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☆ An accounting firm hired to vet Truth Social's financials quit after less than a year because it no longer wanted to be linked to Trump: FT
▼ + stars: | 2024-04-16 | by ( Kwan Wei Kevin Tan | ) www.businessinsider.com time to read: +3 min

Read previewThe accounting firm that was first hired to audit former President Donald Trump's social media company quit just months after it was appointed, the Financial Times reported on Monday. WithumSmith+Brown was appointed to vet Trump Media & Technology Group's financials soon after it was founded in early 2021. In January 2022, Trump Media instead turned to a smaller accounting firm to conduct the audit, BF Borgers, which has less than stellar record with regulators. The company's shares initially skyrocketed when it went public in March, only for prices to plunge just a week later. That isn't great for Trump, whose net worth is tied to his holdings in Trump Media.

Persons: —, Donald Trump's, WithumSmith, Brown, Trump Media & Technology Group's financials, Trump, Borgers, BF Borgers, Forbes, Jean Carroll, Stormy Daniels Organizations: Service, Financial Times, Trump Media & Technology, Business, Trump Media, Public Company, BF Borgers, Bloomberg, American Institute of Certified Public Accountants, Trump, Trump Media's, Prosecutors, WithumSmith, Trump Media & Technology Group, Business Insider Locations: freefall, Manhattan

☆ Yen crumbles under towering dollar and U.S. Treasury yields
▼ + stars: | 2024-04-12 | by ( ) www.cnbc.com time to read: +4 min

In this photo illustration, the man is holding several U.S. dollar bills with some Chinese yuan in the background. The yen struggled to break away from a 34-year low on Friday and was headed for a weekly decline, while the dollar hovered near a five-month high alongside U.S. Treasury yields as traders heavily scaled back bets for a slew of U.S. rate cuts this year. The yen was last marginally higher at 153.17 per dollar, languishing near a 34-year trough of 153.32 per dollar hit in the previous session on the back of a surge in U.S. Treasury yields, which the dollar/yen pair tends to closely track. The benchmark 10-year yield was last at 4.5784%, flirting with a five-month peak of 4.5930% hit in the previous session. The renewed dollar strength also weighed on the Australian and New Zealand dollars , which each fell 0.02%.

Persons: Tony Sycamore, Shunichi Suzuki, David Doyle Organizations: U.S, Treasury, European Central Bank, Federal Reserve, IG, Japanese Finance, ECB, New, Macquarie Locations: U.S, United States, freefall, Tokyo, New Zealand

“There are,’’ the Bank of England warns, “more consequences from falling prices than meets the eye.’’What could be so bad about lower prices? It is only now emerging from decades of falling prices that began with the collapse of its property and financial markets in the early 1990s. Mainly because falling prices tend to discourage consumers from spending. Why buy now, after all, if you can purchase what you want — cars, furniture, appliances, vacations — at a lower price later? If consumers were to pull back, en masse, to await lower prices, businesses would face intense pressure to cut prices even more to try to jump-start sales.

Persons: they're, that's, what's, Joe Biden's, ’ ’ Lisa Cook, “, United States hasn’t, Tom Krisher Organizations: WASHINGTON, Federal Reserve's Board of Governors, Bank of England, United, España, Unemployed, Bank of Japan, Fed, Bank for International, AP Locations: America, United States, Japan, Spanish, Detroit

☆ Texan bitcoiners start mining in Argentina, where peso is in freefall
▼ + stars: | 2024-03-26 | by ( Mackenzie Sigalos | ) www.cnbc.com time to read: +2 min

For two Texas-based bitcoin miners, the oil deposit offers a dream resource: wasted energy. Brent Whitehead and Matt Lohstroh, both graduates of Texas A&M University, have been mining bitcoin on the oil fields of East Texas since 2019. That's when they founded Giga Energy with the goal of taking flared natural gas and turning it into electricity to run bitcoin mines, which are notoriously power-thirsty. Whitehead comes from a long line of "wildcats," a term used to describe those who engage in high-risk exploratory drilling. On the small pilot site in Argentina, Exa Tech is handling operations on the ground, Phoenix Global is providing the gas and Giga is supplying the equipment.

