The U.S. Securities and Exchange Commission (SEC) on June 6 sued one of the largest cryptocurrency platforms in the world, sending the company’s stock down. Coinbase, the platform, has been operating its crypto platform without registration, violating federal law, according to the lawsuit. “Coinbase has never registered with the SEC as a broker, national securities…
US Agency Sues Cryptocurrency Exchange Coinbase
The U.S. Securities and Exchange Commission (SEC) on June 6 sued one of the largest cryptocurrency platforms in the world, sending the company’s stock down. Coinbase, the platform, has been operating its crypto platform without registration, violating federal law, according to the lawsuit. “Coinbase has never registered with the SEC as a broker, national securities…
Microsoft to Pay $20 Million Fine for Violating Children’s Privacy
Tech giant Microsoft has agreed to pay a multi-million dollar settlement to the U.S. Federal Trade Commission (FTC) for illegally collecting children’s personal information without parental consent. The $20 million settlement came after the FTC charged Microsoft for violating the Children’s Online Privacy Protection Act (COPPA). According to COPPA rules, websites and online services open…
UK Government ‘Too Slow’ to Recover Fraud Losses Following COVID-19 Pandemic: Report
MPs have said the government needs to learn how to better manage crises like the COVID-19 pandemic in order to tackle fraud and error, which cost taxpayers billions of pounds. The Committee of Public Accounts (CPA) has issued a report looking into the challenges and opportunities across Whitehall during the period that Britain opened up…
Wall Street Opens Lower as Mixed Data Fuels Fed Policy Uncertainty
Wall Street’s main indexes opened slightly lower on Tuesday as investors assessed chances of the Federal Reserve holding interest rates at its meeting next week, with mixed data adding to uncertainty around the policy outlook. The Dow Jones Industrial Average fell 15.19 points, or 0.05 percent, at the open to 33,547.67. The S&P 500 opened…
US Ignorant of Investment Fund Portfolio in China: Expert
June 6, 2023
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Business & MarketsChinaChina NewsInvestmentThreat from Communist ChinaUS Investments in ChinaUS-China relations
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The United States is unaware of the scope of its investment fund in China that is funding possibly harmful Chinese military and civilian technologies, according to Derek Scissors, a senior fellow at the American Enterprise Institute. According to Scissors’s report titled “What to Do About American Investment in China,” almost $800 billion in U.S. investments poured…
Aussie Jumps on RBA Hike, US Dollar Steady
LONDON—The Australian dollar jumped to its highest since mid-May on Tuesday after the Reserve Bank of Australia (RBA) raised interest rates, in a decision that many analysts had said would be a close call between a hike and a pause. The U.S. dollar was steady, below last week’s 2–1/2-month highs versus major peers, after unexpectedly…
Oil Falls as Economic Fears Overshadow Saudi Output Cut
June 6, 2023
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Business & Marketseconomic policieseconomyenergyglobalGold and CommoditiesinflationMarketsOilrecessionstocks
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LONDON—Oil prices tumbled more than $1 a barrel on Tuesday, after a strong rally in the previous session as worries about the global economic growth outweighed Saudi Arabia’s pledge to deepen output cuts. Brent crude futures were down $1.33, or 1.73 percent, to $75.38 a barrel by 0923 GMT. U.S. West Texas Intermediate crude fell…
World Stocks Tread Water as Traders Eye Fed Pause Prospects
June 6, 2023
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Business & MarketsCompaniescryptocurrencyeconomic policieseconomyenergyglobalGold and CommoditiesinflationMarketsrecessionstocks
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LONDON—European stocks started Tuesday mixed, as soft U.S. economic data reinforced expectations the Federal Reserve may skip an interest rate hike when it meets next week. The pan-European STOXX 600 index was up 0.1 percent to 460.40 at 0830 GMT. In the previous session, the index dropped as data pointing to tepid U.S. business activity…
Drier Conditions to Drive Down Agricultural Production
Australian agriculture’s record-breaking run is set to dry up, with winter crop production to plunge more than a third while overall production is also forecast to fall. The latest quarterly outlook has been released by ABARES, the agency responsible for agricultural science and economic research. It predicts agricultural production will drop by 14 percent to $79…
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