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(Bloomberg) -- Bitcoin surpassed $67,000 for the first time since July as a rally in US stocks helped to renew optimism for riskier assets such as cryptocurrencies."Sentiment jumped sharply to 'greed,"' analysts at FxPro wrote in a note Tuesday.The largest cryptocurrency gained as much as 2.45% to $67,520 as of 9:58 a.m. in New York.©2024 Bloomberg L.P.By Emily NicolleReported by Author [Extracted from the article]

President Joe Biden visited East Palestine, Ohio, more than a year after a toxic chemical spill caused by a train derailment. The incident, which involved a Norfolk Southern Corp. freight train carrying various chemicals, including vinyl chloride, raised concerns about contaminated air and water and drew criticism of the federal response. During his visit, Biden met with local officials, blamed Norfolk Southern for the incident, and promised to hold them accountable. He also announced grants for research on the short- and long-term effects of the incident. The visit has political significance, as it highlights Biden's efforts to win over traditionally Democratic, white, blue-collar workers in rural and suburban communities. [Extracted from the article]

President Joe Biden visited East Palestine, Ohio, to address concerns over his administration's response to a train derailment that occurred last year. The derailment released toxic chemicals into the air and water, causing residents to worry about contamination. Biden blamed Norfolk Southern and those who blocked rail-safety legislation for the incident, calling it an "act of greed." He assured the community of the federal commitment to their recovery and pledged to hold Norfolk Southern accountable. The visit holds political significance as it highlights Biden's challenge in winning over rural, white, blue-collar workers in the Rust Belt. [Extracted from the article]

Investors in Chinese equities are feeling more confident as efforts by policy makers to stabilize the stock market have had a positive impact. The Fear and Greed indicator for the CSI 300 Index, which measures buying strength versus selling strength, has reached its highest level since January of the previous year. This suggests that the gauge may enter a period of strength. The market has seen a 1% gain so far this year, following three consecutive years of losses. The positive sentiment is attributed to various supportive measures, such as a ban on reducing equity holdings at the start and end of each trading day, as well as increased supervision of quantitative trading. [Extracted from the article]

President Joe Biden met with union workers in Las Vegas and blamed corporate greed for driving higher prices in the US. He visited workers from the Culinary Workers Union and praised their recent agreements with downtown Las Vegas casinos and hotels, which helped raise wages for American workers. Biden acknowledged that there was still work to be done and cited the example of a Snickers bar made by Mars Inc. to illustrate his point. Rising costs have been a political challenge for Biden, and a recent poll showed that voters were more likely to trust former President Donald Trump on the issue of fighting inflation. The Culinary Workers Union announced that they were scrapping a planned strike, and Biden's support from unions will be crucial to his reelection hopes. Despite union leaders' endorsements, Biden faces challenges in winning over rank-and-file union members from Trump. Biden does not face any major opposition in the Nevada primary, but the results will set the stage for a crucial battleground in the general election. [Extracted from the article]

Stocks rebounded as Treasury volatility abated, with tech giants leading gains. The Nasdaq 100 was up almost 2% and the S&P 500 was on track for a seven-week high. Traders are looking past a disappointing reading on consumer sentiment and the Federal Reserve's efforts to downplay the market's dovish bid. The caution that pervaded equity markets in the past three months has now switched to "year-end greed" on expectations of a decline in US bond yields. [Extracted from the article]

Stocks rose and bond yields fell as tech giants led gains, with the Nasdaq 100 up 1%. Treasuries climbed, sending 30-year yields down four basis points. Bitcoin reached its highest price in 18 months. Oil recovered but was still on track for a third straight weekly drop. Traders are keeping an eye on the latest remarks from US officials, with concerns about inflation and economic prospects weighing on sentiment. Investors have softened their emotional reactions to data in recent weeks, and fund flows indicate optimism in equity markets. The caution that pervaded equity markets in the past three months has now switched to "year-end greed" on expectations of a decline in US bond yields. [Extracted from the article]

Stock futures rose and bond yields fell as traders looked past the Federal Reserve's efforts to downplay the market's dovish bid. The S&P 500 was set to rebound after a slide triggered by a Treasury selloff and Jerome Powell's remarks about tightening. The caution that pervaded equity markets in the past three months has now switched to "year-end greed" on expectations of a decline in US bond yields. Global stocks recorded inflows of $8.8 billion in the week through November 8, but cash remains the asset class of choice. [Extracted from the article]

