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Travel insurance weekly rates at a glance:Average premium: $298.10Average trip cost: $5,844.48Average trip length: 16 daysWhat is travel insurance? Insider's Featured Travel Insurance Companies World Nomads Travel InsuranceAllianz Travel InsuranceTravelex travel insurance Chevron icon It indicates an expandable section or menu, or sometimes previous / next navigation options. Policy type Average days between purchase to trip Average trip length (days) Average trip cost Average cost of travel insurance Cancellation 53 14 $5,844.48 $371.67 Non-cancellation 16 21 N/A $96.17Source: SquareMouthAverage cost of travel insurance by ageA traveler's age is a significant factor in determining the cost of travel insurance. When calculating your travel insurance premium, travel insurance providers consider the likelihood of a medical emergency. Travel Insurance Rates FAQsHow much does travel insurance cost?

☆ Inflation fears fade as geopolitical risks rise
▼ + stars: | 2023-01-04 | by ( Paul R. La Monica | ) edition.cnn.com time to read: +8 min

New York CNN —Inflation fears roiled the markets in 2022. Now, investors may have scarier things to worry about in 2023, according to a report from global research and consulting firm Eurasia Group. “Inflation shockwaves” still feature as one of Eurasia’s top political risks for 2023 in a new report. But FTX and Alameda were each forced to file for bankruptcy in December after investors rushed to pull deposits. Just a year ago, Apple was the first company in the world to reach a $3 trillion market valuation.

[1/3] The logo of Robinhood Markets, Inc. is seen at a pop-up event on Wall Street after the company's IPO in New York City, U.S., July 29, 2021. The Department of Justice did not believe the 56 million shares of Robinhood, worth about $465 million, were property of a bankruptcy estate, U.S. attorney Seth Shapiro told U.S. Bankruptcy Judge John Dorsey, who is overseeing the FTX bankruptcy. Bankrupt crypto firm BlockFi, FTX and liquidators in Antigua have all laid claim to the Robinhood stock, along with Bankman-Fried. He said the Robinhood shares were subject to litigation and it was an "open question" about who owns them. BlockFi is suing Emergent in a bid to seize the Robinhood stock, which was pledged by Alameda as collateral to guarantee repayment of a loan made by BlockFi.

☆ Here's why investors can expect returns in the S&P 500 this year after 2022's stock market bloodbath.
▼ + stars: | 2023-01-04 | by ( Phil Rosen | ) www.businessinsider.com time to read: +5 min

This time last year, the S&P 500 was coming off its all-time closing high, which had arrived on 2022's first day of trading. It's only happened four times, but when the S&P 500 sees back-to-back losing years, the second is always worse. Traders work on the floor at the New York Stock Exchange (NYSE) in New York, U.S., March 2, 2020. And if you look at Bank of America's Sell Side Indicator, a year in the green for the S&P 500 seems to be in the cards. Morgan Stanley just revamped a nine-stock list that's beaten the S&P 500 by 18% over time.

Sam Bankman-Fried pleaded not guilty in New York federal court Tuesday to eight charges related to the collapse of his former crypto exchange FTX and hedge fund Alameda Research. The onetime crypto billionaire was indicted on charges of conspiracy to commit wire fraud and securities fraud, individual charges of securities fraud and wire fraud, money laundering, and conspiracy to avoid campaign finance regulations. Federal prosecutors also announced the launch of a new task force to recover victim assets as part of an ongoing investigation into Bankman-Fried and the collapse of FTX. Federal prosecutors built the indictment against Bankman-Fried with unusual speed, packaging together the criminal charges against the 30-year-old in a matter of weeks. The federal charges came alongside complaints from the Commodity Futures Trading Commission and the Securities and Exchange Commission.

