Tsingshan Holding Group said large banks agreed to continue discussing a potential settlement with the Chinese metals producer, whose wrong-way bets led to a dayslong suspension of nickel trading on the London Metal Exchange. JPMorgan Chase JPM 0.99% & Co. and other banks are seeking billions of dollars that Tsingshan owes them for trades the […]
Some of the world’s biggest banks worked over the weekend to resolve a crisis in the nickel market that leaves them on the hook for billions of dollars owed by a Chinese metals giant. JPMorgan Chase JPM -2.25% & Co., Standard Chartered STAN -0.41% PLC and BNP Paribas HER BNPQY -3.09% were among the banks […]
Soroban Capital Partners LP, a $10 billion stock-picking hedge fund in New York, is one of the biggest winners, making at least several hundred million dollars on the trade since February, a person familiar with the matter said. Other winners include New York macro fund Castle Hook Partners and value investor Pilgrim Global. The bet […]
US stocks fell Thursday, as investors weighed up surging US consumer price inflation, a hawkish tilt from the European Central Bank, and stalled Russia-Ukraine negotiations. Oil prices were also rising again. How are stock-index futures trading? The Dow Jones Industrial Average DJIA, -1.37% fell 357 points, or 1.1%, to 32,930. The S&P 500 SPX, -1.56% […]
US stock futures declined, while oil prices rose sharply, as investors monitored developments surrounding Russia’s invasion of Ukraine and awaited fresh inflation figures. Futures for the S&P 500 declined 1% Thursday, while contracts for the tech-focused Nasdaq-100 fell 1.4% and futures for the Dow Jones Industrial Average were 0.6% lower. All three indexes broke a […]
WASHINGTON—The price of bitcoin rose on Wednesday as cryptocurrency advocates cheered President Biden’s executive order directing agencies across the federal government to consider new regulations for digital currencies. The order, titled “Ensuring Responsible Development of Digital Assets,” outlined the risks cryptocurrencies pose to the economy, national security and climate, while also noting their possible benefits. […]
US stocks climbed and oil prices dropped Wednesday, extending a volatile spell as investors track the economic fallout of the war in Ukraine. The S&P 500 rose 1.9%, while the technology-focused Nasdaq Composite Index added 2.3%. The Dow Jones Industrial Average advanced 590 points, gold 1.8%. All three indexes are poised to break a four-session […]
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