According to Bank of America Corp.'s Michael Hartnett, the caution that was prevalent in stock markets has now shifted to "year-end greed" due to expectations of a decline in US bond yields. This optimism is reflected in fund flows, with global stocks seeing inflows of $8.8 billion in the week through November 8. However, cash remains the preferred asset class. Hartnett has generally held a bearish view on US stocks this year, but recently expressed a more bullish tone for a year-end rally. Other Wall Street strategists have warned of risks in the coming months. [Extracted from the article]

BofA strategists earlier this week led by Subramanian said a contrarian indicator from the bank is also close to offering a buy signal, with its current level implying a 15.5% price return for the S&P 500 over the next 12 months. BofA Warns "Fear Just as Costly as Greed", Says Buy US Stocks Despite his technical view on a year-end rally, Hartnett has remained bearish throughout 2023, even as the S&P 500 rallied in the first half and is up more than 13% this year. [Extracted from the article]

When asked what type of stock stands to benefit the most from profit-led inflation, almost three-quarters of respondents opted for firms with strong pricing power. (Bloomberg) -- Soaring corporate profits are a big part of the inflation problem, and keeping interest rates high is the best way to rein them in, according to Bloomberg's latest poll of professional and retail investors. [Extracted from the article]

(Bloomberg) -- Soaring corporate profits are a big part of the inflation problem, and keeping interest rates high is the best way to rein them in, according to Bloomberg's latest poll of professional and retail investors. Paul Donovan, chief global economist at UBS AG, refers to this as "profit-led inflation" - companies using the cover of broad-based price increases to raise their own prices more than they have to -- and more colloquially the idea has become known as "greedflation.". [Extracted from the article]

Paul Donovan, chief global economist at UBS AG, refers to this as "profit-led inflation" - companies using the cover of broad-based price increases to raise their own prices more than they have to -- and more colloquially the idea has become known as "greedflation." (Bloomberg) -- Soaring corporate profits are a big part of the inflation problem, and keeping interest rates high is the best way to rein them in, according to Bloomberg's latest poll of professional and retail investors. [Extracted from the article]

(Bloomberg) -- Failed crypto exchange FTX Trading Ltd. lacked fundamental financial and accounting controls, stifled dissent within the company and joked internally about their tendency to lose track of millions of dollars in assets, according to a report by the company's debtors. FTX Failure Rooted in "Hubris", "Greed", Debtors Report Says The report is the first released by FTX debtors since Sam Bankman-Fried's digital-asset empire rapidly collapsed into bankruptcy in November, with billions of dollars in customer funds lost. [Extracted from the article]

The report is the first released by FTX debtors since Sam Bankman-Fried's digital-asset empire rapidly collapsed into bankruptcy in November, with billions of dollars in customer funds lost. (Bloomberg) -- Failed crypto exchange FTX Trading Ltd. lacked fundamental financial and accounting controls, stifled dissent within the company and joked internally about their tendency to lose track of millions of dollars in assets, according to a report by the company's debtors. FTX Failure Rooted in "Hubris" and "Greed", Debtors Report Finds. [Extracted from the article]

Prosecutors say Low gave Michel millions of dollars to put into Obama's campaign to boost his influence in the US. (Bloomberg) -- Grammy-winning rapper Pras Michel was driven by greed and "profited exorbitantly" as he sought to lobby the US government illegally on behalf of a financier accused of orchestrating the looting of billions of dollars from Malaysian development fund 1MDB, a prosecutor told jurors Thursday. [Extracted from the article]

Prosecutors say Low gave Michel millions of dollars to put into Obama's campaign to boost his influence in the US. Michel, 50, a member of the hip-hop group the Fugees, went on trial this week in Washington, where he's accused of joining an illegal campaign to lobby President Donald Trump and the Justice Department to drop its investigation of the financier, Jho Low. [Extracted from the article]

Next to those staggering benchmarks of corruption, Ng pocketed $35.1 million, while Leissner, Goldman's former Southeast Asia chairman and Ng's former supervisor, made off with $73 million. Read More: Ex-Goldman Banker Ng Says Malaysian Jail Was "Absolute Hell" Ng's lawyer Marc Agnifilo said after the sentencing he will file an appeal. (Bloomberg) -- The 10-year prison sentence handed down to former Goldman Sachs Group Inc. banker Roger Ng shows the enormous risk he took by going to trial to fight charges that he helped carry out the massive 1MDB fraud. [Extracted from the article]

