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"Financial inclusion," defined as individuals and businesses having access to useful and affordable financial products, has declined in the U.S., according to new industry research. The U.S. fell to fourth place, from second, this year in the second annual Global Financial Inclusion Index compiled by the Centre for Economics and Business Research in London and Des Moines, Iowa-based Principal Financial Group. Singapore's small size, with a population of just six million people, helps it in the ranking, but it is also boosted by its commitment to financial literacy, financial technology adoption and employer support. Consumer sentiment in the U.S. is down across financial systems and employers but is especially pronounced when it comes to the government. "It creates uncertainty and causes people to delay decisions that they might otherwise make about purchase around savings, and you don't want to paralyze people's decision-making around financial security," Dan Houston, Principal Financial Group Chair and CEO, told CNBC in an exclusive interview.

Persons: people's, Dan Houston Organizations: Centre for Economics, Business Research, Financial Group, Finance, Consumer, Supreme, CNBC Locations: U.S, London, Des Moines , Iowa, Singapore, Hong Kong, Switzerland, Sweden

☆ Take Five: An inflationary dilemma
▼ + stars: | 2023-09-22 | by ( ) www.reuters.com time to read: +5 min

The week ahead brings more evidence of how much progress is left for developed-economy policymakers, while in the emerging world, India is set to enter the bond-market big time and a raft of central banks wrestle with a dilemma. The personal consumption expenditures (PCE) price index rose 3.3% in the 12 months through July. Line chart with data from LSEG Datastream show the U.S.'s inflation on personal consumption expenditures (PCE), core PCE inflation and the federal funds target rate from 2019 to 2023. Reuters Graphics5\ASIA'S CURRENCY CONUNDRUMAsian central banks have a dilemma: how to handle weakening economic growth and peaking inflation, while arresting the slide in currencies to maintain stability in their financial systems. But much may rest on decisions of other central banks further afield, namely the Federal Reserve.

Persons: Lewis Krauskopf, Naomi Rovnick, Karin Strohecker, Amanda Cooper, Perry Warjiyo, Toby Chopra Organizations: Federal, Fed, European Central Bank, ECB, Reuters, CLUB India, JPMorgan, Russell, Bank of, Bank, Thailand, Reserve, Thomson Locations: India, Vidya Ranganathan, Singapore, New York, London, Washington, U.S, Saudi Arabia, Russia, Bank of Indonesia, Philippine

☆ A tale of two central banks as Uruguay rises and Argentina slides
▼ + stars: | 2023-09-18 | by ( Lucinda Elliott | ) www.reuters.com time to read: +4 min

Diego Labat, Central Bank Governor of Uruguay, poses for a picture during an interview with Reuters, in Montevideo, Uruguay September 8, 2023. REUTERS/Lucinda Elliott/File Photo Acquire Licensing RightsMONTEVIDEO, Sept 18 (Reuters) - Diego Labat, Uruguay's central bank chief, is sitting pretty. "A problem in Argentina back then was a problem in Uruguay," Labat said. Argentina's net central bank reserves are also estimated to be in the red, hurting its ability to make payments as it battles to keep a $44 billion International Monetary Fund (IMF) program alive. Total non-resident deposits have fallen to 8%, from a peak of 41.5% in 2001, central bank data show.

Persons: Diego Labat, Lucinda Elliott, Labat, Uruguay's, That's, Adam Jourdan, David Holmes Organizations: Central Bank Governor, Reuters, REUTERS, Rights, European Union, Monetary Fund, Reuters Graphics, JPMorgan, Thomson Locations: Uruguay, Montevideo, Rights MONTEVIDEO, Uruguay's, de La Plata, Buenos Aires, Argentina, China, Brazil, Chile, America

With the world far off track on its 2015 pledge to curb global warming, a new United Nations report central to upcoming climate negotiations details how quickly and deeply energy and financial systems must change to get back on a safer path. “The window of opportunity to secure a livable and sustainable for future for all is rapidly closing,” Friday's report warned. To get there, the report said, “the phase-out of unabated fossil fuels is required,” using a phrase international climate negotiators have shied away from before. “Halting and reversing deforestation” and adopting better crop-growing practices are critical to fighting climate change, the report said. Limiting warming to 1.5 degrees is another window of opportunity that is rapidly closing, the report said.

