Tuesday, June 25, 2024
A report from the International Monetary Fund (IMF) in September 2022, co-authored by BIS Chief Carstens, identifies three shortcomings that preclude cryptocurrencies from serving as a "sound basis for the monetary system," which shows how fiat money has won the battle against cryptocurrencies.
Late in the spring of 2020, Jan Marsalek, an Austrian bank executive, was suspended from his job. He was a widely admired figure in the European business community—charismatic, trilingual, and well travelled. Even at his busiest, as the chief operating officer of Wirecard, Germany’s fastest-growing financial-technology company, he would assure subordinates who sought a minute of his time that he had one, just for them. “For you, always,” he used to say. But he would say that to almost everyone.
This morning Bloomberg reports that Wall Street's largest commercial real estate landlord, private equity giant Blackstone, has defaulted on a €531 million ($562 million) bond backed by a portfolio of offices and stores owned by Sponda Oy, a Finnish landlord it acquired in 2018.
Popular Bollywood actor Arshad Warsi and his wife Maria Goretti, are among 45 individuals and companies banned by the Securities and Exchange Board of India (SEBI) from participating in the securities market, officials said on Thursday. The decision comes after an investigation into allegations of share price manipulation by certain entities of two companies, Sharpline Broadcast Ltd and Sadhna Broadcast Ltd, through uploading misleading videos on YouTube channels.
The cyclone that tore through New Zealand last week has exposed the dangers of a cashless society, prompting the central bank to consider new ways of ensuring access to physical money when power and telecommunications fail.
According to a copy of the indictment that was provided to the Financial Times, Swiss bankers were charged with hiding Putin’s millions without questioning the origin of the funds.
A new wealth report by consultancy firm "Henley & Partners" found more than a third of US centi-millionaires graduated from eight universities.
Here we go again. Every few years in Congress there is a purely political battle over the debt ceiling. We're supposed to be horrified and worried that the US might default on some of its debt. Some commentators will insist the US has never defaulted, and that default be a disaster. (That's wrong, by the way. The US has defaulted before.)
According to Australia's Reserve Bank, the country is removing the British monarchy from its bank notes, and the $5  note will have a fresh design in place of the late queen's image.
According to central bank chief Riad Salameh, Lebanon will adopt a new official exchange rate of 15,000 pounds per US dollar on February 1, which will devalue the currency by 90%.