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European stocks rose at the open on Monday as traders balanced their concerns over a potential recession and its implications for interest rates against better than expected results from several of the biggest banks in the US. Europe’s region-wide Stoxx 600 added 0.4 per cent, Germany’s Dax also rose 0.4 per cent and London’s FTSE
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U.S. Treasury Secretary Janet Yellen talked about the dangers that sanctions based on the U.S. dollar might pose for the hegemony of the currency in international markets. According to Yellen, the government tries to use sanctions “judiciously,” as they can create a desire to find alternatives to the U.S. dollar. U.S. Treasury Secretary Yellen Talks
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The United States-based cryptocurrency exchange Bittrex is reportedly facing potential action from the U.S. securities regulators despite preparing to shut down local operations. The enforcement division of the U.S. Securities and Exchange Commission (SEC) is inclined to recommend the agency sue Bittrex over alleged violations related to investor protection, The Wall Street Journal reported on
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The government of China protested the enactment of sanctions on a series of national companies by the U.S., barring them from doing business with U.S.-based entities for allegedly collaborating with Russia. China’s Commerce Ministry criticized the move, saying it is a “typical form of long-arm jurisdiction,” which damages the rights and interests of these companies.
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Blockchain technology needs a benchmark communications standard that can be easily integrated by every network in order for a complete transition from Web2 to Web3 to occur, industry commentators say. Many expect there will be multiple blockchains and such an ecosystem requires communication protocols similar to the Transmission Control Protocol/Internet Protocol (TCP/IP) used on the
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Welcome to Latam Insights, a compendium of the most relevant crypto and economic development news from Latin America during the last week. In this issue: Inflation in Argentina goes over 100%, El Salvador issues its first digital assets licenses, and the crypto-linked corruption probe in Venezuela is still ongoing. Argentina Registers 104.3% Inflation In March,
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Immigration is back, in the US at least. Over the past two and a half years, immigration into the American labour market has increased by 4mn workers, and the working age immigrant population has now finally reached its pre-pandemic trend level. This is likely to be a central factor in strong employment growth, particularly in
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You might think that bank regulators would be feeling a little jittery these days — in short order, three US lenders and the globally systemic Credit Suisse became victims of a not-so-mini-banking crisis that all too closely resembled the chaotic collapses of 2007-08. Instead, there is a quiet sense of satisfaction. The failures were contained
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Global regulators are considering imposing tougher rules on smaller lenders and requiring all banks to ready themselves for faster runs on deposits as officials search for lessons from the recent turmoil that led to the failure of several midsized US institutions. The Basel Committee on Banking Supervision, which sets global standards, promised in March to
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Securities and Exchange Commission (SEC) chair Gary Gensler could be facing unemployment after United States Representative Warren Davidson declared he would introduce legislation to fire the SEC boss. In an April 15 tweet responding to Coinbase’s legal chief, Paul Grewal, the crypto-friendly Representative announced his intention to have Gensler removed from his role after the
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Brazil’s President Luiz Inacio Lula da Silva’s chief adviser on foreign policy, Celso Amorim, says China and Brazil “are coming closer together” and they could play important roles in building a less centralized world with no hegemony. Commenting on de-dollarization, he stressed: “I think it’s very important that we are free from the dominance of
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India: Several three-day meetings begin under India’s G20 presidency: the health working group gathers in Goa, the digital economy working group meets in Hyderabad and chief agricultural scientists convene in Varanasi. The two-day G20 Space Economy Leaders Meeting begins in Shillong. Prime Minister Narendra Modi travels to Somnath to inaugurate the Saurashtra Tamil Sangamam, a
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