☆ Chevron to send 500,000-barrel cargo of Venezuelan oil to its Pascagoula refinery
▼ + stars: | 2023-01-03 | by ( ) www.reuters.com time to read: +1 min

HOUSTON, Jan 3 (Reuters) - U.S. oil producer Chevron Corp (CVX.N) plans to export this month its first cargo of Venezuelan crude to its Pascagoula, Mississippi refinery following a U.S. license granted last year, according to shipping documents seen by Reuters on Tuesday. The 500,000-barrel cargo of Hamaca heavy crude, to be loaded at state-run PDVSA's Jose port, comes from the Petropiar oil joint venture operated by both companies. As of Tuesday, the tanker scheduled to carry the shipment, the Bahamas-flagged Caribbean Voyager, was waiting to load near Jose, Refinitiv Eikon data showed. Chevron declined to comment on Tuesday and PDVSA did not immediately reply to a request for comment. Washington had previously authorized Italy's Eni (ENI.MI) and Spain's Repsol (REP.MC) to recoup pending debts in Venezuela by taking Venezuelan crude for refining in Europe.

☆ Bahamas regulator sticks to estimate of FTX assets
▼ + stars: | 2023-01-03 | by ( ) www.reuters.com time to read: +1 min

Jan 2 (Reuters) - The Securities Commission of the Bahamas (SCB) rebuffed on Monday FTX's claims about the digital assets of its Bahamas unit held by the regulator, saying the debtors of the bankrupt cryptocurrency exchange had "incomplete information". Last month, the SCB said it had seized more than $3.5 billion in cryptocurrency from the unit, FTX Digital Markets, which it was holding for future repayment to customers and other creditors. FTX disputed SCB's calculations, saying its digital assets seized in November were worth just $296 million and not $3.5 billion. "Such public assertions by the Chapter 11 debtors werebased on incomplete information," the regulator said in a statement on Monday. Bahamas officials have sought access to FTX's records to help liquidate FTX Digital Markets, but the company's U.S. bankruptcy team said it did not trust them with the information.

☆ Sam Bankman-Fried pleads not guilty in the US government's criminal case over FTX crash
▼ + stars: | 2023-01-03 | by ( Sindhu Sundar | Jacob Shamsian | ) www.businessinsider.com time to read: +3 min

Sam Bankman-Fried entered a plea of not guilty to the fraud and conspiracy charges against him, according to reports. If Bankman-Fried doesn't reach a deal with the government, the case would head to a trial. "Just because he enters a plea of not guilty, it doesn't mean he's not working with prosecutors." How those cases proceed would also depend on the course of the criminal case. A criminal trial, for instance, could help him put civil suits against him on hold.

☆ Regulators in the Bahamas back their estimate on $3.5 billion in seized FTX crypto assets, saying the exchange's counter-claim of $296 million is due to 'incomplete information'
▼ + stars: | 2023-01-03 | by ( Brian Evans | ) www.businessinsider.com time to read: +2 min

Regulators in the Bahamas stood by their estimate on the $3.5 billion in crypto assets they seized from FTX. They rejected FTX's claims that the assets are worth just $296 million. "Such public assertions by the Chapter 11 debtors were based on incomplete information," the SCB said. The Securities Commission of the Bahamas pushed back against FTX's own valuation of $296 million, saying "Such public assertions by the Chapter 11 debtors were based on incomplete information." Meanwhile, FTX founder and former chief executive Sam Bankman-Fried is set to be arraigned in court on Tuesday in Manhattan federal court.

☆ FTX founder Sam Bankman-Fried to appear in court Tuesday
▼ + stars: | 2023-01-03 | by ( Samantha Murphy Kelly | ) edition.cnn.com time to read: +2 min

New York CNN —Sam Bankman-Fried, the disgraced founder of bankrupt crypto exchange FTX, is set to appear in person in a Manhattan federal court on Tuesday to face charges that include cheating investors out of billions of dollars. Bankman-Fried, known as SBF, is charged with eight criminal counts ranging from wire fraud and conspiracy to commit money laundering, to conspiracy by misusing customer funds. He is expected to plead not guilty and could face up to 115 years in prison if convicted on all charges. Wang faces up to 50 years in prison in accordance with federal sentencing guidelines referenced in court. Ellison faces up to 110 years in prison for the seven criminal counts she’s pleaded guilty to, per federal sentencing guidelines.

