China’s Middle East Clout Has Limits

For most of the past decade, China’s story in the Middle East has been straightforward: endlessly rising investment, trade and influence. Having brokered a return to diplomatic relations between Saudi Arabia and Iran earlier this year and given its strong economic relationship with Israel, China has also found itself in the spotlight as the conflict … Read more

Hack at ICBC Targeted the Digital Underbelly of Financial Markets

Unit of Industrial and Commercial Bank of China remains unplugged for U.S. markets.

The Electric-Car Era Needs a Lot of Really Big Trees

Demand for utility poles is high due to infrastructure spending and grid upgrades.

Markets Got an Unexpected Boost From Washington. Will It Mark a Turning Point?

The Treasury Department handed investors a happy surprise last week. Now the question is how far they can run with it. Stocks and bonds both staged rallies last week, getting a boost when the Treasury increased the size of longer-term debt auctions by a smaller amount than many had expected. Copyright ©2023 Dow Jones & … Read more

Sam Bankman-Fried Verdict Reflects Crypto’s Broken Dreams

Sam Bankman-Fried is gone. And crypto is back to its favorite activity: a wild speculative rally. The FTX founder’s trial featured a parade of witnesses detailing a multibillion-dollar fraud at the heart of the crypto market. None of it dented the enthusiasm of crypto investors. During the trial, crypto prices surged on optimism that U.S. … Read more

FTX Founder Sam Bankman-Fried Found Guilty of Fraud

Listen to article (2 minutes) FTX founder Sam Bankman-Fried was convicted Thursday of stealing billions of dollars from customers of the doomed crypto exchange, in what prosecutors called one of the biggest financial frauds in U.S. history.  A New York federal jury convicted him of all seven counts he faced. The verdict capped the stunning … Read more

Jurors in Sam Bankman-Fried Trial Expected to Begin Deliberations

Jurors are expected to begin deliberating Thursday on whether FTX founder Sam Bankman-Fried is guilty of fraud and other crimes that contributed to the collapse of the crypto exchange. The deliberations cap a nearly monthlong trial in which jurors heard testimony from more than 20 witnesses, including Bankman-Fried. On Thursday morning, a prosecutor is expected … Read more

Ted Pick Is a Math Whiz Among Math Whizzes. He’s the New Morgan Stanley CEO

Oct. 26, 2023 12:48 pm ET A group of Morgan Stanley executives attending a post-workday dinner in London were ready to call it a night. Ted Pick wanted to play a game. The veteran banker, who had organized the outing, challenged his colleagues to beat him at math equations. They began throwing out six-figure numbers … Read more

Bond Rout Drives 10-Year Treasury Yield to 5%

Listen to article (2 minutes) A deepening selloff in the U.S. bond market drove the yield on the 10-year U.S. Treasury note to 5% for the first time in 16 years, marking a milestone that has rattled stocks, lifted mortgage rates and fueled persistent fears of an economic slowdown.  A critical driver of U.S. borrowing … Read more

Oil Prices Don't Need War in the Middle East to Keep Rising

The escalating conflict comes against the backdrop of already tight oil market. Source link