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Sources say U.S. officials are discussing sanctions related to "terrorism" against the UNs Palestinian refugee agency.Oracle Corporation (ORCL.N) reported disappointing cloud revenue on December 11, indicating that its recent large-scale artificial intelligence orders may take longer to materialize. Oracles second-quarter earnings showed cloud sales grew 34% to $7.98 billion, while its closely watched infrastructure business saw revenue rise 68% to $4.08 billion. However, both figures slightly missed analysts expectations. In a statement Wednesday, the company said remaining fulfillment obligations (a metric for order backlog) jumped to $523 billion in the second quarter, compared with analysts average estimate of $519 billion.On December 11th, Chris Grisanti, Chief Market Strategist at MAI Capital Management in New York, commented on the Federal Reserves interest rate decision: "The initial reaction was no surprise; rates were lowered as expected. But when you look ahead, you see a lot of uncertainty. As we move from todays rate cuts to 2026, the tailwind effect of these cuts will no longer be as reliable. This could become a problem. Further, with the Feds revised wording emphasizing the uncertainty surrounding the magnitude and timing of future rate cuts, the Fed is essentially sending a signal to the market: dont take rate cuts for granted. In my view, this means well only see more rate cuts if the economy slows significantly. As a stock investor, I hope there wont be any rate cuts in 2026, because that would mean the economy is weakening. Id rather have a robust economy than more rate cuts."Adobe (ADBE.O) expects revenue of $6.25 billion to $6.3 billion for the first quarter of next year. It projects total revenue of $25.9 billion to $26.1 billion for fiscal year 2026.Oracle (ORCL.N) fell nearly 6% in after-hours trading.

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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