He is scheduled to appear at 2 p.m. EST (1900 GMT) before U.S. District Judge Lewis Kaplan in Manhattan. Bankman-Fried has admitted to making mistakes running FTX but said he did not believe he was criminally liable. The prosecution case was strengthened by last month's guilty pleas of two of Bankman-Fried's closest associates. Caroline Ellison, who was Alameda's chief executive, and Gary Wang, FTX's former chief technology officer, pleaded guilty to seven and four criminal charges, respectively, and agreed to cooperate with prosecutors. Bankman-Fried, Ellison and Wang were also sued by the U.S. Securities & Exchange Commission and Commodity Futures Trading Commission.

☆ Judge orders Sam Bankman-Fried to be blocked from accessing or transferring any FTX or Alameda assets
▼ + stars: | 2023-01-03 | by ( Sindhu Sundar | Jacob Shamsian | ) www.businessinsider.com time to read: +3 min

Sam Bankman-Fried denied any role in the recently reported transfers of funds involving Alameda. A federal judge sided with prosecutors and blocked him from accessing Alameda and FTX assets. US district judge Lewis Kaplan, who presided over Bankman-Fried's arraignment on Tuesday in which the FTX and Alameda founder pleaded not guilty, granted prosecutors' request to restrain him from such transactions. Kaplan's ruling blocks Bankman-Fried from those transactions, though it allows him to come to an agreement with prosecutors about a possible different arrangement. On Tuesday, Kaplan set October 2 as a date for a trial, though Bankman-Fried could work with prosecutors to negotiate a plea deal before then.

☆ Sam Bankman-Fried asks a judge to keep secret the identities of 2 people who helped secure his $250 million bail package
▼ + stars: | 2023-01-03 | by ( Phil Rosen | Sindhu Sundar | ) www.businessinsider.com time to read: +3 min

Sam Bankman-Fried's lawyers requested for a judge to keep confidential the identities of two individuals who helped him secure bail. "If the two remaining sureties are publicly identified, they will likely be subjected to probing media scrutiny," the lawyers wrote. Sign up for our newsletter to get the inside scoop on what traders are talking about — delivered daily to your inbox. The two individuals signed on as sureties for Bankman-Fried's massive bail, which was granted after his parents put up their $4 million Palo Alto, California property as collateral. According to the lawyers' letter cited in the report, those individuals haven't signed on yet but intend to do so by January 5.

CNBC rounds up some of the boldest price calls for bitcoin in 2023. Bitcoin miners, who use power-intensive machines to verify transactions and mint new tokens, are being squeezed by the slump in prices and rising energy costs. "In prior down markets, miner capitulation has usually indicated major bottoms," Ayyar told CNBC. However, Mobius told CNBC that he is sticking for his $10,000 price call in 2023. "There will be a managed bull market in 2023, not a bubble -- so we won't see the price overshooting as before," she told CNBC.

☆ The ultimate insider's guide to the dramatic downfall of Sam Bankman-Fried, Caroline Ellison, and FTX
▼ + stars: | 2023-01-01 | by ( Sindhu Sundar | ) www.businessinsider.com time to read: +11 min

Sam Bankman-Fried is facing criminal charges and is expected to enter a plea on Jan. 3. Read Insider's coverage of Bankman-Fried:FTX founder Sam Bankman-Fried gets by on 4 hours' sleep and multitasks on 6 screens. Now hit with 7 criminal charges, Ellison has pleaded guilty and expressed contrition before the New York federal court presiding over the criminal cases involving Bankman-Fried. Sam Bankman-Fried is in jail, but legal watchers are wondering: Where's ex-girlfriend Caroline Ellison? Sam Bankman-Fried hit with 8 criminal charges, including fraud and conspiracy for allegedly 'misappropriating' FTX customer fundsThe SEC has charged Sam Bankman-Fried and accused him of 'orchestrating a massive, years-long fraud'The criminal charges against Sam Bankman-Fried carry big penalties and jail time if proven, legal experts sayRead the CFTC complaint against FTX's Sam Bankman-Fried and his associates Caroline Ellison and Gary WangThe charges against Caroline Ellison, SBF, and FTX cofounder Gary Wang — in 60 seconds

