Tag: Economy

A terrible year for cryptocurrencies in 2002 accelerated toward a calamitous bottom on Nov. 8 as the value of the now-bankrupt FTX exchange plummeted. The company was a mechanism people used to buy and sell cryptocurrencies such as bitcoin and ether. But confidence in FTX was destroyed as its customers hurried to withdraw their money…

Just three days into the new year, the crypto space is already tearing itself apart in public.  A conflict that was being played out behind the scenes has just been publicized.  This conflict is one of the consequences of the bankruptcy of the empire of the former crypto emperor Sam Bankman-Fried. It pits three of…

Consumers and investors are wondering how much the cost of living will rise as inflation remains at a 40-year high. But the question that frightens everyone — consumers, markets and government — is whether the economy will enter a recession. The “R” word is the scary word. But for many economists there is no longer…

Sam Bankman-Fried will start 2023 as he ended 2022: in court.  The fallen former king of crypto is at the heart of one of the biggest scandals the young blockchain-powered financial services industry has ever seen. The regulators filed a series of criminal and civil charges against Bankman-Fried, whom they accuse of alleged fraud, on…

© Reuters. FILE PHOTO: International Monetary Fund (IMF) Managing Director Kristalina Georgieva attends a news conference following a meeting at the Federal Chancellery in Berlin, Germany November 29, 2022. REUTERS/Michele Tantussi By Dan Burns (Reuters) -For much of the global economy, 2023 is going to be a tough year as the main engines of global…

The Inflation Reduction Act of 2022 was signed into law by President Joe Biden on Aug. 16, 2022. The previous year it had already passed the House of Representatives. After getting through the House, the bill would need to pass the Senate to get to Biden’s desk for the signature that would make it a…

© Reuters. FILE PHOTO: Taiwanese President Tsai Ing-wen makes a speech at a rank promotion ceremony of military members in Taipei, Taiwan, December 26, 2022. REUTERS/Ann Wang TAIPEI (Reuters) – Taiwan will plough an extra T$380 billion ($12.43 billion) in tax revenue back into the economy in 2023 to help protect the island from global…

Three months after taking control of Twitter, Elon Musk is adopting a less pessimistic tone about the future of the social network, which he defines as the town square of our time. A few weeks ago, the billionaire was worried about the financial health of the platform, which saw an exodus of advertisers, while advertising…

© Reuters. FILE PHOTO: The Bank of Israel building is seen in Jerusalem June 16, 2020. REUTERS/Ronen Zvulun JERUSALEM (Reuters) – Israel’s banking regulator on Sunday approved a conditional licence and control permit to a group of entrepreneurs to establish a new online bank, the second addition to the highly concentrated banking sector in three…

© Reuters. FILE PHOTO: People walk in front of closed shops as traders lock up their stores in protest of Ghana’s worsening economic conditions in Accra, Ghana October 19, 2022. REUTERS/Francis Kokoroko By Cooper Inveen ACCRA (Reuters) – Ghana has further extended the deadline to register for its domestic debt exchange to Jan. 16 in…