China markets tank as protests erupt over Covid lockdowns

China markets tank as protests erupt over Covid lockdowns

Hong Kong CNN Business  —  China’s major stock indices and its currency have opened sharply lower Monday, as widespread protests against the country’s stringent Covid-19 restrictions over the weekend roiled investor sentiment. Hong Kong’s Hang Seng (HSI) Index fell as much as 4.2% in early trading. It has since pared some losses and last traded … Read more

Fact check: Biden’s midterms message includes false and misleading claims

Fact check: Biden’s midterms message includes false and misleading claims

Washington CNN  —  President Joe Biden has been back on the campaign trail, traveling in October and early November to deliver his pitch for electing Democrats in the midterm elections on Tuesday. Biden’s pitch has included claims that are false, misleading or lacking important context. (As always, we take no position on the accuracy of … Read more

Fed warns of ‘low’ market liquidity in $24 trillion Treasury market, in latest financial stability report

Fed warns of ‘low’ market liquidity in  trillion Treasury market, in latest financial stability report

The Federal Reserve on Friday confirmed what many investors were saying for some time: the $24 trillion Treasury market has been experiencing low levels of market liquidity in recent months. The central bank has been rapidly increasing interest rates since March as part of a fight to bring inflation down from a 40-year high. The … Read more

U.S., Allies Set Parameters for Price Cap on Russian Oil

U.S., Allies Set Parameters for Price Cap on Russian Oil

WASHINGTON—The U.S. and its allies have agreed on which sales of Russian oil will be subject to a price cap, racing to flesh out the details of the major new sanctions program before it begins on Dec. 5. Each load of seaborne Russian oil will only be subject to the price cap through its first … Read more

What does Russia quitting grain deal mean for global hunger?

What does Russia quitting grain deal mean for global hunger?

CNN  —  Russia’s decision to pull out of an agreement that guaranteed safe passage for ships carrying vital grain exports from Ukraine has sparked “grave concerns” over global food supply at a time when the world is already facing a growing hunger crisis. Global humanitarian organizations, the European Union, NATO and the United Nations have … Read more

BP’s profit more than doubles as calls for windfall taxes grow louder

BP’s profit more than doubles as calls for windfall taxes grow louder

London CNN Business  —  BP’s profit more than doubled in the third quarter of the year, extending a bumper run of earnings for the world’s biggest oil and gas companies that will add to growing calls in Britain and the United States for higher taxes on windfall profits. The UK-based energy company posted underlying profit … Read more

Fact check: Biden falsely claims the most common gas price was over $5 when he took office

Fact check: Biden falsely claims the most common gas price was over  when he took office

CNN  —  President Joe Biden has made another false claim about gas prices. During a Thursday speech in Syracuse, New York, Biden accurately said that gas prices, now averaging about $3.76 per gallon, have declined by roughly $1.25 since this year’s June peak of over $5 per gallon. But then he claimed, “Today, the most … Read more

This hedge fund manager who made winning bets in 2020, says investors should brace for a decades-long bear market

This hedge fund manager who made winning bets in 2020, says investors should brace for a decades-long bear market

On the heels of last week’s bullish turn for stocks, the setup is looking slightly less positive for Monday. Hong Kong stocks may be affecting the mood with a giant slump after China’s leader cemented his power. And we’re entering Fed blackout period ahead of next week’s meeting that’s expected to deliver yet another three-quarters … Read more

Goldman names stocks to buy in 4 sectors ‘critical’ to clean energy

Goldman names stocks to buy in 4 sectors ‘critical’ to clean energy

Goldman Sachs has identified four “critical” sectors in the clean energy market, beyond the usual suspects. They are: copper or aluminum, electricity transmission, semiconductors and cybersecurity. Dubbing them “greenablers,” the investment bank said these sectors are less appreciated by ESG investors but could be “in the framework of investors potentially looking beyond Solar/Wind/Water stocks.” “We … Read more

Sanctions on Russia aluminum could hurt global supply chains: Analysts

Sanctions on Russia aluminum could hurt global supply chains: Analysts

Aluminum is the latest casualty of global economic headwinds as prices sink amid alleged dumping of Russian aluminum, weakening global demand and soaring operational costs. Earlier this week, stocks of aluminum in the London Metals Exchange (LME) warehouses leapt, sparking concerns of potential dumping of Russian-origin aluminum. The White House is already considering a ban on … Read more