Oil Futures Settle Sharply Lower As Demand Concerns Weigh

BioVie Shares Slip 14%

Shares of biotechnology company BioVie Inc. (BIVI) are down 14 percent on Tuesday’s trading continuing their down ward trend since the past few days.

On Tuesday, the company reported positive results from its phase II trial evaluating its drug candidate NE3107 in Parkinson’s Disease, meeting the two objectives of the study.

The objectives of the trial were to determine the safety and a drug-drug interaction to demonstrate the absence of adverse interactions of NE3107 with levodopa, as well as to determine if preclinical indications of promotoric activity and apparent enhancement of Levodopa activity can be seen in humans.

Currently at $4.4300, the stock has traded between $1.3250 and $8.2550 during the past 52 weeks.

Satixfy Communications Rally Continues

Satixfy Communications Ltd. (SATX) shares are climbing more than 6 percent on Tuesday morning. The shares have been on a bullish trend since the start of this month. There were no corporate announcements today to influence the stock movement.

Currently, shares are at $30.75, up 6.03 percent from the previous close of $29.00 on a volume of 272,830.

British man, 20, dies while on holiday in Mallorca

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Gold Futures Settle Slightly Higher

Gold futures settled higher on Tuesday but gains for the contract were just marginal as the dollar stayed firm amid bets the Federal Reserve will continue to aggressively hike interest rates.

The dollar index surged to 105.53, gaining nearly 0.25%.

Gold futures for February ended higher by $1.10 at $1,782.40 an ounce, after having climbed to $1,793.20 earlier in the session.

Silver futures for March ended down $0.082 at $22.335 an ounce, while Copper futures for March settled at $3.8180 per pound, up $0.0230 from the previous close.

In U.S. economic news today, the Commerce Department released a report showing the U.S. trade deficit widened in the month of October.

The report said the trade deficit widened to $78.2 billion in October from a revised $74.1 billion in September. Economists had expected the trade deficit to increase to $79.1 billion from the $73.3 billion originally reported for the previous month.

The wider trade deficit came as the value of exports slid by 0.7% to $256.6 billion, while the value of imports climbed by 0.6% to $334.8 billion.

WhatsApp Hit By Data Leak Claims

In one of the biggest data breaches of today’s times, phone numbers of around 500 million WhatsApp users have been leaked and are up for sale. The database, which is up for sale on a popular hacking forum, has the private information of WhatsApp users from 84 countries, according to reports.

WhatsApp has denied the claims. “The claim written on Cybernews is based on unsubstantiated screenshots. There is no evidence of a ‘data leak’ from WhatsApp,” said a spokesperson.

The person who put up the data for sale claimed that there are 32 million records of users from the US within the set. It also has numbers of millions of users from Egypt, Italy, France, the UK, Russia, and India.

According to the report, the US dataset is available for $7,000, while the UK one will cost $2,500.

Reports said that when the seller was contacted, he shared 1,097 UK-based numbers as proof. When the numbers were looked into, they were confirmed to be all from WhatsApp accounts. However, the hacker did not specify how they obtained the data.

Such information is often used for cyber crimes like smishing and vishing, both of which involve sending the user a text message and asking them to click on a link. The user is then asked to provide their credit card or other personal details.

This is not the first time that a Meta-owned platform has been hit by a data breach. Last year, the personal data of over 500 million Facebook users, including 6 million records from India, was allegedly leaked. The leaked data then included phone numbers and other details.

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Oil Futures Settle Sharply Lower As Demand Concerns Weigh

Crude oil prices dropped to an 11-month low on Tuesday amid concerns about the outlook for energy demand.

Oil prices fell despite a price cap on Russian oil sales as uncertainty and consequences of a continued Fed tightening weighed on the commodity.

Data showing Chinese service-sector activity to have slipped to a six-month low hurt oil prices.

West Texas Intermediate Crude oil futures for January ended lower by $2.68 or about 3.5% at $74.25 a barrel.

Brent crude futures were down $3.12 or about 3.75% at $79.56 a barrel a little while ago.

The European Union officially stopped importing oil directly from Russia since Monday. Meanwhile, price cap of $60 per barrel on Russian crude has also come into effect.

Markets now look ahead to weekly crude oil inventory data. The American Petroleum Institute (API) is scheduled to release its weekly oil report later today, while the Energy Information Administration (EIA) will come out with its oil stockpiles data Wednesday morning.