Author: Press Room

Rodents strike back. Mayor Eric Adams’ war on rats took an ironic turn Tuesday when it was revealed that Hizzoner is facing a $300 fine for an infestation of the rodents at his Brooklyn property. News of the rat summons came after Adams last month promised to expunge the citywide rat population — or at least put a dent in it. But according to a city citation obtained by The Post, the mayor struggles with keeping his own Bedford Stuyvesant home vermin-free. The mayor was issued a summons by the city health department on May 10 at his brownstone on…

A trader works on the floor of the New York Stock Exchange (NYSE) in New York City, August 29, 2022.Brendan McDermid | ReutersAfter a tumultuous year for financial markets, Standard Chartered outlined a number of potential surprises for 2023 that it says are being “underpriced” by the market.Eric Robertson, the bank’s head of research and chief strategist, said outsized market moves are likely to continue next year, even if risks decline and sentiment improves. He warned investors to prepare for “another year of shaken nerves and rattled brains.”The biggest surprise of all, according to Robertson, would be a return to…

CNN  —  San Francisco officials voted Tuesday against a controversial measure that would have allowed police to deploy robots to use lethal force in extreme situations, reversing course after public outcry against the policy. The about-face from the San Francisco Board of Supervisors comes a week after the board voted to approve the policy in an initial first reading vote, which prompted a protest at City Hall Monday, with some holding signs that said, “NO KILLER ROBOTS!” On Tuesday, the board voted to remove text pertaining to robots and use of lethal force, according to Natalie Gee, the chief of…

Good morning. Did you see Alameda’s venture capital portfolio? The FTX-linked fund was seemingly doling out cash to anyone with a pulse. If you are the proprietor of a scantily regulated offshore hedge fund looking to throw money at a financial commentary newsletter: robert.armstrong@ft.com and ethan.wu@ft.com.The value rally has legsValue stocks have been absolutely killing growth stocks. Here’s a one-year chart of the Russell Growth and Value indices:Admittedly, it is hard to get rich outperforming by 20 per cent if the index you are outperforming is down by 25 per cent. That said, losing a little money is much better…

BEIJING — In a significant easing of Covid controls, the Chinese government said Wednesday that people will no longer need to show negative virus tests or health codes in order to travel between different parts of the country.Chinese authorities also said that unless an area is designated as high-risk, work and local production cannot be stopped.The announcement on the National Health Commission’s website formalized other recent changes to Covid controls, such as allowing more people to quarantine at home.The measures also said that other than facilities such as retirement homes, elementary and middle schools and health clinics, venues should not…

Financial crime regulator AUSTRAC is suing casino operator SkyCity over allegations of “serious and systemic non-compliance” with Australia’s anti-money laundering and counter-terrorism laws. The Australian’s Jared Lynch has discussed the Federal Court action with Sky News Australia. Source: Sky News

Bitcoin, the leading cryptocurrency, finally found support near the $16,900 level on December 7, which is being extended by an upward trendline. The second-most valuable cryptocurrency, Ethereum, is also supported above $1,240, a level that is extended by a double-bottom pattern visible in the 2-hour timeframe.Major cryptocurrencies traded in a mixed bag early on December 7, with the global crypto market capitalization falling 0.02% to $855.67 billion on the previous day. We will go over the technical outlook in detail later in this article, but for now, let’s look at the fundamentals of the market.Let’s take a look at the top…

Climate Energy Finance Director Tim Buckley says we have an unprecedented market failure amid a “cartel” involving three east coast gas producers.“We have an oligopoly of three east coast gas producers that control 90 plus per cent of the east coast gas production and reserves in Australia,” Mr Buckley told Sky News Australia. Mr Buckley said the ACCC has defined this “very, very clearly as an oligopoly”.“I will go one step further and call it a cartel because the definition of a cartel is a group of companies that extract monopoly rents from the public using their pricing power.“And we…

Former Liberal advisor David Gazard says the capping of power prices is only “one piece” of the puzzle. “Capping wholesale gas prices doesn’t necessarily mean that the gas companies will supply it into the domestic market when the price they can get overseas is much higher,” he told Sky News Australia. Source: Sky News

Former Labor advisor Eamonn Fitzpatrick says the “number one” priority is making sure we get “action” on power prices. “I think, obviously, there will be ongoing dialogue between the PM and the premiers,” Mr Fitzpatrick told Sky News Australia. Source: Sky News