Persons: ”, Sultan Al Jaber, David Waskow, “, Antonio Guterres, there's, Bill Hare, —, Al Jaber, Tom Evans, ” Evans, Seth Borenstein Organizations: United, World Resources Institute, United Nations, World Meteorological Organization, Twitter, AP Locations: United Nations, India, Paris, Dubai

☆ UN chief says global finance system fragmenting; Myanmar crisis worsens
▼ + stars: | 2023-09-07 | by ( ) www.reuters.com time to read: +3 min

[1/4] UN Secretary General Antonio Guterres speaks during his bilateral meeting with Indonesian President Joko Widodo on the sidelines of the Association of Southeast Asian Nations (ASEAN) Summit in Jakarta, Indonesia, Thursday, Sept. 7, 2023. In a wide-ranging speech that touched on geopolitical tension, multilateral development finance and climate change, Guterres called on world leaders to find peaceful and inclusive solutions to the challenges facing the world. He also voiced support for re-channelling an additional $100 billion of International Monetary Fund's Special Drawing Rights through multilateral development banks to increase liquidity and support developing economies' needs. At a Paris summit in June this year, world leaders backed a push for multilateral development banks like the World Bank to put more capital at risk to boost lending. ASEAN leaders are set to hold talks with the United Nations later on Thursday.

Persons: General Antonio Guterres, Joko Widodo, Tatan, António Guterres, Rich, Ajay Banga, Guterres, Stanley Widianto, Kanupriya Kapoor, Robert Birsel Organizations: UN, Association of Southeast Asian Nations, ASEAN, REUTERS Acquire, Rights, Monetary, Bank, World Bank, United Nations, Thomson Locations: Jakarta, Indonesia, Rights JAKARTA, China, United States, Paris, Myanmar, ASEAN

☆ The BRICS summit ended with no new currency and all 5 members issuing differing and contradictory commentary on de-dollarization
▼ + stars: | 2023-08-28 | by ( Huileng Tan | ) www.businessinsider.com time to read: +6 min

De-dollarization was a closely watched topic amid the BRICS summit last week. He said at a previous international meeting in July that it was important to establish an "independent financial system" based on local currency trade. But these international arrangements, trading arrangements, payment arrangements, these have been in place for a long time." AdvertisementAdvertisementInstead, South Africa appears to veer toward increasing the bloc's trade in local currencies. The economist who coined the term BRICS slammed the idea altogetherJim O'Neill, a former Goldman Sachs economist who first gave the BRICS bloc its name, has slapped down the idea of a common BRICS currency.

Persons: dollarization, SWIFT, Luiz Inacio Lula da Silva, Putin, Vladimir Putin, I'm, Hardeep Singh Puri, Puri, Xi, Xi Jinping, Enoch Godongwana, Paul Mashatile, Jim O'Neill, Goldman Sachs, O'Neill Organizations: Service, United, United Arab Emirates, Times, CNBC, Bloomberg, Financial Times Locations: Wall, Silicon, South Africa, Brazil, Russia, India, China, Saudi Arabia, Iran, Ethiopia, Egypt, Argentina, United Arab, New Delhi, Johannesburg, South

He calls for a return of the Russian Empire, and has repeatedly denied the existence of a Ukrainian identity. Mr. Malofeyev has been cut off from most Western financial systems since 2014, when the Treasury Department and other international regulators accused him of financing Russian proxy forces inside Ukraine. Mr. Malofeyev, though, has continued to use his charity, the St. Basil the Great Foundation, to raise money for orphanages in the Russian-occupied Donbas and Zaporizhzhia regions. In an interview, Mr. Malofeyev said he did not know whether those orphanages hosted Ukrainian children who had been forcibly relocated, but said the resettlement effort had been unfairly demonized.

