Pavel Durov, the billionaire founder and CEO of the popular messaging app Telegram, was recently arrested at the Bourget airport outside Paris. This shocking development has sparked widespread speculation and concern about the future of the app and its founder. Durov, a Russian-born entrepreneur, is known for his bold and uncompromising stance on issues related
Economy
Brazil’s central bank chief, Roberto Campos Neto, has expressed concerns about recent market volatility, suggesting that it may indicate a reduced space for fiscal and monetary intervention in the future. He emphasized the importance of considering both fiscal and monetary policies together, as addressing one without the other could prove challenging in the long run.
Prime Minister Keir Starmer is set to address the British public next week with a stark warning that the road to fixing the country’s issues will not be easy. In his upcoming speech, Starmer acknowledges that “things will get worse before we get better,” emphasizing the need for patience and perseverance in tackling the deep-rooted
Federal Reserve holdings of mortgage bonds have been a central component in how monetary policy affects the economy’s momentum. This key role was highlighted in a recent paper presented at a central bank research conference. The paper examined how the Fed’s actions of increasing or decreasing its holdings of Treasury and mortgage bonds, in conjunction
The recent rally in U.S. stocks can be attributed to the dovish remarks made by U.S. Federal Reserve Chair Jerome Powell. Powell’s comments before the Jackson Hole Economic Symposium indicated a strong possibility of a rate cut in September. He emphasized the need to lower the Fed funds target rate, citing diminished upside risks of
The recent rail stoppage in Canada, caused by a labor dispute between the Teamsters union and the country’s two major freight rail operators, Canadian National Railway and Canadian Pacific Kansas City, has the potential to have a significant impact on the nation’s economy. Economists and analysts have warned that if the stoppage continues for an
The dollar has weakened significantly against the euro, reaching its lowest point this year. This slide in value is connected to the anticipation surrounding potential revisions to U.S. payrolls data. Traders are closely monitoring this information as they prepare for a crucial speech from Federal Reserve Chair Jerome Powell later in the week. The dollar
In a tragic turn of events, a luxury yacht named the “Bayesian” carrying 22 individuals, including British tech entrepreneur Mike Lynch and his daughter, was struck by a violent storm and sank off the coast of Sicily. The incident resulted in the death of one individual on board and left six people, including Lynch and
After a week of strong performances in global equities, Asian stocks appeared to be taking a breather on Monday. This followed expectations that the U.S. economy would avoid a recession and that cooling inflation would lead to a cycle of interest rate cuts. Federal Reserve members Mary Daly and Austan Goolsbee were vocal over the
The recent economic data coming out of China suggests that the world’s second-largest economy is facing significant challenges. A combination of factors such as falling new home prices, slowing industrial output, decreasing export and investment growth, and rising unemployment have all contributed to a worrisome picture. While some data points beat forecasts, they did so