Eric Hsu remembers a time when he was 10 days away from payday and had just $32 left. He had no savings. “I used the remaining money I had to buy loaves of white bread and I ate that for all three meals until my pay came in,” he told CNBC Make It. “Sometimes I
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The BRICS nations are focusing on increasing their international roles and “enhancing coordination on key multilateral platforms,” Russia’s Minister of Foreign Affairs reportedly revealed after a meeting with BRICS ambassadors. He stressed “the need for joint efforts to counter destructive actions aimed at destroying the established security architecture.” BRICS Seeks Expand Global Influence Russia’s Minister
The International Monetary Fund’s (IMF) economic counselor has warned of the side effects of sharp monetary tightening. Noting that “Inflation is much stickier than anticipated,” he stressed that “financial risks have risen.” IMF Economist’s Warning Pierre-Olivier Gourinchas, Economic Counsellor and the Director of Research of the International Monetary Fund (IMF), shared his global economic outlook
Coinbase CEO Brian Armstrong owes me $100. That’s because he might not know how to use the Lightning Network, the instant payment solution built on top of Bitcoin. Armstrong, who’s been building in the Bitcoin (BTC) space since 2012, recently tweeted that he would pay people who provided the “best examples” of people using cryptocurrency
JPMorgan Chase was aware that Jeffrey Epstein had been accused of paying cash to have underage girls and young women brought to his home seven years before the bank dropped him as a client, legal filings alleged on Wednesday in New York. Mary Erdoes, who is now the head of asset management at the US
The Shapella hard fork has officially been executed on the Ethereum Mainnet— meaning that Ethereum validators can finally withdraw their staked Ether (ETH) from the Beacon Chain. The long-awaited upgrade took effect at 10:27 PM UTC on April 12. Through Ethereum Investment Proposal EIP-4895, staked ETH was pushed from the Beacon Chain to the Ethereum
Texas lawmakers in the state’s Senate have approved a bill aimed at largely removing incentives for crypto miners operating under the seemingly friendly regulatory environment. In a 30-1 vote on the floor of the Texas State Senate on April 12, lawmakers in the 88th legislative session passed Senate Bill 1751, legislation that would amend sections
According to a recent announcement from Binance US, the American-based subsidiary of the largest cryptocurrency exchange by volume, the exchange plans to delist the cryptocurrency asset tron. The news follows Binance’s being sued by the U.S. Commodity Futures Trading Commission (CFTC), and Tron founder Justin Sun’s being sued by the Securities and Exchange Commission (SEC)
They say the third time’s a charm — and that must be true in the Garden State, where for the third time in less than a week, New Jersey received a credit rating upgraded. S&P Global Ratings on Wednesday raised its long-term and underlying ratings on the state’s general obligation bonds to A from A-minus
SoftBank has moved to sell almost all of its remaining shareholding in Alibaba, limiting its exposure to China and raising cash as the market downturn pummels the value of its technology investments. The Japanese group, led by billionaire founder Masayoshi Son, has sold about $7.2bn worth of Alibaba shares this year through prepaid forward contracts,
Municipals were firmer in trading Wednesday as triple-A benchmark yields fell along with U.S. Treasuries after the consumer price index report showed inflation slowing. Equities ended down after the Federal Reserve Open Market Committee signaled another rate hike is likely at its May meeting. The two-year muni-Treasury ratio was at 55%, the three-year at 56%,
The March consumer price index climbed marginally by 0.1%, below economists’ expectation of a 0.2% increase and February’s advance of 0.4%. Although inflation is showing signs of slowing, the year-on-year CPI increased by 5%, well above the Federal Reserve’s 2% target. The FedWatch Tool shows a 67% probability of a 25 basis point rate hike
Chicago’s revisions to its water and wastewater credit features drew an upgrade as the city prepares a nearly $1billion sale of water and wastewater revenue bonds next month ahead of Mayor Lori Lightfoot’s handover of power to Mayor-elect Brandon Johnson. S&P Global Ratings lifted the rating on the second lien for both enterprise systems to
Finance mogul Warren Buffett, one of the most successful investors in history, discussed bitcoin during an interview on CNBC’s Squawk Box on April 12. As he has done in previous interviews, the business magnate likened bitcoin to a gambling scheme and chain letters he received as a child. Buffett Shares His Two Cents on Bitcoin,
The Ethereum network’s planned Shanghai hard fork is nearly here. Planned for April 12, this is the first major upgrade since The Merge in September 2022. The “Shapella” upgrade (a combination of the two major proposals Shanghai and Capella), includes EIP-4895 which enables validators to withdraw staked ETH from the Beacon chain (Consensus layer) to
Muni leaders are digesting new approaches to solving pension fund challenges and monitoring warning signs, with recent evidence suggesting that there may be less cause for alarm than previously believed by many. Despite concerns about underfunded pension plans, a brief published on Tuesday by Louise Sheiner of the Hutchins Center on Fiscal and Monetary Policy at the
Puerto Rico’s February general fund net revenues came in 13.1% above projections, but dropped 4% from February 2022, according to the Puerto Rico Treasury Department. February 2023 net revenues were $870 million. In the first eight months of the fiscal year — July to February — net revenues were up 17.2% compared to the Puerto
President Biden’s veto of a congressional resolution challenging his Environmental Protection Agency’s redefining of “waters of the United States,” sets up a larger battle to play out in the courts for his administration to uphold the rule that is now being challenged in over half the country. Efforts to define WOTUS and stretch the interpretation
Ether (ETH) price has increased by 58% year to date, but it has far underperformed the market leader Bitcoin (BTC). In fact, the ETH/BTC price ratio has dropped to 0.063, its lowest level in 9 months. Analysts believe that the majority of the movement can be attributed to the Ethereum network’s upcoming Shapella hard fork,
Alabama is betting a stake in its economic future on one of its oldest industries. Coal has long been a staple of the state’s economy and could continue to be as state and private sector partners move to phase out mining coal for power generation and raise production of the type of coal needed for
Federal Reserve policymakers scaled back their expectations for rate hikes this year after a series of bank collapses roiled markets last month, and stressed they would remain vigilant for the potential of a credit crunch to further slow the economy, a record of the meeting showed. “Many participants noted that the likely effects of recent