The United States Department of the Treasury is facing a second legal challenge after its decision in August to ban Tornado Cash, a cryptocurrency mixing service that masks the origins of coin transactions. The complaint that was filed in the U.S. District Court for the Northern District of Florida on Wednesday, October 13, asserts that
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Tesla (NASDAQ: TSLA) is looking to push production of the Model Y and Model 3 electric vehicles (EVs) much higher in Q4 2022 and continue the production ramp-up into 2023. Earlier reports on leaked emails from the company showed the need for higher production numbers, which were partially fulfilled in China, where the firm delivered
close video Fed’s inflation soft landing ‘no longer looking like a possibility’: Michael Lee Michael Lee Strategy’s Michael Lee argues a Federal Reserve pause on rate hikes would push stocks higher. Social Security benefits are set to rise by 8.7% in 2023, the biggest bump in four decades as stubbornly high inflation erodes the buying
At a moment when the global COVID-19 pandemic is finally loosening its grip on the public consciousness as an object of existential dread, a new fear has swept in to supplant it: nuclear annihilation. Russias invasion of Ukraine in February has stoked U.S. nuclear fears like no other event since the close of the Cold
3 police officers killed in Connecticut Police identified the 3 officers who were shot, 2 fatally, in Bristol late Wednesday evening. CONNECTICUT – 3 police officers were shot in Bristol, Connecticut late on Wednesday. Two of them died, according to police officials. A 911 call for a domestic dispute came in just before 10:30 p.m.
close video September CPI ‘clearly indicates’ inflation will be around much longer, analyst warns RSM U.S. chief economist Joe Brusuelas and Ameriprise Financial private wealth advisor Nancy Daoud react to wild market swings after a hotter-than-expected September CPI report on ‘The Claman Countdown.’ Spending at retail stores fell flat in September as consumers continue to
Mounting fears that Russian President Vladimir Putin could resort to a nuclear weapon to stem his losses in Ukraine have prompted debate about what are the real red lines for Moscow and Washington. Putin has made only general threats to use nukes if Russia is attacked, though its unclear what that means given Moscows
5 NYPD officers injured stopping kidnapping suspect Five NYPD officers were injured stopping an alleged kidnapping that began on Long Island and ended in Brooklyn. NEW YORK – Five NYPD officers were injured stopping an alleged kidnapping that began on Long Island and ended in New York City. Police say Holmark Garces, 33, forced a
The United States Department of the Treasury is facing a second legal challenge after its decision in August to ban Tornado Cash, a cryptocurrency mixing service that masks the origins of coin transactions. The complaint that was filed in the U.S. District Court for the Northern District of Florida on Wednesday, October 13, asserts that
Ambush suspected in killing of 2 Connecticut police officers Two police officers were killed and another was injured after being lured into what authorities believe was an ambush in Bristol on Wednesday evening. BRISTOL, CT – 3 police officers were shot in Bristol, Connecticut late on Wednesday in what authorities believe was an ambush. Two
Sterling and UK government bonds jumped on Thursday as Liz Truss’s government came under mounting pressure from Tory MPs and the IMF to reverse or alter the unfunded tax cut plans that have shaken markets. The gains came a day after the Bank of England soothed market jitters with £4.4bn of bond purchases as part
A sell-off in UK government bonds accelerated on Wednesday, sending long-term borrowing costs higher after the Bank of England reiterated its plans to halt its emergency gilt-buying scheme as scheduled on Friday. The central bank said on Wednesday morning that it “has made clear from the outset, its temporary and targeted purchases of gilts will
The Bank of England has widened its emergency bond-buying programme to include inflation-linked gilts in its latest attempt to stem “fire sales” by pension funds that have created a “material risk to UK financial stability”. The move, which marks the first time the BoE has purchased index-linked debt, helped steady gilt markets on a day
Chancellor Kwasi Kwarteng is to rush forward his new debt-cutting plan — and accompanying official forecasts — to October 31, as part of a broad effort to reassure markets the UK has a grip on public finances. The move comes as the Bank of England also seeks to steady UK financial markets, by unveiling measures
US Treasury secretary Janet Yellen said the move by Opec+ to cut oil production was “unhelpful and unwise” for the global economy, particularly emerging markets already struggling with high energy prices. The Biden administration has been loudly critical of the decision by the oil cartel backed by Saudi Arabia and Russia this week, which took
An explosion tore through Russia’s bridge across the Kerch Strait to Crimea early on Saturday, severely damaging it in a major blow to Vladimir Putin more than seven months into his invasion of Ukraine. Russia’s anti-terrorist committee said a truck exploded on the bridge’s roadside in the early hours of Saturday morning and caused seven
UK regulators on Friday began a new round of licences to enable companies to explore for oil and gas in the North Sea, as climate campaigners signalled they would aim to mount a legal challenge. The North Sea Transition Authority is expected to award more than 100 permits to companies by the end of June,
The Bank of England has defended last week’s intervention in the UK government debt market, saying it stepped in to prevent a £50bn fire sale of gilts that would have taken Britain to the brink of a financial crisis. The central bank said on Thursday that had it not launched its emergency bond-buying scheme in
Prime minister Liz Truss has told the party faithful that she will lead Britain through “stormy days” during the economic “tempest” caused by the Covid-19 crisis and Russia’s invasion of Ukraine. The prime minister, in power for a month, sought to rally Conservative MPs behind her faltering leadership, at a party conference that has descended
Liz Truss is braced for a fresh rebellion over her economic plans with senior Conservative MPs threatening to vote against the UK prime minister if she decides to cut benefits in real terms next spring. Truss is looking at raising benefits in line with average earnings growth rather than inflation, a controversial move that has