Elon Musk briefly loses his title as the richest person in the world to LVMH’s Arnault – Forbes

Elon Musk briefly loses his title as the richest person in the world to LVMH’s Arnault – Forbes

Dec 7 (Reuters) – Twitter owner and Tesla (TSLA.O) boss Elon Musk briefly lost his title as the world’s richest person on Wednesday, according to Forbes, following a sharp drop in the value of its stake in the electric car manufacturer. and a $44 billion bet on the social media company. Bernard Arnault, chief executive … Read more

China’s trade suffers worst slump in 2½ years as COVID woes and weak demand take their toll

China’s trade suffers worst slump in 2½ years as COVID woes and weak demand take their toll

China’s Worst Exports Since February 2020, Forecast Wrong Imports fall the most since May 2020 due to sluggish demand Global economic downturn, China’s COVID woes increase pressure Politburo meeting points to key driver of domestic demand in 2023, analyst says BEIJING, Dec 7 (Reuters) – China’s exports and imports shrank at their fastest pace in … Read more

Bankman-Fried and Ellison seek attorneys as FTX probes escalate

Bankman-Fried and Ellison seek attorneys as FTX probes escalate

NEW YORK, Dec 6 (Reuters) – FTX founder and former chief executive Sam Bankman-Fried and Caroline Ellison, head of his now-defunct trading subsidiary, called in defense attorneys as authorities Americans are investigating the collapse of the crypto exchange, according to a Bankman-Fried spokesperson and a source familiar with Ellison’s selection. Bankman-Fried has retained Mark S. … Read more

Wall Street dragged by recession fears, S&P on track for 4th cut

Wall Street dragged by recession fears, S&P on track for 4th cut

Meta stumbles upon EU concern report over targeted ads Energy stocks fall as crude trades at lowest level since January Indices down: Dow 1.39%, S&P 1.78%, Nasdaq 2.22% Dec 6 (Reuters) – Wall Street benchmarks fell again on Tuesday, with the S&P 500 on track for a fourth consecutive decline, amid uncertainty around the direction … Read more

Stocks fall, dollar stabilizes as market assesses Fed rate policy

Stocks fall, dollar stabilizes as market assesses Fed rate policy

NEW YORK/LONDON, Dec 6 (Reuters) – Global stocks headed for a third straight day of losses on Tuesday and the dollar held steady as the market assesses how long the Federal Reserve is keeping interest rates higher. high and the likelihood that the policy will cause a recession. US equities trailed European equities lower, with … Read more

Exclusive: Goldman Sachs on the hunt for cheap crypto firms after FTX fiasco

Exclusive: Goldman Sachs on the hunt for cheap crypto firms after FTX fiasco

LONDON, Dec 6 (Reuters) – Goldman Sachs (GS.N) plans to spend tens of millions of dollars buying or investing in crypto companies after the FTX stock market crash hit valuations and chilled the market. interest of investors. The FTX implosion has increased the need for more trusted and regulated cryptocurrency players, and big banks see … Read more

Wall St slips as services data spooks investors over Fed rate hikes

Wall St slips as services data spooks investors over Fed rate hikes

U.S. service sector activity picks up in November Tesla cuts Shanghai factory production plan for December – sources All S&P 500 sectors pull back, with energy stocks hit hard Indices down: Dow 1.4%, S&P 1.79%, Nasdaq 1.93% Dec 5 (Reuters) – U.S. markets ended lower on Monday as investors spooked by better-than-expected data from the … Read more