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On December 24th, President Trump signed an executive order closing U.S. federal government agencies for three days from December 24th to December 26th. As a result, the U.S. Energy Information Administration (EIA) has postponed its weekly crude oil and natural gas inventory data releases to 11:30 PM on Monday, December 29th, and 1:00 AM on Tuesday, December 30th, respectively. Additionally, U.S. initial jobless claims data will be released earlier than scheduled due to the Christmas holiday, at 9:30 PM today, December 24th. Investors are advised to take note.The Hang Seng Index closed up 44.79 points, or 0.17%, at 25,818.93 on Wednesday, December 24; the Hang Seng Tech Index closed up 10.41 points, or 0.19%, at 5,499.3; the H-share Index closed up 1.29 points, or 0.01%, at 8,915.12; and the Red Chip Index closed up 1.53 points, or 0.04%, at 4,069.06.The UK FTSE 100 index opened down 5.87 points, or 0.04%, at 9882.65 on Wednesday, December 24; the French CAC 40 index opened up 8.03 points, or 0.09%, at 8111.39 on Wednesday, December 24; the Euro Stoxx 50 index opened up 7.97 points, or 0.14%, at 5751.66 on Wednesday, December 24; and the Spanish IBEX 35 index opened down 22.01 points, or 0.14%, at 17157.69 on Wednesday, December 24.On December 24th, the Central Commission for Discipline Inspection of the Communist Party of China issued a "Notice on Strengthening Discipline and Conduct During the 2026 New Years Day and Spring Festival Holidays." The notice emphasizes the need to strictly prevent and address hedonism and extravagance to ensure a clean and frugal holiday. Discipline inspection and supervision organs at all levels are required to conduct thorough supervision and inspections, strengthening both overt and covert investigations, and promptly investigating and severely punishing any signs of misconduct. The notice focuses on persistent problems disguised as social interactions, strictly investigating issues such as illegal dining and drinking, accepting and giving gifts and money in violation of regulations, and using weddings and funerals as opportunities to amass wealth. It calls for accurate identification and timely handling of hidden and disguised behaviors, focusing on catching offenders, highlighting typical cases, and issuing public notices to deepen the joint investigation and treatment of corruption and misconduct, continuously sending a strong signal of strictness. The notice also urges Party and government organs at all levels to implement the requirement of living frugally, standardizing official receptions, meetings, training sessions, and activities such as festivals, exhibitions, and forums, and strictly preventing impulsive spending at the end of the year. Finally, it calls for vigorous rectification of unhealthy practices behind phenomena such as high-end cigarettes, alcohol, tea, "luxurious New Years Eve dinners," and excessively packaged holiday gifts.BP shares rose 1.5% after announcing the sale of its stake in Castrol.

Crypto lender Voyager Digital gets approval to return $270 million to customers

Alice Wang

Aug 05, 2022 15:16

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Voyager Digital Holdings Inc., a cryptocurrency company, has been granted permission by the U.S. Bankruptcy Court in New York to restore $270 million in client funds, the Wall Street Journal reported on Thursday.


Voyager Digital Holdings Inc., a cryptocurrency company, has been granted permission by the US Bankruptcy Court in New York to restore $270 million in client funds, the Wall Street Journal reported on Thursday.


According to the Journal, Judge Michael Wiles, who is in charge of Voyager's bankruptcy, said the firm had "sufficient grounds" to back up its claim that clients should be given access to the custodial account kept at Metropolitan Commercial Bank.


The business did not immediately respond to requests for comment.


Voyager, one of several businesses that struggled after the widespread turbulence on the cryptocurrency market, filed for Chapter 11 last month.


Voyager reported that it had between $1 billion and $10 billion in assets and liabilities, as well as over 100,000 creditors, in its bankruptcy case.


The Federal Reserve and the Federal Deposit Insurance Corp (FDIC) issued an injunction to the firm last week directing it to stop making "false and misleading" promises about the government's protection of its clients' cash.


The firm only had a bank account at Metropolitan Commercial Bank, according to the authorities, and none of the investors using its platform were covered by the FDIC.


During the COVID-19 epidemic, cryptocurrency lenders like Voyager saw a surge in business, luring depositors with high interest rates and convenient access to loans that conventional banks seldom ever gave. Lenders have suffered from the recent decline in cryptocurrency markets, which was brought on by the failure of two significant tokens in May.

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