Nigerian economic experts have said the country’s five-year-old currency swap agreement with China has not eased the pressure against the Nigerian currency. According to one expert, implementation of the swap arrangement is being held back by the size of the trade imbalance between Nigeria and China Easing Pressure on the Naira According to experts on
On April 14, 2023, the Department of Justice (DOJ) for the Southern District of New York revealed that the hacker responsible for the Silk Road marketplace breach had been sentenced to a year in prison for wire fraud charges. James Zhong stole more than 50,000 bitcoin from the darknet marketplace (DNM) in September 2012. DOJ
Digital art auction house Sotheby’s has altered its latest art sale significantly after receiving community feedback regarding a lack of diversity, meanwhile a novice player in Illivium: Beyond has made a staggering profit of 140,525% by finding the most elusive character in the game yet. Sotheby’s reboot Glitch Digital Art Sale after addressing diversity concerns
The G20 finance ministers and central bank governors have agreed that crypto regulation cannot be confined to one part of the world, said India’s finance minister. “Any action on crypto assets will have to be global,” she stressed, adding that the G20 finance chiefs’ discussion on crypto was “very substantive.” G20 Finance Chiefs on Crypto
A rise in the number of costly apprenticeships given to older employees has led to fears that younger workers are being excluded from the UK government’s flagship training scheme. The proportion of over-25s starting apprenticeships increased from 43 per cent in 2015 to 47 per cent last year, according to government figures. Meanwhile, the number
NHS data specialists have warned against the rollout of Palantir’s software across the organisation, as the US tech company vies for a £480mn contract to build the UK health service’s operating system. Palantir, led by chief executive Alex Karp and co-founded by Peter Thiel, the tech investor and prominent backer of Donald Trump, became the
Countries must exert greater control over gold imports and companies dealing in contraband supplies of the precious metal from the Amazon region should be punished, Brazil’s government has said. Sonia Guajajara, the country’s first indigenous affairs minister, called for more support from foreign governments and industry in tackling illegal gold mining, a priority for the
BT held “war games” to prepare for the disruption from a potential conflict between China and Taiwan, in a sign of companies’ growing unease over escalating tensions in the region. Staff at the telecoms group’s Dublin-based procurement business took part in the two-day exercise last year, during which they modelled how they would secure BT’s
US climate envoy John Kerry has defended the United Arab Emirates against “unfair” criticism of its role as the host of this year’s COP28 conference in Dubai, saying it was important to bring oil-producing nations into the UN environment talks. Climate campaigners have been increasingly critical of the growing influence of the global fossil fuel
Congratulations might be in order: I now have a side hustle. It’s my very own new line in part-time work, bringing variety to the mid-life grind. But keep the champagne on ice — it turns out it’s a job nobody wants: dealing with the admin that follows a bereavement. We lost my beloved Dad just
The author is managing director for Europe at Eurasia Group The French-German “motor” that has been at the EU’s heart for six decades has broken down. The biggest culprit is the new government in Berlin. Chancellor Olaf Scholz is mostly concerned with the unity of his coalition and Germany’s economy. If he lifts his head
On one side will be around 35,000 Ukrainian soldiers, bolstered by western battle tanks. They will face more than 140,000 enemy troops along a 950km frontline. Separating the two forces will be a deadly obstacle course of mines, earthworks and tank-stopping bollards set by the Russians. The day is soon approaching when Ukraine will attempt
The head of the IMF’s Africa department has called for a significant increase in international support to help countries overcome a funding squeeze that is jeopardising the continent’s economic development. Abebe Selassie told the Financial Times that reform of the current mechanisms for dealing with unsustainable debts of African countries was “desperately needed”. “Do we
Russia’s foreign minister says a flight from the U.S. dollar “is sure to accelerate,” emphasizing that “this trend is irreversible.” The official added: “The path of sanctions is the path to nowhere. Serious countries and sober-minded politicians are drawing relevant conclusions and these conclusions are definitely in favor of terminating dependence on the West.” Russian
Jeffrey Tucker says we are at the turning point for the U.S. dollar, citing a growing de-dollarization trend. “The dollar’s just not going to be king,” he warned, adding that history will record recent events “as the turning point for the dollar.” Jeffrey Tucker on De-Dollarization, USD’s Turning Point Jeffrey Tucker, an author and publisher
Former U.S. President Donald Trump has warned that the U.S. losing a currency war against China would be like America losing a world war. “We’ll be a second-tier country,” Trump cautioned, adding that the U.S. dollar is “what makes us powerful and strong.” Donald Trump on US-China Currency War Former President Donald Trump warned in
Top Stories This Week Ethereum’s Shapella hard fork executed on mainnet The Ethereum blockchain’s mainnet, also referred to as the Beacon Chain, implemented the Shapella hard fork on April 12. The upgrade made fund withdrawals possible for those who have staked the network’s Ether (ETH) asset. Within the first hour of the hard fork, a
Economist Paul Krugman questioned why Republican Florida governor Ron DeSantis opposes a central bank digital currency (CBDC) in a recent opinion editorial. Krugman suggested that DeSantis may be motivated by “general paranoia.” He speculated that DeSantis may be influenced by individuals who fear a digital currency could hinder “un-woke activities such as tax evasion and
Blackrock’s CEO, Larry Fink, stated in an interview on Friday that he does not anticipate a “big recession” in the United States. However, he believes that “inflation is going to be stickier for longer.” In contrast to the U.S. central bank’s 2% goal, Fink predicts that “we’re going to have a 4ish floor in inflation.”
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Entrepreneur Elon Musk is preparing to launch a startup that will compete with Openai, the creator of Chatgpt, a media report unveiled. According to quoted knowledgeable sources, the owner of Twitter and Tesla is already assembling a team of developers and talking to investors. Elon Musk Reportedly Working to Establish Openai Rival, Registers X.AI Corp