Author: IA PressRoom

Source: Hao Zhou/AdobeThe Chinese city of Quingdao will pilot an electricity- and network-free digital yuan public transport payments solution, marking another national first for the central bank digital currency (CBDC).The news comes as another city in the pilot zone announced it will give away some $140,000 of CBDC discount tokens.Per the Securities Times Network (via Stockstar), Qingdao city authorities said the pilot would launch at Zhangcun Station and Keyuanjing 7th Road, two stations on Qingdao’s Metro Line 4.The project has been organized by the Digital Currency Research Institute of the central People’s Bank of China (PBoC), as well as the…

Ennis declares $0.25 dividend

Democrats supporting President Biden are more openly attacking presidential challenger Robert F. Kennedy, Jr. as the president struggles to unite the blue party behind him.Several Biden-backing operatives have opened fire on Kennedy amid online drama between him, podcast host Joe Rogan, Twitter owner Elon Musk, and Baylor College of Medicine tropical medicine dean Dr. Peter Hotez.Kennedy appeared on Rogan’s podcast last week, prompting a response from Hotez that ignited an online firestorm between the foursome of prominent Americans and a challenge for Hotez to debate Kennedy on vaccines.JOE ROGAN, ELON MUSK CHALLENGE SCIENTIST TO DEBATE ROBERT KENNEDY JR. ON VACCINES,…

Bank of China has halted CNY transactions between Russian clients and banks in the US, EU, UK, and Switzerland, per RBC. The bank made the move over fears of secondary sanctions from the West, per RBC. Russia has been using the Chinese yuan to get around Western sanctions. Loading Something is loading. Thanks for signing up! Access your favorite topics in a personalized feed while you’re on the go. download the app Russia has been using China’s yuan to get around sanctions — but at least one major Chinese bank has halted transfers from Russia over fears of secondary sanctions…

Abu Dhabi’s sovereign wealth fund ADQ held detailed talks to take Wall Street investment bank Lazard private, in a move that underlined the oil-rich emirate’s ambitions to acquire a western financial services company.The talks were held this year between Lazard, led by outgoing chief executive Ken Jacobs, and ADQ, led by Sheikh Tahnoon bin Zayed al-Nahyan, the fund’s chair and Abu Dhabi’s powerful national security adviser, said people with direct knowledge of the matter.Negotiations fell apart after both sides walked away from a deal. Lazard, which is best known for its advisory business in Paris, New York and London, had been…

© Reuters. FILE PHOTO: French President Emmanuel Macron greets the audience during the conference on European air and missile defence, attended by EU defence ministers, on the sidelines of the International Paris Air Show, at the Hotel des Invalides in Paris, France By Leigh Thomas and Simon Jessop PARIS (Reuters) – French President Emmanuel Macron hosts a summit on Thursday and Friday to pin down a roadmap for easing the debt burdens of low-income countries while freeing up more funds for climate financing. The summit brings dozens of leaders together in the French capital to forge a top-level consensus on…

© Reuters. FILE PHOTO: The logo of U.S. conglomerate General Electric is pictured at the site of the company’s energy branch in Belfort, France, February 5, 2019. REUTERS/Vincent Kessler/File Photo (Reuters) – General Electric (NYSE:) has stopped servicing gas turbines at thermal power plants in Russia, the Russian business daily Kommersant reported on Tuesday, citing sources in power generating companies. General Electric suspended its operations in Russia after Moscow invaded Ukraine, with the exception of providing essential medical equipment and supporting existing power services in the region. Kommersant reported that General Electric “without explanation” stopped servicing gas turbines at Russian…

© Reuters. Investing.com — Most Asian currencies fell on Tuesday as markets awaited more cues on U.S. monetary policy, with the Chinese yuan trading near seven-month lows after the People’s Bank cut its benchmark lending rates. The dollar steadied in Asian trade after a U.S. market holiday on Monday, with the trading flat while added 0.3%. Focus this week is largely on a before Congress on Wednesday.  Yuan slips on loan prime rate cue, bleak economic outlook The fell 0.2% to 7.1744 to the dollar, trading just shy of its lowest level since late-November. The People’s Bank of China (PBOC)…

China’s benchmark lending rates were lowered Tuesday as expected, in a bid to support the nation’s slowing economic recovery. This was the first cut in the benchmark loan rates since August 2022, as Beijing moved to roll out more measures to buoy growth. Both short- and long-term benchmark lending rates were lowered by 10 basis points, as expected by the market. The one-year loan prime rate was cut to 3.55% and the five-year rate was cut to 4.2%, the People’s Bank of China said. Last week, China’s central bank lowered two key policy rates–the one-year medium-term lending facility rate and…

President Biden attended a fundraiser Monday hosted by a tech billionaire recently discovered to have traveled to convicted pedophile Jeffrey Epstein’s private island in 2014.LinkedIn co-founder Reid Hoffman hosted Monday’s fundraiser on behalf of Biden’s re-election campaign and in support of the Biden Victory Fund at the private residence of Shannon Hunt-Scott and Kevin Scott in Los Gatos, California.According to a May report from The Wall Street Journal, Hoffman visited the Caribbean island called Little St. James, part of the U.S. Virgin Islands, on at least one occasion. The island is where Epstein and fellow convicted sex offender Ghislaine Maxwell allegedly…