Evergrande slides into default while some ratings agencies keep quiet
With no confirmation that Evergrande made interest payments in time, Fitch Ratings declared the Chinese developer in ‘restricted default’ on Thursday.
Financial News
Amazon fined $1.28 billion by Italy’s antitrust regulators
Amazon has been fined 1.13 billion euros ($1.28 billion) by Italian antitrust regulators for abusing its market dominance.
Social Democrat Olaf Scholz elected German leader as Merkel era ends
Scholz, a member of the socialist SPD party, will lead a three-party coalition with the Greens and the pro-business FDP party.
Biden wants to prevent Russia-Ukraine conflict, but experts say time is running out
There are widespread concerns about Russian military activity on the border with Ukraine and its increasingly aggressive rhetoric.
Market history says omicron volatility isn’t a reason for investors to sell
Last Friday’s VIX spike of 54% on the omicron variant emergence has been followed by more big moves in the Dow, but VIX history says the bull market won’t end.
Bitcoin loses $10,000, or 17%, in 24 hours after overnight rout
From a 24-hour period spanning Friday morning to Saturday morning, bitcoin’s price went from about $57,000 to $47,000, losing $10,000, or more than 17%.
WHO says Covid omicron variant detected in 38 countries, early data suggests it’s more contagious than delta
The WHO’s Maria Van Kerkhove said there are early indications omicron is more infectious, but additional data is needed.
Fidelity International CEO ‘strongly’ believes central banks should wait to tighten policy
Holding off on tightening policy is a “lesser evil than acting prematurely,” says Anne Richards, from Fidelity International.
South Africa considers vaccine mandates as omicron cases spiral
After first identifying the omicron Covid-19 variant, South Africa is bracing for a fourth wave of infections.
Powell says Fed will discuss speeding up bond-buying taper at December meeting
Federal Reserve Chairman Jerome Powell indicated Tuesday that the central bank could step up the removal of its efforts to boost the economy.