☆ Sam Bankman-Fried is expected to plead not guilty to defrauding FTX investors, reports say
▼ + stars: | 2022-12-31 | by ( Stephanie Stacey | ) www.businessinsider.com time to read: +3 min

Sam Bankman-Fried is likely to plead not guilty, per The Wall Street Journal and Reuters. He faces multiple criminal charges including wire fraud and conspiracy to commit money laundering. He's facing multiple criminal charges including wire fraud, conspiracy to commit money laundering, and conspiracy to violate campaign financing laws. It is not unusual for criminal defendants to initially plead not guilty and defendants can later change their plea, Reuters reported. Former Alameda Research CEO Caroline Ellison and FTX cofounder Gary Wang both pleaded guilty to criminal charges similar to those Bankman-Fried faces.

☆ Who should play Sam Bankman-Fried, Caroline Ellison, and his parents when the FTX implosion gets made into a movie or TV show
▼ + stars: | 2022-12-31 | by ( Travis Clark | ) www.businessinsider.com time to read: 1 min

Michael Lewis, author of "The Big Short" and "Moneyball," has reportedly interviewed disgraced FTX founder Sam Bankman-Fried multiple times for an upcoming book. Sam Bankman-Fried outside at the federal court in Manhattan on Thursday. Jeenah Moon/ReutersThe Hollywood trade The Ankler reported in November that Lewis had been interviewing Bankman-Fried for six months, and the New York Post followed up on Tuesday, reporting that Lewis met with Bankman-Fried for "several hours" soon after the latter was put under house arrest at his parents' home in Palo Alto. Bankman-Fried was released on bail last week from a New York federal court after being extradited to the US from the Bahamas. He's facing several fraud-related charges after the implosion of FTX, the cryptocurrency firm he founded and of which he was formerly CEO.

☆ FTX says Bahamas regulators hold $296 mln, not $3.5 bln of company's assets
▼ + stars: | 2022-12-30 | by ( ) www.reuters.com time to read: 1 min

Dec 30 (Reuters) - FTX on Friday disputed the Securities Commission of the Bahamas' claims that the regulator was holding $3.5 billion of the bankrupt cryptocurrency exchange's assets. When the digital assets of FTX were transferred to the regulator in November, their value was just $296 million, FTX said in a statement. Reporting by Niket Nishant in Bengaluru; Editing by Shailesh KuberOur Standards: The Thomson Reuters Trust Principles.

Bankman-Fried is accused of illegally using FTX customer deposits to support his Alameda Research hedge fund, buy real estate and make millions of dollars in political contributions. He is scheduled to appear at 2 p.m. EST (1900 GMT) on Tuesday before U.S. District Judge Lewis Kaplan in Manhattan to enter a plea. It is not unusual for criminal defendants to initially plead not guilty. Bankman-Fried has admitted to making mistakes running FTX but said he did not believe he was criminally liable. The prosecution case was strengthened by last month's guilty pleas of two of Bankman-Fried's closest associates.

☆ Bankman-Fried set to enter initial not guilty plea in FTX fraud case -source
▼ + stars: | 2022-12-30 | by ( Jack Queen | Industry Insight | Saw Law Firms Move Past The Pandemic Into A More Client-Focused Service Environment | ) www.reuters.com time to read: +1 min

Bankman-Fried is accused of illegally using FTX customer deposits to support his Alameda Research hedge fund, buy real estate and make millions of dollars in political contributions. He is scheduled to appear at 2 p.m. EST (1900 GMT) on Tuesday before U.S. District Judge Lewis Kaplan in Manhattan to enter a plea. The Massachusetts Institute of Technology graduate has been charged with two counts of wire fraud and six conspiracy counts, including to launder money and commit campaign finance violations. Bankman-Fried has admitted to making mistakes running FTX but said he did not believe he was criminally liable. Reporting by Jack Queen; Editing by Noeleen Walder and Daniel WallisOur Standards: The Thomson Reuters Trust Principles.

