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

Insurance companies are facing a sharp increase in reinsurance prices

Insurance companies are facing a sharp increase in reinsurance prices

Hurricane season is almost over, although another storm is potentially headed for Florida. For insurance companies, the worries do not end on November 30. The insurance companies are in the middle of negotiations with reinsurers who are trying to raise interest rates by 10% to 30%. Almost two-thirds of US property catastrophe coverage is renewed … Read more

Private-equity giants are the latest targets of the SEC’s record-breaking probes

Private-equity giants are the latest targets of the SEC’s record-breaking probes

WASHINGTON—Wall Street’s private equity giants are the latest companies to face regulatory probes into dealmakers’ use of prohibited communications channels. Apollo Global Management Inc., KKR KKR 0.23% & Co. Inc., and Carlyle CG -7.69% Group Inc. revealed on Tuesday that it is facing investigations into whether its employees used messaging apps such as WhatsApp to … 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

Justice Department announces seizure of Bitcoin, once valued at $3.36 billion

Justice Department announces seizure of Bitcoin, once valued at $3.36 billion

The Justice Department said Monday it had seized cryptocurrency once worth $3.36 billion from a Georgia man who pleaded guilty to stealing bitcoin from the Silk Road online marketplace. The seizure of cryptocurrency, which took place in November 2021 and had not been made public, is the second largest in the history of the Department … 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

More professionals have to have another job due to inflation

More professionals have to have another job due to inflation

As the holidays approach and America’s full-time workers feel squeezed by inflation, some are turning to another job to supplement their income. The October jobs report shows that the number of Americans working part-time jobs in addition to their full-time jobs rose 6% year-over-year to 4.5 million people, according to Labor Department statistics. With unemployment … Read more

Walgreens unit close to about $9 billion deals in summit health

Walgreens unit close to about $9 billion deals in summit health

A unit of Walgreens Boots Alliance Inc. WBA 3.72% is nearing a deal to combine with a major owner of medical practices and urgent care centers in a transaction valued at about $9 billion including debt, according to people familiar with the matter, the latest in a series of acquisitions by large consumer-focused companies that … Read more

The best places to get income in the bond market now

The best places to get income in the bond market now

Bonds have performed so poorly this year that many investors are probably wondering what the point of owning any is. People usually buy fixed-income investments to add stability to portfolios in addition to collecting regular income — but that strategy has backfired this year. Funds that track the U.S. bond market have fallen about 16%, … Read more