Are mainstream investors ready for disaster? With the clock ticking close to a US government debt default described by Treasury secretary Janet Yellen as an “unthinkable” move with “dreadful consequences”, we could be about to find out. For specialist hedge fund managers who make money only in the event of calamities such as financial crises
Islamabad, Pakistan’s military-built capital, had the look of a city under siege on Friday. Shipping containers and trucks blocked the roads in an effort to thwart citizens stirred to action by their support for one man: Imran Khan. The previous afternoon, the leader of one of Pakistan’s main political parties had walked out of the
By the middle of the 1980s, television host and media mogul Merv Griffin was making retirement plans from his hit talk show, The Merv Griffin Show, which had been on the air for more than 20 years. The success of his production companies, Merv Griffin Enterprise and Merv Griffin Entertainment—responsible for creating the game shows
Despite the broader crypto-economy experiencing a downward trajectory, dropping 1.59% in the past 24 hours and hovering around $1.11 trillion, the BRC20 token economy has bucked this trend, expanding from $279 million to over $427 million within five days. Impervious to Market Slump, BRC20 Tokens Defy the Odds Built atop the Bitcoin blockchain, the recently
MakerDAO, the decentralized autonomous organization (DAO) behind the Dai stablecoin and its related Maker governance token, recently announced a slew of planned updates to its ecosystem, including a heavy focus on artificial intelligence (AI) technologies and the planned development of a new blockchain. Beginning with an upgrade to unify the organization’s brand, the new roadmap
Macro Markets, hosted by crypto analyst Marcel Pechman, airs every Friday on the Cointelegraph Markets & Research YouTube channel and explains complex concepts in layperson’s terms, focusing on the cause and effect of traditional financial events on day-to-day crypto activity. Today’s show starts by discussing the economic crisis in Argentina, a Latin American country that
Massachusetts Gov. Maura Healey’s tax relief package is one step closer to passage despite slumping revenue figures. On Tuesday, the state Senate Ways and Means Committee unanimously passed a $55.8 billion budget for fiscal ’24, forwarding along to the Democratic-controlled chamber a $575 million tax cut plan that preserves many of the proposals the governor
The Puerto Rico Oversight Board will not be forced to turn over documents that may have provided a clearer picture of finances pertinent to the Puerto Rico Electric Power Authority bankruptcy. The U.S. Supreme Court reversed an appeals court decision, rejecting journalist group Centro de Periodismo Investigativo’s (CPI) request for Puerto Rico Oversight Board papers.
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In a pine forest on the northern edge of Kyiv one afternoon this month, Senior Sergeant Yaroslav of the Bureviy (“storm”) assault brigade gathered his rookie soldiers for a pep talk. In no uncertain terms, he outlined the mission ahead of them. “You are being trained to assault, not to defend,” he said. “We will
UBS will pay $850,000 to a Texas public school district in a settlement over the bank’s inability to underwrite bonds under a state law prohibiting government contracts with companies that “boycott” the fossil fuel industry, the state attorney general announced Friday. The settlement involves a $18.6 million Normangee Independent School District competitive bond sale the
Bitcoin (BTC) extended its decline on May 12 but analyst Philip Swift, co-founder of trading suite DecenTrader and creator of data resource LookIntoBitcoin, does not expect a deep correction. He said it was “interesting to note that the long/short ratio has been climbing as price has trended down.” One of the reasons that is keeping
The Congressional Budget Office has warned there is a “significant risk” that the US government will be unable to “pay all of its obligations” in the first two weeks of June if the debt ceiling is not raised. The intervention by the government spending watchdog reinforces US Treasury secretary Janet Yellen’s warning that the federal
A stylishly renovated multiroom apartment in New York City comes with large living spaces and is situated in the Lifesaver Lofts, a turn-of-the-last-century factory that once manufactured the iconic candies. The building is located in Manhattan’s Chelsea neighborhood, less than a block from both the High Line and the Chelsea Piers sports complex as well
Only four owners have called Denholm mansion in the Sydney suburb of Woollahra home in its more than 100-year history. Among them was former Liberal Party heavyweight Sir John Atwill, who during his 50-year ownership received a variety of distinguished guests including the venerable Margaret Thatcher. Befitting this provenance, the landmark estate recalls the elegance
Shiba inu moved close to a five-month low on Friday, as meme coins reacted to news that Elon Musk has found a new Twitter CEO. Musk tweeted, “Excited to announce that I’ve hired a new CEO for X/Twitter. She will be starting in ~6 weeks.” Dogecoin neared a two-month low today. Shiba Inu (SHIB) Shiba
President Joe Biden has tapped Philip Jefferson for the number two position on the Federal Reserve Board of Governors. If confirmed, Jefferson, who joined the board last year, will succeed former Gov. Lael Brainard as the Fed’s vice chair. Brainard vacated the position to lead the National Economic Council in February. A former administrator at
New York City has recovered 99.4% of private-sector jobs it lost in the pandemic, but unevenly across key industries, according to a study released Friday by state comptroller Thomas DiNapoli. “We are seeing strength in the securities, transportation and warehousing and office sectors,” DiNapoli said “but retail, restaurants, construction and tourism continue to lag the
Turmoil in the bank sector may accelerate concentration of the municipal bond buyer base, as banks shed muni holdings and pull back from buying more. Instability among smaller banks began in March with the collapse of SVB and New York’s Signature Bank following aggressive rate-hiking by the Federal Reserve that has led to a mismatch
Russia’s defence ministry claimed a long-awaited Ukrainian counter-offensive had begun, pointing to intensifying attacks in eastern Ukraine over the past 48 hours. The ministry said on Friday that Ukraine had launched 26 assaults along a 60-mile stretch of the frontline near Bakhmut and the nearby town of Soledar, involving more than a thousand troops and