Hong Kong’s stock market hit hard by the market rout

Hong Kong’s stock market hit hard by the market rout

Hong Kong’s stock market has underperformed this year – but its exchange operator has made it even worse. The shares in Hong Kong Exchanges & Clearing Ltd. is down 43% since the start of the year, even after a rally so far in November. That’s a bigger drop than Hong Kong’s benchmark Hang Seng index, … Read more

Crypto Exchange Binance to Acquire Rival FTX

Crypto Exchange Binance to Acquire Rival FTX

Cryptocurrency exchange FTX, just months removed from looking like a shining survivor in a struggling industry, succumbed to its own sudden liquidity crisis on Tuesday and was taken over by rival Binance. The deal signals a shift in power in the crypto world, which has been decimated by rising interest rates and investors retreating from … Read more

Tensions Between Crypto Giants FTX, Binance Are Spilling Public

Tensions Between Crypto Giants FTX, Binance Are Spilling Public

Tensions between two of the richest men in cryptocurrency erupted into open warfare on Twitter over the weekend, upsetting much of the digital currency world. On the one hand is Sam Bankman-Fried, the founder of crypto trading firm Alameda Research and FTX, a crypto exchange that has grown in size and recognition over the past … Read more

Why the Powerball Jackpot Jumped to a Record $1.9 Billion

Why the Powerball Jackpot Jumped to a Record $1.9 Billion

A lucky ticket in Monday night’s Powerball drawing could win a $1.9 billion jackpot, the largest lottery prize in American history. If no one picked the right numbers, the game would set another record: 40 consecutive draws without a winner. Big jackpots have become more common and harder to win in recent years. The Multi-State … Read more

In bond investments, ‘return’ can be calculated in many ways

In bond investments, ‘return’ can be calculated in many ways

As central bankers raise interest rates to combat inflationary pressures, it has created a sea of ​​red ink for bond investors. It also means that interest rates are back in the spotlight as investors look for new earning potential in a battered market. “When interest rates were very, very low, people looked to bond funds … Read more

Coinbase posts third straight losing quarter amid crypto rout

Coinbase posts third straight losing quarter amid crypto rout

Coinbase Global Inc. COIN -8.09% had a loss of $2.43 per diluted stock in the third quarter, compared with earnings of $1.62 a share a year ago, as its main revenue driver — crypto trading — remains depressed in the wake of the market crash. The second-largest crypto exchange lost $545 million — its third … Read more

Supply-Chain Tech Provider Project44 Delays Potential Public Offering

Supply-Chain Tech Provider Project44 Delays Potential Public Offering

Supply chain technology provider project44 has postponed plans for a possible public offering amid uncertainty in markets, and is instead turning to more venture capital investments to expand its company’s tracking of goods through global transportation networks. Chicago-based project44, one of a number of supply chain software startups that have drawn billions of dollars in … Read more

Robinhood cuts losses after falling transaction revenue

Robinhood cuts losses after falling transaction revenue

Net loss at Robinhood HOOD -4.36% Markets fell in the third quarter after a steep decline in costs helped offset falling revenue and lower user numbers. The online brokerage reported third-quarter revenue of $361 million, down 1% year-over-year and a seventh straight quarterly decline. Rising interest rates helped lift quarterly net interest income to $128 … Read more

Wall Street Firm Makes $1.8 Billion Bet on Forest Carbon Offsets

Wall Street Firm Makes $1.8 Billion Bet on Forest Carbon Offsets

PISGAH, Md.—A major player in the credit markets has made one of the biggest U.S. timber purchases in years, making Wall Street’s biggest bet yet on forest carbon markets. The properties spread across 17 eastern states and will be overseen by a unit of environmental marketing firm Anew Climate LLC. Oak Hill joined Anew’s subsidiary … Read more