The writer is a contributing columnist, based in Chicago It’s been a rough few decades for American horseracing — and the past few weeks could mark a new low point for the sport of kings. This should be prime time for the sport: for a magical few weeks in spring and summer, three-year-olds compete in
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“How does an eleven-year-old boy understand and process that his beloved father has been shot down and is missing?” asked Sidney Bailey Stockdale, the second of four sons of Medal of Honor recipient Vice Admiral James Bond Stockdale, in his recently released memoir, A World Apart: Growing Up Stockdale During Vietnam. And how does his
Bitcoin (BTC) starts a new week in an altogether different mood as the weekly candle close brings a move higher. The largest cryptocurrency, still stuck in a narrow range, is at last showing signs of life after several spikes to two-month lows. With volatility back in play, traders nonetheless remain conflicted — can short-timeframe strength
Singaporean state investor Temasek cut the pay of staff responsible for its failed $275mn investment in FTX, Sam Bankman-Fried’s cryptocurrency exchange that collapsed last year. Temasek, one of the world’s largest investors, said it was “disappointed” with the investment and the “negative impact on our reputation”, after it was criticised for backing the start-up. The
Spain’s prime minister Pedro Sánchez has called a snap general election in July after his Socialist party suffered a resounding defeat in local and regional elections on Sunday. Sánchez made the surprise announcement on Monday morning as the conservative People’s party was still celebrating its huge electoral gains across the country. The PP will need
Counting had not even concluded in Turkey’s run-off election on Sunday evening when President Recep Tayyip Erdoğan climbed atop a bus in his hometown of Istanbul to declare victory. “We will be together to the grave,” Erdoğan proclaimed to booming applause before flying to Ankara, the capital city, to deliver a formal victory speech to
Asian equities were broadly higher and US stock futures rose on Monday after US president Joe Biden struck a deal with Republican House Speaker Kevin McCarthy that would raise the US debt ceiling and prevent an unprecedented default in early June. Japan’s benchmark Topix stock index and Australia’s S&P/ASX 200 both rose about 1 per
Former Bitmex CEO Arthur Hayes is expecting to see significant Bitcoin volatility in the latter half of the year, caused by a “powder keg” explosion from the United States banking crisis and soaring national debt. Hayes, who currently runs a crypto-focused investment fund Maelstrom, spoke on the What Bitcoin Did podcast on May 26, making a
The writer is chief investment officer of asset & wealth management at Goldman Sachs Once a decade or so, real property values experience a sizeable reset, typically driven by factors related to overbuilding, interest rate movements, dislocation in capital markets or downturns in broader economic conditions. The outbreak of the Covid-19 pandemic in early 2020
When Wing-sun Chan left the social and political upheaval of Hong Kong for the outskirts of Manchester two years ago, he embodied several trends at once. Like many in this new diaspora, the 39-year-old father of two was drawn to a leafy northern suburb known for its strong education system. He also prioritised integration into
Corporate distress caused by inflation and rising interest rates is set to spread from smaller to larger UK companies, according to recovery specialists Begbies Traynor and FRP Advisory. Ric Traynor, executive chair of Begbies Traynor, said smaller businesses had so far dominated rising levels of insolvencies and driven the number of liquidations above pre-pandemic levels.
More than a decade after the closure of the News of the World — and almost twenty years since the offences in question — newspapers have been pulled once more into court over phone-hacking claims. But this time, executives from three newspaper groups are facing a new and potentially more implacable opponent in Prince Harry,
An Ether (ETH) wallet that has been inactive since Ethereum’s ICO (Initial Coin Offering) in 2015, has suddenly awoken after eight years of dormancy, moving a total of 8,000 ETH in just two minutes. The wallet received the 8,000 ETH after participating in Ethereum’s ICO (Initial Coin Offering) in 2015 and remained inactive until May 27.
Japan, declares tourist after tourist, investor after investor, is red hot. The yen is tumbling, the shopping is amazing, the stock market is flying, the sushi is cheap. It is also, perhaps, the only place in the world right now where you can buy a globally successful $20bn company for free. And glorious though that
For Anna Li, this year has been the worst she can remember for finding a job in China — harder even than during the pandemic. “I’ve been applying for jobs for half a year. I’m really exhausted but I’ve not received an offer yet,” the 25-year-old graduate in the country’s wealthy eastern Shandong province said,
Spain’s conservative People’s party inflicted a resounding defeat on the ruling Socialist party in local and regional elections on Sunday, but despite its big gains the PP will need the support of the hard-right Vox party to govern in many areas. The vote in 12 regions and more than 8,000 municipalities was a crucial test
With its historic Merge event in September, Ethereum has become a proof-of-stake blockchain. The mechanism now used to confirm transactions relies on validators staking their Ether (ETH). Ethereum’s March upgrade, codenamed Shanghai, finally enabled stakers to withdraw their locked Ether. The Ethereum ecosystem’s “investment themes” have included a) decentralized finance (DeFi) b) stablecoins c) Bitcoin
Tens of thousands of public and private sector pension plans would be pooled into “GB superfunds” with assets of up to £500bn each under “extremely radical” proposals to unleash tens of billions for UK business growth. The measures set out in a report from the Tony Blair Institute are aimed at reversing years of capital
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The United States looks to avoid a catastrophic debt default after the White House and the House Republicans agreed upon a tentative deal on May 27. The U.S. equities markets rallied in anticipation of the deal on May 26 and the positive sentiment has rubbed off onto the cryptocurrency sector, which is attempting a recovery.
Bitcoin may be the answer to combat cybersecurity threats driven by artificial intelligence, such as deepfake, said Michael Saylor, executive chairman of MicroStrategy, during a recent interview with Kitco News. Saylor illustrated his views using social media accounts created by robots as an example. According to him, billions of fake accounts are behind a digital