Persons: Konstantin Malofeyev, Malofeyev, Basil the Organizations: Hague, Treasury Department, Basil the Great Foundation Locations: Russian, Russia, Ukraine

☆ What China’s Economic Woes May Mean for the U.S.
▼ + stars: | 2023-08-26 | by ( Lydia Depillis | More About Lydia Depillis | ) www.nytimes.com time to read: +1 min

The news about China’s economy over the past few weeks has been daunting, to put it mildly. The country’s growth has fallen from its usual brisk 8 percent annual pace to more like 3 percent. And China’s citizens, frustrated by lengthy coronavirus lockdowns and losing confidence in the government, haven’t been able to consume their way out of the country’s pandemic-era malaise. If the world’s second-largest economy is stumbling so badly, what does that mean for the biggest? That could change, however, if China’s current shakiness deepens into a collapse that drags down an already slowing global economy.

Persons: haven’t, Wells Locations: United States, China, U.S

Delegates walk past the logos of the BRICS summit during the 2023 BRICS Summit at the Sandton Convention Centre in Johannesburg, South Africa on August 23, 2023. WHY DOES LULA WANT A BRICS CURRENCY? A BRICS currency "increases our payment options and reduces our vulnerabilities," he told the summit's opening plenary session. In July, India's foreign minister said, "there is no idea of a BRICS currency". WHAT ARE THE CHALLENGES OF SETTING UP A BRICS CURRENCY?

Persons: GIANLUIGI, Luiz Inacio Lula da Silva, LULA, doesn't, Vladimir Putin, Xi Jinping, Lesetja Kganyago, you've, Kganyago, Herbert Poenisch, Putin, Rachel Savage, Ethan Wang, Marcela Ayres, Gabriel Stargardter, Naomi Rovnick, Libby George, Marc Jones, John Stonestreet Organizations: REUTERS Acquire, Rights, Mercosur, South, Zhejiang University, Federal Reserve, FX, International Monetary Fund, Bank of International, Thomson Locations: Sandton, Johannesburg, South Africa, Rights JOHANNESBURG, Brazil, Russia, India, China, Russian, videolink, African, Ukraine, Beijing, Brasilia, Rio de Janeiro, London

☆ Cryptoassets increase risk in developing economies, study says
▼ + stars: | 2023-08-22 | by ( ) www.reuters.com time to read: +3 min

The report's guidelines for regulating and supervising cryptoasset markets include bans, containment and regulation. "Given the offshore and pseudo-anonymous nature of cryptoasset markets, an outright ban might not prove enforceable," read the BIS paper. "On the contrary, policymakers would lose all sight of these markets, making these markets even less transparent and predictable. In addition, all potential innovation gains from cryptoasset markets would be lost." Keeping control on the flows between traditional financial systems and cryptomarket assets, or containment, hits similar hurdles as a ban as "controlling funds might not be feasible in practice."

Persons: Dado Ruvic, Rodrigo Campos, Nick Zieminski Organizations: REUTERS, Bank for International, BIS, European Union, Thomson

☆ 14 promises Donald Trump has made in his campaign for a second term
▼ + stars: | 2023-07-08 | by ( ) edition.cnn.com time to read: +13 min

CNN —Former President Donald Trump has hit the 2024 campaign trail and is giving voters a preview of what a second Trump presidency could look like if he’s elected. Drug cartels“The drug cartels are waging war on America—and it’s now time for America to wage war on the cartels,” former President Donald Trump said in a January campaign video. Trump also said in the campaign video that he would cut funding for schools that teach critical race theory and gender ideology. The former president added in a campaign video that he would stop lobbyists and government contractors from pushing senior military officials towards war. We will reverse almost all of them,” Trump said in a campaign video.

