When memecoins go parabolic, it’s usually a market top signal and a warning that investors’ euphoria has peaked. The market witnessed similar speculative fury in the 2020 to 2021 bull market when Dogecoin (DOGE) chased after $1, Shiba Inu (SHIB) rallied by tens of thousands of percent, and NFT prices hit eye-watering six to seven-digit
Last week the Internal Revenue Service notified the Clark County School District that its $338.4 million bond issue in 2015 will remain tax exempt, closing an audit first disclosed in April. According to a notice listed in EMMA, the district “received a letter informing the issuer that the IRS ‘completed the examination for the issue and dates
Argentina’s voters have taken a leap into the unknown after electing Javier Milei, a radical libertarian outsider, as president in the hope that his promise of shock therapy can cure its sickly economy. Rightwing populists in the shape of Donald Trump and Italian premier Giorgia Meloni were quick to offer congratulations to Milei, the mop-haired
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. In its blazingly brief history, OpenAI has become famous for two things: astronomical technological ambition and comical corporate governance. That is not a happy combination. The board’s abrupt sacking of Sam Altman, OpenAI’s chief executive,
Hosting an event is a major endeavor, whether it’s a formal or casual dinner, holiday party, kids’ birthday party or sleepover, or accommodating family and friends overnight in the perfect guest bedroom. A gift for the host or hostess shows that you appreciate all that goes into pulling off these types of events. So, we
The S&P 500 Index (SPX) rose 2.24% last week, its third consecutive weekly gain. In comparison, Bitcoin (BTC) managed a minuscule gain of 0.8%, indicating consolidation below $38,000. The prospects for risky assets remain bullish as the U.S. Dollar Index has started to turn down. Cryptocurrency investors have not parted with their Bitcoin holdings, even
Dallas should use actuarially determined contributions for its troubled police and fire retirement system in order to reach full funding by 2055, according to preliminary recommendations from an independent actuary firm. The suggested move to allocate more city revenue to the system comes as the unfunded liability is rising and the use of pension obligation
Florida’s labor force grew by 0.2-percentage points in October while the state’s private-sector employment increased 0.3% and the unemployment rate remained steady, FloridaCommerce reported. “Florida’s unemployment rate remains at a low 2.8% and we continue to see job growth month after month, bucking national trends,” Florida Gov. Ron DeSantis posted Friday on X, formerly Twitter.
Remember when penthouses were squalid structures? Of course, you don’t. It was more than 100 years ago that rooftop lean-tos and sheds were built to house servants atop New York City’s tall buildings. Since then, the allure of living in sky-high residences has soared, along with prices and prestige reserved for the very few. The
The fine print of a revised fiduciary rule proposed by the Biden administration carries a potential impact on the corner of the municipal market that engages in “riskless principal transactions” for taxable munis. The Department of Labor’s proposed Retirement Security Rule would increase regulations around which kind of financial advice and transactions on retirement accounts
ARK Investment Management, a major cryptocurrency investment firm founded by Bitcoin (BTC) advocate Cathie Wood, isn’t giving up on its efforts to launch a spot Bitcoin exchange-traded fund (ETF) in the United States. ARK Invest, on Nov. 20, filed another amended prospectus for its spot Bitcoin ETF product developed in collaboration with the European digital asset
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. The boss of Huel said he was open to a sale of the meal replacement maker, admitting that the flagging initial public offering market has made a UK listing less attractive. Chief executive James McMaster
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Boris Johnson was “bamboozled” and “confused” by the scientific modelling and data presented to him during the pandemic, the UK’s Covid-19 public inquiry heard on Monday. The hearing was shown some of the diary entries
What’s happened now? The artificial intelligence company OpenAI fired its co-founder Sam Altman, who then joined Microsoft. Some other people have changed their jobs too but none is as famous as Altman. Do I need to care? Not really, unless you’re a Microsoft shareholder, in which case you still don’t need to care that much.
The Port Authority of New York and New Jersey released a proposed budget for 2024 upping capital spending to pre-pandemic levels for the first time. At $9.3 billion total, the plan is one billion dollars larger than 2023’s and provides for $3.9 billion in operating expenses, $3.6 million in capital spending, and $1.8 billion for
The crypto community and many of its most high-profile players have started to shift their focus toward the Bitcoin halving, a 4-year cyclic event that cuts the Bitcoin market supply in half. With the next halving event scheduled for April 2024, the Bitcoin mining reward will reduce from the current 6.25 BTC per block to
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. The NHS has agreed a deal with global pharmaceutical companies after tense negotiations, raising the growth cap on the health service’s bill for branded drugs from a 2 per cent annual increase to 4 per
The international arm of Spanish lender Banco Santander has reportedly rolled out a new service, allowing clients with Swiss accounts to invest in and trade Bitcoin (BTC) and Ether (ETH). According to a report from Coindesk claiming access to a leaked internal communication, high-net-worth individuals of Santander Private Banking International will have access to trade
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Javier Milei may have won an unexpectedly large majority in Argentina’s presidential election but the self-declared “anarcho-capitalist” faces huge obstacles to implementing his radical programme to shrink government and dollarise the economy. Argentina’s dire state,
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. “A date that will live in infamy” was how Franklin Delano Roosevelt described December 7 1941 — the day that Japan attacked America at Pearl Harbor, killing 2,403 US personnel, including 68 civilians. In response,
Global cryptocurrency exchange-traded products (ETP) have seen a significant uptick in 2023, reportedly outpacing the growth of underlying assets, according to a report by digital asset platform Fineqia. Crypto-based ETPs issued by companies like 21Shares, Grayscale and CoinShares recorded a 91% increase in total assets under management (AUM) from Jan. 1 to Oct. 31, 2023,