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
hong kong CNN Business — Foxconn has offered to pay newly recruited workers 10,000 yuan ($1,400) to quit and leave the world’s largest iPhone assembly factory, in an attempt to quell protests that saw hundreds clash with security forces at the compound in central China. The Apple supplier made the offer Wednesday following dramatic scenes … Read more
Fresh China COVID-19 worries are threatening to nix any preholiday gains for Wall Street, with stock futures in the red and the dollar higher ahead of Monday’s open. In a shortened week that will bring both Thanksgiving and the World Cup kickoff, investors have all sorts of excuses to head to the sidelines. Those sticking … Read more
According to Fed Reserve Gov. Christopher Waller and several strategistslast week’s softer-than-expected October CPI that sent the S&P 500 to its best level in five months was overdone. His words may be getting through as stock futures point to a softer start as the last full week before Thanksgiving kicks off. We’ll also get retail … Read more
London CNN Business — The stunning downfall of the FTX exchange, one of the biggest and most reputable players in the market for digital assets, is sparking alarm among people who own cryptocurrencies as investors run for cover. There are still many unanswered questions. But two big ones loom: How far will the damage spread? … Read more
Markets probably didn’t need another more brick on the 2022 wall of worries, but got one anyway as FTX, the world’s third largest crypto exchange, is teetering on a collapse that could upend already shaky broader risk appetite. Read: Sequoia on its FTX investment: Some surprise to the upside, and some surprise to the downside … Read more
A screenshot from the FTX ad featuring comedian Larry David that ran during the Super Bowl in February 2022.screenshot: FTX / YouTube The Department of Justice and Securities and Exchange Commission are investigating FTX, a crypto platform that halted withdrawals on Tuesday, according to a new report from the wall street journal. And while the … Read more
New York CNN Business — In an abrupt reversal, cryptocurrency exchange Binance pulled out of a deal to acquire its embattled rival FTX, saying the company’s problems were “beyond our control or ability to help.” Binance, the world’s largest crypto exchange, said it reviewed FTX’s finances as part of the due diligence process, and it … Read more
The economy is a major issue heading into the midterm elections, with one NYTimes/Siena poll showing 44% of voters stating inflation and the economy is the most important problem facing the country. This means it will play a role in the voting booth, but how much so remains to be seen. WHAT IS INFLATION? In … Read more
Naomi Judd’s decision to name husband Larry Strickland executor of her will is not uncommon, but may be perceived as a slight to daughters, Wynonna and Ashley Judd, a legal expert exclusively tells Page Six. “It is common to name the spouse as the executor of a will. But leaving out her daughters seems pointed, … Read more