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U.S. Redbook retail sales annualized for the week ending November 7 were 5.9%, compared to 5.7% previously.November 11th - According to DNB data, European natural gas demand rose in October due to falling temperatures. Last month, demand increased by 7%, primarily driven by higher gas-fired power generation and increased residential and commercial consumption. Meanwhile, natural gas supply increased by 1% in October, with liquefied natural gas (LNG) imports in Northwest Europe rising by 42%. Analysts at the company stated, "High levels of LNG imports are needed to balance the market amid surging demand and persistently low European gas inventories." European gas inventories are currently at 82.5%, below the ten-year average. The benchmark natural gas TTF price fell 0.2% to €31.01 per megawatt-hour.Novo Nordisk (NVO.N) has reduced the price of its weight-loss drug Wegovy by up to 33% in India.On November 11th, economists at ABN AMRO stated in a report that the politicization of US institutions and pressure on independent agencies under the Trump administration pose a risk to the dollars dominance as the global reserve currency. They pointed out that the decline of US institutions has continued rapidly since the beginning of the year, raising serious concerns about the reliability of the dollar reserve system. The White House is firing oversight agencies, prosecuting political opponents, dismantling regulation, and restructuring institutions in a deeply partisan manner. They stated that this raises questions about whether the US can continue to maintain its rule-abiding, diversified institutions and strong markets—factors that attract investment to the US and support the dollar.On November 11, a Turkish prosecutor called for a more than 2,000-year prison sentence for Istanbul Mayor Ekrem Imamoglu in a corruption case, potentially barring President Erdogans strongest challenger from running in the next presidential election. The 3,900-page indictment names 402 suspects and describes Imamoglu, the most prominent opposition figure, as the "founder and leader of a criminal organization." Charges include bribery and accepting bribes. Following the news, the Turkish stock market plummeted, with Istanbuls benchmark index falling 3.1% by the afternoon local time. The index is heading for its biggest one-day drop since early September.

Major media want to know who guaranteed Sam Bankman-Fried’s $250 million bond

Cory Russell

Jan 13, 2023 15:38

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Saying the public interest “cannot be overstated,” lawyers for the outlets, including Reuters, said the public’s right to know Bankman-Fried’s guarantors outweighed their privacy and safety rights.


In a letter to U.S. District Judge Lewis Kaplan in Manhattan, the lawyers distinguished the case from another judge’s December 2020 decision not to reveal who guaranteed a bond for British socialite Ghislaine Maxwell, then accused and later convicted of aiding in financier Jeffrey Epstein’s sex crimes.


“While Mr. Bankman-Fried is accused of serious financial crimes, a public association with him does not carry nearly the same stigma as with the Jeffrey Epstein child sex trafficking scandal,” lawyers for the outlets wrote.


Media seeking to identify Bankman-Fried’s sureties also include the Associated Press, Bloomberg, CNBC, Wall Street Journal publisher Dow Jones, the Financial Times, Insider and the Washington Post. The New York Times has asked separately for the names.


A spokesman for Mark Cohen and Christian Everdell, who represent Bankman-Fried, declined to comment. Cohen and Everdell also represented Maxwell in her criminal case.


In seeking to keep the sureties’ names under wraps, Bankman-Fried’s lawyers said their client’s parents, who co-signed the $250 million bond, had been harassed and received physical threats since FTX’s early November collapse and bankruptcy.


The lawyers said there was “serious cause for concern” the additional sureties might suffer similar treatment if their names went public.


Bankman-Fried has pleaded not guilty to criminal charges that he looted billions of dollars at FTX, in part by diverting customer deposits to support his Alameda Research hedge fund, buy real estate, and make political donations.


His parents, Joseph Bankman and Barbara Fried, are Stanford Law School professors. Bankman, who has not been accused of wrongdoing, has hired his own lawyer in the case, according to a person familiar with the matter.

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