DIRS.INFO The most relevant business & tech news

☆ From TerraUSD's meltdown to the collapse of a $32 billion crypto empire, here is a full timeline of the crypto market's year in 2022
▼ + stars: | 2022-12-31 | by ( Morgan Chittum | ) www.businessinsider.com time to read: +7 min

Insider spoke with several crypto experts and charted the most influential events for the industry in 2022. The firm filed for insolvency in June, leading to widespread contagion. A month later, the firm filed for bankruptcy, listing $4.31 billion in assets and $5.5 billion in liabilities. The world's largest asset manager agreed to offer clients access to Coinbase's crypto trading and custody services. Radix's Epstein warned the industry must brace for more FTX contagion, but predicted crypto markets will rebound eventually.

☆ Indian rupee ends 2022 as worst-performing Asian currency
▼ + stars: | 2022-12-30 | by ( Anushka Trivedi | ) www.reuters.com time to read: +2 min

MUMBAI, Dec 30 (Reuters) - The Indian rupee ended 2022 as the worst-performing Asian currency with a fall of 11.3%, its biggest annual decline since 2013, as the dollar rocketed on the U.S. Federal Reserve's aggressive monetary policy stance to tame inflation. Most traders and analysts expect the currency to move between a tight 81.50-83.50 range in the first quarter. Equity inflows would be a key metric to watch for the rupee for foreign investors as well, analysts said. But considering several uncertainties heading into 2023, such as tight monetary policy conditions, likely recession in some economies and an ongoing geopolitical conflict, gauging the direction of share markets had become tough, they added. If we get a selloff in Indian shares, I'll be less optimistic on the rupee," said Christopher Wong, FX strategist at OCBC Bank.

☆ Jobs report hangs over markets in first week of new year
▼ + stars: | 2022-12-30 | by ( Patti Domm | In | ) www.cnbc.com time to read: +5 min

The first week of the new year will be a busy one with December's jobs report looming Friday, and many investors may be looking for ways to fix up their portfolios after 2022's battering. What to watch Friday's jobs report is one of two big events on the market calendar in the coming week. The jobs report is very important because it is the final employment report the Fed will consider before its next meeting, Feb. 1. For all years since 1945, the S & P 500 has averaged an 8.6% gain and was up 70% of the time. The worst major S & P industry sector of 2022 was communications services, down 40.4% as of Thursday's close.

☆ India's Lotus Chocolate rises 5% on selling majority stake to Reliance Retail
▼ + stars: | 2022-12-30 | by ( ) www.reuters.com time to read: +1 min

BENGALURU, Dec 30 (Reuters) - Shares of Lotus Chocolate Co (LOTU.BO) rose 5% on Friday, a day after a unit of Reliance Retail Ventures agreed to buy a majority stake in the Indian chocolate maker for 740 million rupees ($8.94 million). Reliance Consumer Products Limited (RCPL), the fast-moving consumer goods arm of Reliance Retail, will acquire a 51% stake from promoters at 113 rupees a share and will also subscribe to some non-noncumulative redeemable preference shares. RCPL would also make an open offer to acquire 26% from public shareholders of Lotus. Reliance Industries (RELI.NS), led by Indian billionaire Mukesh Ambani, has diversified from its mainstay oil-to-chemical business with a strong focus on retail and telecom. ($1 = 82.7580 Indian rupees)Reporting by Nallur Sethuraman in Bengaluru; Editing by Eileen SorengOur Standards: The Thomson Reuters Trust Principles.

All the major S&P 500 sector indexes rose, with consumer discretionary (.SPLRCD) and technology (.SPLRCT) leading the pack with a near 3% rise. The Fed's aggressive rate hikes have hammered equities this year, with the benchmark S&P 500 (.SPX) shedding 19.3% and the tech-heavy Nasdaq tumbling nearly 33%. The CBOE Volatility index (.VIX), known as Wall Street's "fear gauge", slipped, signaling an easing in investor anxiety. Tesla shares (TSLA.O) rose 8.3% after Chief Executive Elon Musk told staff they should not be "bothered by stock market craziness". The S&P index recorded no new 52-week highs and no new lows, while the Nasdaq recorded 40 new highs and 117 new lows.

☆ Indian shares fall as China COVID surge dampens sentiment
▼ + stars: | 2022-12-29 | by ( ) www.reuters.com time to read: +2 min

BENGALURU, Dec 29 (Reuters) - Indian shares fell on Thursday, dragged by broad-based declines, as a surge in COVID cases in China dampened optimism generated by the reopening of the world's second-largest economy. The Nifty 50 index (.NSEI) was down 0.58% at 18,017.85, as of 11:27 a.m. IST, and the S&P BSE Sensex (.BSESN) fell 0.54% to 60,578.03. Forty-five of the Nifty 50 constituents fell, with Tata Consumer (TACN.NS), Tata Motors (TAMO.NS), Grasim (GRAS.NS), Ultratech Cement (ULTC.NS), HDFC (HDFC.NS) and Hindalco Industries (HALC.NS) losing over 1.25%. Several countries, including the United States and India, have made COVID tests mandatory for travellers from China. The stock was the top gainer in Nifty 50 index.

