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☆ Top Employee of Crypto Exchange BitMEX Sentenced Over U.S. Charge
▼ + stars: | 2022-11-17 | by ( Mengqi Sun | ) www.wsj.com time to read: +2 min

A top employee at cryptocurrency derivatives trading exchange BitMEX was sentenced to 12 months probation Wednesday in federal court in Manhattan after pleading guilty to violating U.S. anti-money-laundering rules. U.S. prosecutors alleged Mr. Dwyer and the exchange’s founders failed to implement anti-money-laundering and know-your-customer programs, as required by U.S. law. Under the plea agreement, Mr. Dwyer also agreed to pay $150,000 in fines. “The government’s heavy-handed approach with respect to the prosecution of Mr. Dwyer is regrettable, and Mr. Dwyer is relieved to have this matter behind him and looks forward to getting on with his life, both personally and professionally,” a spokesperson for Mr. Dwyer said in an email Thursday. Newsletter Sign-up WSJ | Risk and Compliance Journal Our Morning Risk Report features insights and news on governance, risk and compliance.

☆ Joan Didion’s Life in Objects
▼ + stars: | 2022-10-28 | by ( Anna Kodé | ) www.nytimes.com time to read: +15 min

(Ms. Didion’s death was the result of complications from Parkinson’s disease.) Ms. Didion’s stylish Corvette Stingray isn’t in the sale, but the photos that made it famous are. Quintana eventually pulled through, but died in 2005 at 39, a few months before Ms. Didion’s 2005 book, “The Year of Magical Thinking,” was published. In the book, Ms. Didion wrote about the heartbreak and challenges of that era of her life: “I learned to find equal meaning in the repeated rituals of domestic life. Following Ms. Didion’s passing, Ms. Smith, an artist and singer known as the “godmother of punk,” posted a tribute on Instagram, articulating what many felt.

☆ Premarket stocks: The Fed is killing the housing market
▼ + stars: | 2022-10-28 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +6 min

This ultra-resilient economy stands in the face of the Federal Reserve’s aggressive attempts to quell inflation by slowing growth through aggressive interest rates. Those higher rates, fueled by the Federal Reserve’s unprecedented campaign of hiking interest rates to tame soaring inflation, are beginning to choke the housing market. “The surge in mortgage rates and extremely high housing prices has led to massive pullback in first time home purchasing and has pushed investors to the side. But housing is a bellwether for the rest of the economy, and these contractions will inevitably weigh on broader US growth. Alphabet (GOOG) and Facebook parent Meta Platforms (META) fell short of earnings expectations last quarter, citing a slowing digital ad market.

☆ The Fed is considering reducing rate hikes in 2023, says EY-Parthenon's Gregory Daco
▼ + stars: | 2022-10-21 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailThe Fed is considering reducing rate hikes in 2023, says EY-Parthenon's Gregory DacoCNBC's Steve Liesman and Gregory Daco, EY-Parthenon, join 'The Exchange' to discuss inflation and the possibility the Fed will slow rate hikes.

☆ U.S. retail sales unchanged; consumers showing resilience
▼ + stars: | 2022-10-14 | by ( Lucia Mutikani | ) www.reuters.com time to read: +7 min

But consumers are not rolling over yet, with the report from the Commerce Department on Friday also showing a measure of underlying retail sales rising last month, thanks to strong wage gains and savings. These so-called core retail sales were also stronger than initially thought in August. Register now for FREE unlimited access to Reuters.com RegisterThe unchanged reading in retail sales last month followed an upwardly revised 0.4% rise in August. Retail sales increased 8.2% on a year-on-year basis in September. Data for August was revised higher to show these core retail sales rising 0.2% instead of being unchanged as previously reported.

☆ 6 top battery players vying to power the $27.7 billion electric-airplane business
▼ + stars: | 2022-10-10 | by ( Andrew Moseman | ) www.businessinsider.com time to read: +6 min

While today's technology doesn't allow for battery-powered long-range airliners, plenty of companies are working on short- and medium-range electric aircraft. The global market for electric aircraft is estimated to have reached $7.9 billion in 2021, according to market research company MarketsandMarkets. It's projected to reach $27.7 billion by 2030, and building the batteries to power those aircraft could be a billion-dollar market by 2030. Electric Power SystemsCEO: Nathan MillecamHQ: North Logan, UtahNASA's X-57 Maxwell, meant to prove the potential of electric flight, uses Epic batteries built by Electric Power Systems. Those lithium-ion cells need to become more efficient, however, for Eviation to reach its goal of flying hundreds of miles on only electric power.

