Law enforcement officials say that America’s drug war is now in cyberspace, and the main antagonists are transnational criminal organizations (TCOs) serviced by Chinese money laundering outfits. “Mexican cartels’ ability to traffic deadly fentanyl into the United States is greatly enhanced by Chinese money laundering,” said Steven Cagen, assistant director of the Countering Transnational Organized…
Chinese Money Launderers a Major Obstacle in Fight Against Fentanyl: US Officials
July 13, 2023
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Florida Becomes Nation’s Inflation Hot Spot, Housing a Major Contributor
July 12, 2023
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Florida has become the nation’s inflation hot spot. Data released on July 12 by the Bureau of Labor Statistics (BLS) showed that the Consumer Price Index (CPI) rose 0.2 percent in June, behind a 0.1 percent increase in May. Overall, there was an increase of 3.0 percent over the last 12 months before a seasonal…
Stock Market Today: Wall Street Returns to Highest Level in More Than a Year After Inflation Cools
NEW YORK—Wall Street returned to its highest level in more than a year on Wednesday after a report showed inflation cooled a bit more than expected last month, which hopefully takes some more pressure off the economy. The S&P 500 rose 32.90, or 0.7 percent to 4,472.16 to reach its strongest closing level since April…
Pending UPS Strike Will Likely Disrupt The Package Delivery Sector
A looming strike by the United Parcel Service could disrupt deliveries, in the largest strike against a single employer in American history. Contract negotiations between UPS and the Teamsters stalled last week, raising the likelihood of a strike in early August, as well as major disruptions in a highly competitive package delivery market. On June…
Closing Prices for Crude Oil, Gold, and Other Commodities (July 12)
July 12, 2023
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Benchmark U.S. crude oil for August delivery rose 92 cents to $75.75 a barrel Wednesday. Brent crude for September delivery rose 71 cents to $80.11 a barrel. Wholesale gasoline for August delivery rose 5 cents $2.67 a gallon. August heating oil rose 2 cents to $2.60 a gallon. August natural gas fell 10 cents to…
How Major US Stock Indexes Fared July 12
Stocks closed higher on Wall Street after a report showed inflation cooled a bit more than expected last month. The S&P 500 rose 0.7 percent Wednesday. The Dow added 86 points, or 0.3 percent, and the Nasdaq rose 1.2 percent. Treasury yields tumbled in the bond market as the cooler inflation data pushed traders to…
No More Cost of Living Relief As Australian Government Focuses on Budget Repair
Australian Treasurer Jim Chalmers has stated that the government is currently not considering more living cost relief but instead will focus on repairing the budget to alleviate the pressure facing households. This comes as the federal Labor government is expected to deliver a budget surplus of around $20 billion (US$13.46 billion) for the 2022-2023 financial…
Bank of Canada Hikes Key Rate to 5 Percent, Says Many Households Healthy Financially
OTTAWA—As the Bank of Canada raised its trend-setting interest rate to 5 percent on July 12, it noted that households are on average in better financial shape than some reports might suggest. Bank of Canada senior deputy governor Carolyn Rogers said the central bank wanted to take a “deeper dive” into the data when faced…
SpaceX Satellites Interfere With Astronomical Observation
July 12, 2023
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Scientists using a low-frequency telescope in Europe observed that SpaceX’s satellites were emitting a radio frequency via their onboard electronics that can interfere with astronomical observations. According to a study’s press release published in the Astronomy and Astrophysics academic journal, scientists used the LOFAR telescope in the Netherlands to detect any low-frequency radio waves that…
Central Banks Are Increasingly Interested in CBDCs, Says BIS Survey
July 12, 2023
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At least 93 percent of central banks are already researching the implementation of central bank digital currencies (CBCD), according to a recent survey. Twenty-four central banks in emerging and in advanced economies are expected to have digital currencies in circulation by 2030, the Bank for International Settlements (BIS) said in a survey published on July…
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