The writer is chief investment officer of emerging market debt at FIM Partners Debt and currency investors went into the Turkish elections pricing in a high chance of an opposition victory in the first round. Such victory was meant to bring about a return to economic orthodoxy even if it was understood that the macro
On May 15, 2023, the Bitcoin Cash network achieved another annual milestone by seamlessly integrating four cutting-edge features into its consensus ruleset. At precisely 1:24 p.m. UTC on Monday, the eagerly anticipated upgrade went live, marking a significant leap forward for the peer-to-peer electronic cash platform. Bitcoin Cash fans believe the transformative changes are set
Your guide to the exhiliarating and vaguely terrifying world of runaway AI development. It’s been a hell of a couple of weeks for Melbourne digital artist Rhett Mankind, 46, who enlisted ChatGPT to create a $100 million market cap coin called Turbo, which has now inspired a Beeple artwork and saved a man’s life. Mankind,
The Department of Commerce has imposed a 10-year export privilege bar on Virgil Griffith, an Ethereum developer currently serving a five-year prison sentence. This bar restricts him from enjoying export privileges until April 12, 2032. The export privilege ban affects his ability tonparticipate in international trade and business. On April 12, 2022, Virgil Griffith was convicted in
Soaring UK inflation is not the result of higher company profit margins, even for food prices, a former Bank of England interest rate setter has said, echoing similar findings by current members of the Monetary Policy Committee. Michael Saunders, senior economic adviser at consultancy Oxford Economics, said on Monday that “greedflation”, where businesses drive up
Bitcoin was back in the green on Monday, as prices climbed back above the $27,000 level to start the week. Prices slipped to a two-month low over the weekend, however momentum has marginally shifted. Ethereum was also higher today. Bitcoin Bitcoin (BTC) jumped back above the $27,000 level to start the week, as sentiment showed
Beach homes are seen on September 30, 2020 in Southampton, New York. Kena Betancur | AFP | Getty Images An oversupply of summer rentals in the Hamptons is spurring price cuts of 20% or more, as affluent Wall Streeters and tech workers cut back on their summer spending. There are now about 5,700 seasonal rentals
European and Asian stocks rose on Monday as investors cheered German economic data that indicated inflation in Europe’s largest economy was slowing. Europe’s region-wide Stoxx 600 rose 0.2 per cent, extending its rally from last week, while France’s Cac 40 edged up 0.4 per cent and London’s FTSE 100 gained 0.3 per cent in the
“Hide your brightness, bide your time.” That famous piece of advice from Deng Xiaoping has served China well over the past 40 years. Deng, the leader whose economic policies transformed China, understood that if his country was to become richer and stronger, it must avoid confrontation with the west. But Xi Jinping, who has led
The cost of buying insurance against default on Turkish bonds has shot up to its highest level since November as investors brace themselves for further market stress on signs that incumbent Recep Tayyip Erdoğan appeared on course to clinch the country’s presidential election. The “spread” on five-year credit default swaps jumped more than 100 basis
In this article SOFI DD SCHW SHAK Follow your favorite stocksCREATE FREE ACCOUNT Sopa Images | Lightrocket | Getty Images Check out the companies making the biggest moves in premarket trading: Shake Shack – The fast food chain saw its stock gain nearly 4% after the Wall Street Journal reported that activist investor Engaged Capital
Higher interest rates have so fundamentally shifted the financial environment that investors must focus on a company’s ability to maintain margins rather than just its growth prospects, veteran private equity executive Chip Kaye said. “This moment is different than anything we have had in the 40 years before . . . with inflation proving stickier and interest rates higher
press release PRESS RELEASE. Reef is thrilled to announce the launch of a $10 Million Accelerator Program for Web3 projects building on the Reef Chain, which are based out of the Middle East. The program, managed by Reef Labs, aims to support, incubate, and invest in promising Middle East-based Web3 developers, teams, and projects building
Analysts have criticized the new ‘de-risking’ strategy that the U.S. is currently using against China, explained by U.S. National Security Advisor Jake Sullivan in April, clarifying that national security was over economic costs. These de-risking policies might affect bilateral trade, which fell by 11.2% to $217.9 billion during the first four months of 2023. ‘De-Risking’
Flush with confidence that victory against Recep Tayyip Erdoğan was finally within reach, Turkey’s main opposition candidate Kemal Kılıçdaroğlu called on voters to “finish it” in the first round. But rather than ending Erdoğan’s two-decade long rule, the tally from Sunday’s presidential election has triggered soul searching in the opposition’s camp — with the second
The Bitcoin (BTC) network has faced a litmus test in recent weeks due to the increased demands of Ordinals and BRC-20 tokens being inscribed onto the preeminent blockchain. The resulting increase in fees and transaction congestion has left the wider Bitcoin community frustrated, considering that some BRC-20 tokens involve meme tokens that have attracted billions
Bitcoin (BTC) is fighting for the bull trend as the new week begins as the market acts within a crucial zone. After closing the weekly candle at just below $27,000, BTC/USD is attempting to cement support as a stubborn trading zone holds. The stakes are already high — last week saw a flash dip below
Can a bond that no longer exists trigger a default? This is the quasi-metaphysical question facing the panel of experts who have to determine whether Credit Suisse’s credit-default swap contracts will pay out. Call it Schrödinger’s swap. While most in the market had assumed that Switzerland’s decision to vapourise $17bn of Credit Suisse’s Additional Tier
Major cryptocurrency Bitcoin (BTC) could become a top three asset in the event of a theoretical debt default in the United States, according to a new survey. As U.S. President Joe Biden prepares to meet with Congress on May 16 to discuss the U.S. debt ceiling, investors are seeking hedges to protect their savings in
A member of the South Korean parliament is leaving his party amid mounting allegations of massive crypto investments inconsistent with his frugal public image. The controversy, which has caught the attention of the Korean society, involves accusations of conflict of interest and other irregularities. Lawmaker Leaves South Korean Opposition Party Over Crypto Holdings Kim Nam-kuk,
Rishi Sunak will promise to send more military hardware to Ukraine when he meets Volodymyr Zelenskyy in a surprise meeting at Chequers, the UK prime minister’s country residence near London. The Ukrainian president has been visiting European capitals over the weekend as he drums up support for his country ahead of an anticipated counter-offensive against