Persons: Brent Whitehead, Matt Lohstroh, Vaca, Whitehead Organizations: Texas, M University, Giga Energy, Giga, Phoenix Global Resources, IT, Tech, Energy Systems, CNBC, wildcats, Exa, Phoenix Global Locations: Texas, Argentine, Mendoza, East Texas, Argentina, Shanghai, Vaca Muerta, Denver

☆ SpaceX will attempt its 3rd Starship launch today. Watch live to see if the rocket explodes again or finally reaches orbit.
▼ + stars: | 2024-03-14 | by ( Morgan Mcfall-Johnsen | ) www.businessinsider.com time to read: +3 min

SpaceX's Starship, the world's largest rocket, may launch toward orbit on Thursday. AdvertisementWatching a rocket launch is a thrilling experience. Watching SpaceX's Starship, the world's largest rocket ever, is even more exciting. A screengrab from SpaceX's livestream on X shows SpaceX's Starship spacecraft and Super Heavy rocket on the launchpad. AdvertisementThis would be Starship's third attempt at orbit, launching atop its Super Heavy booster.

Persons: —, it'll, Starship's Organizations: Service, SpaceX, Super, NASA Locations: Australia

☆ Will Starship explode again, or will it finally reach orbit? Watch the launch live and see for yourself.
▼ + stars: | 2024-03-13 | by ( Morgan Mcfall-Johnsen | ) www.businessinsider.com time to read: +3 min

SpaceX's Starship, the world's largest rocket, may launch toward orbit on Thursday. If Starship reaches orbit it will be a major spaceflight achievement. AdvertisementWatching a rocket launch is a thrilling experience. Watching SpaceX's Starship, the world's largest rocket ever, is even more exciting. Screenshot of SpaceX's Starship-Super Heavy rocket on launch pad.

Persons: —, SpaceX SpaceX's, Starship's Organizations: Service, SpaceX, Super, NASA Locations: Australia

☆ Woman Could Have Prevented Great Recession; Ignored by Wall Street Men
▼ + stars: | 2024-03-04 | by ( Josie Cox | ) www.businessinsider.com time to read: +21 min

The story of Brooksley Born is not only the tale of a remarkable regulator whose Cassandra-like warnings — if heeded — could've prevented the great financial crisis from exploding into raging, ruinous enormity. Not long after she assumed chairmanship of the CFTC, Born started to feel a lingering unease with the rapidly expanding derivatives market. So to Rubin, Born was more of an inconvenience than anything, and she certainly wasn't in his club. Not long after, Treasury officials lobbied Congress to pass legislation preventing the CFTC from being able to regulate the OTC derivatives market. In the months and years that followed, it became increasingly hard to deny that the multi-trillion-dollar OTC derivatives market was the root cause of the great financial crisis.

Persons: Lehman Brothers, jolting, — could've, It's, Potter Stewart, Henry Edgerton, Porter, she'd, Bill Clinton, Clinton, Janet Reno, Brooksley, Michael Greenberger, Born, Gibson, weren't, Robert Rubin, Goldman Sachs, Rubin, Michael Hirsh, Alan Greenspan, Greenspan, Ayn Rand, Hirsh ., Hirsh, Greenspan didn't, braggadocian machismo, lauding Rubin, Lawrence Summers, Arthur Levitt, Josie Cox, Levitt, Summers, Jim Leach, Richard Lugar, —, Bethany McLean, Joe Nocera, Bob Rubin, Born's Cassandra, George W, Bush, Lauren Rivera, Christine Lagarde, Lehman, ABRAMS Organizations: Stanford University, Stanford Law School, Stanford, Appeals, District of Columbia Circuit, Arnold, Futures Trading Commission, American, CFTC, Bankers Trust, Procter, Gamble, Sumitomo, Federal Reserve, Fed, Securities and Exchange Commission, Financial Markets, Abrams, Term Capital Management, Enron, SEC, Born, Northwestern's Kellogg School of Management, Financial, International Monetary Fund, Lehman Brothers, Reuters, Street, The Washington Post, Guardian, Abrams Press Locations: California, Vietnam, United States, Washington, America, ABRAMS , New York

