News

格隆汇 March 17｜Hershey Company announced that it will integrate its U.S. business and adjust its sweet, salty, and protein product portfolio to streamline operations. For the first time, the company will consolidate brand marketing, category strategy, and consumer insights for its U.S. business, aiming to enhance the commercial strength of its candy brands.

PANews March 17th news, according to Bloomberg, U.S. District Judge Lewis Kaplan made it clear that he will not consider any letters or phone messages submitted by FTX founder Sam Bankman-Fried (SBF)'s mother, Barbara Fried, on behalf of her son. Barbara Fried had contacted the court, requesting an extension for her son's filing time on the grounds that he could not use word processing or access files in prison. Judge Kaplan pointed out that, although he understands Barbara Fried is the defendant's mother and a former Stanford Law School professor, she has no authority to submit documents or seek relief in this case. The judge has independently extended the deadline for SBF or his lawyers to apply for an extension to March 23, but made it clear that he will not accept letters or phone messages from Barbara Fried. Bankman-Fried was sentenced to 25 years in prison in 2023 due to the collapse of FTX and is currently serving his sentence. Last month, he submitted a motion himself, claiming new evidence and requesting a retrial.

格隆汇 March 17｜ On Tuesday morning this week, international oil prices fell sharply, boosted by expectations that transportation disruptions in the Strait of Hormuz may ease and that multiple countries may release more crude oil reserves. As oil prices dropped, market concerns about inflation also eased, leading to gains in both US stocks and US bonds, and driving Asian stock markets to open higher on Tuesday—the Nikkei 225 index opened up 0.9%. The Korea KOSPI index rose 2.9%. Morgan Stanley's chief strategist believes that although there are still no clear signs of the war ending, the correction in the US stock market may be nearing its end. On Monday Eastern Time, Michael Wilson released a report stating that although a slight decline in US stocks cannot be ruled out in the short term, "we still believe this correction is nearing its end, both in terms of time and price." The strategist pointed out that this correction in US stocks has "matured, with 50% of the stocks in the Russell 3000 Index having fallen at least 20% from their 52-week highs." He also said that the market's performance is "far ahead of the currently obvious risks," adding that this year's US stock market trend is similar to last year's early warning signals. However, he expects the decline in US stocks this time to be "significantly less than last year," but given geopolitical tensions, volatility may persist.