Explore/Finance

Finance

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    El Pais

    Who will cut interest rates first: The Fed or the ECB?

    informed Summary

    1. A shift in the economic cycle is expected in 2024, leading central banks to embark on a program of interest rate cuts. The European Central Bank may cut rates in April, ahead of the Federal Reserve's expected cut in June.
    Finance
    3 min read
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    BBC

    Could AI 'trading bots' transform the world of investing?

    informed Summary

    1. AI investing is gaining popularity, with one in three investors willing to let a trading bot make all their decisions, according to a U.S. survey. However, experts warn that AI isn't a crystal ball and cannot predict unforeseen events that impact the stock market, such as 9/11 and the coronavirus pandemic.
    Finance
    4 min read
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    Politico

    Christine Lagarde makes a poor central banker, ECB staff say

    informed Summary

    1. In a survey of European Central Bank staff, around half of the participants rated President Christine Lagarde's performance as "very poor" or "poor". This contrasts with the positive ratings received by her predecessors, Mario Draghi and Jean-Claude Trichet.
    Finance
    4 min read
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    BBC

    The hacks that can help to keep your home warmer

    informed Summary

    1. Energy poverty is a growing issue, with nearly 5,000 excess deaths in the U.K. last winter attributed to cold homes, a rise of nearly 50% on the previous winter. In the U.S., 27% of households reported energy insecurity, equating to around 34 million homes.
    Finance
    7 min read
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    El Pais

    The dilemmas of monetary policy

    informed Summary

    1. Central bankers are struggling to understand and predict inflation, with some doubting the effectiveness of existing macroeconomic models. These often rely on unobservable variables such as the output gap and inflation expectations.
    Finance
    4 min read
  6. DW

    Why are Germans hoarding billions of useless deutsche marks?

    informed Summary

    1. More than two decades after the introduction of the euro, millions of old deutsche mark coins and bills are still in circulation in Germany, with an estimated 12.24 billion marks worth around €6.26 billion ($6.92 billion) unaccounted for at the end of 2023.
    Finance
    3 min read
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    CNBC

    How the two biggest crypto billionaire CEOs proved the critics right

    informed Summary

    1. Binance's Changpeng Zhao and FTX's Sam Bankman-Fried, two of the biggest names in the crypto industry, have been found guilty of crimes related to their multibillion-dollar crypto empires.
    Finance
    9 min read
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    Euronews

    Why is it so hard to prevent terrorist financing?

    informed Summary

    1. Philippe Vollot, the Chief Financial Economic Crime Officer at Rabobank, highlights the importance of fighting financial crime because it funds activities such as gang crime, drug and human trafficking, terrorism and modern slavery. He explains to Euronews that banks screen every transaction made by accounts held with them to identify suspicious activities.
    Finance
    3 min read
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    CNBC

    U.S. pension funds heavily invested in China complicate Washington's crackdown, new analysis finds

    informed Summary

    1. Most U.S. public pensions, universities and non-profit organizations have committed funds to China and Hong Kong, including in sensitive technologies, according to a report by Future Union. The 74 largest contributors have allocated more than $70 billion to companies in these regions via more than 1,100 investments.
    Finance
    5 min read
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    CNBC

    Coinbase CEO says crypto industry can turn the page after historic Binance settlement

    informed Summary

    1. Coinbase CEO Brian Armstrong believes that the crypto industry can move past its history of scandals following Binance's $4 billion settlement with the U.S. Department of Justice. Binance's founder and CEO, Changpeng Zhao, stepped down and pleaded guilty to money-laundering violations.
    Finance
    2 min read
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    Vice

    Crypto crashed and everyone's in jail. Investors think it's coming back anyway

    informed Summary

    1. Despite a series of scandals and fraud charges against major figures in the cryptocurrency industry, some investors remain hopeful about the future of crypto.
    Finance
    3 min read
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    Euronews

    How a cyberattack crippled the world's largest bank for hours

    informed Summary

    1. The U.S. unit of the Industrial & Commercial Bank of China - the world's largest bank by assets - was hit by a ransomware attack that disrupted trades in the Treasury market. The bank had to resort to unconventional methods, such as transmitting essential data through a messenger carrying a UBS stick.
    Finance
    2 min read
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    AP News

    Bitcoin prices have doubled this year and potentially new ways to invest may drive prices higher

    informed Summary

    1. Bitcoin's value has soared to nearly $35,000, its highest point in 18 months, and more than double its price at the start of 2023. This surge is attributed to cooling inflation and the collapse of tech-focused banks, which led investors to turn to crypto.
    Finance
    3 min read
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    BBC

    The dark side of touch-screen tipping

    informed Summary

    1. The rise of digital payments and touch screen point-of-sale systems has changed the culture of tipping, with many customers feeling pressured to leave higher gratuities.
    Finance
    6 min read
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    The Verge

    Sam Bankman-Fried was a bad friend, too

    informed Summary

    1. Testifying at the trial of former FTX CEO Sam Bankman-Fried, Nishad Singh -- an ex-colleague and long-time friend -- said he felt "betrayed" when he discovered that a company associated with FTX had been using FTX customer funds. Singh claimed the company owed FTX billions of dollars.
    Finance
    7 min read
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    TIME

    The 3 key battle lines in Sam Bankman-Fried's trial

    informed Summary

    1. The criminal trial of FTX founder Sam Bankman-Fried began on Oct. 4, with prosecutors accusing him of misusing customer funds and his defense arguing that he believed his actions were legal and reasonable.
    Finance
    3 min read
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    Project Syndicate

    How finance became the problem

    informed Summary

    1. Finance has evolved from being a means to an end to becoming the driving force behind most decision-making, including by governments. This shift is referred to as financialization.
    Finance
    4 min read
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    Verge

    Is Sam Bankman-Fried’s defense even trying to win?

    informed Summary

    1. Sam Bankman-Fried, the CEO of crypto exchange FTX, is facing prosecution for allegedly lying and stealing, with the prosecutor accusing him of selling stock in FTX and borrowed millions from lenders by lying.
    Finance
    5 min read
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    Politico

    If the bond markets aren’t scaring you yet, they should be

    informed Summary

    1. Long-term interest rates have risen nearly a full percentage point in the U.S. in less than three months, increasing borrowing costs for governments, companies, and households worldwide. The yield on the 10-year U.S. Treasury rose to a new 16-year high after strong U.S. labor market data.
    Finance
    2 min read
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    BBC

    'Skimpflation': An even sneakier form of shrinkflation

    informed Summary

    1. The practice of businesses reducing the quality and availability of their services while maintaining the same prices is known as "skimpflation". This is often done subtly and can go unnoticed by consumers.
    Finance
    3 min read