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Phil Rosen Profile
Phil Rosen

@philrosenn

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Award-Winning Financial Reporter • Co-Founder, Editor @ReadOpeningBell • Creator @JournalistsClub • 2x Author • Bylines: Business Insider, Fortune, Yahoo, Inc..

New York City
Joined May 2021
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@philrosenn
Phil Rosen
1 month
Some news: I quit my job at Business Insider to team up with @APompliano and launch Opening Bell Daily, an independent news and research outlet committed to demystifying Wall Street, markets and investing — at no cost to readers📊👇
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Phil Rosen
2 years
1/📉Russia is days away from its first debt default since 1998 as a $100 million payment comes due with Moscow cut off from the global financial system.🚨 Hot off the press for @BusinessInsider ...
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Phil Rosen
2 years
1/ President Vladimir Putin just penned a decree saying Russian companies must remove themselves from foreign stock exchanges like in NY and London -- dealing another sharp blow to Russian billionaires. My latest for @BusinessInsider .
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Phil Rosen
2 years
1/ Russia's economy could spiral into a depression under an EU oil embargo, which is now much more likely. A top energy analyst ( @Kpler ) explained why Moscow won't be able to rely on China and India to fill the gap. New for @BusinessInsider
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Phil Rosen
2 years
1/ Now this is interesting -- Israel's Central Bank added China's yuan to its reserve holdings for the first time ever, AND it reduced its exposure to the US dollar in its biggest currency reshuffle in a decade(!)...my latest for @MktsInsider :
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Phil Rosen
2 years
1/ Dollar Vs. Euro: The world's two top currencies are on the verge of parity for the first time in 20 years -- and it could happen within a month. Here's what to know. Hot off the press for @BusinessInsider ...
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Phil Rosen
2 years
1/ This is big: The US dollar and oil prices are breaking from their historical trade link. An economist broke down why this signals a 'double whammy' for global markets.😳 Hot off the press for @BusinessInsider ...
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Phil Rosen
2 years
1/ This blockchain expert explains how North Korea's $625 million crypto hack presents a new national security threat — and why it marks a shift in the global 'digital battlefield.' Hot off the press for @BusinessInsider
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Phil Rosen
2 years
2/ Putin signed the new rule April 16, and within the coming days Russian companies must comply, removing themselves from the likes of the NY Stock Exchange, London Stock Exchange, Nasdaq, and other top bourses. ( @BusinessInsider )
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Phil Rosen
2 years
2/ With Germany saying this week that it’s ready to stop buying Russian oil, large implications are set to follow. The odds of a sweeping EU oil embargo have surged. ( @MktsInsider , @BusinessInsider )
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Phil Rosen
2 years
3/ The likes of Vladimir Potanin — Russia's richest man — will now have to adjust the ownership structure of their businesses, Bloomberg reported. And many of Russia's billionaires have already had to navigate a tough few months. ( @BusinessInsider )
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Phil Rosen
2 years
4/ Last month, the US Treasury had let a key sanctions exemption expire. Ending the carve-out meant US investors would no longer be allowed to receive payments from Russia.💵 ( @BusinessInsider )
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Phil Rosen
2 years
3/ "Russia's economy is projected to contract by more than 10% already this year. If an EU embargo happens, it would likely send the economy spiraling into a depression," @mattvsmith01 , a top oil analyst at research firm @Kpler said.
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Phil Rosen
2 years
5/ Russian billionaires, meanwhile, have already been targeted by Western sanctions as well as Moscow's own capital controls that restrict the ability to move money abroad. The war in Ukraine has only added obstacles for them. ( @BusinessInsider )
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Phil Rosen
2 years
1/ The US dollar may be losing global dominance — which means China could elevate the yuan on the world stage. Here's what China would have to do to make this happen (and why it wouldn't be all bad). Hot off the press for @BusinessInsider ...
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Phil Rosen
2 years
1/😳🚨This feels significant: US gas prices have fallen for 21 straight days — the longest streak since the start of the COVID-19 pandemic. Hot off the press for @BusinessInsider ...
