Coming up on the markets
Australia’s employment data, RBA meeting minutes, Chinese and US retail sales, UK CPI, Nvidia earnings in focus.
News
Tesla stock ‘tarnished’ by Musk’s Twitter antics, analyst warns
The Musk-Twitter saga started when the billionaire acquired a 9% stake in the firm back in April and within weeks announced a bid to acquire it at a massive premium.
Drake and 21 Savage ordered to stop promoting fake ‘Vogue’ cover
Condé Nast sued the rappers earlier this week for using Vogue to promote the album ‘Her Loss’ without its permission.
‘Beware’ of Crypto investing or risk bankruptcy court, SEC Chair warns
The head of the Securities and Exchange Commission cautioned Americans about the risks of investing in the lightly regulated cryptocurrency industry
US inflation in October climbed at slowest pace since January
The Fed has just one more policy meeting this year, concluding on December 5.
Banks bask in the fading light of economic sunlight
The sector has emerged from the pandemic with its best result since 2018.
Most expensive art auction ever: Paul Allen’s collection fetches record US$1.6 billion
It’s the first time a single owner’s art collection has broken the billion-dollar threshold—and the action hasn’t ended yet.
Crypto stocks trade down but avoid major collapses on volatile day
Bitcoin proxies weathered downward pressure from the FTX collapse.
Binance bails on FTX acquisition — Here’s what led to the FTX crypto crash
The crypto industry shed US$176 billion in market capitalization since Sunday, a 19.5% decline.
Elon Musk has sold US$3.9 billion of Tesla stock since Friday
The world’s richest person has now sold US$19.3 billion of Tesla stock since announcing his Twitter takeover.