The fortune of the richest man in Asia, Indian billionaire Gautam Adani, shrank by $5.5 billion on Wednesday, writes Business Insider. This comes after New York-based short-seller Hindenburg Research said that Adani’s conglomerate was involved in fraud and market manipulation: the Adani Group “engaged in a brazen scheme of stock manipulation and accounting fraud for […]

Thanks to soaring oil prices last year, Exxon Mobil Corp (NYSE:XOM), Chevron Corp (NYSE:CVX), Shell (LON:SHEL), TotalEnergies (NYSE:TTE) and BP (LON:BP) collectively earned nearly $200 billion, but concerns over slowing economic growth, falling natural gas prices, cost inflation and uncertainty over renewed oil demand in China are clouding the outlook in 2023, Bloomberg writes, In […]

Bloomberg named possible price caps for oil products from Russia, and Russian cryptocurrency exchange clients started buying data to bypass blocking – these and other important news for Friday morning, January 27, in our daily review. The European Union is studying the possibility of setting a ceiling on the price of Russian oil products, which […]

Intel Corp (NASDAQ:INTC). posted a net loss of $664 million, or $0.16 per share, for the October-December quarter, compared to net income of $4.62 billion, or $1.13 per share, for the fourth quarter of the previous year. Earnings excluding restructuring charges and other one-time factors came in at $0.1 per share, with a consensus forecast […]

U.S. Visa Inc (NYSE:V) increased net income in the first quarter of fiscal 2023 ( ended December 31) by 6% to $4.18 billion, or $1.99 per share, up from $3.96 billion, or $1.83 per share, in the comparable period a year earlier. Earnings excluding one-time factors rose 21% to $2.18 per share, the company said […]

The EU authorities are discussing a new sanctions package that may be introduced against Belarus for supporting Russia’s actions in Ukraine, Bloomberg has read the documents. If the sanctions are approved, Belarus will be subject to an extension of the restrictive measures already taken against Russia. In particular, we are talking about: A ban on […]

Oil prices were able to return to growth on Thursday. Support was provided by the publication of data on the U.S. economy, where GDP growth in the fourth quarter exceeded analysts’ forecasts – 2.9% against the expected 2.6%. A closer look at the data is not flawed, but the market saw in them a positive […]

The recent sell-off in the shares of Asia’s richest man, Gautam Adani, intensified at the end of the week, erasing nearly $45 billion of Adani Enterprises Ltd’s market value in less than 2 sessions as Adani tries to contain the fallout from a critical report by U.S. short seller Hindenburg Research, Bloomberg writes. On Jan. […]

Natural gas futures prices declined during the European session on Friday. At the New York Mercantile Exchange, natural gas futures for delivery in March are trading at $2.79 per million Btu, down 2.11% at the time of writing this commentary. The session low was $/mmBtu. At the time of writing, natural gas found support at […]

Export duty on wheat from the Russian Federation from February 1, 2023 will increase to 4 thousand 365.3 rubles from 4 thousand 283.2 rubles per ton, the Ministry of Agriculture reports. The increase will amount to 1.9%. Duty on barley will increase to 3 thousand 174.3 rubles from 3 thousand 083.7 rubles, on corn – […]

Oil prices rose in parallel with the rally in the rest of the market as optimism about oil demand from China, where businesses have started to open, outweighed concerns about an economic slowdown, Bloomberg wrote. West Texas Intermediate futures traded above $81 a barrel after Thursday’s close with a 1.1 percent gain. Many analysts see […]

Amazon is preparing to launch its own NFT platform this spring, Blockworks writes, citing its sources. The project is still in the development stage, but the company is likely to unveil its plans as early as April, the journalists said. The US online retailer is considering launching blockchain games in which participants will be able […]

The Central Bank of the Netherlands fined the crypto exchange Coinbase for $3.6 million for non-compliance: it did not register its crypto services for customers in the Netherlands, writes Business Insider. Between November 2020 and August 2022, the company made do without proper registration under the Dutch Anti-Money Laundering and Counter-Terrorist Financing Act to operate […]

Intel Corp. issued one of the bleakest quarterly outlooks in its history after a slump in the personal computer sector caused its shares to plunge and stalled efforts to revitalize its business, Bloomberg writes. The company warned of unexpected losses in the current period and a sales range that fell short of analysts’ estimates by […]

The EU Council has extended for six months the sanctions against Russia imposed because of the events in Ukraine, according to a statement published on the organization’s website. “The Council today decided to extend until July 31, 2023 restrictive measures directed against specific sectors of the economy of the Russian Federation,” the statement reads. The […]