Biden administration and keep energy flowing amid new attempts to blunt Russia’s oil industry over the Ukraine war. A production increase of up to 500,000 barrels a day is now … Read more

Germany mulls breaking subsidy taboo to avoid trade war with Biden – POLITICO

Germany mulls breaking subsidy taboo to avoid trade war with Biden – POLITICO

Press play to listen to this article Voiced by artificial intelligence. BERLIN — With only six weeks to avoid a transatlantic trade showdown over green industries, the Germans are frustrated that Washington isn’t offering a peace deal and are increasingly considering a taboo-breaking response: European subsidies. Europe’s fears hinge on America’s $369 billion package of … Read more

Is the Fed ‘going rogue’? Calls heat up to back off quest for 2% inflation

Is the Fed ‘going rogue’? Calls heat up to back off quest for 2% inflation

For at least a decade, the Federal Reserve’s position that a 2% inflation rate is where the economy best functions has been taken as gospel. But with a recession potentially on the horizon and the Fed continuing to slam on the brakes, calls are rising that the central bank should re-examine what has been essentially … Read more

Impacted by Major Layoffs? Here Are 3 Things to Consider – NBC Chicago

Impacted by Major Layoffs? Here Are 3 Things to Consider – NBC Chicago

It’s a tough topic that has dominated headlines in recent weeks: major layoffs are happening at some of the country’s largest companies, including within the once thought of bulletproof tech industry. Companies like Twitter, Meta and Amazon have all recently announced that layoffs unfolding. The unwelcome news naturally has many workers now thinking about their … Read more

Ray Dalio shares his outlook on Covid, real estate, politics in China

Ray Dalio shares his outlook on Covid, real estate, politics in China

Ray Dalio, founder of Bridgewater Associates, received an award from the China General Chamber of Commerce-USA in February 2022. China News Service | China News Service | Getty Images BEIJING — American billionaire Ray Dalio said while he’s far less familiar with China’s new leadership team than prior officials, he expects worries about their future … Read more