☆ 11 retinol and retinoid products for acne, wrinkles and more
▼ + stars: | 2022-12-28 | by ( Morgan Greenwald | Morgan Greenwald Is A Senior Editor For Select On Nbc News. | ) www.nbcnews.com time to read: +16 min

SKIP AHEAD Retinol and retinoid products | Retinol vs. retinoid | How to use retinol | What are the potential side effects of retinol? The serum contains time-released 1.5% retinol — which is on the higher side for retinol products — as well as vitamins C and E and squalane to moisturize the skin, according to the brand. Since retinoid products speeds up skin cell turnover, it can leave your skin feeling and looking dry, red and irritated. Greenwald has tried dozens of skin care products and brands over the years, including retinol products. Based on their guidance and recommendations, Greenwald reviewed the features and ingredients of highly rated retinoid products from brands like Neutrogena, Skinceuticals, Peter Thomas Roth, The Ordinary and more.

☆ Watch CNBC's full interview with Jefferies' David Zervos and RBC Capital Markets' Amy Wu Silverman
▼ + stars: | 2022-12-28 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWatch CNBC's full interview with Jefferies' David Zervos and RBC Capital Markets' Amy Wu SilvermanDavid Zervos, Jefferies chief market strategist, and Amy Wu Silverman, head of derivatives strategy at RBC Capital Markets, join 'Squawk on the Street' to discuss option market positioning for the year ahead, macroeconomic influences in 2023, and more.

☆ Inflation tends to be good for nominal asset valuations and earnings, says Jefferies' David Zervos
▼ + stars: | 2022-12-28 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailInflation tends to be good for nominal asset valuations and earnings, says Jefferies' David ZervosDavid Zervos, Jefferies chief market strategist, and Amy Wu Silverman, head of derivatives strategy at RBC Capital Markets, join 'Squawk on the Street' to discuss option market positioning for the year ahead, macroeconomic influences in 2023, and more.

☆ These top deputies of Sam Bankman-Fried were former regulators who tried to expand FTX's reach in Washington, report says
▼ + stars: | 2022-12-27 | by ( Brian Evans | ) www.businessinsider.com time to read: +3 min

Some of Sam Bankman-Fried's top advisers were former officials at the CFTC and SEC, according to the LA Times. And in August 2021, Wetjen requested a meeting with CFTC Chairman Rostin Behnam and his chief of staff. "Reaching out to seek some time to discuss with you a LedgerX matter of considerable urgency," Wetjen wrote to Behnam. Behnam was forthright about his meeting with Bankman-Fried when asked on December 1 by the Senate Agriculture Committee, and said the meeting was related to FTX's clearinghouse application. Bankman-Fried."

NEW DELHI, Dec 27 (Reuters) - India is planning a $2 billion incentive programme for the green hydrogen industry, three sources told Reuters, in a bid to cut emissions and become a major export player in the field. The United States and the European Union have already approved incentives worth billions of dollars for green hydrogen projects. GREEN AMMONIA, TOOThe Indian government expects industry to invest 8 trillion rupees in green hydrogen and its derivative green ammonia by 2030, said the industry manager and another government official. The green hydrogen proposal is likely to be called "Strategic Intervention for Green Hydrogen Transition (SIGHT)" and will be split into 45 billion rupees for electrolyser manufacturing for five years and the 135 billion rupees for green hydrogen and green ammonia production for three years, the manager and second official said. The incentive for making green hydrogen is likely to be 50 rupees per kg for three years, they said.

☆ Crypto exchanges simply aren't following the rules, and it isn't a lack of regulation that is the problem with the market, former CFTC chair says
▼ + stars: | 2022-12-23 | by ( Jennifer Sor | ) www.businessinsider.com time to read: +2 min

A problem with crypto is that many exchanges simply aren't following the rules, according to the former CFTC chief. Timothy Massad noted that many exchanges weren't registering with the SEC and claiming that tokens were commodities, not securities. That reluctance to follow rules that protect clients is among the biggest risks in the crypto space, he said. But many crypto exchanges just aren't registered with the regulator and are claiming that crypto tokens aren't securities, though SEC chief Gary Gensler has said that they are. Many crypto exchanges have claimed that cryptocurrencies are commodities, Massad said, which places them in a regulatory loophole, as there is no federal oversight over the commodities spot market.

