Wall Street’s Lucrative Leveraged-Debt Machine Is Breaking Down

(Bloomberg) — One of the most lucrative money-making machines in the world of finance is all clogged up, threatening a year of pain for Wall Street banks and private-equity barons as a decade-long deal boom goes bust. After driving a flurry of mega buyouts that contributed to a $1 trillion profit haul in the good times, … Read more

Powell Signals Downshift Likely Next Month, More Hikes to Come

Jerome Powell, chairman of the US Federal Reserve, speaks during a news conference following a Federal Open Market Committee (FOMC) meeting in Washington, DC, US, on Wednesday, Nov. 2, 2022. Federal Reserve officials delivered their fourth straight 75 basis-point interest rate increase while also signaling their aggressive campaign to curb inflation could be approaching its … Read more

Oil Edges Lower With China Unrest Rippling Through World Markets

Oil’s recent leg lower is the latest twist in what’s been a tumultuous year, with volatility driven by the war in Ukraine, aggressive central bank tightening to combat inflation, and China’s relentless attempts to eradicate Covid-19. In recent days, European Union diplomats have been locked in talks over cap on Russian crude prices, with negotiations … Read more

China Summons Chip Firms For Emergency Talks After U.S. Curbs

China’s top technology overseer convened a series of emergency meetings over the past week with leading semiconductor companies.

Oil Steadies After Plunging Almost 6% on China Demand and Dollar

West Texas Intermediate traded near $82 a barrel early in Asia after collapsing almost 6% on Wednesday, the biggest loss since mid-July. Several Chinese centers face anti-virus lockdowns, including the megacity of Chengdu, imperiling energy demand in the world’s biggest importer.