Fintoverse

12/03/2023

The recent failure of SVB Financial has raised concerns about the stability of the US banking system. Our analysis has highlighted the implications for depositors and the need for effective regulation. Check out this article for proposed solutions to prevent future failures and safeguard the stability of the banking system. What do you think? Share your thoughts in the comments!

The failure of SVB Financial has highlighted the potential risks associated with uninsured deposits and need for effective regulation of the US banking system.

09/03/2023

SVB Financial Group $SIVB's massive loss and outflow of deposits have triggered a selloff in bank shares and raised concerns about the fragility of the financial system.

SVB Financial Group $SIVB, the parent of Silicon Valley Bank, has experienced a significant decline in its share price, which has triggered a massive selloff in the bank shares. Investors have been dumping their shares in the bank after it announced that it lost nearly $2 billion selling assets, fol...

24/08/2022

Adrienne Nice woke up early on the morning of July 25 to news she’d been dreading. The power company, Xcel Energy Inc., had shut off the electricity to the small Minneapolis apartment she shares with her teenage son, just as a heat wave was bearing down on the city.

Nice had been struggling financially ever since the pandemic hit, racking up more than $3,000 in past-due utility bills. The warnings she’d gotten on her monthly statement—“FINAL NOTICE” scrawled in big, bold letters—had prepared her to some degree, but it was still jarring to find the fridge dark and the air conditioner silent. With temperatures set to reach 95F (35C) in the coming days, she needed the power back on, and fast.

02/08/2022

https://www.bloomberg.com/news/articles/2022-07-31/from-profits-to-pay-jpmorgan-s-gold-secrets-spill-out-in-court?srnd=premium-middle-east

The trial of JPMorgan Chase & Co.’s former head of precious metals has offered unprecedented insights into the trading desk that dominates the global gold market.

02/08/2022

Bangladesh faces another three years of rolling power cuts as the developing nation struggles to secure long-term supplies of natural gas and is priced out of spot markets.

The South Asian country stopped purchasing spot liquefied natural gas cargoes in June because of volatile prices, and is considering sourcing more long-term supplies, Nasrul Hamid, the state minister for power, energy and mineral resources, said in an interview. However, producers including Qatar have indicated that they will only sell more contracted volumes from 2026, he said.

19/06/2022

Oil markets are in backwardation, a bullish pattern in which near-term prices trade above longer-dated ones, indicating tight supplies. Brent’s prompt spread -- the difference between its two nearest contracts -- was $2.71 a barrel in backwardation on Monday compared with $2.56 a month ago.

19/06/2022

https://www.bloomberg.com/news/articles/2022-06-06/oil-shock-is-proving-far-more-devestating-for-poorer-nations

Developing nations are suffering the biggest hit from this year’s oil shock. Many are dependent on imported fuel and are being crushed by a combination of high international prices, weak currencies and competition from rich nations whose economies are rebounding from the pandemic.

19/06/2022

Sri Lanka, Laos, Nigeria and Argentina are among emerging economies in Asia, Africa and Latin America that have seen long queues at some filling stations in the past weeks because of fuel shortages.

Many governments are faced with the dilemma of either cushioning the blow of higher prices by increasing subsidies or lowering taxes – both of which hurt state finances – or allowing fuel prices to increase and risking the anger of consumers and businesses that can’t afford the extra cost.

Developing nations are suffering the biggest hit from this year’s oil shock. Many are dependent on imported fuel and are being crushed by a combination of high international prices, weak currencies and competition from rich nations whose economies are rebounding from the pandemic.

19/06/2022

https://www.bloomberg.com/news/articles/2022-06-19/massive-oil-refining-capacity-idle-in-china-even-as-prices-soarIn the regional oil hub of Singapore, the profit from turning oil into diesel has surged to above $60 a barrel from around $10 at the beginning of the year. That translates to a potential windfall of as much as $372 a ton that Chinese refiners are missing out on, according to local industry consultant OilChem.

Beijing’s unwillingness to ramp up fuel output and act as a swing producer in times of global shortages is being felt by everyone from US motorists facing pain at the pump to European factories bidding for scarce diesel cargoes. But the most detrimental impacts are in China’s Asian neighbors, in countries like Sri Lanka and Pakistan where fuel shortages are crippling their economies.

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16/06/2022

https://www.bloomberg.com/opinion/articles/2022-06-16/australia-s-power-grid-is-being-cornered-by-its-own-generators?srnd=premium-asiaIn

In commodity markets, there are few phenomena more feared than a corner.

If a few traders become too dominant, they can at times set prices at will by withholding supply, driving values to ridiculous levels. That’s what happened when the Hunt brothers cornered the market in silver in 1980, sending it to prices that are still a record. In equity markets, short squeezes like the one that caused Volkswagen AG to briefly become the world’s most valuable company in 2008 also represent a sort of corner.

Electricity is essential infrastructure — but it’s being held to ransom by a dying coal industry.