☆ 5 signs the world is headed for a recession
▼ + stars: | 2022-10-02 | by ( Allison Morrow | ) edition.cnn.com time to read: +12 min

New York CNN Business —Around the world, markets are flashing warning signs that the global economy is teetering on a cliff’s edge. There’s now a 98% chance of a global recession, according to research firm Ned Davis, which brings some sobering historical credibility to the table. In an interview, its CEO was asked whether he believes the slowdown was a sign of a looming global recession. The upshotWhile the consensus is that a global recession is likely sometime in 2023, it’s impossible to predict how severe it will be or how long it will last. Not every recession is as painful as the 2007-09 Great Recession, but every recession is, of course, painful.

Higher interest rates are coming, and they are likely to remain in place for a long time. The Fed last week raised rates by three-quarters of a percentage point, the third consecutive hike of that size. 'RESET' UNDERWAYTo some degree, in fact, the thrust of Fed policy is to force just such a reevaluation. According to one index maintained by the Chicago Fed, overall financial conditions remain below their historical average, or slightly on the "loose" side, a signal that Fed officials may still have, as many of them put it, "work to do." Rising interest rates paid on safe investments like short-term U.S. Treasuries help that effort by changing the prices of a broad array of other assets.

☆ Alice, the first all-electric passenger airplane, takes flight
▼ + stars: | 2022-09-27 | by ( Jennifer Korn | ) edition.cnn.com time to read: +2 min

New York CNN Business —The world’s first all-electric passenger aircraft has successfully taken to the sky. Israeli company Eviation Aircraft successfully launched the Alice on Tuesday morning from Washington’s Grant County International Airport. The zero-emission plane traveled at an altitude of 3,500 feet for its eight-minute inaugural flight. Three different versions of the Alice are in protoype stages: a “commuter” variant, an executive version, and one specialized for cargo. The executive design has six passenger seats for a more spacious flight, and the cargo plane holds 450 cubic feet of volume.

☆ The Fed's fight against inflation could cost the US 1.2 million jobs
▼ + stars: | 2022-09-23 | by ( Alicia Wallace | Cnn Business | ) edition.cnn.com time to read: +7 min

Assuming no change in the labor force, that would mean around 1.2 million more people will be unemployed. "And it's really, at this point, like telling the tide not to come in -- to expect the labor market to soften." As the unemployment rate rises, workers lose bargaining power for higher wages and households pull back on spending. Powell has said that prolonged and entrenched high inflation would be even worse than moderate increases in the unemployment rate. "If we want to set ourselves up, light the way to another period of a very strong labor market, we have got to get inflation behind us.

Those were the outcomes the last time the Fed, under Paul Volcker's leadership, battled super-high inflation in the 1980s. "While the Fed is still likely to view a soft landing as a modal outcome, the window appears to be narrowing," Bank of America economists wrote. Historically once the unemployment rate rises by half a percentage point, it continues to rise another point or two, if not more. This week's decision is expected to take the Fed policy rate to a range of 3%-3.25% from the current 2.25%-2.50%. Inflation projections, however, could stick close to those laid out in June, he said, amid "dueling forces from inflation persistence and a more aggressive Fed stance and likely recession."

☆ Un nou vulcan activ a fost descoperit în extremitatea sudică a statului Chile
▼ + stars: | 2021-04-07 | by ( Publika.Md - Aici Sunt Știrile | ) www.publika.md time to read: +1 min

Geologii de la Universidad de Chile au anunţat marţi că au descoperit un nou vulcan activ în Patagonia chiliană, la circa 1.600 kilometri sud de capitala ţării, Santiago de Chile, informează AFP.Vulcanul, considerat activ deoarece are mai puţin de 5.000 de ani, este situat pe falia Liquińe-Ofqui, la 80 kilometri sud-vest de oraşul Coyhaique, în regiunea Aysen, scrie agerpres.ro Acesta se ridică la o altitudine de 1.280 de metri deasupra nivelului mării, la fel ca Vezuviul în sudul Italiei, au indicat geologii chilieni într-un comunicat. Vulcanul va fi de acum monitorizat de către geologi. "Gran Mate" a fost observat datorită mai multor explorări ale zonei începând din 2015 şi a unor zboruri de recunoaştere. Zona, situată în extremitatea sudică a statului Chile, este înzăpezită timp de zece luni pe an şi este greu accesibilă.Acest nou vulcan se adaugă celor 90 de vulcani activi din Chile. Cea mai mare parte a acestora se află pe falia Liquińe-Ofqui, care se întinde pe o lungime de circa 1.000 de kilometri în sudul ţării.

Persons: Gregory Organizations: Universidad Locations: Chile, Patagonia chiliană, ţării, Santiago de Chile, Coyhaique, Aysen, Italiei, americană, Universidad de Chile, America

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