Persons: Donald Trump, Trump, He’s, –, it’s, ”, ” Trump, “, Joe Biden, … ” Trump, Equity “, Biden Organizations: CNN, America, Department of Defense, Education, of Justice, Department of Education, Conference, Marxist, Trump, Democrats, National Guard, Department of Justice, Cities, FBI, CIA, Trump Reciprocal Trade, Congress, Soros District, Rifle Association, Legislative Action, Equity, Pharmaceuticals Trump Locations: Ukraine, America, Washington, Russia, New Hampshire, New, China, United States

☆ An Amazon manager who stole almost $10 million with fake invoices and used the money to buy a house, a Tesla, and a Lamborghini was jailed for 16 years
▼ + stars: | 2023-07-08 | by ( Ryan Hogg | ) www.businessinsider.com time to read: +4 min

An Amazon manager was sentenced to 16 years in jail for running a fraud worth close to $10 million. Kayricka Wortham created fake vendors and invoices, with funds sent to bank accounts she controlled. She spent the proceeds on a $1 million Georgia home, as well as Tesla and Lamborghini cars. Kayricka Wortham, worked as an operations manager at an Amazon warehouse in Smyrna, Georgia between August 2020 and March 2022. She used her position to create fake vendors, passing them on to unknowing subordinates to process, per the US Attorney's Office for the Northern District of Georgia.

Persons: Kayricka Wortham, Wortham, Brittany Hudson, Hudson, Lamborghini, Lamborghini Wortham, Nick Lotito, Steven R, Ryan K, Buchanan Organizations: Georgia, Lamborghini, Service, Amazon, US, Office, Northern, Northern District of, Tesla, CRUS, Company, The New York Times, Wortham, Chief, Judge, Hudson Locations: Wall, Silicon, Smyrna , Georgia, Northern District, Northern District of Georgia, Smyrna, Dodge Durango, Atlanta, Wortham

☆ The next revolution in monetary policy is underway
▼ + stars: | 2023-06-30 | by ( Felix Martin | ) www.reuters.com time to read: +7 min

LONDON, June 30 (Reuters Breakingviews) - Monetary policy, Milton Friedman said, acts on the economy with long and variable lags. Monetary policy regimes evolve in response to the changing nature of prevailing economic challenges – though this also takes time. The next revolution in monetary policy may be brewing. One question Gopinath did not address is how the financial system came to dominate monetary policy. When contractions hit, however, central banks eased monetary policy and governments loosened their purse strings, just as before.

Persons: Milton Friedman, Gita Gopinath, Gopinath, ’, “, Peter Thal Larsen, Pranav Kiran, Oliver Taslic Organizations: Reuters, International Monetary Fund, Bank for International, IMF, Central, SVB, Signature Bank, Credit Suisse, Fed Funds, BIS, Thomson Locations: Portuguese, Sintra, Korean, United States, Europe, Central, England, London, U.S, China, Ukraine, “

☆ France's Macron says leaders finalised accord on $100 bln in climate finance
▼ + stars: | 2023-06-23 | by ( ) www.reuters.com time to read: +2 min

Emmanuel Dunand/Pool via REUTERSPARIS, June 23 (Reuters) - Wealthy nations finalised an overdue $100-billion climate finance pledge to developing countries on Friday and created a fund for biodiversity and the protection of forests, France's president said. The $100 billion falls far short of poor nations' actual needs, but has become symbolic of wealthy countries' failure to deliver promised climate funds. This has fuelled mistrust in climate negotiations between countries attempting to boost CO2-cutting measures. Of the $100 billion in SDRs to be rechannelled, Washington has yet to pass legislation to release its share, worth more than one fifth of the total. U.S. Treasury Secretary Janet Yellen said that it was a priority for the Biden administration to get approval in Congress.

Persons: Emmanuel Macron, Emmanuel Dunand, Macron, Janet Yellen, Biden, Leigh Thomas, John Irish, Toby Chopra Organizations: Alliance, Entrepreneurship, New Global Financial, Palais, REUTERS, World Bank, United Nations, Bank, International Monetary Fund, U.S, Treasury, Thomson Locations: Paris, France, REUTERS PARIS, Africa, Washington

☆ HIGHLIGHTS-What world leaders said at the Paris finance summit
▼ + stars: | 2023-06-22 | by ( ) www.reuters.com time to read: +2 min