☆ Some NYCB deposits may be a flight risk after Moody’s downgrades ratings again
▼ + stars: | 2024-03-04 | by ( Hugh Son | ) www.cnbc.com time to read: +3 min

Late Friday, Moody's Investors Service cut the deposit rating of NYCB's main banking subsidiary by four notches, to Ba3 from Baa2, putting it three levels below investment grade. The downgrade could trigger contractual obligations from business clients of NYCB who require the bank to maintain an investment grade deposit rating, according to analysts who track the company. But the figures are from the day before Moody's began slashing the bank's ratings, sparking speculation about possible flight of deposits since then. For instance, while Fitch Ratings cut NYCB's credit ratings to junk last week, it kept the bank's long-term uninsured deposits at BBB-, one level above junk. To replace deposits, NYCB could raise brokered deposits, issue new debt or borrow from the Federal Reserve's facilities, but that would all probably come at a higher cost, McGratty said.

Persons: NYCB, Moody's, Keith Horowitz, Horowitz, John Pinto, Chris McGratty, NYCB didn't, McGratty Organizations: New York Community Bank, New, Community Bank, Moody's, Citigroup, Fitch, BBB, Federal, CNBC PRO Locations: New, Yonkers , New York, Baa2, Moody's

☆ Space photos from 5 recent moon-landing missions show how tiny engineering errors can cause big problems, like crashing or landing sideways
▼ + stars: | 2024-02-27 | by ( Morgan Mcfall-Johnsen | ) www.businessinsider.com time to read: +7 min

The Houston-based company's uncrewed Odysseus lander was almost lost to one of the tiniest possible mistakes. The view from the Intuitive Machines Odysseus lander as it descended to its landing site. Intuitive MachinesWith less than two hours to go before landing, Intuitive Machines engineers frantically whipped up a new navigation system. Indeed, several robotic moon landing attempts have crashed or otherwise malfunctioned in the last few years. Similarly, Intuitive Machines' success on Thursday shows that small errors don't necessarily have to spell the end of a mission.

Persons: Steve Altemus, Trent Martin, Odysseus, Astrobotic —, Peregrine, Astrobotic Astrobotic, Astrobotic, Vikram, SpaceNews, Robert Braun, Kailasavadivoo Sivan, ispace, NASA's, Braun, Japan's Smart Lander, SLIM, LEV, Takara Tomy Organizations: US, Business, NASA, Reconnaissance, Goddard, Arizona State University, Johns Hopkins Applied Physics Laboratory, NASA's Goddard Space Flight, freefall, JAXA, Takara, Sony Group Corporation, Doshisha Locations: India, Japan, Houston

☆ Africa's largest economy is battling a currency crisis and soaring inflation
▼ + stars: | 2024-02-21 | by ( Elliot Smith | ) www.cnbc.com time to read: +1 min

With annual inflation nearing 30% and a currency in freefall, Nigeria is facing one of its worst economic crises in years, provoking nationwide outrage and protests. The currency is down around 70% since May 2023 when Tinubu took office, inheriting a struggling economy and promising a raft of reforms aimed at steadying the ship. In a bid to fix the beleaguered economy and attract international investment, Tinubu unified Nigeria's multiple exchange rates and enabled market forces to set the exchange rate, sending the currency plunging. In January, the market regulator also changed how it calculates the currency's closing rate, resulting in another de facto devaluation. Years of foreign exchange controls have also generated enormous pent-up demand for U.S. dollars at a time when overseas investment and crude oil exports have declined.

Persons: Bola Tinubu, Tinubu Organizations: U.S, greenback Locations: IBADAN, Nigeria, Ibadan, freefall, Nigerian

☆ NYCB woes reignite fears about shaky banks as anniversary of March crisis nears
▼ + stars: | 2024-02-07 | by ( Hugh Son | ) www.cnbc.com time to read: +1 min

The New York Community Bank (NYCB) headquarters in Hicksville, New York, US, on Thursday, Feb. 1, 2024. Embattled lender New York Community Bank disclosed a litany of financial metrics in the past 24 hours in a bid to soothe skittish investors. But one of the most crucial resources for any bank appears to be in short supply for NYCB lately: confidence. The moves spurred a 6% jump Wednesday in NYCB shares, a small dent in the stock's more than 50% decline since the bank reported fourth-quarter results last week. The sudden decline in NYCB, previously deemed one of last year's winners after acquiring the assets of Signature Bank, reignited fears over the state of medium-sized American banks.

