The US appeals court rejects Biden’s bid to revive student debt plan

Nov 30 (Reuters) – A federal appeals court on Wednesday refused to stay the ruling of a Texas judge who said President Joe Biden’s plan to cancel hundreds of billions of dollars in student loans was illegal. The New Orleans-based 5th U.S. Circuit Court of Appeals rejected the Biden administration’s request to suspend a judge’s … Read more

Stocks and oil rise on hopes of loosening COVID curbs in China

Euro STOXX 600 up 0.4% Oil prices recover on China’s hopes, production cuts talk Dollar falls as investors look for riskier assets China real estate stocks rise on policy support LONDON/SYDNEY, Nov 29 (Reuters) – Stocks and oil gained on Tuesday on hopes public unrest in China could lead to an earlier easing of … Read more

Cryptocurrency lender BlockFi is filing for bankruptcy in New Jersey

Filing follows weeks after FTX collapse FTX listed as number 2 creditor of BlockFi Bitcoin is down more than 70% from its 2021 peak Nov 28 (Reuters) – Major cryptocurrency lender BlockFi along with eight affiliates have filed for Chapter 11 bankruptcy protection, it said Monday, the latest crypto victim after the spectacular collapse of … Read more

Oil prices erase 2022 gains as protests in China raise demand concerns

WTI is lowest since December 2021, Brent lowest since January 2022 Clashes in Shanghai as COVID protests flare up across China Investors are focusing on the next OPEC+ meeting on December 4 Nov 28 (Reuters) – Oil prices fell close to their year-to-date lows on Monday as street protests against strict COVID-19 restrictions in China, … Read more

Twitter CEO Musk says user sign-ups are at all-time high, praises “everything app” features

Nov 27 (Reuters) – Elon Musk, Chief Executive of Twitter Inc, says new user signups on the social media platform are “all-time high” as he grapples with a mass exodus of advertisers and users fleeing to other platforms because of concerns about verification and hate speech. As of Nov. 16, there have been an average … Read more

Bright light from black holes caused by particle shock waves • The Register

Scientists have reported a “massive leap forward” in understanding light and other electromagnetic radiation emitted from black holes using NASA’s newly deployed $188 million space telescope IXPE. Electron beams collide with slower-moving particles, creating a shock wave that results in electromagnetic radiation across frequency bands from X-rays to visible light, according to a research paper … Read more

Musk says Twitter will launch gold, gray diamonds next to blue verified brand

Nov 25 (Reuters) – Twitter will roll out verified gold and gray checks on the relaunch of the coveted blue check service this Friday, CEO Elon Musk said in a tweet, after delaying the rollout earlier this week. “Gold check for corporations, gray check for governments, blue check for individuals (celebrities or not). Painful, but … Read more

Foxconn’s woes are taking a greater toll on China’s giant iPhone factory as more workers leave – source

Foxconn Zhengzhou factory shipments will fall further in November – source The misfortune of workers at the factory escalated into protests this week More than 20,000 workers, mostly new recruits, have left – source TAIPEI, Nov. 25 (Reuters) – Foxconn’s (2317.TW) flagship iPhone factory in China will further cut deliveries in November amid the latest … Read more

Oil muted as price cap proposal eases supply concerns

G7 price cap on Russian oil could be above current trade levels EIA data on gasoline stocks show higher-than-expected build COVID-19 controls tighten in China Nov 24 (Reuters) – Benchmark Brent oil fell lower on Thursday as West Texas Intermediate (WTI) crude held steady, floating within sight of two-month lows as the level of a … Read more

Six states are urging the US Supreme Court to block Biden student debt relief

Nov 23 (Reuters) – Six states on Wednesday asked the US Supreme Court to reject President Joe Biden’s request to reinstate his plan to cancel billions of dollars in student debt, which they claimed exceeded the authority of his administration. The states — Arkansas, Iowa, Kansas, Missouri, Nebraska and South Carolina — filed a response … Read more