Bitzlato is a little-known crypto exchange that was just shut down by the Justice Department. FBI agents arrested Anatoly Legkodymov, the founder of crypto exchange Bitzlato, on Tuesday. US authorities alleged that the site laundered millions tied to illicit Russian finances. Loading Something is loading. Thanks for signing up! Access your favorite topics in a… Continue reading The Justice Department just shut down little-known crypto exchange Bitzlato and arrested its Russian founder in what authorities claim is a huge blow to crypto crime
Crypto lender Genesis is reportedly preparing to file for bankruptcy as soon as this week
Cryptocurrency lender Genesis Global Capital may file for bankruptcy protection as soon as this week, Bloomberg reported Wednesday. Genesis was still talking to creditors and its plans may change, the report said. The parent company of Genesis, Digital Currency Group, has also been dealing with a liquidity crunch. Loading Something is loading. Thanks for signing… Continue reading Crypto lender Genesis is reportedly preparing to file for bankruptcy as soon as this week
The global rally in stocks that’s kicked off 2023 may prove to be ‘head fake’ as it’s too soon to assume inflation is receding, says UBS
The stock-market rally at the start of 2023 faces risks from still-elevated inflation, UBS Global Wealth Management said. Central bankers are monitoring core prices, which rose in the euro area and the US in December. Key stock gauges in the US, Europe, and China have risen, including a 10% jump in the Euro Stoxx 50. … Continue reading The global rally in stocks that’s kicked off 2023 may prove to be ‘head fake’ as it’s too soon to assume inflation is receding, says UBS
Larry Summers is warming up to the idea that the Federal Reserve can stick a soft landing after previously warning a hard recession is imminent
Larry Summers is growing more optimistic about the US economy as inflation starts to ease.The former Treasury secretary told Bloomberg that the economy could ultimately avoid a recession despite the Fed’s fast rate hikes. Summers had previously said that a recession was imminent because job losses would be necessary to tame inflation. Loading Something is loading.… Continue reading Larry Summers is warming up to the idea that the Federal Reserve can stick a soft landing after previously warning a hard recession is imminent
‘Double whammy’ has Canadians more concerned about debt than ever, survey finds
MNP’s consumer debt index plunges to all-time low Almost half of Canadians surveyed said they regret the amount of debt they’ve taken on in life. Photo by Reuters/Mark Blinch Nearly half of Canadians are concerned about their current level of debt — a record high — amid rising interest rates, persistent inflation and heightened affordability… Continue reading ‘Double whammy’ has Canadians more concerned about debt than ever, survey finds
James Bay lithium mine wins federal approval amid Trudeau’s push to make Canada an EV player
Quebec mine must adhere to 271 conditions, including measures to protect the environment Ore falls from a conveyor onto a stockpile at a lithium mine site in Australia. Photo by Carla Gottgens/Bloomberg The federal government approved the construction of a lithium mine in northern Quebec, moving Brisbane, Australia-based Allkem Ltd.‘s project closer to the finish… Continue reading James Bay lithium mine wins federal approval amid Trudeau’s push to make Canada an EV player
Why Sophie Brochu’s Hydro-Quebec exit may be more about philosophy than politics
Popular chief-executive’s abrupt departure is perhaps not as surprising as energy sector watchers think Outgoing Hydro-Québec chief-executive Sophie Brochu. Photo by Hydro-Quebec People often make plans, map out strategies and scribble down wish lists about all the things they wish they could do, and would do, if they could just find the time to go… Continue reading Why Sophie Brochu’s Hydro-Quebec exit may be more about philosophy than politics
Stock Market Today: Goldman, Travelers Drag Dow Lower
Stocks took different directions to start the short week. (Monday was a stock market holiday to celebrate Martin Luther King Jr. Day.) While the tech-heavy Nasdaq kept its win streak alive, disappointing earnings from financial giant Goldman Sachs (GS (opens in new tab)) pressured the blue-chip Dow Jones Industrial Average. This morning, Goldman Sachs said… Continue reading Stock Market Today: Goldman, Travelers Drag Dow Lower
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