Shipping stocks across Asia took a hit today after dockworkers at US East and Gulf Coast ports decided to pause their strike. This move is expected to lower hopes for rising container rates, as the supply situation stabilizes. Investors reacted swiftly, leading to a drop in the stocks of shipping companies across the region.
European and US stock futures rose today, following gains in Asian markets. This comes as investors await US jobs data, which could clarify the future of interest rates. Meanwhile, oil prices stabilized after a significant spike due to Middle East tensions, marking the largest one-day increase in nearly a year.
Oil prices steadied today after experiencing their largest one-day rise in nearly a year. Market tensions remain high amid concerns that Israel might retaliate against Iranian crude facilities following recent missile attacks.
Eisler Capital is facing challenges that highlight the tough competition in the hedge fund industry. It shows how difficult it can be for firms to establish themselves among the top players in the field.
Blackstone Inc. predicts that the private credit market will surge to $30 trillion. This growth is driven by increased lending for infrastructure projects and more investment from pension funds.
US container ports from Houston to Miami and up to Boston are closed for a third day. The shutdown follows the expiration of the labor contract between dockworkers and their employers, which included terminal operators and shipping lines, on Tuesday.
OpenAI has successfully raised $6.6 billion in funding, valuing the company at $157 billion. This significant capital boost will enhance its efforts to develop leading generative AI technology. Additionally, OpenAI secured a $4 billion credit line from global banks, giving it over $10 billion in resources. Bloomberg's Rachel Metz discussed the news with Caroline Hyde and Ed Ludlow on "Bloomberg Technology."
Canaccord Genuity Group Inc., the Vancouver-based investment bank, is shutting down its fixed-income emerging markets business, sources say.
Tesla Inc. is gearing up for a $783 million debt sale, leveraging car leases from prime borrowers as backing. This move joins a recent increase in automotive asset-backed securities, highlighting growing investor interest in the auto finance market.
President Joe Biden addressed concerns on Thursday regarding Israel's response to Iran's recent missile attacks. Speaking outside the White House, he confirmed that discussions are ongoing about whether Israel may strike Iran's oil industry as part of its military response.
