Here is the text version of the episode of the FT News Briefing podcast: "Bank of Japan shocks markets" Jennifer Jessica Smith The Financial Times wishes you a good morning. The date is now Wednesday, December 21. And that wraps up today's edition of the FT News Briefing. The Bank of Japan gave in, and the markets shuddered. Many FTX clients are jockeying for position at the refund window. In addition, Tom Wilson of the Financial Times reviews the year's events in the volatile energy sector. Wilson, Tom You know, if we were to move this section to Russia, it would be appropriately titled "Russia," no? Suggested Citation: Jessica Smith Here's the day's essential news from me, Jess Smith, filling in for Marc Filippino. The Bank of Japan's sudden change in monetary policy sent shockwaves through global financial markets. Japanese central bankers had maintained their hyper loose monetary policy for a long time, and they had refused to raise interest ...

Stock futures went down Tuesday morning after the Bank of Japan said it would change its yield target range. Futures linked to the Dow Jones Industrial Average fell by 236 points, or 0.72 percent. Both S&P 500 futures and Nasdaq 100 futures fell by 0.86 and 1.05 percent, respectively. During regular trading on Monday, the Dow lost more than 162 points, or about 0.5%. The S&P 500 lost 0.9%, and the Nasdaq Composite lost nearly 1.5%. Stocks are likely to end the month and the year in the red, and investors' hopes for a Santa Claus rally are fading fast. "There's still no sign of Santa. "Harness up," said Louis Navellier, who started the growth investing firm Navellier & Associates. "One would like to think all the bad news is out. There are no more Fed moves until at least February. We're not getting worse, but we're also not making up for last week's losses." Investors worried that the Federal Reserve could tip the economy into a ...

Sensex, Nifty, and Share Prices Today LIVE: Bulls end a two-day losing streak as NSE Nifty and BSE Sensex rise. Sensex soars 460 points, Bank Nifty rises 0.45%, and Nifty finishes above 18400; M&M wins. The Nifty rose 150 points to 18,420 despite a flat beginning. Sensex gained 0.76 percent at 61,806. The Nifty Junior or Next 50 rose nearly 1% as intraday markets turned green. Nifty Auto gained 1.59% today and led the industry. KFin Technologies' IPO launched today with a price range of Rs. 347-366 per share. 18,888 is Nifty's biggest hurdle "Wall Street was positive due to short covering and value buying. All sectoral indexes except IT ended in the green, with auto and FMCG reporting the most gains. . net/YwotbKdP4sVunJGfdhmgww/e8f260a6-84bf-4222-a093-e1ef14e44c00/ The 21 December RBI MPC minutes will be widely monitored. In the following months, the market will be looking for signals concerning inflation and the RBI's policy. Continue to look up "December ma...

The European Union, the G7, and Australia agreed a few days before December 5 to cap the price of Russian oil shipped by sea at $60 per barrel. This was the start of a new phase in the economic war between Russia and the West. The price cap may be one of the most important responses to Russia's use of its energy reserves as weapons since the start of its full-scale invasion of Ukraine, but most people don't understand what it means or what it hopes to accomplish. Many people seem to think that the price cap is a way to stop Russian crude exports, but that is not at all the case. On the contrary, it wants to make sure that they keep flowing even though regulations and sanctions are getting tighter and tighter, but not to Western markets. Since February, China, India, and many other third countries have been buying large amounts of crude oil from Russia at very low prices. They can still do this. The goal of the cap is not to stop these purchases, but to limit Russia's profit...

Ukrainian soldiers, according to the governor-in-exile of Luhansk in eastern Ukraine, have attacked the headquarters of the Russian Wagner mercenary outfit. Serhiy Haidai reported considerable damage to the hotel where the group had convened in Kadiivka, Luhansk. Unfortunately, the BBC was unable to confirm Wagner's presence at the hotel independently. There was also heavy fighting in southern Ukraine over the weekend, with Russian forces attacking the city of Odesa and Ukrainian forces bombing a target in the captured city of Melitopol. Western experts have concluded that Wagner are state-sponsored mercenaries working to advance the interests of the Kremlin. Yevgeny Prigozhin, a former restaurateur and close associate of Russian President Vladimir Putin, established the private military business that has been repeatedly accused of war crimes and human rights abuses. Wagner forces have been sent to Crimea, Syria, Libya, Mali, and the Central African Republic before. Mr. Haidai said...

In November, China's factory-gate prices fell annually for the second consecutive month, while consumer inflation slowed, reflecting lackluster activity and soft demand in an economy hampered by strict economic controls. Analysts anticipated that the government will maintain low interest rates and implement confidence-building measures. According to data released by the National Bureau of Statistics (NBS) on Friday, the producer pricing index (PPI) was down 1.3% on a year-over-year basis, unchanged from October's yearly decline. This was less than the 1.4% decline predicted by a Reuters poll. The consumer price index (CPI) grew at its slowest rate in eight months in November, up 1.6% from a year earlier, which was smaller than the 2.1% annual increase observed in October but in line with a Reuters poll. According to Zhiwei Zhang, chief economist of Pinpoint Asset Management, "these figures show the economic momentum continues to decline." Tuesday's high-level poli...

