Ken Griffin’s Citadel Securities lends $600 million as trading revenue soars

Citadel Securities on Thursday borrowed $600 million to shore up its balance sheet and trading business, capitalizing on strong demand from lenders after choppy markets helped one of the biggest U.S. equities trading houses make a banner start to 2022. A company that is majority owned by billionaires Ken Griffin, forms a critical part of the plumbing in the US financial markets. It was thrust into the spotlight last year when millions of investors piled into the stock and options markets for the first time. The company told lenders, including credit facilities, that it plans to use $600 million in

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Liz Cheney lost the primary after leading the Republican charge against Donald Trump

Liz Cheney lost her primary race for a seat in the US House of Representatives to a challenger backed by Donald Trump, as Republicans in the staunchly conservative western state of Wyoming chastised her for being one of the former president’s most prominent critics in Congress. . Cheneythe daughter of former Vice President Dick Cheney, has represented Wyoming in the House of Representatives since 2017. However, she faced an uphill battle for re-election this year after becoming vice chair of a congressional committee investigating the January 6, 2021 attack on the US Capitol and the impeachment vote Trump, defying the

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BHP announces record cash return on rising coal prices

BHP said it would return a record amount of cash to investors as rising coal prices helped the world’s biggest miner post a 26 percent rise in annual profits. The Australian company announced a final dividend of $8.9 billion, or $1.75 per share, bringing its total payout for the year to $16.5 billion, the largest payout in its 137-year history. BHP said shareholder returns were close to $36 billion, including Woodside Petroleum shares given to its shareholders in exchange for the sale of the miner’s oil division. The deferred payout concludes a transformational year for BHP in which the company

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Live News Update: Japan’s economy accelerates after easing of Covid restrictions

Afghanistan has two anniversaries coming up. Friday is Independence Day, commemorating the signing of the Rawalpindi Treaty in 1919, by which Britain gave Afghanistan self-determination in its foreign affairs. However, most will be more concerned about Monday, which marks one year since the Taliban regained control. This week also marks the 75th anniversary of the British withdrawal from the Indian subcontinent, marking the partition of India and Pakistan. Indian Prime Minister Narendra Modi will address the nation from the historic Red Fort in Delhi with a focus on the problems in Kashmir, the only Muslim-majority state. For British schoolchildren, it’s

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Former Deutsche Bank CEO Anshu Jain has died at the age of 59

Anshu Jain, the Indian banker who helped transform Deutsche Bank from a largely domestic lender into a global financial titan, has died at 59. Trained in the City of London and Wall Street Jainwho led Deutsche as co-chief executive from 2012 to 2015, had been suffering from stomach cancer and died in the UK on Friday night, his family confirmed. “We are deeply saddened that our beloved husband, son and father . . . passed away overnight after a fierce, five-year battle with duodenal cancer,” Jain’s family said in a statement, adding that he had managed to outlive his doctors’

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Author Salman Rushdie Stabbed at Event in New York State

Salman Rushdie, an author who has lived under death threats from Iran for decades, was stabbed on stage during a literary event in the US on Friday morning. Police said Rushdie suffered a stab wound to the neck and was airlifted to hospital. The Booker Prize-winning author was still undergoing surgery Friday afternoon, police said. “The news is not good. Salman is likely to lose one eye; the nerves in his hand were severed; and his liver was punctured and damaged,” Rushdie’s agent Andrew Wylie said in a statement to Reuters on Friday night. Rushdie, 75, was still on a

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Luxury watch prices have fallen due to weak Chinese consumer confidence

Prices of second-hand luxury goods in China have plummeted in recent months, as even the wealthy have cut back on their discretionary spending and are selling their Rolex watches and Hermes bags to raise cash. More than a dozen popular luxury watch and bag brands have lost between 20 and 50 percent of their value on the secondary market since Shanghai, China’s financial and commercial capital, imposed strict lockdown measures in March to curb the Covid outbreak. Restrictions in Shanghai and dozens of other regions have led to a heavy blow to small business owners, many of whom have accumulated

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The Nasdaq has rallied more than 20% from recent lows as US inflation eased

U.S. stocks rallied on Wednesday, with the tech-heavy Nasdaq Composite index closing more than a fifth above its lowest level hit earlier this year, after fresh data showed inflation was stabilizing in the world’s biggest economy. The consumer prices in the US rose 8.5 percent on an annual basis in July, slower growth than in June and below economists’ forecasts of 8.7 percent. Data released on Wednesday also showed that there was no month-on-month increase in inflation in July, compared with a monthly increase of 1.3 percent in June. The figures added further fuel to a two-month rally in financial

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Justice Department under pressure to explain raid on Donald Trump’s estate

The US Justice Department is under pressure to provide a fuller explanation of the FBI’s search of Donald Trump’s Florida estate after an unprecedented raid on the former US president’s home sparked howls of outrage from Republicans. As of Tuesday evening, the Justice Department and the FBI had yet to comment Mar-a-Lago search, which she carried out the day before, as Trump described a “large group” of federal agents. FBI searches must be approved by a federal judge. More details emerged throughout the day about the focus of the raid. People close to Trump have confirmed that it is an

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