A gold-plated European parliament pension scheme is set to run out of money within two years, putting payouts at risk for almost a thousand members including the Brexiter Nigel Farage and Marine Le Pen, the French far right leader. Senior MEPs are fighting to avoid a €300mn taxpayer bailout of a special voluntary scheme for
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Bitcoin mining company Terawulf has announced the full deployment of its 50-megawatt (MW) stake in the nuclear-powered Nautilus Cryptomine facility. The behind-the-meter bitcoin mining facility is powered by 100% nuclear power and benefits from a fixed power cost of $0.02 per kilowatt-hour (kWh), according to the company. Terawulf Fires up 50 MW Zero-Carbon Bitcoin Mining;
A bill signed into law on April 11 has made gold and silver legal tender in the U.S. state of Arkansas, allowing citizens to use gold and silver coins to pay debts. The bill also clarifies that gold and silver “specie” (coins) will not be considered property for tax purposes, and transactions made with these
Investors representing $4.5bn of wiped-out Credit Suisse bonds have filed a lawsuit against Switzerland’s banking regulator, in a dispute which challenges the country’s reputation as the world’s most politically stable and reliable financial centre. The claim is the first to be brought by holders of $17bn of Credit Suisse convertible bonds which were rendered worthless
London has always been a demographic conveyor belt. Every year, it pulls in tens of thousands of recent graduates. They spend a decade or so climbing the professional ladder in the hope of making enough money to get on to the housing one, and then in their thirties many of them bid the capital farewell
Ursula von der Leyen sat in the VIP carriage of a Ukrainian train, a slight figure clad in a collared shirt and light jumper. Rattling through dark, forested countryside an hour outside Kyiv, the European Commission president and her entourage were making their way back towards the EU border. The table had been cleared of
China is building sophisticated cyber weapons to “seize control” of enemy satellites, rendering them useless for data signals or surveillance during wartime, according to a leaked US intelligence report. The US assesses that China’s push to develop capabilities to “deny, exploit or hijack” enemy satellites is a core part of its goal to control information,
As the term of their mortgage neared its end in September last year, Iona and her husband began the search for a new deal. The couple, both architects in their mid-30s who asked to remain anonymous, saw their 1.6 per cent rate leap to 4.7 per cent on the best three-year fixed deal they could
Once upon a time, pensions ensured that people could live a comfortable and happy retirement. Not any more. Pensions are a magic wand to wave at a variety of UK economic problems, from an ailing stock market or low productivity to regional inequality. To the extent that they can play a role in tackling these
A University of Tehran professor and member of Iran’s Presidential Delegation to China has stressed the importance of de-dollarization for the international community. “The dollar has been used as a weapon by the U.S. against different countries. It is unreliable and it is dangerous,” the professor warned. Iranian Professor Stresses the Importance of De-Dollarization Professor
Criticism has been leveled at a new euro-pegged stablecoin released in France due to a decision to restrict peer-to-peer transactions. French bank Societe Generale-Forge (SGF) released the Ethereum-based stablecoin called EUR CoinVertible (EURCV) on April 20 which is available to only qualified institutional clients. According to observers who reviewed its smart contract code, ERC-20 transfers
Bloomberg Intelligence’s senior commodity strategist, Mike McGlone, has warned that the U.S. economy is “heading towards a severe deflationary recession,” emphasizing that the Federal Reserve is still tightening. “Typically, when you have commodities collapsing at this velocity in the past, the Fed has already been easing, and they’re still vigilant against that,” he cautioned. Strategist
UK consumer confidence increased in April, according to data published on Friday, suggesting early signs of an economic recovery. The consumer confidence index issued by market researcher GfK rose six points to minus 30 in April, following a two-point increase in the previous month. All measures were up over March, with the forecast for the
Fewer nations are willing to hold the U.S. dollar as America’s share in the global economy becomes smaller while China’s role in international trade expands, billionaire Ray Dalio noted. The founder of the world’s largest hedge fund also said that Western sanctions on Russia have highlighted new risks of keeping dollar assets. ‘Dollar Is Debt,’
Our weekly roundup of news from East Asia curates the industry’s most important developments. Three Arrows Capital (3AC), a once bourgeoning Singaporean hedge fund worth an estimated $10 billion at is peak, was utterly obliterated by the bear market last year. However, the carnival it has created since the initial blowup still lives on, and
In this article WRB PPG KNX CSX Follow your favorite stocksCREATE FREE ACCOUNT A CSX freight train is seen in Orlando. Paul Hennessy | Lightrocket | Getty Images Check out the companies making headlines in extended trading. CSX — The transportation company’s shares were up 2.6% after the company’s first-quarter earnings and revenue topped analysts’ expectations.
Municipals were mixed Thursday, but the selloff appeared to subside, just as muni mutual funds saw the largest outflows year-to-date. U.S. Treasuries rallied and equities ended down. Outflows from municipal bond mutual funds intensified as Refinitiv Lipper reported $2.876 billion was pulled from them as of Wednesday after $255.794 million of outflows the week prior.
According to onchain data, a bitcoin whale address transferred 2,071.5 bitcoin, worth approximately $60 million, after remaining dormant since December 19, 2013. Interestingly, this bitcoin address is linked to two wallets that sent 10,000 BTC last summer for the first time in nine years and are associated with the now-defunct exchange Mt Gox. 2,071 Bitcoin
Pedestrians walk through a street crossing in front of the American electric company car Tesla Motors official authorized car dealer store in Hong Kong, July 13, 2022. Budrul Chukrut | SOPA Images | Lightrocket | Getty Images Check out the companies making headlines in midday trading. Tesla — Shares tumbled nearly 9%. The action comes
The Florida Legislature has passed a bill that bans the issuance of municipal bonds using environmental, social or governance standards. The bill now heads to Gov. Ron DeSantis for his signature. House Bill 3 passed in the Senate by a 23 to 12 vote along party lines. It was approved last month by the House
Want to live like a member of the Roy family? As Succession’s Season 4 continues, viewers get an even deeper glimpse into the lives of the ultra-wealthy Roy family, including their homes. While it was only on screen for a few seconds, the Manhattan penthouse of Kendall Roy at the start of Episode 4 showcased