The Federal Reserve, the European Central Bank, and the Bank of England will all make significant judgments the week after next, among others. The important concern for traders and investors is whether inflation has reached its zenith, which would allow policymakers to implement lower interest-rate hikes in the coming months. The monthly consumer price index for the United States is also due the following week, one day prior to the Federal Reserve's policy meeting on December 14, and could be crucial in determining longer-term monetary policy expectations. Adam Cole, a currency strategist at RBC, stated that the U.S. CPI is the only data release that appears to have a significant impact on the broader direction of the dollar at the moment. "Until we get those central bank meetings and one key monthly U.S. data release, not much is happening," he added. The dollar was very stable versus a variety of major currencies. The euro remained unchanged versus the dollar at $1.0507...

According to the most recent analysis by Strategy& Middle East, part of the PwC network, the potential contribution of the metaverse to GCC economies could reach approximately $15 billion annually by 2030, of which $7.6 billion would be in Saudi Arabia and $3.3 billion in the UAE. The metaverse is still evolving, but the rate of change is rapid. Organizations in the GCC should move immediately and seize the chance. Tony G. Karam, Partner at Strategy& Middle East, stated, "By 2030, we anticipate that the metaverse would annually pump $15 billion into GCC economies. The estimates evaluated the expansion of component technologies, platforms, hardware, and software, as well as the economic contribution of new metaverse applications such as content production, shopping, etc." The metaverse is beautiful because it is neither a place nor a technology. Rather, it is the most recent stage in the evolving human-computer interface, which aims to provide a seamless, pervasive, im...

Since 2009, Bitcoin and other cryptocurrencies have been debated. Even while crypto is attacked for its volatility, unlawful use, and electricity requirements, some individuals, especially in the underdeveloped countries, perceive it as a safe haven amid economic storms. In September 2021, El Salvador legalized money. In April, the Central African Republic became the second. But as more people use cryptos as investments or a way to get by, detractors have come up with new strategies to limit their use. The legality on Bitcoin and other "altcoins" varies from nation to country, and in others, the link between the two is unclear or always changing. Even though most countries don't ban Bitcoin, its status as a payment or commodity has varied legislative repercussions. Some governments limit Bitcoin's use, and some banks won't sell or buy it. Other countries have outlawed Bitcoin and other cryptocurrencies, making them difficult to use. 5 countries have the most...

Funko is expanding its Digital Pop! line with "Game of Thrones," a digital collection made up of non-fungible tokens (NFTs) that serve as virtual collectibles and look like Funko's stylized characters. The drop, which will be available for purchase on October 4, will include fan favorites from the hit HBO series, such as Arya Stark, The Hound, Jon Snow, and Jaime Lannister. Even though the collection is only accessible digitally, each Digital Pop! can be redeemed for a matching limited-edition physical collectible. Among the eligible objects for the "Game of Thrones" drop are Jaime Lannister, Arya Stark, Jaqen H'ghar, The Hound, Jon Snow, and Daenerys with a Dragon Egg. Fans will be able to get the entire collection beginning October 4 on the pop-culture NFT site Droppp.io, which will sell Standard packs (five Digital Pop!) for $9.99 and Premium packs (15 Digital Pop!) for $29.99. However, you must act quickly because the collection is limited to 31,250 pack...

Gold Price: Things to Talk About The price of gold has gone up from a new monthly low of $1643 as it tries to make up for the loss caused by the US Consumer Price Index (CPI) report. However, it may not be able to keep going up from the annual low of $1615 if it can't defend the range it was in at the beginning of October. After failing to stay in its opening range for the month, the gold price is in danger. The price of gold seems to be repeating what happened in August, as it followed the negative slope in the 50-Day SMA ($1711), and the precious metal may continue to fall in the coming days as Treasury yields reach new yearly highs. Expectations for higher US interest rates seem to be dragging down the price of gold as the Federal Reserve keeps doing what it's doing to fight inflation. The price of bullion may face more headwinds before the next Fed interest rate decision on November 2 as it puts pressure on the Federal Open Market Committee (FOMC) to follow a very restricti...

As a show of support for the upcoming Ethereum Merge, tech behemoth Google has added a new countdown meter to its website. When you type "Ethereum Merge" or "The Merge" into the search engine, you'll see a countdown ticker with the projected time remaining until the Merge based on the current difficulty, hash rate, and merge difficulty. Off to the side is a cartoon of two happy pandas sprinting toward one other with their hands outstretched, apparently getting closer as the Merge date approaches. In a Friday tweet, Google Cloud developer Sam Padilla said the timer was "a fun little surprise" and a way to show their appreciation for "the labor that has been going into this for years." He stated that the work was done by Google's search and laboratories teams, but he did "kickstart" the idea and conversation that led to the timer's implementation. Padilla added in the same post that the timer is directly connected to the block...