Persons: Alessandro DiNello, Ben Emons, Moody's, NYCB Organizations: New York Community Bank, New, Community Bank, NewEdge, Signature Bank, Investors, Bank Locations: Hicksville , New York, NYCB, , New York

☆ NYCB shares continue tumble after Moody's downgrades bank's credit rating to junk
▼ + stars: | 2024-02-07 | by ( Hugh Son | ) www.cnbc.com time to read: +1 min

A sign is pictured above a branch of the New York Community Bank in Yonkers, New York, U.S., January 31, 2024. New York Community Bank' s shares continued their downward spiral Wednesday after Moody's Investors Service cut the firm's credit rating two notches to junk status. NYCB shares fell about 3%, trimming earlier losses of around 10%, in premarket trading. Late Tuesday evening, Moody's issued a report stating that NYCB faced "multi-faceted financial, risk-management and governance challenges." "In Moody's view, control functions with strong knowledge of a bank's risks are key to a bank's credit strength."

Persons: Moody's, NYCB Organizations: New York Community Bank, Moody's Locations: Yonkers , New York, U.S, Baa3

“Planet Earth is big enough for the two countries to succeed,” Xi told Biden. Before leaving for California, Kishida told reporters a meeting with Xi had not yet been decided on. The aura of goodwill generated by the meeting was marred somewhat, however, by a comment by Biden. “I feel that China-U.S. relations have eased, and maybe the next step will be cooperation,” said Xu Jiaguang a 31-year-old firefighter. ___Associated Press writer Mari Yamaguchi in Tokyo and video producer Caroline Chen in Beijing contributed to this report.

Persons: Joe Biden, Xi, lunching, they’re, ” Xi, Biden, ”, Jeff Liu, Fumio Kishida, Kishida, Madoka Fukuda, ” Biden, Mao Ning, Xu Jiaguang, Gao Kexin, Mari Yamaguchi, Caroline Chen Organizations: Foreign, South, . Security, Samsung Electronics, SK Hynix, Kookmin Ilbo, Economic Cooperation, Communist Party . Tokyo, Tokyo's Hosei University, Foreign Ministry, China -, U.S, Associated Press Locations: TAIPEI, Taiwan, California, China, Beijing, U.S, Taiwan Strait, North Korea, Seoul, Pyongyang, Russia, South Korea, Japan, Asia, San Francisco, United States, China - U.S, Tokyo

☆ Opinion: Who a ‘stalemate’ in Ukraine really benefits
▼ + stars: | 2023-11-08 | by ( Augusta Anthony | Opinion Jade Mcglynn | ) edition.cnn.com time to read: +12 min

CNN —Responses to the recent statements by the commander in chief of the Ukrainian military, Valery Zaluzhny, warning of a stalemate war between Ukraine and Russia, have been varied and revealing. On the other side, skeptics of Western support for Ukraine gloatingly cited the interview as evidence that Ukraine should have capitulated at some imagined earlier opportunity. Ukraine President Volodymyr Zelenskyi meets with the Secretary General of NATO Jens Stoltenberg on September 28, 2023 in Kyiv, Ukraine. It is not Ukraine that is desperate to continue war despite plentiful options to stop the bloodshed — it is Russia. And would there still be ‘fatigue’ in Western capitals if Ukraine had retaken more territories during the summer counteroffensive?

Persons: Jade McGlynn, “, Read, Valery Zaluzhny, Jade McGlynn Jade McGlynn, Zaluzhny, Zaluzhny’s, Volodymyr Zelensky, Igor Zhovka, Ukraine gloatingly, Volodymyr Zelenskyi, NATO Jens Stoltenberg, Yan Dobronosov, Dmitry Peskov, Peskov, Anatolii Stepanov, Washington, ’, Putin, worldviews, Vladimir Putin, Ukrainian Armed Forces Valeriy Zaluzhny, Gleb Garanich Organizations: Center for Strategic, International Studies, CNN, Western, Ukraine, NATO, Ukrainian Air Defence, Kremlin, Ukrainian Armed Forces, Reuters, EU, North Korea — Locations: Putin’s Russia, Ukraine, Russia, frontlines, Kyiv, AFP, North America, West Germany, West, Iran, North Korea, freefall, Europe, Eastern Europe, Korea

