Author: Leslie Stewart

Please bear with us a little when it comes to cryptocurrencies this holiday season.To hear many industry leaders tell it, they are victims, a persecuted class of well-intentioned innovators who are locked out of the U.S. banking system because they pose a disruptive threat to the status quo.Of course, this man’s challenge has fueled cryptocurrencies since its early days, when the industry had the feel of a Rebel Alliance challenging the Empire.But these days, with a cryptocurrency market worth $3.6 trillion, Bitcoin’s acceptance by Wall Street, and coincidentally the incoming president of the United States, the industry’s persecution complex is…

Construction worker in Mumbai, India, June 5, 2024. Bloomberg | Bloomberg | Getty ImagesIndia’s economy grew just 5.4% in the second fiscal quarter to September, well below economists’ expectations and close to a two-year low.The print market followed a 6.7% quarter-over-quarter growth, the lowest since the final quarter of 2022. Economists polled by Reuters had forecast growth of 6.5% for the same period, while the Reserve Bank of India had expected growth of 7%.The country’s statistics agency said growth in the manufacturing and mining sectors was slow.The country’s 10-year government bond yield fell rapidly from about 6.8% to 6.74% after…

The stalls at number 590 Dresden Striezelmarkt are brightly lit as soon as they open.Sebastian Kernert Picture Alliance | Getty ImagesThe euro zone’s annual inflation rate rose to 2.3% in November, once again exceeding the European Central Bank’s 2% target, statistics agency Eurostat said on Friday.Economists polled by Reuters had expected the annual growth rate to be 2.3%, up from 2% in October.As expected, the inflation rate in the region has risen for the second consecutive month after falling to 1.7% in September as the effects of deflation caused by energy prices have faded.Core inflation, which excludes volatile energy, food,…

Can artificial intelligence be transformative enough to solve one of the U.S. economy’s biggest problems: the soaring budget deficit? According to three economists at the Brookings Institution, the answer is yes. AI could pose a positive “significant shock” to a country’s fiscal health. A research report released last month by the Brookings Center on Regulation and Markets found that under the most optimistic scenario, AI could reduce the annual U.S. budget deficit by up to 1.5% of gross domestic product, or about 900 billion yen in nominal terms, by 2044. We predict that there is a possibility of a reduction…

Officials from Alabama A&M University confirmed the passing of football player Medrick Barnett Jr. in a statement issued on Wednesday, although this announcement was later taken down from the school’s website. Nevertheless, Barnett Jr.’s family informed NBC News affiliate WFAF that he is still currently hospitalized.The 20-year-old athlete sustained a head injury during a game four weeks earlier, according to the university’s officials.”When the appropriate moment arrives, we will provide a statement regarding our experience,” stated Barnett Jr.’s mother, Denise Barnett, in an interview with the station.As of Wednesday afternoon, Alabama A&M’s administration had not responded to inquiries following the…

According to a report from the Commerce Department released on Wednesday, inflation experienced a minor uptick in October as the Federal Reserve seeks guidance on interest rate adjustments.The personal consumption expenditures price index, which the Fed uses as a comprehensive measure of inflation, rose by 0.2% compared to the previous month, resulting in a 12-month inflation rate of 2.3%. These figures align with expert predictions, although the annual rate represents an increase from September’s rate of 2.1%.When excluding food and energy prices, the core inflation rate revealed an even more substantial increase of 0.3% month-over-month and an annual rate of…

On Tuesday, Prime Minister Ulf Kristersson firmly rejected concerns surrounding Sweden’s request for a Chinese vessel to enter its waters for the purpose of investigating recent underwater fiber optic cable incidents in the Baltic Sea. He was clear in stating that this was not the situation at hand.Two distinct undersea cables suffered damage in quick succession on November 17 and 18, one linking Finland and Germany and the other connecting Sweden and Lithuania, which led German Defense Minister Boris Pistorius to raise the possibility of sabotage.Criminal inquiries were subsequently launched by Sweden, Germany, and Lithuania, focusing on the Chinese bulk…

Officials from the Federal Reserve indicated that inflation is beginning to cool, the job market remains robust, and there may be possibilities for interest rate reductions in the future, although any decreases would be gradual. This information was disclosed in the minutes from the meeting held in November, which were released on Tuesday.The summary of the meeting showcased that the officials expressed satisfaction regarding the current inflation rate, despite it being higher than the Federal Reserve’s target of 2%.Considering these factors, along with the belief in a stable employment environment, members of the Federal Open Market Committee (FOMC) suggested that…

On November 26, Binance, the largest cryptocurrency exchange worldwide, revealed that it plans to list five tokens: Gift (GFT), Iris Net (IRIS), SelfKey (KEY), OAX (OAX), and Ren (REN) by December. Following this, they will be delisted, prompting a major market reaction with the value of these tokens dropping by approximately 40%. This news triggered a sell-off, resulting in the prices of the specified tokens tanking to mere cents on November 26th, amidst a backdrop of declining trading volumes in recent months. Data from coin market cap indicates a notable decrease: For REN, trading volume decreased from $34 million in…

President-elect Donald Trump addresses a gathering at the U.S.-Mexico border near Sierra Vista, Arizona, on August 22, 2024.Rebecca Noble | Getty Images News | Getty Images