By now the US Treasury market’s unnerving fragility back in 2020 has been pretty comprehensively dissected. But the Office of Financial Research last week published an interesting new take on one of the freakiest financial mishaps of the past decade. For people blissfully unaware of what happened, in March 2020 Treasuries went from being an
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Chinese authorities have fined leading crypto mining hardware manufacturer Bitmain for tax-related violations, local media reported. The penalty comes amid increasing tax checks in the digital asset sector, according to information from the crypto community. Bitmain Fined for Failing to Pay Income Tax on Behalf of Employees One of the world’s largest producers of devices
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The writer of this essay is an investor and co-author of the annual “State of AI” report On a cold evening in February I attended a dinner party at the home of an artificial intelligence researcher in London, along with a small group of experts in the field. He lives in a penthouse apartment at
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We’re a curious bunch, us Brits. We boast two of the most revered and envied universities in the world, Oxford and Cambridge, which have educated huge numbers of global leaders, scientists and cultural figures, and produced all sorts of historically significant discoveries, theories and inventions. And yet calling someone “Oxbridge-educated”, in this country, is often seen
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The writer is an FT contributing editor There is a clickbait argument that because the Federal Reserve has raised US interest rates so far and so fast, small banks — which provide almost 70 per cent of commercial real estate lending — are likely to see significant defaults, and when those loans go bad they
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In October 2020, Zambia, struggling from an economic and financial crisis compounded by the Covid-19 pandemic, first missed an interest payment on its international bonds. Two and a half years later it remains in limbo, unable to resolve the default on most of its $31.6bn debts. That an impoverished and vulnerable country has for so
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The G7 countries are discussing more crypto regulation and ways to help developing nations introduce central bank digital currencies (CBDCs). “As a priority of this year, the G7 will consider how best to help developing countries introduce CBDC consistent with appropriate standards, including the G7 public policy principle for retail CBDC,” said Japan’s Vice Minister
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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
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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
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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
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