Panama's legislature first agreed a contract extension with Canadian mining company First Quantum and it's local subsidiary, Minera Panama, in March. Eight lawsuits were also filed with Panama's Supreme Court arguing it was unconstitutional. Critics warned using a new law to revoke the contract could leave the government liable to legal action from Minera Panama. Earlier in the day nurses marched to the Supreme Court building to demand judges prioritize the constitutionality lawsuits. The mine is “in the middle of a jungle,” according to Minera Panama’s own contractor, Jan De Nu Group.

Persons: —, Laurentino Cortizo, Cortizo, Minera, Jan De, El Organizations: PANAMA CITY, National Assembly, Minera, Mineral Resources, Panama's, Toronto Stock Exchange, Supreme Court, Jan De Nu, Global Forest Watch, El Nino Locations: PANAMA, Minera Panama, Colon, Panama

☆ China's economy stumbled again in recent months with factory activity falling and foreign investment plunging 34%
▼ + stars: | 2023-10-31 | by ( Jennifer Sor | ) www.businessinsider.com time to read: +2 min

China's economy has stumbled since coming out of the country's COVID-19 lockdown late last year. Factory activity declined in October, while foreign investment tumbled 34% in September. Experts say the nation is at risk of a debt-deflation crisis that could produce a "lost decade" for its economy. AdvertisementAdvertisementData from September and October show China's economy stumbling further, with factory activity falling and foreign investment seeing a significant decline. Factory activity dropped through the month of October, with China's manufacturing purchasing managers' index falling to restrictive territory at 49.5.

Persons: — Organizations: Service, China's Commerce Ministry, Ministry, CSI Locations: China, Beijing, freefall

☆ Germany cruise past United States 3-1 in friendly
▼ + stars: | 2023-10-14 | by ( ) www.reuters.com time to read: +2 min

Soccer Football - German Football Association present Julian Nagelsmann as the new coach of the national team - German Football Federation Headquarters, Frankfurt, Germany - September 22, 2023 Germany coach Julian Nagelsmann during the press conference REUTERS/Kai Pfaffenbach/File photo Acquire Licensing RightsNEW YORK, Oct 14 (Reuters) - Germany's new head coach Julian Nagelsmann enjoyed his debut as the four-time world champions recovered from a goal down to beat the United States 3-1 away in a friendly on Saturday. U.S. captain Christian Pulisic thrilled the home crowd when he opened the scoring but the Americans could not hold onto their lead and midfielder Guendogan levelled before halftime while Fuellkrug and Musiala struck after the break. "We had a great start to the game, I think the energy levels were high," said U.S. midfielder Weston McKennie. Three minutes later attacking midfielder Musiala fired another shot into the net after a neat flick from Fuellkrug. The U.S. next play Ghana in a friendly in Nashville, Tennessee on Tuesday when Germany face Mexico in Philadelphia.

Persons: Julian Nagelsmann, Kai Pfaffenbach, Ilkay, Niclas Fuellkrug, Jamal Musiala, Christian Pulisic, Guendogan, Musiala, Weston McKennie, Matt Turner, Leroy Sane, Turner, McKennie, Gio Reyna, Gregg Berhalter, Amy Tennery, Ken Ferris Organizations: Soccer Football, German Football Association, German Football Federation Headquarters, United, Fuellkrug, U.S, Thomson Locations: Frankfurt, Germany, United States, freefall, Japan, East Hartford , Connecticut, U.S, Ghana, Nashville , Tennessee, Mexico, Philadelphia, New York

LOS ANGELES (AP) — In 2019, when the K-pop group TOMORROW X TOGETHER (TXT for short) first debuted, they were best known as the first BigHit Entertainment boy band since BTS. This year, they became the first ever K-pop group to headline it, a few months after their album, "The Name Chapter: Temptation,” debuted at No. “Growing requires growing (through) pain all the time. “We take great value in working together with various artists,” Taehyun says of their global collaborations. “Because collaborating with different artists always inspires us and it pushes us forward.

