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  • Jan 14, 2025

Reeves’ Vision for UK Faces Fresh Peril From Market Fallout

(Bloomberg) -- Chancellor of the Exchequer Rachel Reeves will speak in Parliament for the first time on Tuesday since the UK was rocked by market turbulence, one of several potential flash-points for the Labour leadership this week.Most Read from BloombergThese Homes Withstood the LA Fires. Architects Explain WhyA Blueprint for Better Bike LanesReeves’ appearance in the House of Commons is officially to give a statement about the recent trip to China, yet allows opposition parties to quiz her on

  • Jan 14, 2025

Oil shipping rates surge after US sanctions hit availability

SINGAPORE (Reuters) -Supertanker freight rates jumped after the U.S. expanded sanctions on Russia's oil industry, sending traders rushing to book vessels to ship supply from other countries to China and India, shipbrokers and traders said. Chinese and Indian refiners are seeking alternative fuel supplies as they adapt to severe new U.S. sanctions on Russian producers and tankers designed to curb the world No. 2 oil exporter's revenue due to its war in Ukraine. Many of the newly-targeted vessels, part of a so-called shadow fleet that seeks to avoid Western restrictions, have been used to ship oil to India and China, which snapped up cheap Russian supply that was banned in Europe following Moscow's invasion of Ukraine.

  • Jan 14, 2025

Traders Brace for S&P 500’s Busiest CPI Day Since March 2023

(Bloomberg) -- Options traders whipsawed by the stock market’s recent gyrations are getting anxious that more bouts of volatility may arrive in the coming days, starting with Wednesday’s report on consumer prices.Most Read from BloombergThese Homes Withstood the LA Fires. Architects Explain WhyA Blueprint for Better Bike LanesSoaring bond yields and robust jobs data have put extra focus on the next consumer price index report. The S&P 500 Index is expected to move 1% in either direction on Jan.

  • Jan 14, 2025

The Best-Performing Cryptocurrency of 2024 (Hint: It Wasn't Bitcoin)

For much of the past decade, Bitcoin (CRYPTO: BTC) has been the top-performing asset in the world. Bitcoin was up 125% for the year, which trounced the performance of the Nasdaq (up 30%), gold (up 27%), and the S&P 500 (up 24%). Based on the strength of that performance, Virtuals Protocol ended 2024 as the 33rd-largest cryptocurrency in the world, with a nearly $4 billion market cap.

  • Jan 13, 2025

Central Europe's banks can withstand car sector turmoil, S&P says

Turmoil in Europe's car sector could hit the central European economy and hurt banks' asset quality, S&P Global said on Tuesday, although it added that lenders were strong enough to withstand stress in their automotive portfolios. Automakers across Europe have announced plant closures and big layoffs as they struggle with weak demand, high costs, competition from China and a slower-than-expected transition to electric vehicles. The sector is a mainstay of central Europe's economic growth, accounting for 5% to 10% of the region's gross domestic product and 5% of its employment, according to S&P.

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