Author: IA PressRoom

© Reuters. Investing.com — U.S. stocks were steadying a day after the Federal Reserve’s latest interest rate move. At 10:20 ET (14:20 GMT), the was up 193 points or 0.4%, while the was up 0.4% and the rose 0.3%. Investors are still reacting to the on Wednesday, when it held rates steady for the first time in more than a year but signaled another one or two rate increases could come this year. Futures traders see a of a quarter of a percentage point increase in rates in July, and the Fed said the terminal rate could rise to 5.6%…

Jack Dorsey. Source: a video screenshot, Youtube/TedCircle’s founder Jack Dorsey has decided to inject some $5 million into Bitcoin non-profit Brink, providing the organization with funds to finance its support for independent BTC developers. In a tweet, Brink thanked the entrepreneur for the funds which, as it explained will be allocated to the non-profit in five installments of $1 million each. Funds for independent BTC developers“Honored to receive a very generous $5,000,000 pledge to our developer funding efforts from @jack and #startsmall. Brink will receive $1,000,000 per year for the next 5 years. Thank you for supporting #bitcoin developers,” according to the tweet. The funds will be…

The numbers: U.S. industrial production fell 0.2% in May after two straight months of gains, the Federal Reserve reported Thursday. The decline was below expectations of a flat reading, according to a survey of economists by The Wall Street Journal. Capacity utilization slipped to 79.6 in May from 79.8 in the prior month. The…

President Biden raised eyebrows on social media this week after appearing to reveal plans to build a railroad from the Pacific Ocean “across” the Indian Ocean.”We have plans to build a railroad from the Pacific all the way across the Indian Ocean,” Biden told the League of Conservation Voters at their annual dinner in Washington, D.C., Wednesday night. “We have plans to build in Angola, one of the largest solar plants in the world. I could go on, but I’m not. I’m going off script. I’m going to get in trouble.”Biden’s comment was quickly met with skepticism on social media…

A secretive Ukrainian unit says its focus includes killing Russian officers, according to CNN. Their goal is to erode Russian morale and bring chaos and mistrust into Russian ranks, it said. It’s not clear how many officers they’ve killed, but many senior Russians have died in the conflict. 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 A group of ex Ukrainian soldiers who formed a secretive fighting group say they are focused on killing Russian officers in order to destroy Russian morale, a new…

The Bank of England on Thursday warned insurance groups that relying on reinsurers to help meet a surge in demand for corporate pension deals risked creating a “systemic vulnerability” for the sector and restraining domestic investment.Rising interest rates have lit a fire under the so-called bulk annuity market, where companies offload their pension liabilities, and the assets backing them, to insurers. The UK’s biggest transaction of this kind was announced in February and analysts expect as much as £60bn of benefits will be transferred to insurers this year, which would mark a new record.Some insurers are making use of what…

2/2 © Reuters. Kenya’s Finance Minister Njuguna Ndung’u carries a briefcase containing the Government Budget for the 2023/24 fiscal year outside the National Treasury building in Nairobi, Kenya June 15, 2023. REUTERS/Thomas Mukoya 2/2 By Duncan Miriri and George Obulutsa NAIROBI (Reuters) – Kenya’s finance minister on Thursday cut the government’s budget deficit for the fiscal year starting next month to 4.4% from an estimated 5.8% in this financial year. In a budget speech that was briefly interrupted by the walk-out of more than a dozen lawmakers from the opposition coalition, Njuguna Ndung’u said the move will help boost debt…

© Reuters. FILE PHOTO: A man counts Venezuelan bolivar notes in downtown Caracas, Venezuela January 9, 2018. REUTERS/Marco Bello/File Photo By Mayela Armas, Corina Pons and Rodrigo Campos CARACAS/MADRID/NEW YORK (Reuters) – Small funds and investors outside the United States are looking to increase their exposure to Venezuelan bonds, on the expectation of debt renegotiations or of legal action tied to a looming expiry of repayment rights, investors and four financial sector sources said. Many of the bonds are trading at pennies on the dollar after a default in 2017, compounded by 2018 sanctions from Washington that barred any American…

© Reuters. Investing.com — Oil prices climbed higher Thursday, bouncing after the previous session’s plunge, helped by substantial demand from Chinese refineries as well as more stimulus from the country’s central bank. By 09:00 ET (13:00 GMT), futures traded 1% higher at $68.92 a barrel, while the contract rose 1% to $73.91 a barrel. Data released earlier Thursday showed that China’s oil refinery throughput in May rose 15.4% from a year earlier, hitting its second highest total on record, indicating healthy demand from the country’s refineries for crude. Helping the tone was the news that China’s lowered its one-year loan…

Source: AdobeThe cryptocurrency industry has been under huge pressure since the price of Bitcoin plunged from its all-time high of $69,000 in late 2021. A string of alleged frauds, financial contagions, and security breaches, along with the collapse of some high-profile trading and lending platforms, has led to the loss of around $2 trillion in value across the digital asset market.More recently, the industry has also been facing regulatory pressure from the US Securities and Exchange Commission (SEC) amid increased calls for regulatory clarity in the sector. Binance and Coinbase, the world’s two largest crypto trading platforms, have been hit with lawsuits by the SEC accusing them of running…