Russia’s war on Ukraine has been disastrous for the global poor — millions of whom are living on the brink of famine — but the chaos has been a major boon for Wall Street giants.
— the chaos has been a major boon for Wall Street giants, according to new data showing that the world’s 100 largest banks are on pace to smash commodity trading profit records this year.BloombergFriday, citing figures from the London-based firm Vali Analytics. “That would be the highest in the data, which goes back 14 years, and exceed the previous high watermark in 2009.”
“The prediction is the latest evidence that the wild swings in energy prices triggered by the war in Ukraine are delivering a boon to commodity traders, even as they push European nations into crisis,”added. “Vali, an analytics firm that tracks trading business, compiled data that includes the leading five banks in commodity trading: Macquarie Group Ltd., Goldman Sachs Group Inc., JPMorgan Chase & Co., Citigroup Inc., and Morgan Stanley.
Though the prices of wheat and other food staples have fallen from their peak in recent months, they remain significantly elevated compared to last year, the United Nations’ Food and Agriculture Organization, leaving millions vulnerable to hunger and starvation.that “as many as 828 million people go to bed hungry every night” and “the number of those facing acute food insecurity has soared — from 135 million to 345 million — since 2019.”
Canada Latest News, Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Wall Street pro predicts when the S&P 500 will rally — and reveals how to trade itMarket volatility is here to stay, according to market veteran Phil Blancato. He names his top stock picks — and predicts when stocks will rally.
Read more »
Asian markets rise as Wall Street looks to break 3-week losing streakAsian benchmarks mostly rose Thursday, as investor optimism got a perk from a rally on Wall Street that's on track to break a three-week losing streak.
Read more »
European Markets Set to Rebound After Wall Street Rally; ECB ‘Jumbo' Rate Hike a PossibilityEuropean markets are heading for a higher open on Thursday following a rebound on Wall Street that lifted global sentiment.
Read more »
Printemps positions itself on Wall Street with forthcoming locationFrench luxury retailer Printemps has announced the opening of a brand new store in New York.
Read more »
Wall Street Giants Set to Smash Profit Records Off Global Hunger, Energy Crisis'People's misery makes capitalists' superprofit.'
Read more »
Stock Market Today Live: Dow Gains Over 300 Points, U.S Stocks Snap Three Straight Weeks of LossesA broad rally in stocks helped the major U.S. indexes post weekly gains, snapping three straight weeks of losses
Read more »