Persons: Huening Kai, TXT, ”, Peter Pan, “, Taehyun, They've, Anitta, Jonas Brothers, ” Taehyun Organizations: ANGELES, —, Entertainment, U.S, Associated Press Locations: Chicago

☆ Argentina central bank hikes key rate to 133% as inflation worsens
▼ + stars: | 2023-10-12 | by ( Jorge Otaola | ) www.reuters.com time to read: +2 min

The facade of Argentina's Central Bank is pictured in the financial district of Buenos Aires, Argentina December 7, 2021. Argentina's central bank is struggling to keep the benchmark interest rate in line with inflation expectations, with a central bank poll of analysts later in the day forecasting inflation to end the year at more than 180%. Reuters Graphics Reuters GraphicsThe impacts of inflation has been worsened by the government's near-18% devaluation of the peso in mid-August, which coincided with the prior central bank hike, where it increased the interest rate from 97% to 118%. Milei, who is seeking to shut the central bank and dollarize the economy to tame inflation, recently recommended depositors avoid renewing bank holdings in pesos, arguing that the peso does not even serve as "excrement." The central bank's rate change on Thursday came after a last-minute decision not to raise the rate to 145% "following a leak," after Reuters reported the higher figure, citing a source close to the bank.

Persons: Agustin Marcarian, Alberto Fernandez, Javier Milei, Jorge Otaola, Brendan O'Boyle, Isabel Woodford, Anthony Esposito, Richard Chang, Jamie Freed Organizations: Central, REUTERS, Graphics Reuters, Reuters, Thomson Locations: Buenos Aires, Argentina, BUENOS AIRES

☆ Argentina cenbank raises interest rate to 145% as peso falters - source
▼ + stars: | 2023-10-12 | by ( ) www.reuters.com time to read: +1 min

The facade of Argentina's Central Bank is pictured in the financial district of Buenos Aires, Argentina December 7, 2021. REUTERS/Agustin Marcarian/File Photo Acquire Licensing RightsBUENOS AIRES, Oct 12 (Reuters) - Argentina's central bank raised the country's benchmark interest rate to 145% from 118% on Thursday, a source close to the matter told Reuters, as the South American country battles triple-digit annual inflation. The hike follows the rapid freefall of Argentina's peso, with the currency surpassing the psychological barrier of 1,000 pesos per U.S. dollar earlier this week with less than two weeks before a crucial presidential election. That brought the annual inflation rate to 138.3%. Reporting by Jorge Otaola; Writing by Brendan O'Boyle; Editing by Anthony EspositoOur Standards: The Thomson Reuters Trust Principles.

Persons: Agustin Marcarian, Jorge Otaola, Brendan O'Boyle, Anthony Esposito Organizations: Central, REUTERS, Thomson Locations: Buenos Aires, Argentina, BUENOS AIRES, American

☆ Russia is pounding Ukraine with glide bombs. 40 of the massive weapons were dropped on a single Ukrainian region in one night, a military expert said.
▼ + stars: | 2023-10-08 | by ( Rebecca Rommen | Julian Kossoff | Hans Petter Midttun | ) www.businessinsider.com time to read: +2 min

Russia is pounding Ukraine with powerful glide bombs. Forty of the bombs were dropped on military and civilian targets in one region on Monday. The powerful bombs can weigh weigh as much as 3,300 pounds, Forbes reported. AdvertisementAdvertisementRussia is pounding Ukraine with powerful glide bombs, hitting a single Ukrainian region with 40 of the weapons in one night this week, Hans Petter Midttun, a nonresident fellow at the Centre of Defence Strategies, wrote for the Euromaidan Press. "First employed in early March, the Russian-winged UPAB-1500 and FAB-500 glide bombs are being used in increasing numbers," the military expert wrote.