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Phil Rosen
8 months
@VivekGRamaswamy in the house at Mainnet talking crypto, regulation, and running for president
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Phil Rosen
2 years
11/ "Every single dollar a country is paying for Russian oil is funding the war [in Ukraine]. By cutting off those revenues, the goal is to ultimately cut off Russia's ability to continue this war," @mattvsmith01 said. ( @MktsInsider , @BusinessInsider )
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Phil Rosen
2 years
1/ Russia's central bank admitted that Western sanctions have left the embattled nation scrambling for economic options as roughly half of its $642 billion in foreign reserves remain frozen. My latest for @BusinessInsider :
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Phil Rosen
2 years
4/ Unless Moscow can find new buyers for its huge oil supply or at least find a place to stash it, there's a strong chance Russia will have to slash its oil production dramatically, the @Kpler analyst said. ( @MktsInsider , @BusinessInsider )
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Phil Rosen
2 years
6/ "The rights of shareholders who believe in Russia and have invested in the Russian market for many years and who cannot hold Russian shares directly, are being hurt," a tycoon told Russian news outlet @kommersant this month. ( @BusinessInsider )
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Phil Rosen
2 years
8/ While Putin's new decree means foreign holders must receive normal shares placed in non-resident accounts in Russia, those holders are already facing various restrictions that could prevent them from shedding those shares. ( @BusinessInsider )
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Phil Rosen
2 years
8/ But importantly, it's not as if Russia does not have the funds to pay — a default would be triggered primarily due to sanctions, rather than a lack of cash or willingness. ( @MktsInsider )
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Phil Rosen
2 years
3/ Lumber sunk below $300 per thousand board feet in early 2020, jumped to $1,000 later, crashed, soared past $1,700 in May 2021, crashed again, rebounded to nearly $1,500 in March, plunged yet again, and are now below $600.💵 ( @MktsInsider )
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Phil Rosen
2 years
9/ Since the war began in February, the country's oil export revenue has increased compared to 2021, with buyers in China and India snapping up additional barrels at a discount. ( @MktsInsider )
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Phil Rosen
2 years
5/ Prices at gas stations across the US have hit record after record over the last two weeks. ( @MktsInsider )
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Phil Rosen
2 years
7/ The debt payments had originally been due on May 27, and Moscow sent them to Russia's National Settlement Depository. But sanctions prevented Western institutions' ability to accept the payments.🚨
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@philrosenn
Phil Rosen
1 month
Personal news: Today was my last day at Business Insider. I'm so grateful to have worked 3 years in a newsroom packed with talented, kind individuals. This is a bittersweet day. But it's time for the next chapter — the future remains bright!
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Phil Rosen
2 years
3/ The White House is staring down a global energy crunch sparked by Russia's invasion of Ukraine, as well as domestic supply strains across energy commodities. ( @MktsInsider )
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Phil Rosen
2 years
New from me: Top economists have warned that US sanctions on Russia will end up hurting our own taxpayers. 3 experts told me what will happen in America, ringing the bell on inflation, gas, & cyber-warfare ( @BusinessInsider ).
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Phil Rosen
2 years
5/ Russia could use its extensive network of pipelines as storage space, but that wouldn't hold all the excess supply, @mattvsmith01 said, adding that unsold crude also could be floated offshore in vessels. ( @MktsInsider , @BusinessInsider )
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Phil Rosen
1 year
A reporter was pushed to the ground and arrested for trespassing Wednesday while covering news on the derailment of a train carrying toxic chemicals in Ohio... ( @politico )
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Phil Rosen
2 years
8/ "It would be very difficult for [India] to logistically pull in a huge amount of additional crude given it likely has a significant volume of its imports under long-term contracts from the Middle East." ( @BusinessInsider , @MktsInsider )
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Phil Rosen
2 years
2/ A top economist told @BusinessInsider that the two currencies could hit parity within "a month or so" for the first time since 2002.
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Phil Rosen
2 years
7/ For his metaverse and Web3 investments, he recommended heavy diversification "because you have no idea what's going to work." Just one or two winners out of 10 positions can pay for all the losers, @kevinolearytv said. ( @BusinessInsider )
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Phil Rosen
2 years
1/🚨China is weighing fast-tracking bond sale for the first time ever with $220 billion stimulus package to spark the slumping economy, reports say.👀 New for @BusinessInsider ...
