Author: Anthony M. Orbison

Unlock the Editor’s Digest for freeRoula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter.The writer is the foreign minister of Saudi ArabiaIn the face of the ongoing tragedy in Gaza, it is imperative that we recognise the need for an immediate ceasefire. The relentless cycle of violence must end. Making war as the region devolves into a dangerous escalatory cycle is easy. De-escalating and finding the path towards a lasting peace amid the ruin and despair requires courage and leadership. It is time to embark on an irreversible road to resolution, one that culminates in…

It’s been two weeks since the Federal Reserve decided to cut its key interest rate for the first time since 2020 during the Covid-19 pandemic. The decision brought the Fed’s Federal Funds Rate down to 4.75% to 5% from 5.25% to 5.5%, a level that was in place from summer 2023.  Don’t miss the move: Subscribe to TheStreet’s free daily newsletterThe hope is that progress on inflation will bring rates down for everyone, helping businesses dependent on the cost of credit, home buyers, home sellers and others.  This week many Fed officials, including Chairman Jerome Powell, have been offering hints in speeches…

Este artículo también está disponible en español. The Bitcoin price took a sharp dip to $60,164 on Tuesday following heightened geopolitical tensions in the Middle East, with Iran launching missile attacks on Israel. The escalation rattled global markets, impacting both traditional and crypto assets. Bitcoin was not immune with a notable -4% drop. Market participants, who had anticipated a strong bullish trend for the month dubbed “Uptober,” were forced to reassess as broader market sentiment turned risk-off. However, the reaction to the geopolitical news may be overblown, according to several analysts. Will Bitcoin Drop Further? Macro strategist Alex Krüger (@krugermacro)…

Starting next year, diners in the western US state of California can smoke cannabis at certain restaurants, thanks to a new law allowing for “cannabis cafes” akin to those popularized in the Netherlands. Democratic Governor Gavin Newsom signed a bill into law Monday authorizing businesses that are already licensed to sell cannabis to serve hot food and non-alcoholic beverages. It will go into effect on January 1, 2025. California legalized recreational cannabis in 2016, but dispensaries that sell the substance legally remain less popular than the black market. “Right now, our small cannabis businesses are struggling to compete against illegal…

(Reuters) -U.S. drugmaker Eli Lilly (NYSE:) said on Wednesday it will invest $4.5 billion to create a new center for advanced manufacturing and drug development in Indiana. The center, Lilly Medicine Foundry, will focus on researching new ways of producing medicines and scale up manufacturing for medicines used in clinical trials by the drugmaker. Lilly said the facility will be located in Lebanon, Indiana and will open in late 2027. The facility will increase Lilly’s total capital commitment in the United States to more than $23 billion since 2020. Source link

Bitcoin (BTC) is in the portfolio of several prominent firms. The Elon Musk-led company Tesla has been smitten by the Bitcoin bug for quite a while now. The king coin is currently trading at $63,711.26, following a slight dip over the past 24 hours.Also Read: Ripple Earns Financial License in Dubai: Will XRP See a Rally?Tesla’s Bitcoin Investment JourneySourceInitial Investment and ProfitTesla’s interest in Bitcoin has fluctuated despite the excitement surrounding its initial investment. By April 2021, Tesla had made a $272 million profit from selling around 10% of its BTC holdings. Musk went on to clarify that this was…

(Bloomberg) — US futures fell while Treasuries unwound some of the previous day’s gains as flaring tensions in the Middle East put markets in a wait-and-see mode.Most Read from BloombergWith traders awaiting Israel’s response to a missile barrage from Iran, and Brent crude topping $75 a barrel, geopolitical fears have replaced optimism around central bank policy easing as the main market driver. The escalation in the region spurred a flight to safety on Tuesday and sent Wall Street’s fear gauge — the VIX — to a key level that usually indicates more market swings are in store.Futures on the S&P…

Though some cities and metropolitan areas have robust public transportation systems that can reduce one’s dependency on the automobile, most Americans commute to and from work, run errands, and transport their children using their personal vehicles.Though cars are essential for getting around this great land, and having the latest and greatest is imperative to experience the latest safety and convenience technology, it is no secret that new car prices are as high as ever. Don’t miss the move: Subscribe to TheStreet’s free daily newsletterAccording to the latest available data from Cox Automotive, the average list price for a new set of wheels in…

Bitcoin and Ethereum ETFs experienced significant outflows on the 1st of October, totaling millions. U.S. election results could shape the regulatory landscape for XRP and SOL ETFs.  Bitcoin [BTC] and Ethereum [ETH] exchange-traded funds (ETFs) experienced significant outflows on the 1st of October. BTC ETFs saw withdrawals totaling $242.6 million and ETH ETFs recorded outflows of $48.6 million. Can Trump boost SOL and XRP ETFs? Amidst this fluctuating ETF market, recent discussions have emerged suggesting that the outcome of the upcoming U.S. presidential election could influence the regulatory landscape for crypto ETFs, particularly those involving assets like Ripple [XRP] and…

Unlock the Editor’s Digest for freeRoula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter.Starling Bank has received a fine of £29mn from the UK financial regulator, which accused the challenger bank of “shockingly lax” controls against financial crime.Starling’s efforts to identify potential money laundering, sanctions breaches and screen high-risk customers “did not keep pace” with the bank’s growth, the Financial Conduct Authority said on Wednesday. Starling grew from about 43,000 customers in 2017 to 3.6mn in 2023, the watchdog said.“Starling’s financial sanction screening controls were shockingly lax,” said Therese Chambers, joint executive director of enforcement…