Big layoffs at Meta , Amazon , Snap and others? A global crypto fraud set in the Bahamas? Elon Musk buying and running Twitter? Look, not even Nostradamus could have seen all that coming. Of course, that’s what we love about this annual exercise, where our team sits around a crystal ball, roasting AI-generated marshmallows and predicting what’s to come in the new year.

Companies Chevron Corp FollowHOUSTON, Dec 30 (Reuters) - U.S. oil company Chevron Corp (CVX.N) is sending two oil tankers to Venezuela, one of which will load the first cargo of crude destined for the United States in nearly four years, according to a person familiar with the matter and shipping data. On Friday, a Chevron-chartered vessel approached the South American country's waters to pick up a cargo of Venezuelan crude. A second tanker carrying a cargo of diluents to a Chevron oil joint venture is due to arrive in the country early next month, the person said. The U.S. last month issued a 6-month license to Chevron authorizing it to take an expanded role at four Venezuelan oil joint ventures that produce, process and export oil, and to bring their oil to the United States. Washington officials have said further easing of Venezuelan oil sanctions could come with a reinstatement of excluded political candidates and election observers.

☆ Bahamas Regulator Says It Seized $3.5 Billion in FTX Crypto Assets
▼ + stars: | 2022-12-30 | by ( Jonathan Randles | Becky Yerak | ) www.wsj.com time to read: 1 min

Bahamas securities regulators said they seized digital assets valued at $3.5 billion from FTX’s local operation in mid-November as the cryptocurrency exchange spiraled toward collapse and confirmed they relied on FTX’s co-founders to make the transfers happen. Christina Rolle, executive director of the Securities Commission of the Bahamas, said in an affidavit made public Thursday that the commission sought control of the crypto assets held by FTX Digital Markets Ltd. last month after FTX co-founder Sam Bankman-Fried told local authorities under oath about a hacking attempt.

☆ Bahamas regulator holds FTX assets pending delivery to customers, creditors
▼ + stars: | 2022-12-30 | by ( ) www.reuters.com time to read: +1 min

Dec 29 (Reuters) - The Securities Commission of the Bahamas said on Thursday that it is holding FTX assets worth $3.5 billion based on market pricing at the time of transfer on a temporary basis to deliver them to customers and creditors who own them. FTX's Bahamas unit's digital assets were transferred to digital wallets under the exclusive control of the commission in November soon after the company and its hedge fund Alameda Research and dozens of affiliates filed for U.S. bankruptcy. "All transferred assets were and remain under the sole control of the commission," Rolle said. The authorities in the Bahamas, where the company had its headquarters, appointed liquidators to wind down FTX's international trading business soon after the company announced bankruptcy. Reporting by Urvi Dugar and Akanksha Khushi in Bengaluru; Editing by Leslie AdlerOur Standards: The Thomson Reuters Trust Principles.

☆ Cruises bookings for under $60 a day are all the rage, but sometimes you get what you pay for. Here's what you need to know before booking.
▼ + stars: | 2022-12-30 | by ( Brittany Chang | ) www.businessinsider.com time to read: +4 min

There are almost 420 cruises sailing in 2023 for $60 a day or less. What you pay for is what you get: Some of these cheap cruise itineraries aren't necessarily glamorous. Cruise Sheet saw record bookings for 2022 itineraries from spring into early summer, Smith told Insider in July. But just because the brand is recognizable doesn't mean the cheap cruise ship will be as flashy as Royal Caribbean's new Wonder of the Seas. Similarly, in 2022, hospitality giant Margaritaville's converted a 30-year-old cruise ship into its first cruise vessel, the Margaritaville at Sea Paradise.

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