City Chicago Financial News

Amid the United States Securities and Exchange Commission (SEC) delaying a decision on Ark Investment Management’s spot Bitcoin (BTC) exchange-traded fund, the firm has proposed an investment vehicle with exposure to Ether (ETH).

A former DRW Holdings LLC trader and research analyst was accused in a lawsuit of stealing proprietary computer code used in the firm’s quantitative strategies.

Former Fox News host Tucker Carlson has shared a clip of his upcoming interview with con artist Larry Sinclair who had alleged that he saw former United States President Barack Obama smoking crack before engaging in sexual activities with him in 1999 when he was a state senator. Larry Sinclair had made the same allegations years ago in 2008 but they were largely dismissed by the US media as Barack Obama.

On Wednesday, Bitcoin saw a modest uptick, trading at $25,798, marking a nearly 0.50% increase. The financial landscape is buzzing with anticipation as Davis Polk, a prominent grayscale legal firm, ardently advocates for the SEC's approval of the Bitcoin spot ETF. 

Crypto asset manager Grayscale’s legal team has sent a letter to the US Securities Exchange Commission (SEC) asking the agency to move ahead with its proposed Spot Bitcoin BTF and meet its staff as soon as practical. 

(Reuters) — Kroger (NYSE:KR) and Albertsons Companies Inc are in talks to sell some grocery stores to C&S Wholesale Grocers to obtain regulatory approval for their $25 billion merger, Bloomberg News reported on Tuesday, citing people familiar with the matter.

Investing.com-- Gold prices fell Tuesday as the U.S. currency and bond yields remained firm before a string of Federal Reserve speakers this week. 

ASX-listed can and bottle maker Orora launched a $1.345 billion equity raising on Tuesday morning, split across a $450 million institutional placement and an $895 million rights issue.

A dispute between Disney and Charter Communications has left nearly 15 million Spectrum TV cable television subscribers without some of their favorite networks

Investing.com — The U.S. dollar edged lower in early European trade Monday, in thin holiday-affected volumes as traders continued to digest last week’s mixed U.S. jobs report and the possible impact on thinking at the Federal Reserve ahead of this month’s policy-setting meeting. 

Investing.com — After Friday’s jobs report cemented expectations that the Federal Reserve will keep interest rates on hold later this month, the economic calendar will be lighter in the coming holiday-shortened week. Stocks go into September after notching up strong weekly gains last week, while data out of China will likely add to concerns over the outlook for the world’s number two economy. The Reserve Bank of Australia will likely stand pat for a third straight meeting and supply worries look set to underpin oil prices.

Power Book IV: Force" is returning for Season 2 on Starz. Fans can catch the new episodes of this crime series starting from September 1. «Power» was a successful show on Starz. It followed James Patrick (Omari Hardwick), a New York club owner known as «Ghost,» who was also a significant drug dealer. The story included James having an affair with his former flame Lela, who was secretly a federal prosecutor targeting Ghost. His loyal friend Tommy Egan (Joseph Sikora) also played a part. After the main series ended with James' death, Starz expanded it into a franchise. «Book II: Ghost» continued the story with James' family moving forward, and «Book III: Rise of Kanan» explored the rise of Kanan (Curtis «50 Cent» Jackson) in the drug trade during the 1990s.

The Chicago Mercantile Exchange (CME) introduced its Bitcoin (BTC) futures contract in December 2017. This was around the same time that BTC had reached an all-time high of $19,800, but by late 2018 the price had dropped to $3,100. Investors in cryptocurrencies quickly learned that CME derivative contracts allowed them to make bullish bets with leverage, but also enabled them to bet against the price, a practice known as shorting.

California judge is poised to decide if an online lender offering small loans at over 150% interest violates state law, which would deal a blow to finance companies that critics argue have skirted rate caps to profit from cash-strapped borrowers. The California Department of Financial Protection and Innovation (DFPI) is seeking a ruling that would block Chicago-based Opportunity Financial (OppFi) from offering loans with an interest rate above California's maximum of 36%. Los Angeles Superior Court Judge Timothy Dillon is expected to rule any day. Legal experts say that if California wins, it could embolden other states to take action against lenders that make high-interest loans to low-income borrowers using what critics call «rent a bank» partnerships. Critics say the partnerships allow some fintech lenders, which offer quick loans online, to get around the interest-rate caps most states impose on nonbanks by partnering with banks in states like Utah, where there is no interest rate cap. The lenders themselves say the partnerships help smaller state banks compete and fill a void for borrowers with low credit scores who need emergency cash for unexpected expenses like car repairs and medical care. According to a 2022 survey by the Federal Reserve, 37% of adults in the U.S.

Atlas Arteria chief executive Graeme Bevans says the tollroad group is benefiting from inflation as rising toll fares helped lift its interim net profit by 17 per cent to $136.5 million.

In a major win for progressive Texas cities, a district judge in Texas on Wednesday ruled that a controversial new state law targeting local regulations is unconstitutional

air pollution, according to the Air Quality Life Index report of the Energy Policy Institute at University of Chicago. Delhi residents are most at risk. They’re losing 11.9 years to the capital’s pollution levels exceeding the safety limit prescribed by the World Health Organization (WHO).

©2023/project syndicate Raghuram G. Rajan is a professor of finance at the University of Chicago Booth School of Business and former governor of the Reserve Bank of India

Wealth management firm Bernstein has said that the recent Grayscale victory over the Securities and Exchange Commission (SEC) will pave the way for a spot Bitcoin (BTC) ETF approval.

Retail broker Robinhood has reportedly ended its crypto business relationship with market maker Jump Trading, and the regulatory environment in the US may be a reason.  

Digital asset management firm, Grayscale wins its highly anticipated case against the Securities and Exchange Commission (SEC) over the latter’s rejection of the firm’s spot Bitcoin (BTC) ETF application.