☆ Crypto Giant Binance Offers Little Transparency After FTX Collapse
▼ + stars: | 2022-12-21 | by ( Patricia Kowsmann | Caitlin Ostroff | ) www.wsj.com time to read: 1 min

Binance founder Changpeng Zhao says the crypto exchange has taken no loans and is profitable. The collapse of the crypto exchange FTX has triggered calls for transparency in the industry. To many investors, the industry’s biggest player, Binance, remains a black box. Crypto exchange Binance processes more transactions than most of its rivals combined, accounting for roughly half of crypto spot trading and two-thirds of derivatives trading, according to the research firm CryptoCompare.

The implications of the world's most dovish central bank turning hawkish are too big to ignore. Japan's net international investment position, the difference between the stock of assets it holds overseas and stock of Japanese assets held by foreigners, is more than $3 trillion. And with Japan's portfolio investment assets and liabilities totaling $7.3 trillion, big yen moves could spill over to global leverage, hedging and derivatives exposures. As Washington-based consultant and former World Bank economist Philip Suttle notes, Kuroda can justifiably claim to have ended deflation. Over his 10-year tenure as BOJ governor, consumer prices have risen an average 0.77% year-on-year, compared with average 0.13% decline in the decade before.

☆ Australian stock exchange's blockchain failure burns market trust
▼ + stars: | 2022-12-20 | by ( Byron Kaye | ) www.reuters.com time to read: +11 min

That 96% of that software is working," Hogben told a Stockbrokers and Investment Advisers Association conference, in footage seen by Reuters. More than a dozen brokers, other market participants and people directly involved in the blockchain project told Reuters the failure had shaken trust in the Australian exchange operator. After New York startup Digital Asset Holdings showed ASX executives a test transaction on its blockchain software, ASX in early 2016 signed the little-known company to begin exploratory work on an overhaul. From an initial plan to run about 12 of CHESS's 400 data transfers per transaction on blockchain, ASX decided the new system would include all 400 transfers, the person said. Its spokesperson told Reuters there was "no off-the-shelf solution available to meet the needs of the Australian market".

☆ These beaten up, tax-loss victims could turn out to be 'gift boxes' for patient investors
▼ + stars: | 2022-12-20 | by ( Patti Domm | In | ) www.cnbc.com time to read: +3 min

Tax-loss selling has hit some stocks especially hard this year, so Evercore ISI recommends picking through those companies for the ones with the right attributes that will turn them into "gifts" for patient, long term investors. "Stocks which have endured historic tax-loss selling pressure yet have favorable earnings, short interest and price momentum profiles headed into the New Year could prove to be `gifts' for patient long term investors," he wrote in a note. While tax-loss selling will continue into the holidays, Emanuel says opportunities are already emerging. They also have higher than normal short interest, with short interest in the upper half of their two-year ranges. Emanuel said the higher earnings revisions in these stocks contrast with his expectations that earnings will broadly decline 7% in 2023.

☆ Alternative funds went gangbusters in 2022. How to find out if they’re right for you
▼ + stars: | 2022-12-20 | by ( Darla Mercado | Cfp | ) www.cnbc.com time to read: +4 min

Even the most diversified portfolios took their lumps in 2022, but one corner of the market is ending the year with a bang: liquid alternative funds. Major winners in the liquid alts space include the AQR Managed Futures Strategy HV Fund (QMHIX) , which popped 36% in 2022. The Arrow Managed Futures Strategy Fund (MFTFX) jumped 21%, while the AGFiQ U.S. Market Neutral Anti-Beta Fund (BTAL) leapt 18% this year. Other alternative funds aim to manage downside risk with options, but also provide an opportunity for appreciation. Consider how the Arrow Managed Futures Strategy Fund is up 21% in 2022, but was basically flat last year.

The article was one of a series of reports this year by the news agency on Binance's financial compliance and relationship with regulators across the world. Reuters also asked representatives of the local Binance units and affiliates about their relationship with the main Binance exchange. In Italy, Binance's public corporate filings detail just the unit's capital base and its ownership by a separate Binance company in Ireland. The Italian company, Binance Italy S.R.L., has its listed address in a block of shops and apartments in the southern city of Lecce. Just two of the Binance units analysed by Reuters offer more substantial details in their filings.

☆ Berlusconi-backed MFE notifies Austrian watchdog about Prosiebensat.1 holding
▼ + stars: | 2022-12-18 | by ( ) www.reuters.com time to read: +2 min

ZURICH, Dec 18 (Reuters) - Italian businessman Silvio Berlusconi family's MediaForEurope NV vehicle has notified the Austrian competition authority about the "acquisition of de facto sole control of ProSiebenSat1 Media DE Deutschland" (PSMGn.DE), the competition watchdog said. MFE had no comment on the notification, which was first reported by German media portal DE24LIVE. The announcement, dated Dec. 13 on the Austrian regulator's website was made because ProSieben also operates in German-speaking Austria. MFE, controlled by the former Italian prime minister's family, has built, partly through derivatives, a 29.9% voting stake in its German rival, cementing its position as single biggest shareholder. "We haven't really seen ProSieben address the big challenges the industry faces: audience decline, digital transformation ... and the need for scale to compete with digital giants," MFE finance chief Marco Giordani told analysts.