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Phil Rosen
2 years
3/ Demand on a four-week rolling basis has hit its lowest level during this time of year since 2013, excluding the pandemic-hit period in 2020, according to data from the Energy Information Administration compiled by Bloomberg.
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Phil Rosen
2 years
4/ At the same time, crude prices have surged 62% in 2022 as Russian supplies disappear from the market, global stockpiles shrink, and demand ramps up amid easing COVID restrictions and summer travel season. ( @MktsInsider , @InsiderIntl )
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Phil Rosen
2 years
4/ "There are very few tools the US administration has because the biggest drivers for gasoline prices are driven by global fundamentals," @mattvsmith01 , lead oil analyst at @Kpler , told Insider.
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Phil Rosen
2 years
2/ The cost of gas is surging across the US, but drivers shouldn't expect any action taken by President Joe Biden's administration to bring down prices at the pump ahead of summer driving season. ( @MktsInsider )
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Phil Rosen
4 months
Personal news: Excited and honored to share I have won a Fulbright award! Later this year I will go to Berlin to learn about Europe's media landscape and government, and meet with policymakers alongside a small group of US journalists. Thank you, @FulbrightPrgrm !
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Phil Rosen
2 years
5/ "You can make decisions on domestic supply, but if it doesn't have an impact on the global picture, it won't have an impact at the pump," the top oil analyst explained. ( @mattvsmith01 )
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Phil Rosen
2 years
10/ Still, China and India, which largely have avoided condemning Moscow for its war on Ukraine, could take in an additional 1 million barrels per day from Russia, @mattvsmith01 estimates. ( @InsiderIntl , @BusinessInsider )
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Phil Rosen
2 years
6/ "Other countries have to pay even more for barrels [of crude] because they are dealing with the rising dollar and rising oil prices. The US is dealing with just the rising prices." ( @MktsInsider )
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Phil Rosen
2 years
"In a worst-case scenario, a bank can be taken over by the opposition, as in this case with the Russian military," Junior Theomou, CEO of @MinersDefi said. "[But] decentralized digital currency cannot be taken away."
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Phil Rosen
2 years
4/ The venture capitalist explained that he's been doubling down on tokens, including bitcoin and ether, as well as various Web3 projects even though he acknowledges that not every investment will be a winning bet. ( @MktsInsider , @FinanceInsider )
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Phil Rosen
2 years
7/ Regular gas prices have never before hit this level. And in California, AAA data shows, prices are above $6.(See the photo, from just outisde San Francisco, CA)
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Phil Rosen
2 years
1/📊 Oil prices could crater all the way to $75 a barrel if a recession hits — or surge to $150 if EU sanctions slam Russian supplies, Bank of America says.🛢 New for @BusinessInsider ...
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@philrosenn
Phil Rosen
1 month
I stepped out of the Business Insider newsroom for the last time yesterday. I exchanged handshakes and hugs with colleagues, had my last sip of the office coffee that had perked me up so many times, and turned in my laptop.  As I left I took a long, final look around the place…
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Phil Rosen
2 years
6/ He currently holds 32 positions in the digital asset space, including @solana and blockchain firm Polygon. Meanwhile, the O'Leary-backed @WonderFi just became the first crypto-trading platform to be featured on the Toronto Stock Exchange.
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Phil Rosen
2 years
1/ US wholesale gas prices dropped to their lowest point since before Russia's invasion of Ukraine - but prices at the pump remain 21% higher than last year⛽ New for @BusinessInsider ...
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Phil Rosen
2 years
3/ While the current price is still 37% higher than a year ago, it marks significant relief from early June, when the average pump price moved above $5 for the first time ever.📊 ( @MktsInsider )
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Phil Rosen
2 years
1/🤦‍♂️US gas prices hit yet another record high today at $4.622 — a 52% jump from a year ago. An increasing number of states are paying $5 or more for a gallon of gas. New for @BusinessInsider ...
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Phil Rosen
2 years
2/ North Korea's huge crypto hack marks a new era in cybersecurity threats, and it signals a shift within the broader digital battlefield that includes the US and China, according to @ARedbord of blockchain firm @trmlabs .🖥️ ( @BusinessInsider )
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