Former FTX CEO Sam Bankman-Fried, who is currently facing fraud charges over the collapse of the bankrupt cryptocurrency exchange, was compared to a scene from the movie “Dumb and Dumber” by prosecutors in the ongoing criminal trial. Prosecutors criticized several of the jury instructions provided by the defense team, specifically highlighting a directive that drew…
China Significantly Boosts Yuan Internationalization at Belt and Road Initiative Forum In an effort to reduce its reliance on the US dollar and globalize its currency, China has signed a series of yuan-denominated loans at the Belt and Road Initiative (BRI) forum on Wednesday. This move marks a significant shift away from the greenback in…
Schlumberger, American Express, Merck, and Solar stocks are among the companies making headlines in midday trading. Schlumberger’s stock dropped 2% after reporting third-quarter revenue that missed Wall Street expectations. Although the company reported earnings per share of 78 cents, beating the analyst forecast by 1 cent, its revenue of $8.31 billion fell short of the…
Billionaire investor Leon Cooperman has expressed his belief that stocks are currently overpriced and doesn’t anticipate the S&P 500 reaching a new high for a significant period of time. In an interview with Insider, Cooperman shared his pessimistic outlook, stating, “I made my money being a bull, but I find myself somewhat pessimistic at the…
Signage displaying the name of Comerica Bank branch in Torrance, California, on March 13, 2023, adds to the gloomy outlook for regional banks. Regions Financial, a lender based in Birmingham, Alabama, reported a 6.5% decline in net interest income (NII) compared to the previous quarter. The bank anticipates a further drop of 5% in NII…
Title: PPF Withdrawal: A Step-by-Step Guide and Eligibility Criteria Published By: Business Desk Last Updated: September 21, 2023, 07:00 IST Image Source: News18 The Public Provident Fund (PPF) is a government-backed financial scheme that offers individuals the opportunity to build wealth through savings while enjoying various tax benefits. Primarily designed for retirement planning, emergencies, and…
Article: India’s Finance Minister, Nirmala Sitharaman, emphasized the need for businesses to consider the impact of global terrorism when making investment decisions. Speaking at the Kautilya Economic Conclave 2023, Sitharaman stated that terrorism affects the whole world, sparing no region. She highlighted that this level of risk and uncertainty in decision-making will have a permanent…
New Delhi – Reserve Bank Governor Shaktikanta Das announced on Friday that the Rs 2,000 denomination notes are making a comeback, with only Rs 10,000 crore worth of such notes still in circulation. Das expressed confidence that these remaining notes will also be returned or deposited back into the banking system. “Rs 2,000 notes are…
Former FTX CEO Sam Bankman-Fried, who is currently facing fraud charges in connection with the collapse of a bankrupt cryptocurrency exchange, has been revealed to have donated $50 million to undisclosed politically active groups during the 2022 election cycle. Newly released documents show that Bankman-Fried, his cryptocurrency exchange FTX, and two of his former colleagues…
Millions of snow crabs have vanished from the waters of Alaska, potentially due to warmer ocean temperatures causing them to starve, as reported by CNN. This discovery comes after the Alaska Department of Fish and Game canceled the snow crab harvest season for the second consecutive year due to the overwhelming shortage of crabs in…