PARIS, June 22 (Reuters) - Following are highlights of what world leaders said at a summit in Paris on Thursday to boost crisis financing for poor countries, reform post-war financial systems and free up funds to tackle climate change. ON REFORM"Even with the capital that the World Bank and the MDBs (multinational development banks) have, there is clearly potential ...to increase financing capacity," said U.S. Treasury Secretary Janet Yellen, whose country is the World Bank's biggest shareholder. U.S. Treasury Secretary Janet Yellen delivers her speech at the U.S embassy to France, ahead of the Global Climate Finance conference, in Paris, France June 22, 2023 World leaders, heads of international organizations and activists are gathering in Paris for a two-day summit aimed at seeking better responses to tackle poverty and climate change issues by reshaping the global financial system. ON FAILURE OF INTERNATIONAL FINANCIAL ARCHITECTURE"It is clear that the international financial architecture has failed in its mission to provide a global safety net for developing countries," said U.N. Secretary General Antonio Guterres. Reporting by Leigh Thomas, John Irish, Elizabeth Pineau, Silvia Aloisi; Editing by Christina FincherOur Standards: The Thomson Reuters Trust Principles.

Persons: Janet Yellen, Yellen, Lewis Joly, Emmanuel Macron, General Antonio Guterres, Leigh Thomas, John Irish, Elizabeth Pineau, Silvia Aloisi, Christina Fincher Organizations: World Bank, Treasury, U.S . Treasury, U.S, Global Climate Finance, Bank, Thomson Locations: Paris, U.S, France

Leaders are set to back a push for multilateral development banks like the World Bank to put more capital at risk to boost lending, according to a draft summit statement seen by Reuters. Citing the war in Ukraine, climate crisis, a fledgling pandemic recovery, widening disparity and declining progress, Banga said it was time the World Bank adopted a new vision. The summit aims to create multifaceted roadmaps that can be used over the next 18-24 months, ranging from debt relief to climate finance. Wealthy nations have yet to come good on climate finance that they promised as part of a past pledge to mobilize $100 billion a year, a key stumbling block at global climate talks. Though binding decisions are not expected, officials involved in the summit's planning said some strong commitments should be made about financing poor countries.

Persons: Ajay Banga, Banga, Mia Mottley, John Irish, Philippa Fletcher Organizations: Glasgow, Summit, New Global Financial, World Bank, United Nations, Bank, Reuters, Barbados, Bridgetown Initiative, Bretton, International Monetary Fund, International Maritime Organization, Thomson Locations: Paris, France, PARIS, Africa, Ukraine, Banga, Bridgetown, French

☆ Billie Eilish, Lenny Kravitz perform at concert tied to Paris summit
▼ + stars: | 2023-06-22 | by ( Yiming Woo | ) www.reuters.com time to read: +2 min

[1/4] Billie Eilish and Finneas O'Connell perform during the "Power Our Planet: Live in Paris" concert at the Champ de Mars on the sidelines of the Summit for a "New Global Financial Pact" in Paris, France, June 22, 2023. REUTERS/Stephanie LecocqPARIS, June 22 (Reuters) - Singers including Billie Eilish and Lenny Kravitz, politicians and activists took to the stage in Paris on Thursday at a concert calling for action on climate change and inequality as world leaders met at the Summit for a New Global Financing Pact. During his set, Kravitz told the crowd: "I want us all to be part of the solution, not the problem". The concert took place amid the gathering of some 40 leaders seeking to give impetus to a new global finance agenda. Reporting by Yiming Woo; Additional reporting by Marie-Louise Gumuchian; Editing by Cynthia OstermanOur Standards: The Thomson Reuters Trust Principles.

