Bloomberg - Evening Briefing - Fifty-fifty chance

As some have since telegraphed in public, US Federal Reserve officials concluded in private earlier this month that they should soon moderate the pace of interest-rate increases, likely leaning toward a 50 basis-point hike in December. And while some economic observers have predicted a recession with near certainty for months, Fed staff told officials during a Nov. 1-2 gathering that their assessment of the risk is about 50-50. However, this was the first such warning since the Fed began raising rates in March. Markets Wednesday seemed to take their cue from the prospect for shrinking rate hikes, and what that means for the fight against inflation. Here’s your markets wrap. —David E. Rovella

Tiger Global Management marked down the value of its private funds by almost one quarter this year, contributing to a $42 billion decline in assets, one of the industry’s biggest ever. 

Women with no previous director experience at publicly traded companies are gaining a larger share of seats on S&P 500 corporate boards amid increasing pressure to diversify leadership. These are the major companies that added female directors last month.

Russia’s onslaught against Ukraine’s energy infrastructure plunged the country into wintry darkness, threatening to trigger another refugee exodus and underscoring Kyiv’s need for more air defense systems. Temperatures dropped below zero as night fell on Wednesday with millions of Ukrainians without heat, light or water after Vladimir Putin’s forces fired scores of missiles against its neighbor’s power systems. The Kremlin’s latest attempt to turn the tide of its botched war may make Ukraine’s allies in Western Europe a bit chillier, too.

FTX’s viral Super Bowl ad featured multiple versions of a deeply skeptical Larry David. In light of the crypto exchange’s collapse, he and his fellow celebrities might have done well to act on such doubts. The creator of Seinfeld, quarterback Tom Brady and basketball legend Shaquille O’Neal are among the big names being sued for promoting FTX. The lawsuits allege they lured unsophisticated investors into the debacle.

Tom Brady Photographer: Chris Graythen/Getty Images

A Walmart manager opened fire on fellow employees in the break room of a Virginia store, killing six people in the country’s second high-profile mass shooting in four days. It’s the latest in a year filled with 40 such shootings, including the massacre of almost two dozen children in Uvalde, Texas. The explosion of gun violence comes as the Supreme Court’s Republican-appointed supermajority in June issued a landmark ruling expanding the ability of people to carry firearms in public.

US regulators approved CSL Behring’s hemophilia B gene therapy, a one-off infusion that frees patients from regular treatments but costs $3.5 million a dose, making it the most expensive medicine in the world. 

Amazon, which is in the process of terminating 10,000 workers as the holiday season approaches, plans to spend more than $1 billion a year to produce movies that it will release in actual theaters.

Bloomberg continues to track the global coronavirus pandemic. Click here for daily updates.

• DOJ wants to question Pence on effort to overthrow 2020 election.
• Bloomberg Opinion: New Trump prosecutor isn’t Mueller 2.0.
• Bloomberg Opinion: The war on Russia’s economy is working.
• FTX flipped one trading firm’s risk obsession. Disaster followed.
• At least the crypto crash is helping a few couples patch things up.
• A financial industry dam is holding back net zero’s “wall of capital.”
• Elon Musk keeps quoting Elon Musk about his genius.

In the first year of the pandemic, electric bikes were part of a US boom in outdoor goods: Americans bought fire pits, coolers, camper vans, chicken coops and just about anything else that would help them to pass the time in open air. But when life started heading back in the direction of normal, so too did most of the outdoor industry—except for e-bikes.

The RipRacer from Juiced Source: Juiced

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