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  • Aug 08, 2024

Exclusive-Western insurers provide cover for Russian oil despite price cap concerns

A group of Western insurers have provided cover for tankers carrying Russian crude, keeping its oil flowing after many in the trade sector withdrew for fear of breaching the rules of a G7 price cap, data from traders and shippers shows. The data seen by Reuters showed that five insurers, including American Club, Luxembourg-headquartered West of England and Norway's Gard, provided cover for 10 tankers that sailed from Russia to Asia this year. American Club and West of England provided insurance for two vessels - the Gioiosa and the Orion I - that made similar voyages in early 2024.

  • Aug 07, 2024

Crypto Inches Upwards Again as Ripple Ruling Lifts Mood

(Bloomberg) -- Major cryptocurrencies ticked upwards on Thursday after Ripple Labs Inc. was ordered to pay a $125 million penalty — an outcome the firm framed as a victory over the US Securities and Exchange Commission. Most Read from BloombergAfrica’s Richest City Needs $12 Billion to Fix InfrastructureNew York City’s Outdoor Dining Sheds Will Start DisappearingNew York City Paid $2 Million for Empty Hotel Rooms Meant for MigrantsNYC Subway Riders See ‘Exceptionally High’ Air PollutionThe 5 Coa

  • Aug 07, 2024

ION Analytics Shelves $500 Million Loan Deal Amid Market Swings

(Bloomberg) -- ION Analytics, a unit of Andrea Pignataro’s ION Group, has pulled the plug on a $500 million leveraged loan deal it had been marketing to investors since late July, in a sign of persisting jitters in credit markets.Most Read from BloombergAfrica’s Richest City Needs $12 Billion to Fix InfrastructureNew York City’s Outdoor Dining Sheds Will Start DisappearingThe 5 Coastal States That Face the Most Devastating Flood RiskNew York City Paid $2 Million for Empty Hotel Rooms Meant for M

  • Aug 07, 2024

Asian Stocks to Dip as US Bond Sale Saps Sentiment: Markets Wrap

(Bloomberg) -- Asian equities were set to drop Thursday after a weak Treasury auction dealt a fresh blow to sentiment on Wall Street.Most Read from BloombergAfrica’s Richest City Needs $12 Billion to Fix InfrastructureNew York City’s Outdoor Dining Sheds Will Start DisappearingThe 5 Coastal States That Face the Most Devastating Flood RiskNew York City Paid $2 Million for Empty Hotel Rooms Meant for MigrantsNYC Subway Riders See ‘Exceptionally High’ Air PollutionFutures contracts for Japan, Austr

  • Aug 07, 2024

Oil Extends Recovery Rally as Traders Wait for Iran Retaliation

(Bloomberg) -- Oil extended its biggest advance in a week as traders remain on edge over a possible retaliatory strike by Iran on Israel as payback for assassinations of Hezbollah and Hamas leaders.Most Read from BloombergAfrica’s Richest City Needs $12 Billion to Fix InfrastructureNew York City’s Outdoor Dining Sheds Will Start DisappearingThe 5 Coastal States That Face the Most Devastating Flood RiskNew York City Paid $2 Million for Empty Hotel Rooms Meant for MigrantsNYC Subway Riders See ‘Ex

  • Aug 07, 2024

Robinhood results beat estimates on meme-stock, crypto-trading boom

(Reuters) -Robinhood beat Wall Street expectations for second-quarter earnings on Wednesday, as interest in meme stocks and cryptocurrencies soared, and said it continued to gain retail trading market share from rivals. The app, typically associated with mom-and-pop investors, saw a surge in trading volumes as meme-stock influencer Keith Gill returned to social media and reignited interest in the highly shorted shares of videogame retailer GameStop. Robinhood's transaction-based revenue surged 69% to $327 million in the quarter.

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