UK approves extradition of WikiLeaks founder Julian Assange to US

WikiLeaks founder Julian Assange leaves Westminster Magistrates Court in London, Britain. Henry Nicholls | Reuters The UK has approved the extradition of WikiLeaks founder Julian Assange to the US, where he is wanted for publishing hundreds of thousands of classified military documents and diplomatic cables. The deportation was approved by UK Home Secretary Priti Patel … Read more

China’s real estate problems have pushed the debt indicator to an all-time high

Fixed asset investment data for the first five months of 2022 showed that real estate investment declined on a larger scale than in the first four months of the year. Pictured on May 16 is a development in the city of Huai’an in east China’s Jiangsu province. CFOTO | Edition of the future | Getty … Read more

Enbridge will increase natural gas prices by up to 23% on July 1

Just in time for barbecue season, Enbridge is set to raise natural gas prices in Ontario – and the province’s watchdog warns there could be more increases to come. An Ontario Energy Board decision released Thursday approved Enbridge Gas Inc.’s June request for a hike, after the utility company reported gas shortages in North America. … Read more

These 3 bank stocks can “make a fortune” thanks to higher rates

CNBC’s Jim Cramer said Thursday that investors who think the Federal Reserve can pull off a soft landing should have bank stocks on their shopping list. “If you think we’re headed for a full recession, it’s fair to avoid bank stocks. But if you’re like me and you think the Fed can really needle-thread and … Read more

China’s tech regulations are getting more ‘rational’: JD.com’s top executive

China’s annual 618 shopping festival sees national e-commerce giants including JD.com rack up billions of dollars in sales on their platforms. The 2022 edition comes against a backdrop of slowing economic growth in China and sluggish consumer spending. CGV | Getty Images Regulation of China’s tech sector isn’t relaxing, it’s just getting more “rational,” a … Read more

Everyone knows inflation is on fire. Here’s what really powers it

Meat is seen in a supermarket as rising inflation affects consumer prices in Los Angeles, California, June 13, 2022. Lucy Nicholson | Reuters Inflation doesn’t just happen at the gas pump and the grocery store. There are literally hundreds of avenues that filter into broader metrics that the government uses to assess price increases. The … Read more

A day after Powell’s assurances, markets fear something is about to break

Federal Reserve Board Chairman Jerome Powell speaks to reporters after the Federal Reserve raised its target interest rate by three-quarters of a percentage point to stem a disruptive surge in inflation, during a a press conference following a two-day meeting of the Federal Open Market Committee (FOMC) in Washington, United States, June 15, 2022. Elizabeth … Read more

Revlon Files for Chapter 11 Bankruptcy Protection

Cosmetics giant Revlon filed for Chapter 11 bankruptcy on Wednesday night as it struggled with heavy debt and a congested supply chain. The company said it expects to receive $575 million in debtor-in-possession financing from its existing lender base, which will help support its day-to-day operations. The filing “will allow Revlon to bring our consumers … Read more

Stock futures fall after Fed hikes rates to highest since 1994

U.S. stock index futures were under pressure on Thursday, putting major averages to give up strong gains made in the previous session. Futures contracts linked to the Dow Jones Industrial Average fell 1.5%, or 460 points. S&P 500 futures fell 1.7%, while Nasdaq 100 futures fell 2.%. All three futures had previously traded in positive … Read more

US and European unity over Ukraine begins to crack amid Russia attack

Ukrainian President Volodymyr Zelenskyy visits Ukrainian troop positions located in Bakhmut city and Lysychansk districts, Ukraine, June 05, 2022. Ukrainian Presidency | Documents | Anadolu Agency | Getty Images LONDON — There are growing signs that Western unity over the war in Ukraine may be beginning to crack as the conflict drags on and leaders … Read more