Investors have very little to be grateful for in 2022

A version of this story first appeared in CNN Business’ Before the Bell newsletter. Not a subscriber ? You can register here. New York CNN Business — Americans are getting ready to celebrate Thanksgiving. But investors in the United States (and the rest of the world for that matter) have little to be grateful for … Read more

FTX Collapse: The Latest Updates on the Cryptocurrency Crisis

New Delhi CNN Business — The aftershocks from last week’s massive trillion dollar crypto industry earthquake continued to be felt on Monday. Digital currency prices fell again as the crisis engulfing the market deepened over the weekend. Bitcoin, the biggest crypto in the world, has fallen around 65% so far this year. It was trading … Read more

FTX founder issues public apology as company nears collapse

New York CNN Business — In less than a week, a 30-year-old entrepreneur once hailed as a modern-day JP Morgan saw his digital empire, including billions of his own fortune, evaporate in a deathly spiral that shook the foundations of the trillion dollar crypto industry. . On Thursday, Sam Bankman-Fried posted a mea culpa: “I … Read more

Inflation cools much more than expected in October

Minneapolis CNN Business — Americans and the Federal Reserve received good inflation news on Thursday. The consumer price index rose 7.7% for the year ending in October, a much slower pace of growth than economists of 8% had expected and the lowest annual inflation since January. The stock market soared on the news, with Dow … Read more

Why celebrities are so interested in the unglamorous world of private equity

This story is part of CNN Business’ Nightcap newsletter. To receive it in your inbox, subscribe for free, here. New York CNN Business — Kim Kardashian. You know her because she’s a reality TV and social media star, entrepreneur, and aspiring lawyer. It’s quite a brand. And an increasingly powerful force in business. Now she’s … Read more

Taiwan’s virtual beauty brand struggles to debut on Wall Street

hong kong CNN Business — Taiwan’s latest entrant to Wall Street has had a rough ride since going public a week ago. Shares of Perfect Corp., a software company that allows users to virtually try on makeup or jewelry from brands such as Estée Lauder, LVMH and Shiseido, fell more than 40% off their listing … Read more

Europe now has so much natural gas that prices have just fallen below zero

London CNN Business — Europe has more natural gas than it knows what to do with. So much so, in fact, that spot prices briefly turned negative early in the week. For months, officials have warned of an energy crisis this winter as Russia – once the region’s biggest natural gas supplier – cut supplies … Read more

Grain deal: Wheat and corn prices rise as Russia pulls out

London CNN Business — Wheat and maize prices in global commodity markets rose on Monday after Russia pulled out of a deal that allowed some vital grain exports from Ukraine to pass through the Black Sea despite the war . Wheat futures at the Chicago Board of Trade jumped 5.5% Monday to $8.74 a bushel. … Read more

Goldman to consolidate major business units into three main divisions in sweeping reorganization

Goldman Sachs plans to consolidate its largest businesses into three divisions, undertaking one of the biggest shakeups in the Wall Street firm’s history. Goldman will combine its flagship investment banking and trading businesses into one unit, while merging asset and wealth management into another, people familiar with the matter said. Marcus, the consumer banking arm … Read more

Tom Brady to Matt Damon: Here’s how losses for celebrity-endorsed digital assets pile up

Matt Damon made headlines and drew criticism when he starred in a commercial for cryptocurrency exchange Crypto.com a year ago. Since then, the prices of many cryptocurrencies have dropped significantly. The market capitalization of crypto assets has fallen below $1 trillion from a peak of $3 trillion in November 2021. But Damon isn’t the only … Read more