(Bloomberg) -- Roger Ng, the only Goldman Sachs Group Inc. banker tried and convicted in the global 1MDB scandal, was sentenced to 10 years in prison, a milestone in the prosecution of the massive fraud. "The government already sent its message to the world about Goldman when it accepted its money for a deferred prosecution agreement", Agnifilo wrote Wednesday in urging leniency for Ng. [Extracted from the article]

"This is the same old story - corporations do stock buybacks, they do big dividend checks, and they lay off workers", Brown said on CNN's "State of the Union" on Sunday. (Bloomberg) -- Ohio Senator Sherrod Brown said corporate maneuvers that favor shareholders and company executives are to blame for safety lapses leading up to a train derailment that spilled toxic chemicals in a town in his home state. [Extracted from the article]

"We think in particular in the US the corporate greed has just gone too far", Norges Bank Investment Management Chief Executive Officer Nicolai Tangen said in an interview on Bloomberg TV at the World Economic Forum in Davos. Corporate Greed "Gone Too Far", Norway's $1.3 Trillion Fund Says (Bloomberg) -- Norway's $1.3 trillion sovereign wealth fund is pushing back on companies offering some of the most extravagant pay packages to executives. [Extracted from the article]

Unanue's brush with political controversy started in July of 2020 during a visit to the White House where he announced that Goya would be making donations to US food banks as part of the Hispanic Prosperity Initiative and said the country was "truly blessed" to have President Trump as a leader. The comments didn't go over well with some of Unanue's colleagues in Goya management and several days later, the New York Post reported that Goya's board had voted to censure Unanue. A spokesperson for Goya didn't respond to a request for comment, nor did Robert's relative Andy Unanue, a board member and former chief operating officer of Goya. [Extracted from the article]

Keywords: ALLTOP; BUSINESS; COS; DIGITALCUR; INDUSTRIES; MARKETS; NORTHAM; TEC; TECSVC; TOP; US; WORLD; WWTOP; WWTOPAM EN ALLTOP BUSINESS COS DIGITALCUR INDUSTRIES MARKETS NORTHAM TEC TECSVC TOP US WORLD WWTOP WWTOPAM If trader sentiment is any guide, cryptocurrencies could snap back or at least stop selling off after one of their worst quarters in history. REJTWSDWLU68 (Bloomberg) -- If trader sentiment is any guide, cryptocurrencies could snap back or at least stop selling off after one of their worst quarters in history. In traditional markets, the Fear and Greed Index measures investor sentiment based on factors including volatility momentum and demand. [Extracted from the article]

(Bloomberg) -- Bears are dominating price action in the pound even morethan in the early days of the Covid-19 pandemic. A weekly measure of thefear-greed indicator is at the most bearish level in four years. [Extracted from the article]

(Bloomberg) -- Treasury Secretary Janet Yellen rejected the idea thatcorporate greed is causing the US inflation surge, differing with fellowDemocrats who have accused big businesses of price gouging. "Demand and supply is largely driving inflation", Yellen said at a NewYork Times hosted event on Thursday, when asked about the view thatcorporate greed is a key cause. [Extracted from the article]

(Bloomberg) -- Gucci is arguably one of the most recognizable names in luxury, but how that famous name got that way is a century-long saga. It stretches from the blossoming of a retail empire that eventually spanned the globe to overexposure and a bitter family battle that almost destroyed it all. But the real story of Gucci and the wildly successful Italian family for whom the brand was named is much more complicated. [Extracted from the article]

(Bloomberg) -- The Chinese government's pledge of support for embattled developers ignited a frenzied rush for stocks and bonds. Cash-strapped Kaisa Group Holdings Ltd., which defaulted late last year, unveiled a strategic tie-up this week with a state-controlled builder and one of China's major bad-debt managers, spurring a rally in the developer's dollar bonds. [Extracted from the article]

Cash-strapped Kaisa Group Holdings Ltd., which defaulted late last year, unveiled a strategic tie-up this week with a state-controlled builder and one of China's major bad-debt managers, spurring a rally in the developer's dollar bonds. (Bloomberg) -- The Chinese government's pledge of support for embattled developers ignited a frenzied rush for stocks and bonds. [Extracted from the article]

