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

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

OPEC+ Considers Output-Limit Cut Of As Much As Two Million Barrels A Day

The group may discuss a cut of that size, plus smaller reductions ranging from 1 million to 1.5 million barrels a day, when it meets on Wednesday, delegates said. Based on current discussions, so far curbs would use existing baselines to measure each country’s contribution, one delegate said.  

Fed Rate Increases to Persist Until Inflation Eases, Barkin Says

“Inflation should come down, but I don’t expect its drop to be immediate nor predictable,” said Barkin, who isn’t a voter on the rate-setting Federal Open Market Committee this year. “Significant shocks simply take time to dampen,” he said, referring to the disruptions created by the Covid-19 pandemic, supply-chain snarls, and Russia’s invasion of Ukraine.

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?” 

Dorsey Tried to Add Musk to Twitter’s Board Well Before Deal

In another message, Dorsey wrote “back when we had the activist come in, I tried my hardest to get you on our board, and our board said no. That’s about the time I decided I needed to work to leave, as hard as it was for me.” Dorsey said Twitter’s board is “risk averse” and … Read more