Persons: Billie Eilish, Finneas O'Connell, de Mars, Stephanie Lecocq PARIS, Lenny Kravitz, Michelle Yeoh, Eilish, de, Kravitz, Jon Batiste, H.E.R, Diane Kruger, Connie Britton, Yiming Woo, Marie, Louise Gumuchian, Cynthia Osterman Organizations: Summit, Global, REUTERS, Pact, Global Citizen, World Bank, Paris, International Monetary Fund, Thomson Locations: Paris, France, Brazil, Kenya, Barbados

☆ Why Hong Kong can’t cut loose from the US dollar just yet
▼ + stars: | 2023-06-13 | by ( Laura He | ) edition.cnn.com time to read: +11 min

Hong Kong CNN —Hong Kong’s currency is facing its biggest test since the global financial crisis of 2008. The steep fall is a sign that investors are ditching the Hong Kong dollar. The Hong Kong Monetary Authority (HKMA) is committed to keeping the Hong Kong dollar between 7.75 and 7.85 per greenback. People walk past the Hong Kong Monetary Authority (HKMA) on May 4, 2023, in Hong Kong, China. “Pegging the Hong Kong dollar to the US dollar encourages such transactions to be carried out in Hong Kong and under Hong Kong law, even if neither party is based in Hong Kong.”This helps to create jobs and prosperity in Hong Kong, while also benefiting mainland China.

Persons: Hong, hasn’t, Andy Xie, ” Logan Wright, Bill Ackman’s, Ackman, Wright, Peter Parks, Kong, Deng Xiaoping, Margaret Thatcher, outflows, Chi Lo, Chen Yongnuo, Hong Kong’s, ”, Richard Cookson ,, Boaz Weinstein, Daniel Fung, Rhodium’s Wright, Xie, Eddie Yue, Banks, John Greenwood, “, Greenwood, ” Greenwood Organizations: Hong Kong CNN, British, Hong, Traders, Hong Kong, Bill Ackman’s Pershing, Capital Management, Getty, Lehman Brothers, Hong Kong Monetary Authority, US Federal Reserve, Asia Pacific, BNP, Asset Management, Fed, China News Service, Rubicon Fund Management, Bloomberg, Saba Capital Management, National Security Law, CNN Locations: Hong Kong, United States, China, Hong, Beijing, AFP, Britain, “, ”, Riding

☆ Fintechs need to focus on the future to develop tomorrow's solutions today
▼ + stars: | 2023-06-12 | by ( Sponsor Post | Created Unlimit With Insider Studios | ) www.businessinsider.com time to read: +6 min

The future is DeFiDecentralized finance (DeFi) has gained significant traction in recent years, offering a new paradigm for financial services that are open, transparent, and community-driven. DeFi adoption will significantly enhance the concept of "embedded finance," and we will see more integration of financial services with traditionally non-financial services or products. Foresee market structure trends and shape them proactivelyWhile fintech's growth in developed markets is undeniable, even more significant potential for growth lies in developing economies. This will empower customers to make payments swiftly and conveniently, ultimately driving higher adoption and usage of fintech solutions. With the fintech industry projected to reach $492.81 billion by 2028, the time to start looking into tomorrow is now.

Persons: Irene Skrynova, Statista Organizations: Intelligence, Central Bank, Allied Market Research, Finance, World Bank, Insider Studios Locations: China, India, Eastern Europe, Africa

☆ Nasdaq's CEO outlined 3 ways firms can put up a better fight against financial crime
▼ + stars: | 2023-06-07 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +4 min

Nasdaq CEO and Chair Adena Friedman spoke about how regulators can help banks fight financial crime. A Wall Street executive has a three-point plan for regulators to consider to help banks tackle financial crime. The exchange operator is "challenging the regulators" to think of different ways to help firms in that fight, she added. Friedman, whose company acquired an anti-financial crime management tool a little over two years ago, said it starts with data sharing between financial firms. "Criminals don't just bank in one bank," she said, adding that pooling of information can help firms suss out patterns of bad behavior across different systems.

Persons: Adena Friedman, Friedman, we've Organizations: Nasdaq, Bloomberg Invest, Morning, Wall Locations: New York, Europe

☆ CNBC Daily Open: Congratulations on getting through May
▼ + stars: | 2023-06-01 | by ( Yeo Boon Ping | ) www.cnbc.com time to read: +1 min

This report is from today's CNBC Daily Open, our new, international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. The old Wall Street adage to sell in May and go away held true this year — aside from AI-related stocks, that is. Cryptocurrency might want to divorce itself from traditional financial systems, but it can't escape the gravitational pull of Wall Street. Subscribe here to get this report sent directly to your inbox each morning before markets open.