Leissner spent 10 days testifying as the government's key witness against Ng, the only Goldman banker go to trial in the international 1MDB scandal, for which the bank paid more than $5 billion in penalties. In closing statements Monday in federal court in Brooklyn, New York, Ng's lawyer Marc Agnifilo said it was Leissner who helped Malaysian financier Jho Low carry out the massive fraud, but he named Ng as his co-conspirator after he was arrested by the U.S. in 2018. (Bloomberg) -- Former Goldman Sachs Group Inc banker Tim Leissner implicated his ex-colleague Roger Ng in a scheme to loot billions of dollars from Malaysia's 1MDB fund because he wanted "to close the biggest deal of his life" and avoid prison, Ng's lawyer told a jury. [Extracted from the article]

(Bloomberg) -- Former Goldman Sachs banker Roger Ng joined a global scheme to steal billions of dollars from Malaysia's 1MDB fund for both "glory and greed", a prosecutor told the jury at his foreign-bribery trial. Leissner, who pleaded guilty and testified against Ng, had told the jury he made more than $60 million and paid Ng over $35 million. Ex-Goldman Banker Driven by "Glory" of Making Partner and "Greed", U.S. Tells Jury. [Extracted from the article]

Leissner, who pleaded guilty and testified against Ng, told the jury he made more than $60 million and paid Ng over $35 million. Ex-Goldman Banker Driven by "Glory" of Making Partner and "Greed", U.S. Tells Jury (Bloomberg) -- Former Goldman Sachs banker Roger Ng joined a global scheme to steal billions of dollars from Malaysia's 1MDB fund for both "glory and greed", a prosecutor told the jury at his foreign-bribery trial. [Extracted from the article]

It would be "foolish" to think that the downturn in public markets will be capped at a few months given the current economic environment and the historically long bull run that came beforehand, said Leone. (Bloomberg) -- The ongoing tech downturn has shifted investor sentiment from greed to fear, with late-stage venture capital funds pulling back activity as risks to the economy mount, according to a senior executive at Sequoia Capital. [Extracted from the article]

Read More:Summers Says Fed Will Need to Hike to 4%-5% to Beat Inflation, Summers Faults Biden for Tying Inflation to Putin, Company Greed ©2022 Bloomberg L.P. Summers Says Fed Policy Is "Triumph of Hope Over Experience" (Bloomberg) -- Larry Summers, President Emeritus at the Kennedy School of Government and former U.S. Treasury Secretary, continued his criticism of Federal Reserve policy by calling the notion of the country having unemployment at 3.5% and sharply falling inflation for the first time "the triumph of hope over experience and analysis" in a series of tweets. [Extracted from the article]

(Bloomberg) -- Former Treasury Secretary Lawrence Summers criticized the Biden administration's emphasis on Russian President Vladimir Putin's invasion of Ukraine and on price gouging by companies in ascribing causes for the surge in U.S. inflation. "If higher prices of gasoline are the price of freedom, it is a price that this generation of Americans should pay", Summers also said. [Extracted from the article]

Ng told Leissner that his take would've been greater than his annual bonus at Goldman, Leissner testified. (Bloomberg) -- Goldman Sachs Group Inc.'s dirty laundry has been airing in a New York courtroom, from a fast-escalating racket to loot Malaysia's wealth fund to the handsome compensation given a high-flying grifter. [Extracted from the article]

(Bloomberg) -- Former Treasury Secretary Lawrence Summers said that the White House is getting it wrong on the causes of high inflation and that attempts to blame it on "corporate greed" only increase the risk that a recession will be needed to tame surging prices. Read more: Inflation Risks Getting Sticky as Big Firms Flex Pricing Power Summers said Deese is "wrong" in his focus on supply-side issues behind inflation. [Extracted from the article]

Chinese Vice President Wang Qishan said China will keep opening to foreign investment, and stressed the importance of ties with America. Most Google services have been kept out of China, and while Pichai doesn't see that changing, he believes the U.S. and China have room to cooperate in areas like climate change and AI safety. Others speaking on Wednesday include Sundar Pichai, chief executive officer of Google parent Alphabet Inc.; and Lee Hsien Loong, prime minister of Singapore. (Bloomberg) -- China's growing role on the world stage, climate change, and economic questions from inflation to cryptocurrencies were in focus as global leaders of government, finance and industry gathered at the Bloomberg New Economy Forum in Singapore. [Extracted from the article]

