Citi Ventures Makes First Crypto Seed Investment in Startup Xalts

“The world has changed a lot, you know with the macro environments and obviously markets have been suffering as a result of that,” Luis Valdich, a managing director at Citi Ventures, said in an interview. “Obviously we are very prudent in terms of where to and how to deploy capital, but we’re absolutely active with … Read more

Porsche Overtakes Parent Volkswagen as Europe’s Most Valuable Automaker

The debut of the 911 maker was a bold move into public markets, which have been largely shut to IPOs for most of the year, with companies shying away from seeking new listings because of the European energy crisis, rising interest rates and record inflation. For Volkswagen, the share sale is raising funds to plough … Read more

Stocks Resume Rally, Oil Jumps on Production Curb: Markets Wrap

Investors signaled belief in a fledgling equity rally as US futures erased a Wednesday decline and an index of Asian stocks traded higher, suggesting that markets are downplaying the impact of rising oil prices.

Gold Falls After Two-Day Surge With Fed Rate Stance in Focus

“Gold’s bottom is in place now that the US is showing clear signs the labor market is softening,” Ed Moya, senior market analyst at Oanda, said in a note. As long as the US nonfarm payrolls do not see an “extraordinary strong print”, gold should remain supported and may test the $1,750 an ounce, he … Read more

Musk Revives $44 Billion Twitter Bid, Aiming to Avoid Trial

In the letter, Musk’s attorneys wrote that the billionaire and his supporters “intend to proceed to closing of the transaction contemplated by the April 25, 2022, merger agreement, on the terms and subject to the conditions set forth therein and pending receipt of the proceeds of the debt financing,” according to the filing, provided the … Read more

India Enters 5G Era as Debt-Laden Carriers Gird to Spend Billions

To capitalize on 5G, China has been rolling out smartphone apps and industrial projects such as super high-definition live streaming, remote manufacturing, virtual reality and robotic surgery arms. The country’s three state-owned carriers have introduced more than 25,000 such applications, according to a news article posted by the State Council on its website in August. … Read more

Oil Traders Regain Their Swagger With World Desperate for Fuel

“Energy security is number one, price is number two, sustainability is number three,” said Russell Hardy, chief executive officer at Vitol Group, the world’s top oil trader by volume. “That’s the short-term set of priorities. The long set of priorities haven’t changed, they’re the other way around.”

Credit Suisse Is at ‘Critical Moment’ as Bank Prepares for Latest Overhaul, CEO Says

While conceding that there is a lot of uncertainty and speculation both within and outside the bank, the CEO said he will be sending a regular update to staff until the results of its strategic review on Oct. 27, according to the memo, seen by Bloomberg and confirmed by a Credit Suisse spokesperson. 

Ten Things Elon Musk’s Texts Reveal About the Twitter Deal

10. In March, Sam Bankman-Fried, the crypto billionaire, tried to get in touch with Musk through an associate to discuss joining in a deal for Twitter. Musk appeared uninterested — and unaware of Bankman-Fried’s wealth, asking, “Does he have huge amounts of money?”