Uniper (UN01.DE) has already booked billions of euros of losses on derivatives, exacerbating a crisis as it rushed to plug the gap left after Russia turned off the taps. Like other energy firms, Uniper uses derivatives, such as securing an option to sell gas at a set price in the future, to guard against energy price swings. "In total, we have derivative positions of about 216 billion euros as of September 30 2022," a spokesperson for Uniper said, adding that the riskier part of this was small. According to its accounts, Uniper held around 198 billion euros of receivables from derivative instruments as assets. It is also more than the 131 billion euros Germany's RWE (RWEG.DE) had at the end of June, public data shows.

☆ Sam Bankman-Fried's FTX wants to sell some of its last remaining solvent businesses as its restructuring process picks up
▼ + stars: | 2022-12-16 | by ( Morgan Chittum | ) www.businessinsider.com time to read: +4 min

FTX wants to sell some of its last functioning business units, according to a court filing. The embattled company has petitioned a federal court for permission to sell several of its subsidiaries, including US derivatives platform LedgerX, as the troubled firm's restructuring process picks up. Company attorneys say it's a "priority" for FTX to "explore sales" and "strategic transactions" of some of its remaining businesses, according to a court filing on Thursday. The filing continued: "The Debtors believe a number of these entities have solvent balance sheets, independent management and valuable franchises." FTX wants to sell these businesses fast, according to the court document, which indicated that some of the entities have had their operating licenses suspended following FTX's collapse.

☆ Options trading shows signs of a market bottom in first quarter of next year, says Susquehanna's Murphy
▼ + stars: | 2022-12-16 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailOptions trading shows signs of a market bottom in first quarter of next year, says Susquehanna's MurphyChris Murphy, Susquehanna co-head of derivatives strategy, joins the 'Halftime Report' to discuss if investors could see a rally in equity markets, where he sees the next move in equity markets going and what else Murphy will watch for signs the market is forming a bottom.

☆ Foreigners turn net buyers of Japanese stocks last week
▼ + stars: | 2022-12-15 | by ( ) www.reuters.com time to read: +1 min

Dec 15 (Reuters) - Foreign investors were net buyers of Japanese stocks last week, as worries about the U.S. Federal Reserve's interest rate hikes eased and sentiment improved after China eased its COVID-19 restrictions. Overseas investors purchased Japanese stocks worth a net 338.5 billion yen ($2.50 billion) in the week ended Dec. 8, after selling a net 781.55 billion yen worth in the previous week, data from exchanges showed. Foreign flows into Japanese stocksThey accumulated derivatives worth a net 418.27 billion yen but disposed of cash equities of 79.77 billion yen. According to the data, they have been net sellers of about 2.8 trillion yen worth of Japanese stocks so far this year. Data showed cross-border investors drew a net 6.14 trillion yen worth of Japanese bonds last week, which marked their biggest weekly net purchase since Jan. 2021.

☆ The 'ultimate buy-and-hold' investment fund is beating 96% of its competitors this year — with the same stocks it's held since 1935. Here's how the risk aversion born after the Great Depression is sti
▼ + stars: | 2022-12-15 | by ( Lisa Kailai Han | ) www.businessinsider.com time to read: +6 min

The Voya Corporate Leaders Trust Fund hasn't actively changed its strategy or holdings since 1935. Nearly a century after its inception, the Voya Corporate Leaders Trust Fund (LEXCX) is still going strong. That's why Client Portfolio Manager Christina Bargeron believes that the Voya Corporate Leaders Trust Fund was an unprecedented investment vehicle at its time — the "first truly passive offering" available to investors. "It's almost like taking a bet on your outlook for Union Pacific and energy," Bargeron explained. But going forward, Voya has no plans at all to change the guidelines for the Corporate Leaders Trust Fund.

☆ No Santa rally. Stocks could soon retest their lows, strategists and analysts say
▼ + stars: | 2022-12-15 | by ( Patti Domm | In | ) www.cnbc.com time to read: +6 min

But, it also forecast a higher terminal rate — or end point for its rate hikes — of 5.1%. I think the market was going retest the lows anyway, mainly because market bottoms mostly have retests," he said. Stovall said the market could see a slight Santa rally at the end of the month, going into the beginning of January. Many Wall Street strategists expect a choppy start of 2023, with a test of the lows, then improvement in the second half. Sohn said there's still a chance for a Santa rally, but he expects it may have already happened.

Search resuls for: "Derivatives"

25 mentions found