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Tag Archives: global

Global banks bracing for losses amid US hedge fund collapse

The sudden liquidation of the New York-based billionaire Bill Hwang’s Archegos Capital Management ignited a fire sale of more than $20 billion in assets that has left some of the world’s biggest investment banks bearing billions of dollars of losses. According to billionaire investor Mike Novogratz, the collapse of Hwang’s …

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Traffic jam at Suez Canal sends global shipping costs soaring

The traffic jam has trapped freighters with goods and oil products worth over $10 billion, according to the latest estimates by Bloomberg. The agency added that the losses the global economy will eventually sustain are currently difficult to access. The cost of delivering a standard dry-cargo container with a total …

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