Bitget, a leading cryptocurrency exchange and Web3 company, announced its Protection Fund valuation for October 2024, highlighting its commitment to safeguarding user assets and financial stability. Despite market fluctuations, the fund maintained an average value of $424 million, exceeding its initial value of $300 million. This demonstrates Bitget’s dedication to providing a secure environment for users in the volatile crypto market.
Renowned hedge-fund manager George Soros’s decades-old warning about unsustainable U.S. public finances has resurfaced amid today’s market boom. The U.S. public debt is projected to surpass its post-World War Two record in 2027, and a potential Republican majority in Congress could exacerbate the situation. The global public debt is also projected to reach alarming levels, adding to the growing concerns about financial stability.
The November full moon, known as the Beaver Moon, arrives on November 16th at 6:30 AM. This lunar event invites us to reflect on our financial and material stability, as it falls in the sign of Taurus. While the influence of Uranus may bring unexpected twists and turns, the harmonizing energy of Neptune encourages us to embrace our dreams and envision a brighter future.
SpiceJet has received a significant boost with Acuité Ratings & Research Limited upgrading its long-term credit rating by four levels to B+ and its short-term rating to A4. This upgrade reflects the airline’s improved financial stability and commitment to strategic growth, enabling it to expand its fleet and enhance passenger experience.
After a year of significant spending and layoffs, Epic Games, the company behind Fortnite and the Unreal Engine, is now financially sound. CEO Tim Sweeney announced at Unreal Fest 2024 that the company has rebounded, with Fortnite reaching new heights and the Epic Games Store setting revenue records.
Indian low-cost airline SpiceJet has successfully resolved a $16.7 million dispute with Engine Lease Finance Corporation (ELFC), a crucial step towards stabilizing its finances. The settlement follows a recent successful Qualified Institutional Placement (QIP), which injected much-needed liquidity into the airline. While this is positive news, SpiceJet still faces other outstanding claims and will need to address them to ensure its long-term financial stability and growth.
Former IMF chief economist and ex-RBI governor Raghuram Rajan has called on global central banks to increase their intervention thresholds, citing concerns about financial sector leverage and potential instability. His advice follows Jerome Powell’s recent speech at Jackson Hole, where the Fed Chair hinted at potential interest rate cuts. Rajan acknowledges the Fed’s success in curbing inflation but warns of risks associated with rising inflation in services and housing. He emphasizes the need for central banks to be more proactive in preventing financial crises, comparing it to managing forest fires where small interventions can prevent larger disasters.
A new study by researchers at Pusan National University reveals that investments in clean energy can act as a stabilizing force during fluctuating market conditions. By analyzing the interactions between clean energy indices and major international stock markets, the study demonstrates how clean energy assets can provide resilience and mitigate risks during economic turbulence.
Today’s news features a mix of business, politics, and international affairs. India Cements shares are on a strong upward trend, while the RBI reports a positive economic outlook. The US expresses concerns about religious freedom in India, and the IMD forecasts heavy rainfall in parts of the country.
Despite a tumultuous season marked by point deductions, a takeover saga, and the loss of a chairman, Everton has secured their 71st consecutive season in the Premier League. Manager Sean Dyche’s steady leadership, the resilience of the players, and the unwavering support of the fans have been instrumental in this achievement. However, the ownership issue remains unresolved, casting doubt over the club’s long-term stability. Tough decisions and a well-executed business plan will be crucial for Everton to reverse their decline and regain their former glory.
