Jonathan Wong
The Latest
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Prominent Crypto Tycoon Sam Bankman-Fried Faces Jail Time Over Alleged Witness Tampering
In a startling turn of events, Sam Bankman-Fried, the renowned cryptocurrency magnate and founder of FTX, has been ordered to jail by a U.S. judge over allegations of witness tampering. The decision has sent shockwaves throughout the financial and crypto sectors, casting a shadow over one of the industry's most celebrated figures. 
In a startling turn of events, Sam Bankman-Fried, the renowned cryptocurrency magnate and founder of FTX, has been ordered to jail by a U.S. judge over allegations of witness tampering. The decision has sent shockwaves throughout the financial and crypto sectors, casting a shadow over one of the industry's most celebrated figures. -
U.S. Treasury Bonds on the Rise? BofA Predicts Record Investment Influx for 2023
Following Thursday's weak demand during the 30-year U.S. Treasury bond auction and Friday's July PPI (Producer Price Index) slightly exceeding expectations, U.S. bond yields revived their upward trajectory late this week. However, Bank of America remains optimistic about the appeal of the U.S. bond market to investors for the remainder of the year. 
Following Thursday's weak demand during the 30-year U.S. Treasury bond auction and Friday's July PPI (Producer Price Index) slightly exceeding expectations, U.S. bond yields revived their upward trajectory late this week. However, Bank of America remains optimistic about the appeal of the U.S. bond market to investors for the remainder of the year. -
Northern Hemisphere Weather Woes Hit Quality Wheat Production, Intensifying Global Food Supply Crisis
Due to extreme weather conditions, key wheat-producing regions in the Northern Hemisphere are grappling with quality issues. Europe has faced detrimental rains, leading to the risk of wheat mold, while North America's unprecedented dry spell has affected crop yields. Now, wheat importers are turning their gaze towards Southern Hemisphere nations, which have not yet begun their harvest season, hoping to fill the demand gaps of various countries. 
Due to extreme weather conditions, key wheat-producing regions in the Northern Hemisphere are grappling with quality issues. Europe has faced detrimental rains, leading to the risk of wheat mold, while North America's unprecedented dry spell has affected crop yields. Now, wheat importers are turning their gaze towards Southern Hemisphere nations, which have not yet begun their harvest season, hoping to fill the demand gaps of various countries. -
Ant Group Scales Down Stake in India's Paytm
As per the announcement released by Paytm on the Indian National Stock Exchange, a subsidiary of Ant Group converted nearly half of its shares in the Indian payment company, Paytm, into convertible bonds on Monday. The deal, based on Paytm's closing price on August 4, comprises 10.3% of its shares, valued at approximately $628 million (45 billion yuan). 
As per the announcement released by Paytm on the Indian National Stock Exchange, a subsidiary of Ant Group converted nearly half of its shares in the Indian payment company, Paytm, into convertible bonds on Monday. The deal, based on Paytm's closing price on August 4, comprises 10.3% of its shares, valued at approximately $628 million (45 billion yuan). -
Russian Oil Breaks Price Ceiling, Setting New Monthly Revenue Record
Amid ongoing production cuts by the OPEC+ alliance, Russia, a major oil-producing nation, may have bypassed sanction limits, reaping more funds from its oil sales. 
Amid ongoing production cuts by the OPEC+ alliance, Russia, a major oil-producing nation, may have bypassed sanction limits, reaping more funds from its oil sales. -
Union Demands Roar, General Motors and Ford Hit Hard: A New Problem for Traditional U.S. Automakers Amid Electric Transition
The potential $80 billion in extra spending demanded by unions from two major American auto giants, General Motors and Ford, sends production costs soaring and confidence plummeting. General Motors nosedived by 5.8% (over 6% intra-day), while Ford fell 4.5% (over 5% intra-day). These two stocks are among the top three losers in the S&P 500 index. 
The potential $80 billion in extra spending demanded by unions from two major American auto giants, General Motors and Ford, sends production costs soaring and confidence plummeting. General Motors nosedived by 5.8% (over 6% intra-day), while Ford fell 4.5% (over 5% intra-day). These two stocks are among the top three losers in the S&P 500 index. -
Wall Street's CEO Race Heats Up: Morgan Stanley Seeks to Break Tradition
The hunt for Wall Street's next top CEO is intensifying. Recently, 65-year-old Morgan Stanley CEO James Gorman shared his plans to identify an appropriate successor within the next year. 
The hunt for Wall Street's next top CEO is intensifying. Recently, 65-year-old Morgan Stanley CEO James Gorman shared his plans to identify an appropriate successor within the next year. -
Mild Inflation Signals: Fed Likely to Hold Rates Steady Amid Rising CPI
On Thursday, following the release of U.S. CPI data, Wall Street Journal reporter Nick Timiraos, among others, suggested that the July increase in the U.S. Consumer Price Index (CPI) indicates mild price pressure, potentially discouraging the Federal Reserve from hiking interest rates in September. 
On Thursday, following the release of U.S. CPI data, Wall Street Journal reporter Nick Timiraos, among others, suggested that the July increase in the U.S. Consumer Price Index (CPI) indicates mild price pressure, potentially discouraging the Federal Reserve from hiking interest rates in September. -
SMIC Q2 Revenue Dips 18% YoY, But Hopes for H2 Rebound Shine Bright
On Thursday, August 10, chip manufacturer Semiconductor Manufacturing International Corporation (SMIC) released its financial results for the second quarter, ending June 30. 
On Thursday, August 10, chip manufacturer Semiconductor Manufacturing International Corporation (SMIC) released its financial results for the second quarter, ending June 30. -
Disney Reports Mixed Quarter: Streaming Subscribers Dip, Theme Parks Shine, and Disney+ Set for 27% Price Hike
On Wednesday, following the close of the U.S. stock market on August 9, Disney revealed its third-quarter financial results ending July 1. 
On Wednesday, following the close of the U.S. stock market on August 9, Disney revealed its third-quarter financial results ending July 1.