The eSports, lifestyle, and media business FaZe Holdings Inc (NASDAQ: FAZE) is entering the metaverse via a new relationship with Web3 industry leader The Sandbox. The Sandbox, a division of Animoca Brands, has announced a relationship with FaZe Clan, a North American gaming and esports group. Through this arrangement, FaZe Clan will enter the metaverse and construct a virtual region dubbed FaZe World. According to the announcement, FaZe and Sandbox will work together to generate new revenue streams and offer events and experiences in FaZe World. Included in the cooperation for "Faze Clan entering metaverse" are: FaZe Clan will construct FaZe World, a 12-square-foot virtual plot in the Sandbox metaverse. According to the two companies, the world is "part virtual property and part amusement park." They intend to construct digital infrastructure in support of this concept. In FaZe World, FaZe and Sandbox will organize virtual events, games, and digital items. In addit...

India's Financial Crimes Enforcement Directorate (ED) is investigating cryptocurrency exchanges suspected of processing transactions that transported over 10 billion rupees, or $130 million, from organizations under investigation to worldwide wallets. An official told The Economic Times that at least ten crypto exchanges are implicated, and WazirX's bank accounts were stopped. Companies under investigation for instant loans allegedly made transactions of up to 1 billion rupees, or $1.3 million, in the names of unrelated people. These firms often have Chinese ties. The agency alleged that no increased due diligence or suspicious transaction reports were lodged with the ED despite KYC/AML procedures indicating problematic transactions. Last Friday, the ED blocked WazirX bank accounts containing 647 million rupees, or $8.1 million, alleging that the exchange supported 16 fintech companies under investigation for money laundering. WazirX posted a statement on its blog Tuesday ...

BlackRock, the world's largest asset manager, created a private spot Bitcoin (BTC) trust on Thursday. The fund tracks Bitcoin's performance, less the trust's expenses and liabilities, for U.S. institutional investors exclusively. BlackRock explained the decision: “Despite the dramatic fall in the digital asset market, we are still seeing strong interest from some institutional clients in how to efficiently and cost-effectively access these assets utilizing our technology and product capabilities. Bitcoin is the oldest, largest, and most liquid digital asset, and our clients are most interested in it.” Private investment trusts that do not solicit retail investors do not need US regulatory registration. Others, like the Grayscale Bitcoin Trust, can trade over-the-counter without SEC registration. Bitcoin holds about 50% of the industry's market capitalisation without stablecoins. BlackRock said it's encouraged by RMI and Energy Web's efforts to increase blockchai...

  Authorities said three Dutch soldiers were shot and wounded in downtown Indianapolis early Saturday after what local police believe was a disturbance outside the hotel where they were staying. Around 3:30 a.m. EDT, the shooting occurred in Indianapolis' entertainment district. Officers discovered three men with gunshot wounds and transported them to area hospitals, according to Indianapolis police. According to the Dutch defense ministry, one soldier was critically injured and two others were conscious. In comparison, Indianapolis police said two soldiers were critically injured and a third was stable. The three soldiers were from the Commando Corps and were in Indiana for training when the shooting occurred during their free time in front of the hotel where they were staying, according to the ministry. Police in Indianapolis believe the shooting was caused by an altercation between the three victims and another person or people. While Indianapolis police investigated the shootin...

    ghai and Hong Kong fell while Tokyo and South Korea advanced. Oil prices retreated.  Wall Street's benchmark S&P 500 index lost 0.7% on Monday, adding to last week's losses. Stocks tumbled after Fed chair Jerome Powell indicated Friday the U.S. central bank will stick to a strategy of rate hikes to cool inflation that is at multi-decade highs. That appeared to quiet speculation the Fed might ease off due to signs economic activity is cooling. “Markets are still digesting Jay Powell’s hard-hitting message on inflation" while the European Central Bank also is giving “more hawkish” signals, said Venkateswaran Lavanya of Mizuho Bank in a report. The Shanghai Composite Index lost 0.5% to 3,225.10 and the Hang Seng in Hong Kong tumbled 0.9% to 19,851.86. The Nikkei 225 in Tokyo gained 1.2% to 28,217.36 after the official unemployment rate for July held steady and the labor participation rate, or the share of the working-age population that is in jobs, stayed at a record...

     Ethereum is a decentralized blockchain platform that executes and verifies smart contracts. Participants can transact without a central authority via smart contracts.   Participants have full ownership and visibility of immutable, verifiable, and securely distributed transaction records.   Ethereum accounts send and receive transactions. Senders must sign transactions and pay Ether to process them on the network. Ethereum reports that the Merge upgrade was successful, and that there will be more.   The Merge is a significant step in reducing the amount of electricity used by the Ethereum blockchain, but there are still many improvements planned.   According to the Ethereum Foundation, the Paris upgrade's final phase was completed at 2:45 p.m. Hong Kong time, ending the long wait for the Ethereum network upgrade.   The second-largest blockchain in the world, with a market worth of US$200 billion, will undergo a significant change in its infras...