News

The meme coin craze continues to thrive unabated despite a stagnant rally in Bitcoin (BTC). According to data from CoinMarketCap, a record 138 meme coins were recorded in April, surpassing the previous count of only 18 in April 2023. It is estimated that the true number could be even higher, as the site only…

In a major development, it has been revealed that five retired Boeing 747 passenger jets previously operated by South Korean flag carrier Korean Air will soon be transformed into the newest addition to the United States’ strategic command and control military aircraft, popularly known as “Doomsday” planes. The jets were acquired by the Sierra…

Following the selection of a London-based consulting firm by the Department of Justice (DOJ) for a three-year monitoring role with Binance, Sullivan & Cromwell, previously slated for the position, may still be appointed by the U.S. Treasury Department’s Financial Crimes Enforcement Network (FinCEN) for a separate five-year monitoring task. The decision to choose Forensic…

A recent incident involving a car bomb in a small Somalian town and subsequent troop mortar fire has drawn attention to the increasing number of piracy attacks emanating from Somalia. Six suspected pirates were recently apprehended by a European naval force after they fired upon an oil tanker travelling through the Gulf of Aden,…

The REPO Act, which was recently passed by the US government, allows the administration to seize Russian state assets located in the US and use them to benefit Ukraine. This move could result in an additional $5 billion in assistance for Ukraine, drawing from the frozen Russian Central Bank holdings that are currently held…

European cocoa supplier Natra is currently engaged in negotiations with various lenders, such as private credit funds, in relation to potentially financing the acquisition of two companies – German chocolate business Gubor Schokoladen and Italian hazelnut-spread producer Nutkao. Buyout firm CapVest, which owns Natra, is considering requesting debt proposals worth up to €700 million…

Fireblocks, a cryptocurrency safekeeping specialist, is planning to establish a limited-purpose trust company under the supervision of the New York State Department of Financial Services (DFS). This move comes after proposals from the US Securities and Exchange Commission (SEC) last year that would narrow down the types of institutions that registered investment advisors (RIAs)…

The latest University of Michigan consumer sentiment survey, released on Friday, revealed a significant decrease in overall sentiment during the month of May. The preliminary reading for the month stood at 67.4, representing a 13% drop and marking its lowest level in six months. This fall in sentiment can be attributed to rising inflation…

Working parents, guardians, and caretakers face the challenge of striking a delicate balance between work and care responsibilities. To cater to the needs of such individuals, many companies provide benefits such as paid parental leave, quality healthcare coverage, and equal pay covering childcare costs. With no federal oversight of workplace benefits like paid leave…

According to Bank of England Chief Economist Huw Pill, there is a risk of being “seduced” by certain measures of inflation that suggest a slowdown before more persistent price pressures are addressed. Speaking at a web presentation to the BOE’s regional agents, Pill cautioned that officials should not draw too much comfort from external…