Persons: Forbes, —, Hans Petter Midttun, Oleksiy Organizations: Service, Centre of Defence, Euromaidan Press, Russian Air Force, Telegraph, The Times Locations: Russia, Ukraine, Ukrainian, Russian, Kyiv, London

CNN —A series of powerful earthquakes struck western Afghanistan on Saturday killing at least 100 people and wounding more than 500 others, according to the UN’s humanitarian office, as the nation reels from another natural disaster at a time of deep economic crisis. The 6.3 magnitude earthquake struck 25 miles (40 kilometers) west of Herat city in the western Herat province – the third largest in Afghanistan. The initial quake was also felt in neighboring provinces of Badghis and Farah and was followed by multiple aftershocks. A deadly quake in March struck northeastern Afghanistan, sending residents fleeing from their homes as it brought down entire buildings and triggered devastating landslides. And a 5.6 magnitude earthquake on January 17, 2022 struck Badghis, another western province near Herat bordering Turkmenistan, killed more than 20 people and reduced hundreds of brick homes to rubble.

Persons: Farah, “, OCHA, Mohsen Karimi Organizations: CNN, UN Office, Humanitarian Affairs, UN, Getty, Bank Locations: Afghanistan, Herat, Herat province –, Badghis, Herat City, AFP, United States, freefall, New Delhi, Khost, Pakistan, Turkmenistan

☆ SBF's attorney tried to blame the FTX collapse on the turbulence of cryptocurrency in general
▼ + stars: | 2023-10-04 | by ( Lloyd Lee | Katie Balevic | ) www.businessinsider.com time to read: +4 min

Prosecutors now say that Sam Bankman-Fried committed fraud and conspiracy when he oversaw FTX. AdvertisementAdvertisementThe collapse of FTX in 2022 wasn't the result of fraud or a deliberate scheme to steal from customers; it was just the nature of a volatile cryptocurrency market, Sam Bankman-Fried's attorney argued on Wednesday. His attorney, Mark Cohen, argued during opening statements on Wednesday that Bankman-Fried never intended to defraud anyone or mislead customers to get them to invest in FTX. For the first time since 2021, the crypto market overall was worth less than $1 trillion by June 2022. That kind of turbulence is precisely what can overwhelm burgeoning companies like FTX, Cohen tried to argue.

Persons: Sam Bankman, Fried, SBF, —, Bankman, Mark Cohen, Cohen, Sam, FTX, Sheila Warren, Qiao Wang Organizations: Prosecutors, Service, Alameda Research, Crypto, Innovation, New York Times, Alliance Locations: FTX, Manhattan, Bahamas

☆ Veteran investor David Roche has a contrarian call on grain prices, says prices will soar
▼ + stars: | 2023-10-02 | by ( Elliot Smith | ) www.cnbc.com time to read: +2 min

Grain prices have been in freefall of late as investors bet on a resurgence of supply from the U.S., Russia and Ukraine — but veteran strategist David Roche disagrees. Contrary to market consensus, Roche, president and global strategist at Independent Strategy, expects a 13-15% annual increase in wheat prices over the next two years. His comments come as wheat prices remain down around 29% year-to-date and at their lowest levels since September 2020, with short positions — bets that prices will fall — recently hitting a three-month high, according to a report from Independent Strategy. Corn prices are also trading around three-year lows while soybeans recently notched a four-year low. Meanwhile Russia, the world's largest grain exporter, has also produced large harvests which analysts expect to get through export blockades.

Persons: David Roche, Roche, CNBC's, we've Organizations: Independent, El Nino, U.S . Department of Agriculture Locations: Kramatorsk, Donetsk region, Ukraine, U.S, Russia, Mississippi

“Age is just a number,” Dorothy Hoffner told a cheering crowd moments after touching the ground Sunday at Skydive Chicago in Ottawa, about 85 miles (140 kilometers) southwest of Chicago, the Chicago Tribune reported. The Guinness World Record for oldest skydiver was set in May 2022 by 103-year-old Linnéa Ingegärd Larsson from Sweden. But Skydive Chicago is working to have Guinness World Records certify Hoffner's jump as a record, WLS-TV reported. “Wonderful,” Hoffner said. After her jump, Hoffner's mind quickly turned to the future and other challenges.

Persons: Dorothy Hoffner, Ingegärd Larsson, Hoffner, “ Let’s, let’s, Geronimo, ” Hoffner, who's, “ I’ve, ” Organizations: Ill, Skydive Chicago, Chicago Tribune, Guinness, Records, U.S . Parachute Locations: OTTAWA, Chicago, Illinois, Ottawa, Sweden

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