Persons: Dow, Walt, Cryptocurrency, Bitcoin Organizations: CNBC, Dow Jones, Nasdaq, Dow, Nike, Walt Disney, Chevron, Nvidia, The

☆ CNBC Daily Open: We made it through May — and maybe the debt ceiling too
▼ + stars: | 2023-06-01 | by ( Yeo Boon Ping | ) www.cnbc.com time to read: +2 min

This report is from today's CNBC Daily Open, our new, international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. For the month, the S&P inched up 0.3%, the Dow sank 3.5% and the Nasdaq jumped 5.8%. Stock futures mostly ticked down Wednesday night even after the House passed the bill to suspend the debt limit. Subscribe here to get this report sent directly to your inbox each morning before markets open.

Persons: Kevin McCarthy, Dow, Walt, Cryptocurrency, Bitcoin Organizations: U.S, Capitol, Washington , DC, CNBC, Dow Jones, Nasdaq, Dow, Nike, Walt Disney, Chevron, Nvidia, The Locations: Washington ,

☆ The reason the stock market has stayed relatively stable amid economic chaos: computer-driven trading
▼ + stars: | 2023-05-29 | by ( Alexandra York | ) www.businessinsider.com time to read: +4 min

Amid a chaotic few months in the US economy, the stock market has remained relatively stable. Quant funds, which use computer models to trade, are helping calm the markets, The Wall Street Journal reported. Yet still, the stock market has remained somewhat calm. That stability is at least in part thanks to quant funds, according to The Wall Street Journal. Quant funds, or quantitative hedge funds, are investment funds that use computer-created algorithms, mathematical models, and artificial intelligence to make stock predictions.

☆ NATO says Moscow may sabotage undersea cables as part of war on Ukraine
▼ + stars: | 2023-05-03 | by ( Sabine Siebold | ) www.reuters.com time to read: +3 min

BRUSSELS, May 3 (Reuters) - Russia may sabotage undersea cables to punish Western nations for supporting Ukraine, NATO's intelligence chief warned on Wednesday, as the alliance boosts efforts to protect undersea infrastructure following the Nord Stream attacks. "There are heightened concerns that Russia may target undersea cables and other critical infrastructure in an effort to disrupt Western life, to gain leverage against those nations that are providing security to Ukraine," David Cattler told reporters. As concerns grow over the security of undersea cables, Western countries are setting out to turn the North Sea into a green power engine, planning a spate of new wind parks that will be linked to the mainland by cables. Other undersea cables transport some 95% of internet traffic around the world at speeds of about 200 terabytes per second, with 200 of these 400 cables deemed critical, according to NATO. NATO significantly increased the number of ships patrolling the North and Baltic seas after the Nord Stream blasts, and established a Critical Undersea Infrastructure Protection Cell to improve cooperation with industry, capitals and experts.

☆ Buy the bitcoin pullback as crypto will have more time to shine later this year, Bernstein says
▼ + stars: | 2023-05-01 | by ( Tanaya Macheel | ) www.cnbc.com time to read: +1 min

"Bitcoin and the crypto financial system were made exactly for times like today," he said in a note Monday, highlighting the "breakdown of traditional financial systems" and "first principle questions on the fractional reserve business model of banks." "As the narrative towards a weaker dollar picks up, we believe bitcoin will emerge again as a faster horse than gold," Chhugani said. "Further, we believe it will also unleash a new crypto cycle, bringing about a new wave of innovation in crypto-based decentralized financial systems. Furthermore, the regulatory argument against crypto in the U.S. is weakening, according to the analyst, as Europe and Hong Kong take more progressive approaches. BTC.CM= YTD mountain Bitcoin (BTC) this year Bitcoin fell about 4% Monday, according to Coin Metrics, after closing out its fourth positive month in a row with a 3% gain.

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