Retail sales in Germany in October fell by 2.8% compared to the previous month, according to data from the Federal Statistical Agency of the country (Destatis). The rate of decline in the indicator became the maximum since the beginning of the current year. Analysts surveyed by Trading Economics expected a decline in retail sales in […]

The Federal Reserve (Fed) may slow the pace of interest rate hikes following its December meeting, US Central Bank Chairman Jerome Powell said. “The time to moderate the pace of rate hikes may come as early as the next meeting,” he said during a speech at the Brookings Institution on Wednesday. At the same time, […]

As it is known, the so-called “Santa Claus rally” effect happens during the period of growth in the U.S. stock market from the first trading session after Christmas to the second trading session of the New Year, Market Watch writes. No one has yet determined exactly when such a rally should begin and end. Market […]

ECB officials are confident: bitcoin is on the verge of “losing relevance” and its last gasp was already visible on the horizon before the FTX crash, writes Business Insider. Bitcoin was nearing a dead end even before the collapse of Sam Bankman Fried’s FTX, as its technological shortcomings make it a questionable means of payment […]

While to an outside observer the start of 2023 may look great: strong household balance sheets and a stable labor market, the outlook for the future doesn’t look so rosy. And it’s all about companies trying to keep up with strong consumer demand, which in turn will keep inflation above the Fed’s 2% target, which […]

While tech companies hired aggressively during the pandemic as the economy moved online, in recent months they have seen growth slow dramatically as the Federal Reserve’s interest rate hikes have hurt consumers and eroded their profits. The situation today, according to many of America’s prominent business leaders, such as Ilon Musk and Jeff Bezos, does […]

A Wall Street trader spent about $36 million on a bullish bet on options tied to S&P 500 index growth over the next month, Bloomberg writes. In Wednesday’s transaction, someone bought about 20,000 call options tied to S&P 500 growth that expire Dec. 30 with a strike price of 4,175. As the benchmark index jumped […]

In the wake of the spat between Ilon Musk and Apple (NASDAQ:AAPL), the voice of Meta (NASDAQ:META)* CEO Mark Zuckerberg has been heard, speaking at the New York Times DealBook Summit, speaking harshly about the Cupertino-based company and how it controls its app store. “Apple has distinguished itself as the only company that tries to […]

OPEC+ kept the plan to limit oil production amid the introduction of a price ceiling, scooter rental service Whoosh announced the IPO price range – these and other important news for Monday morning, December 5, in our daily review. OPEC+ countries, which includes Russia, decided at a meeting on Sunday to stick to the current […]

In November, EU countries reduced their gas demand by a record 25% compared to the average for the last five years. The drop was explained by measures to reduce dependence on Russian energy resources. According to the ICIS consulting firm, in November the demand for gas in the largest consuming countries – Germany and Italy […]

According to a Sunday statement by Sam Bankman-Fried (NYSE:TWTR), founder and ex-director of bankrupt crypto exchange FTX, he is set to testify before the U.S. House Financial Services Committee this week after he finishes examining and analyzing the events that led to his firm’s collapse, Reuters writes. The U.S. House Financial Services Committee will hold […]

The RTS index fell by 0.87% to 1,097.92 points at the opening of trading on the Moscow Exchange. The previous time the value of the RTS index fell below 1100 points on November 3, that is, more than a month ago. By 10:31 MSC dollar index turned around and grew by 0.50% to 1113 points. […]

This week will be quiet on the economic data front, with US Federal Reserve officials on their traditional vacation before their last monetary policy meeting in 2022. Investors will be watching Friday’s U.S. producer price inflation data for clues on how hawkish the central bank’s stance may be after 4 consecutive sharp rate hikes to […]

Bank of America analysts forecast that Brent crude could rise to $110 per barrel in 2023 amid remaining risks, such as a ceiling on fuel prices from Russia and risks from OPEC members like Iraq and Libya, writes Business Insider. Brent is now around $86 a barrel, which means the upper bound of BofA’s forecast […]

Inflation in Turkey slowed for the first time in a year and a half – in November it fell to 84.39% year-on-year from 85.51% a month earlier, the country’s Statistics Institute reported. The last time prices in Turkey declined in the spring of 2021, the country’s inflation rate was 17.14% in April and 16.59% in […]

According to Goldman Sachs CEO David Solomon, the downturn in the U.S. stock market will continue into 2023, with about a 2 in 3 chance of a recession, Yahoo writes. At a Wall Street Journal board conference, Solomon said he expects the stock market, oil prices and real estate (both commercial and residential) to fall, […]

Rosneft’s IFRS net profit attributable to shareholders amounted to 591 billion rubles in January-September 2022, the negative impact on the figure, particularly in the third quarter, was caused by the transfer of the company’s German assets into external administration of Germany, Rosneft reported. A year earlier, the net profit figure amounted to 696 billion rubles, […]

The head of the world’s largest crypto exchange Binance, Zhangpeng Zhao, who helped expose the insolvency of Sam Bankman-Fried and his company FTX, called him “one of the greatest fraudsters in history” and accused the media and of manipulation, Yahoo writes. Zhao believes that Bankman-Fried is simply trying to avoid jail time, having said in […]