Hong Kong Solomon said that this was his first visit to Asia since early 2020, but that he has no plans to visit China and Hong Kong. "I think China wants to grow its capital markets, they want more listing activity in Hong Kong and onshore", Solomon said. [Extracted from the article]

Facebook Prioritizes "Greed" Over Children, Senators Say (Bloomberg) -- Facebook Inc.'s head of global safety faced tough questions from lawmakers who accused the company of prioritizing profit and growth over the health of its youngest users. Senator Richard Blumenthal said Facebook has "chosen growth over children's mental health and well-being, greed over preventing the suffering of children.". [Extracted from the article]

The so-called fear-greed indicator shows bears control price action by the most in two months, threatening a bullish trend channel that's been in place since July. (Bloomberg) -- The pound is testing a key support level ahead of monetary policy decisions this week by the Federal Reserve and the Bank of England. [Extracted from the article]

Kakao Corp. founder Brian Kim has pledged to abandon the high-growth model that made his social media platform successful in response to criticism of its dominance and perceived greed. Kim has promised 300 billion won ($256 million) to support smaller merchants and is considering exiting businesses that compete with local shops. Kakao will focus on creating "social value" in areas like education. The company's concessions come amid scrutiny of the role played by Kakao and other internet giants in Korea's economy, with concerns raised about their impact on privately owned businesses. Kakao plans to establish a new fund over the next five years and expand its overseas presence. South Korea has been taking steps to regulate tech firms, similar to China's crackdown, due to concerns about their power and valuations. Lawmakers have warned against market dominance and urged fair competition. The criticism has also affected Kakao's IPO plans for its ride-hailing and payment arms. [Extracted from the article]

Kakao Corp., South Korea's social media leader, has pledged 300 billion won ($256 million) to support smaller merchants and will exit businesses that compete with local mom-and-pop shops. This move comes in response to criticism from lawmakers who view Kakao as a symbol of greed. The company plans to establish the fund over the next five years and expand its presence in North America, Southeast Asia, and Japan. South Korean regulators and politicians have expressed concerns about the power and valuations of internet firms like Kakao, Naver Corp., and Coupang Inc. following a surge in internet activity during the pandemic. [Extracted from the article]

(Bloomberg) -- The writer of Jefferies LLC's weekly "Greed & Fear" newsletter has advice for both the greedy and fearful. Christopher Wood, global head of equity strategy, says there's still juice left in a stock rally that's driven gains of 20% in the S&P 500 this year. [Extracted from the article]

Christopher Wood, global head of equity strategy, says there's still juice left in a stock rally that's driven gains of 20% in the S&P 500 this year. Read more: BofA's Subramanian Dumps Dire S&P 500 Call After Big Rally For now, Wood's ideal portfolio has no place for the bonds of Group-of-Seven nations. (Bloomberg) -- The writer of Jefferies LLC's weekly "Greed & Fear" newsletter has advice for both the greedy and fearful. [Extracted from the article]

Christopher Wood, global head of equity strategy, says there's still juice left in a stock rally that's driven gains of 20% in the S&P 500 this year. Read more: BofA's Subramanian Dumps Dire S&P 500 Call After Big Rally For now, Wood's ideal portfolio has no place for the bonds of Group-of-Seven nations. (Bloomberg) -- The writer of Jefferies LLC's weekly "Greed & Fear" newsletter has advice for both the greedy and fearful. [Extracted from the article]

Andurand, founder of London-based hedge fund Andurand Capital Management LLP, says it makes sense that Ek's expertise in trading power and natural gas would point him to the carbon market. During his regular walks with Dollar, by Bishop's Pond or past King Henry's Mound, Ek puzzled over something that initially had made him hesitate to bet on carbon's rise: As the EU discussions progressed, the market had barely moved, and that didn't make sense. When the market launched, Ek bought contracts for electricity that would let him gain if the emissions price rose. (Bloomberg Markets) -- Anytime Ulf Ek needs to think, he goes for a walk in London's Richmond Park with Dollar, a -Maltese-Yorkie mix. [Extracted from the article]