Ukraine’s recent drone attacks on Russian-occupied Crimea highlight the importance of neutralising Moscow’s firepower on the peninsula as Kyiv prepares its much anticipated spring counter-offensive. Russia has used its numerous military facilities in the territory — including Sevastopol port, home to its Black Sea fleet, and the Saki air base — to launch missile strikes
Where did all the secretaries and support staff go? They fell victim to automation, you might say. What was left of their jobs was outsourced, you could add. You would be right, of course — but only half right. Because something else happened to their work too. It was redistributed to all of you. More
Bitcoin ATM manufacturer General Bytes says it is reimbursing its cloud-hosted customers that lost funds in a “security incident” in March that saw its customers’ hot wallets accessed. As previously reported by Cointelegraph, the ATM manufacturer issued a statement about a security incident on March 17 and March 18, which involved a hacker remotely uploading
Voyager Digital’s $1 billion sale to Binance.US has been temporarily halted by a federal judge after a request by the United States government for an emergency stay. The request for an emergency stay was granted by Judge Jennifer Rearden of the U.S. District Court in New York on March 27, meaning the potential deal between
Bankrupt crypto lender BlockFi has agreed to refund more than $100,000 to California customers that had continued to repay loans even after a trading halt on Nov. 10 last year. According to a March 27 statement from California’s financial watchdog, the Department of Financial Protection and Innovation (DFPI), its investigation discovered at least 111 borrowers
The tide has turned as housing markets in tech hubs and pandemic migration hot spots are cooling more rapidly than other parts of the country as the tech sector falters and mortgage rates remain elevated, according to a recent survey. The Redfin analysis found that Austin, Texas cooled the fastest over the last year as
Market strategist Jeremy Grantham, co-founder of asset management firm GMO, has warned of “super bubbles” bursting. He explained that the Federal Reserve has “created an environment conducive to a chain-linked series of super bubbles that break with outrageously consequential, painful effects.” Jeremy Grantham’s Warnings Investment strategist Jeremy Grantham shared his U.S. economic outlook with economist
The CEO of investment management firm Vaneck has predicted a bull cycle for gold and bitcoin. “We are at the very beginnings of what could be a several-year cycle in gold, and I also put bitcoin in that category as well,” the executive said, adding that the Federal Reserve is “close to the end of
Shortages of fruit and vegetables helped push UK food inflation to a record high in March, according to the latest industry data, suggesting there was little sign of any let up on households struggling with the cost of living crisis. Annual food inflation reached 15 per cent, up from 14.5 per cent in February and
Shares of Tommy Hilfiger parent PVH surged 9 per cent in after-hours trading after the company provided a strong outlook for 2023. The apparel group, which also owns the Calvin Klein brand, said it expected revenue to grow between 3 per cent and 4 per cent in 2023, and adjusted earnings per share of $10,
China has significantly expanded its bailout lending as its Belt and Road Initiative blows up following a series of debt write-offs, scandal-ridden projects and allegations of corruption. A study published on Tuesday shows China granted $104bn worth of rescue loans to developing countries between 2019 and the end of 2021. The figure for these years
Despite Bitcoin’s difficulty reaching an all-time high at 46.84 trillion, participants in bitcoin mining have kept the hashrate running stronger than ever before. According to statistics, on March 23, 2023, the hashrate reached a high of 400 exahash per second (EH/s). The 400 exahash equates to 0.4 zettahash or four hundred quintillion hashes per second.
England’s largest teaching union has urged its members to reject a new pay offer by ministers, calling it an “insulting offer from a government which simply does not value teachers”. The National Education Union said the Department for Education had put forward a “final offer” of an average 4.5 per cent pay rise in the
Benjamin Netanyahu has dominated Israeli politics for nearly two decades, outmanoeuvring his rivals with a combination of ruthlessness and skill to become the longest-serving premier in the country’s history. But on Monday, the wily politician was forced to reverse course — at least temporarily — on the drive by his far-right government to overhaul the
According to the Federal Deposit Insurance Corporation (FDIC), the troubled bank Silicon Valley Bank (SVB) was acquired by First Citizens Bank & Trust Company, which is based in Raleigh, North Carolina. First Citizens acquired all deposits and loans from SVB, as well as the 17 branches that SVB owned across the United States. Silicon Valley
Municipals were steady to start the week, while U.S. Treasuries sold off and equities ended mixed. The two-year muni-UST ratio was at 60%, the three-year at 61%, the five-year at 62%, the 10-year at 65% and the 30-year at 89%, according to Refinitiv MMD’s 3 p.m. ET read. ICE Data Services had the two-year at
South Carolina’s embattled comptroller announced he will resign next month, after state investigators held him responsible for a multi-billion dollar accounting error. Comptroller General Richard Eckstrom, who’s held the position for the last 20 years and was unopposed in last year’s election, said in a letter of resignation Thursday he wanted to give legislators time
Experts are confounded by Puerto Rico bankruptcy Judge Laura Taylor Swain’s debtor-centric interpretation of the Puerto Rico Oversight, Management, and Economic Stability Act. The Puerto Rico Oversight Board’s latest proposed Puerto Rico Electric Power Authority plan of adjustment would give bondholders a payout as little as 0.21%, and a ruling Swain made last week could
The news and events related to the banking crisis in the United States and Europe have led to a rotation of funds into investments considered less risky. According to the Financial Times, the U.S. money market funds in March witnessed an inflow of $286 billion. Along with money market funds, a portion of the money
Bancroft Capital has hired Dana Villanova as director of municipals, the firm announced on Monday. Villanova, who will be working remotely from Hawaii, will help expand Bancroft’s engagement with issuers, financial advisors and its underwriting partners, with a focus on the West Coast. She will also use her background in bond insurance and green bond verification to
Andrew Bailey, governor of the Bank of England, said on Monday that recent financial turmoil would not stand in the way of the central bank controlling inflation with high interest rates. In a speech at the London School of Economics, Bailey stressed that the UK financial system was “resilient, with robust capital and liquidity positions,