A senior U.S. Republican lawmaker accused China of a broad campaign to obtain confidential information from the Federal Reserve, including recruiting central bank staffers and detaining a Fed employee visiting Shanghai. The report, from Ohio Sen. Rob Portman, said the Fed’s own investigations had identified several employees with connections to Chinese talent recruiters, as well
The author is EU high representative for foreign affairs and security policy Seven years ago, the five permanent members of the UN Security Council, Germany, Iran and the EU’s high representative for foreign affairs and security policy concluded a landmark diplomatic deal. The Joint Comprehensive Plan of Action was the result of years of intense
Solana-based decentralized finance (DeFi) firm Unstoppable Finance has argued that Solana is more decentralized than people make it out to be. However, there’s another side that believes that the blockchain platform is actually more centralized. In a blog post, the DeFi firm lays out its arguments, citing the blockchain network’s active validator count, Nakamoto coefficient
New homes under construction in Tucson, Arizona. Rebecca Noble | Bloomberg | Getty Images Home prices in May were 19.7% higher compared with the same month last year, according to the S&P CoreLogic Case-Shiller National Home Price Index. This marks the second month of slower increases, as the housing market cools due to higher mortgage
Tribal governments pay 22% to 87% higher borrowing costs on municipal bonds compared to state and local entities, according to a new paper presented at the Brookings Institution Municipal Finance Conference. The resulting increases in annual interest payments for average tribal issuers range from $79,000 to $310,000 greater than their nontribal counterparts, according to the
The IMF has slashed its global growth forecasts and raised its projections for inflation, warning that the risks to the economic outlook are “overwhelmingly tilted to the downside”. The downgraded estimates, released on Tuesday, come as the world grapples with the fallout from Russia’s invasion of Ukraine, prolonged disruptions caused by the pandemic and rapidly
Solana (SOL) dipped to a two-week low at around $35.50 on July 26, mirroring downside moves elsewhere in the crypto market. Nonetheless, the technicals suggest that Solana’s price flirts with the prospects of rising 40% in August. SOL hits key inflection point Ironically, the bullish setup for Solana emerges out of a classic bearish continuation
Rishi Sunak’s attempt to derail Liz Truss’s Tory leadership bid appeared to have failed on Tuesday, as a new opinion poll found that Conservative members believed that she won a crucial head-to-head televised debate. The YouGov survey found Tory activists — who have the final say on who will be Britain’s next prime minister —
The “Open the pod bay doors, Hal” command from the 1968 sci fi classic 2001: A Space Odyssey might be the most famous voice control request in cinematic history. The dystopian response from the artificial intelligence computer HAL 9000, “I’m sorry, Dave. I’m afraid I can’t do that” is just as famous – or, more
What would Amazon’s stock price be if US retail investors were banned from investing? Lower, doubtless. The thought experiment shows that Alibaba’s 2014 listing in New York was doubly impressive. The world’s largest-ever listing depended on foreign investors. This year, mainland China’s legions of retail investors should get the chance to invest. For Chinese tech
European gas prices have surged 20 per cent in two days after Russia deepened supply cuts to the continent in Moscow’s latest attempt to weaponise energy supplies. Futures contracts for delivery next month tied to TTF, the European benchmark wholesale gas price, jumped about 10 per cent on Tuesday to €195 per megawatt hour, the
In this article RTX GE MMM PII GM WMT Check out the companies making headlines before the bell: Walmart (WMT) – Walmart slumped 9.5% in the premarket after cutting its outlook for the current quarter and full year. The retail giant said higher prices for food and fuel are prompting consumers to cut back, and
Coinbase, the U.S.-based cryptocurrency exchange, is reportedly facing a probe from the Securities and Exchange Commission (SEC) over the listing of several crypto assets on its platform. The investigation, according to three people with ostensible knowledge of the matter, is examining whether the exchange has been listing assets that can be classified as unregistered securities.
Alibaba will apply for a dual-primary listing on Hong Kong’s stock exchange, in a move analysts say lays the groundwork to grant mainland Chinese investors access to its shares and help minimise disruption if US regulators force it to delist from Wall Street. The New York-listed Chinese ecommerce group, which has a secondary listing in
Philippines’ think tank Infrawatch PH continues efforts to ban Binance in the country by asking more regulators to investigate the cryptocurrency exchange over alleged illegal operations. Infrawatch PH on Monday filed a twelve-page complaint calling on the Philippines’ Securities and Exchange Commission (SEC) to crack down on Binance’s activities in the Philippines. According to the
Federal Reserve Chair Jerome Powell reacts as he testifies before a Senate Banking, Housing, and Urban Affairs Committee hearing on the “Semiannual Monetary Policy Report to the Congress”, on Capitol Hill in Washington, D.C., U.S., June 22, 2022. Elizabeth Frantz | Reuters The Federal Reserve is widely expected to raise interest rates by another three-quarters
Bitcoin (BTC) fell to $21,000 on July 26 after it emerged that major the United States cryptocurrency exchange Coinbase was under investigation. $21,000 now “super critical” for BTC bulls Data from Cointelegraph Markets Pro and TradingView showed a swift reversion to lower levels for BTC/USD as reports emerged of fresh legal problems for Coinbase over
A new report is predicting that the total value of the NFT market will reach $200 billion in 2030. The report, issued by Grand View Research, a multinational market insights company, found that the rising demand for this kind of instrument — due to its growing number of applications — will fuel growth of the
UBS has warned that further turmoil in markets will prompt clients to retreat after its second-quarter profits fell short of expectations, sending shares in the world’s largest wealth manager down more than 5 per cent. The Swiss group’s private bank bore the brunt of a bruising quarter, with pre-tax profit for the business falling 11
This article is an online version of our Inside Politics newsletter. Sign up here to get the newsletter sent straight to your inbox every weekday. Good morning. The topic of today’s newsletter is political betting. I used to do a lot of political betting before joining the Financial Times, and you can find an awful