Most Adani shares continue losses; founder loses $28 billion in month

Gautam Adani, chairperson of Indian conglomerate Adani Group, at the World Congress of Accountants in Mumbai on Nov. 19, 2022. Founder Gautam Adani, the richest man in Asia and once second only to Elon Musk, fell out of the world’s top five richest to rank seventh on the Bloomberg’s Billionaire Index. Indranil Mukherjee | Afp … Read more

The IMF says fragmentation could cost the global economy up to 7% of GDP

The International Monetary Fund expects the developing world to “fall further behind” if global fragmentation continues. Stephanie Reynolds | AFP | Getty Images The International Monetary Fund said that fragmentation could cost the global economy up to 7% of GDP in a new report. The longer-term cost of trade fragmentation varies from 0.2% of global … Read more

A stablecoin collapse could spill into the US bond market: Academic

The near $1.4 trillion collapse of the crypto market in 2022 didn’t make a dent to traditional assets like stocks or to the real economy. But one academic has warned that the failure of a major stablecoin could have an impact on the US bond market, marking a potential new area that investors need to … Read more

Platinum surged to its best quarter since 2008

The price of platinum has soared as high demand meets low supply. Tomohiro Ohsumi | Bloomberg | Getty Images Platinum posted its best quarter since 2008, as China has scooped up vast stocks of the precious metal. Platinum rose almost 2% on Friday to $1,086 per troy ounce, up more than 26% from the start … Read more

European stocks set to log worst year since 2018

LONDON — European markets are on course for their worst year since 2018 as Russia’s war in Ukraine, high inflation and tightening monetary policy hammered risk assets around the world. The pan-European Stoxx 600 index started the last trading day of 2022 down more than 12% since the turn of the year, its worst performance … Read more

Meat bans and ‘un-Brexit’? One bank’s ‘outrageous’ 2023 predictions

Meat bans, soaring gold prices and Britain voting to ‘un–Brexit’ could be on the cards for 2023, according to Saxo’s Outrageous Predictions. Bloomberg / Contributor / Getty Images Saxo Bank’s “outrageous predictions” for 2023 include a ban on meat production, skyrocketing gold prices and Britain voting to “un-Brexit.” The Danish bank’s annual report, published earlier … Read more

Treasury yields muted as calm returns to bond markets after sell-off

US Treasury yields were muted on Wednesday as global bond markets stabilized following the previous session’s sell-off on the back of a surprise policy shift from the Bank of Japan. The yield on the benchmark 10-year Treasury note was just under a single basis point higher at 3.6935%, while the yield on the 30-year Treasury … Read more

Swiss central bank hikes interest rates by 50 basis points to counter ‘further spread of inflation’

The Swiss National Bank hikes interest rates again. FABRICE COFFRINI / Contributor / Getty Images The Swiss National Bank increased its benchmark interest rate Thursday for the third time this year, taking it to 1%. The central bank said it was looking to counter “increased inflationary pressure and a further spread of inflation” with the … Read more

Hong Kong stocks briefly notch 2%; China reports inflation data in line with expectations

Hong Kong movers: Property, tech stocks rise on reopening optimism CNBC Pro: Wall Street says a recession is coming. One investment pro names her favorite stocks to tough it out Wall Street pros are increasingly sounding the alarm on a looming recession. As economic growth slows and inflation stays higher for longer, how should investors … Read more

New Peru president sworn in, predecessor Castillo arrested

Vice President Dina Boluarte swears in as Peru’s new leader after Congress removes President Pedro Castillo in Lima, Peru on December 07, 2022. Anadolu Agency | Anadolu Agency | Getty Images Peru swore in a new president on Wednesday after a day of political drama that saw leftist leader Pedro Castillo arrested after his ousting … Read more