Phool dev Shahni, like his father and grandfather before him, once earned his livelihood by diving into 8-foot-deep muddy ponds to harvest makhana, or lotus seeds. “I used to dive in 7 to 8 feet of water for hours a… Read More ›
Strategy
FTX Ordered To Repay $12.7 Billion To Customers Amid Bankruptcy Settlement
A U.S. court has mandated that bankrupt cryptocurrency exchange FTX pay $12.7 billion in relief to its customers, the Commodity Futures Trading Commission (CFTC) announced on Thursday. The ruling follows accusations that FTX lured customers with a false sense of… Read More ›
Study Reveals Alarming Growth In AI-Generated Child Sexual Abuse Content On Dark Web
A recent study has uncovered a disturbing trend: a significant rise in the creation of AI-generated child sexual abuse material on the dark web. Research conducted by Anglia Ruskin University indicates a clear and growing demand for such content among… Read More ›
Biggest Weekly Selloff Since March 2023 For European Banks
An index of European banks headed for its biggest weekly fall in 17 months on Friday, thanks to soft earnings earlier in the week and a global equity sell-off gathering pace. The STOXX index has fallen 5.8% this week, as… Read More ›
Why July’s Employment Report Of US Isn’t All Doom and Gloom
The U.S. employment report for July sparked significant reactions in the financial markets, leading to what many called “Freakout Friday.” The data showed a rise in the unemployment rate to a post-pandemic high and the slowest private-sector hiring in 16… Read More ›
BoE Faces Dilemma on Rate Cut Despite Inflation Meeting Target
Inflation in the U.K. has aligned with the Bank of England’s (BoE) 2% target in recent readings, yet the central bank may hesitate to reduce interest rates this week. On Wednesday morning, market pricing indicated a 60% probability of a… Read More ›
Oil Rebounds On Mideast Tensions But China Data Caps Gains
Oil futures rebounded more than $1 a barrel from seven-week lows on Wednesday following the assassination of Hamas leader Ismail Haniyeh in Iran, escalating tensions in the Middle East. Despite this uptick, prices continue to be weighed down by concerns… Read More ›
Euro Zone Inflation Surges Unexpectedly to 2.6%, Impacting ECB Rate Cut Outlook
Inflation in the euro zone unexpectedly rose to 2.6% in July, according to data released by the European Union’s statistics agency on Wednesday. This increase contrasts with the 2.5% inflation recorded in June and defied economists’ expectations, who had forecast… Read More ›
UAE Poised To Attract More Millionaires As Wealthy Individuals Leave The UK
The United Arab Emirates is on track to be the world’s top wealth magnet for the third year running, according to the Henley Private Wealth Migration Report. At the same time, the U.K. – already the source of many of… Read More ›
Nomura Triples Q1 Profit With Wealth Management Revenues Getting Boosted Due To End
Nomura Holdings, Japan’s largest brokerage and investment bank, reported a remarkable 195% increase in first-quarter profit on Tuesday, driven by a global market rally and the resurgence of domestic inflation, which boosted demand for its wealth management services. The impressive… Read More ›
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