FTX Bankruptcy Filing Lists $1.4 Billion Cash, Lower Headcount
The bankrupt FTX group of crypto companies held $1.43 billion in cash at the end of last year and saw headcount drop almost 40%, according to an interim financial update.
Bloomberg Business
China Urges Common Ground Ahead of Visit by Top US Diplomat
China and the US must find common ground for the sake of the global economic recovery, the Communist Party’s flagship newspaper said, signaling Beijing’s continued desire to mend ties ahead of an expected visit by US Secretary of State Antony Blinken.
China’s Reopening Boost to Commodities Prices Is Losing Power
The China reopening trade for commodities is showing signs of flagging, as weak demand offsets speculative bets that the end of Covid Zero will reignite growth.
Gundlach Suspects Fed Will Push Back Against Pivot Narrative
The Federal Reserve will likely push back against suggestions it will soon halt interest-rate increases and then start to ease policy by year’s end, according to DoubleLine Capital LP Chief Investment Officer Jeffrey Gundlach.
Wanda Seeking Loan for Repaying $350 Million March Bond, Sources Say
Dalian Wanda Group Co. is in discussions for an offshore loan to pay off a $350 million dollar bond maturing next month, according to people familiar with the matter.
Pubs Survived the Pandemic, But Now the Selloff Is Starting
Stonegate Pub Co. spent about £1.3 billion ($1.6 billion) buying rival Ei Group just before the pandemic, becoming Britain’s biggest pub group.
Wall Street Divided on Turkey as Goldman, JPMorgan See Rate Hike
Economists at some of the biggest Wall Street banks are divided over how long Turkey can sustain its extraordinarily low interest rates, with JPMorgan Chase & Co. and Goldman Sachs Group Inc. now expecting a sharp policy reversal soon after elections slated for May.
Hynix Posts Record Loss on Slump in Memory-Chip Prices
SK Hynix Inc. stuck with plans to halve 2023 capital spending after reporting its biggest quarterly loss on record, hammered by a historic chip industry slump.
Foreign Investors Pull Out of India Stocks as Adani Saga Unfurls
Foreign investors dumped the most Indian shares in two days since June as short seller Hindenburg Research’s scathing report on Adani Group roiled market sentiment.
Global Health Craze for Coconut Oil Spurs Philippine Output Push
The Philippines, which vies with Indonesia as the top producer of coconut oil, is embarking on an ambitious program to boost output, betting on booming demand for the commodity used in food, lipsticks and biofuels.
