FX swap debt a $80 trillion ‘blind spot’ global regulator says

FX swap debt a  trillion ‘blind spot’ global regulator says

LONDON, Dec 5 (Reuters) – Pension funds and other ‘non-bank’ financial firms have more than $80 trillion of hidden, off-balance sheet dollar debt in FX swaps, the Bank for International Settlements (BIS) said. The BIS, dubbed the central bank to the world’s central banks, also said in its latest quarterly report that 2022’s market upheaval … Read more

Trimming oil stock after climbing 50% in 3 months – CNBC

Trimming oil stock after climbing 50% in 3 months – CNBC

Trimming oil stock after climbing 50% in 3 months  CNBC Energy sector ‘could absolutely do well again’ in 2023, says analyst  Yahoo Finance Good time to buy oil and gas stocks: David Rosenberg  Financial Post 2 TSX Energy Stocks That Could Break Through the Roof in December 2022  The Motley Fool Canada View Full Coverage on Google News

Fed to Weigh Higher Interest Rates Next Year While Slowing Rises This Month

Fed to Weigh Higher Interest Rates Next Year While Slowing Rises This Month

Federal Reserve officials have signaled plans to raise their benchmark interest rate by 0.5 percentage point at their meeting next week, but elevated wage pressures could lead them to continue lifting it to higher levels than investors currently expect. They have raised rates this year at the fastest pace since the early 1980s, including by … Read more

Stock futures fall ahead of more economic data

Stock futures fall ahead of more economic data

U.S. stocks sunk Monday ahead of another wave of economic data out this week. The S&P 500 (^GSPC) moved lower by 0.9% in early morning trading, while the Dow Jones Industrial Average (^DJI) down by 0.8%, or 270 points. The technology-heavy Nasdaq Composite (^IXIC) fell by 0.9%. Stocks finished mixed on Friday as investors digested … Read more

Dow Jones Sells Off 350 Points After Economic Data; Tesla Skids On Plans To Cut Production

Dow Jones Sells Off 350 Points After Economic Data; Tesla Skids On Plans To Cut Production

The Dow Jones Industrial Average sold off 350 points Monday after a host of November economic data, including the PMI composite, the ISM services index and factory orders. China stocks resumed their rebound on a shift in domestic Covid policy. Tesla stock skidded more than 5% after Bloomberg reported that the electric-vehicle maker plans to … Read more

European markets, stocks, data, news and earnings

European markets, stocks, data, news and earnings

Stocks on the move: SBB up 8%, Rational down 7% Swedish real estate company SBB saw its shares rise 8% by mid-afternoon to lead the Stoxx 600 after presenting its pro forma earning capacity for 2023 following the divestment of shares of education unit EduCo. At the bottom of the index, German kitchen appliance manufacturer Rational … Read more

DR Congo: Miner Glencore pays $180m in latest corruption case – BBC

DR Congo: Miner Glencore pays 0m in latest corruption case – BBC

DR Congo: Miner Glencore pays $180m in latest corruption case  BBC Glencore to pay DR Congo $180mn to cover corruption claims  Financial Times Glencore Agrees to Pay $180 Million to Cover Claims in Congo  Bloomberg Glencore pays out $180m to DR Congo after admitting corruption  The Times Congo agreed to lobby for US sanctions on Gertler to be lifted, … Read more

Sam Bankman-Fried could face years in prison over FTX meltdown

Sam Bankman-Fried could face years in prison over FTX meltdown

FTX CEO Sam Bankman-Fried attends a press conference at the FTX Arena in downtown Miami on Friday, June 4, 2021. Matias J. Ocner | Miami Herald | Tribune News Service | Getty Images Sam Bankman-Fried, the disgraced former CEO of FTX — the bankrupt cryptocurrency exchange that was worth $32 billion a few weeks ago … Read more