Author: FX
SBF’s new charges, Shapella’s fork date and emojis as financial advice: Hodler’s Digest, Feb. 19-25 Unsealed superseding indictment against Sam Bankman-Fried includes 12 criminal chargesFormer FTX CEO Sam Bankman-Fried (SBF) was charged on four new criminal counts by a federal judge presiding over his case. According to a superseding indictment, there are now 12 criminal charges against Bankman-Fried, including eight conspiracy charges related to fraud as well as four charges of wire fraud and securities fraud. In an attempt to possibly modify his bail terms, Bankman-Fried’s attorneys will hire a security expert to assist the federal judge overseeing his fraud…
MF3d A new report examining innovation found that among the 100 most innovative companies, the largest number — 18 — were in the pharmaceutical industry. Large pharmas including Bristol-Myers Squibb (NYSE:BMY), Eli Lilly (LLY), Johnson & Johnson (NYSE:JNJ), Novartis (NVS), Pfizer (NYSE:PFE), Roche (OTCQX:RHHBY), and Sanofi (SNY) made the list, compiled by LexisNexis. Among large biotechs, Amgen (AMGN), Gilead Sciences (NASDAQ:GILD), Moderna (MRNA), and Regeneron (REGN) made the cut. Alnylam Pharmaceuticals (ALNY), which is focused on developing RNA interference (RNAi) therapeutics, and Jazz Pharmaceuticals (JAZZ), known for medicines for sleep disorders and epilepsy, were new additions in 2023. The LexisNexis…
Sundry Photography The average size of new apartments in the U.S. registered the largest Y/Y decline in 2022 as more studios and one-bedroom units entered the market, according to rental portal RentCafe. Average apartment size in 2022 stood at 887 sq. ft. vs. 917 sq. ft. a year earlier, the portal said, using data from RentCafe’s sister company Yardi Matrix. That marks a 54 sq.-ft. drop from 10 years ago. This follows two straight years of increases in average apartment size, during 2020 and 2021, when developers adjusted floorplans to accommodate home offices amid the pandemic. “With one of the…
mikulas1 The S&P Materials sector index dropped -0.13% this week, and the Materials Select Sector SPDR ETF (XLB) -0.14%. The spotlight this week was dominated by economic data and concerns regarding the Federal Reserve’s path forward on rate hikes. Gold futures finished Thursday at their lowest close so far this year, a day after minutes of the Federal Reserve’s latest policy meeting showed policymakers plan to push interest rates higher. Front-month Comex gold (XAUUSD:CUR) closed -1.62% at $1,810.89/oz, while February silver (XAGUDS:CUR) ended -4.32% to $20.75/oz. Meanwhile, iron ore futures (SCO:COM) were up +3.14% for the week and surged past…
The Financial Action Task Force, or FATF, has reported that its delegates have come to an agreement on an action plan “to drive timely global implementation” of global standards on cryptocurrencies. In a Feb. 24 publication, the FATF says the plenary for the financial watchdog — consisting of delegates from more than 200 jurisdictions — met in Paris and reached a consensus on a roadmap aimed at strengthening the “implementation of FATF Standards on virtual assets and virtual asset service providers.” The task force says that in 2024, it will report on how FATF members have moved forward on implementing…
Justin Sullivan/Getty Images News Interest in companies involved in artificial intelligence continued to make more headlines this week, with investors keying in especially on chipmaker Nvidia (NASDAQ:NVDA). No less than Nvidia (NVDA) Chief Executive Jensen Huang weighed in on AI by saying that artificial intelligence is at “an inflection point” and set to be one of Nvidia’s (NVDA) leading sources of revenue and growth in the coming year. The fact that Huang made his comments during a conference call to discuss Nvidia’s (NVDA) fourth-quarter results and outlook wasn’t lost on Wall Street. Investors sent Nvidia’s (NVDA) shares up by 14%…
May Lim/iStock via Getty Images The FTSE Nareit All Equity REITs continue to fall for the third week, ending 3.72% lower on a weekly basis, compared to the broader real estate index, which fell 3.74%, and the S&P 500 index, which decreased by 2.67%. FTSE Nareit All Equity REITs are trading lower over the past two weeks on rising inflation fear and Fed announcement. Infrastructure REITs dragged the equity REITs index down this week, with the subsector losing ~7% of its value. Mortgage REITs fell by 3.95% from last week. Telecom infrastructure REIT Uniti Group (UNIT) was down after posting…
© Reuters. Flamingos fly over the remains of the city of Miramar de Ansenuza, flooded in the 70’s, and now uncovered by a prolongued drought affecting the Mar Chiquita lagoon, in Cordoba, Argentina February 20, 2023. REUTERS/Sebastian Toba By Jorgelina do Rosario and Jorge Otaola LONDON/BUENOS AIRES (Reuters) – Argentina’s government is in final talks with International Monetary Fund officials to ease foreign exchange reserves targets for 2023 under the country’s $44 billion program, two sources close to the matter told Reuters. The move comes as the South American commodities exporter is facing the worst drought in 60 years, which…
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3/3 © Reuters. U.S. Treasury Secretary Janet Yellen looks on as she holds a roundtable with India’s technology leaders on the sidelines of G20 finance ministers’ meeting on the outskirts of Bengaluru, India, February 25, 2023. REUTERS/Samuel Rajkumar 2/3 By Aftab Ahmed, Shivangi Acharya and Sarita Chaganti Singh BENGALURU, India (Reuters) – Finance chiefs of the world’s largest economies strongly condemned Moscow for its war on Ukraine on Saturday, with only China and Russia itself declining to sign a joint statement. India, which as chair of the Group of Twenty (G20) economies was hosting a meeting in the city of…