Joe Biden has said he did not think China would send weapons to Russia to help its military campaign in Ukraine, in comments that appeared to undercut claims from his top officials that Beijing was considering the idea. In an interview with ABC television on Friday that was aired on the evening of the anniversary
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U.S. regulators and the Federal Reserve have issued a joint warning about key liquidity risks associated with crypto assets. However, the regulators clarified that banks “are neither prohibited nor discouraged from providing banking services to customers of any specific class or type, as permitted by law or regulation.” US Regulators Issue Joint Statement on Crypto
On Friday, the cryptocurrency firm and stablecoin issuer Circle announced that the financial institution Citizens Trust Bank will hold $65 million in usd coin cash reserves. Circle said the move is part of the company’s plan to allocate shares of the stablecoin’s denominated reserves to minority-owned depository institutions (MDIs) and community banks across the United
While politicians and pundits around the world commemorate the one year anniversary of Russia’s latest, most brutal invasion of Ukraine today, no one expected the country to still be standing even a month later when tanks and planes advanced on Kyiv in the early hours of February 24, 2022. We’ve watched the war from afar
“I am a bad passenger,” says the six-time Grand Slam champion and undischarged bankrupt, as he tips the hotel valet and heads for the driver’s side of his Porsche. In his playing days, he drove to and from matches. “Can you imagine Djokovic or Federer doing that?” I get it, I say, he wants to
Trafigura failed to require analysis certificates, ignored incorrect customs codes and missed other “red flags” that alarmed its bankers on nickel shipments it later discovered to be fraudulent, according to court documents obtained by the Financial Times on Friday. The alleged nickel fraud, which has caused Trafigura to take a $577mn writedown, is poised to
This week, Bloomberg Intelligence Senior Macro Strategist Mike McGlone shared his March outlook and noted that the “top catalyst” that could push gold above the $2,000-per-ounce range is a recession. McGlone further explained in an update about bitcoin and the Nasdaq that a key ingredient to force the U.S. Federal Reserve to pivot its stance
HM Revenue & Customs has launched a crackdown on the booming short-term lettings market by initially targeting about 1,000 property owners that it suspects have not paid enough tax. Based on information received from online bookings platforms such as Airbnb, the UK tax agency is sending its first so-called “nudge” letters this month to those
Russia’s invasion of Ukraine a year ago reverberated through global markets. With no end in sight to Europe’s most intense conflict since the second world war, the effects are still being felt. Financial Times reporters look at what has occurred in key markets and what might happen next. Putin’s energy war backfires Running almost in
Bitcoin’s (BTC) recent price rally from $16,500 to $25,000 can be attributed to a short squeeze in the futures market and recent macroeconomic improvements. However, while prices increased, data suggests that many interested buyers (including whales) were left on the sidelines. The recent rally to $25,000 shared many similarities with the 2019 bear market rally,
Flanked by officials from the Port Authority of New York and New Jersey, New York Gov. Kathy Hochul on Thursday hosted a groundbreaking for a terminal project she said will cap John F. Kennedy International Airport’s $18 billion redevelopment. “The groundbreaking offers a complete vision for the modernized global gateway,” Hochul said at a ceremony held
Municipals were mixed to end the week as U.S. Treasury yields rose double-digits five years and in and equities ended down. The three-year muni-UST ratio was at 61%, the five-year at 62%, the 10-year at 66% and the 30-year at 91%, according to Refinitiv MMD’s 3 p.m. ET read. ICE Data Services had the three
When the US drugs company Abbott Laboratories acquired a small division of the German chemicals group BASF for $6.9bn 23 years ago, its shares fell on fears that it had overpaid. But the deal was an amazing bargain. Humira, the promising medicine that came with it, is now the industry’s biggest blockbuster, with cumulative revenues
Non-fungible token (NFT) sales have soared this past week, climbing 138.15% higher than the week before. Sales recorded between last Friday and Feb. 24, 2023, indicate that $801 million in NFT sales have been settled over the last seven days. Ethereum Digital Collectibles and Mutant Ape Yacht Club Lead NFT Sales Surge While crypto asset
The U.S. Treasury resumed operations of its Office of Recovery Programs Contact Center on Feb. 21, providing local governments with an important link to the federal agency as they seek to complY with the conditions governing the federal money. The help desk fielded about 300 calls and about 2,000 emails a week before shuttering last October
In retrospect, we shouldn’t have wasted that lettuce on Liz Truss. The hapless vegetable, monitored by webcam to see if it would outlast the doomed prime minister, could have fed one of the shoppers now staring at bare shelves, as supermarkets ration salads. Metropolitan society rarely gives much thought to agriculture. But the shortage of
“Time to buy Europe” is one of the hardiest perennial trade ideas that somehow never properly takes off. It is a nailed-on certainty that every few months, strategy notes or articles will appear outlining why investors think now is the time to invest in Europe, and not long after that, European stocks will tank. I
There is no interior or furniture designer quite like Caitlin Wilson. Known for her use of color, she has put her own bold spin on traditional design like no one else has. In addition to designing homes, she also operates an online store as well as a brick-and-mortar boutique in Dallas, Texas. From sofas to
Two rating agencies hit Ohio-based UC Health with two-notch downgrades and warned of the potential for further cuts citing operating losses that could lead to future covenant violations. Moody’s Investors Service dropped its rating on the system to Baa2 from A3 Feb. 7 and placed the rating under review for a further downgrade. S&P
Rishi Sunak is preparing to face down his Conservative critics and push ahead with reforms to post-Brexit trading rules in Northern Ireland, with allies saying the vast majority of Tory MPs just want to settle the issue. The UK prime minister spoke to Ursula von der Leyen, European Commission president, on Friday, in a new
Greenberg Traurig gained five public finance lawyers who joined the law firm’s Houston office this month from Orrick. Adrian Patterson, who served as Houston office leader at Orrick, joined Greenberg as a shareholder, along with Robert Collie and James Hernandez as of counsels, and Noe Hinojosa III and Donna McIntosh as associates, the law firm