Coinbase will be cutting a fifth of its workforce following an earlier staff reduction in June 2022 in an attempt to preserve its assets as the crypto industry faces a severe downturn. Some of the largest firms in Silicon Valley in general have been delivering a steady stream of job cut announcements in recent months….
Coinbase to Cut a Fifth of Its Workforce in a Second Round of Layoffs
January 12, 2023
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Foreign Affairs Committee Chair Sounds Alarm Over ‘Stealth’ Chinese Purchase of Cambridge Chip Startup
January 12, 2023
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Foreign Affairs Committee Chair Alicia Kearns on Wednesday wrote to Business Secretary Grant Shapps, calling for a review into the Chinese take over of a UK semiconductor company. She said the investment into Cambridge University start-up Flusso wasn’t reviewed under the National Security and Investment Act because the name of the acquirer was not mentioned…
Australian Consumer Watchdog to Probe Banks’ Deposit Rates Amid Concerns About Unfair Practices
January 11, 2023
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Australian Treasurer Jim Chalmers has asked the country’s competition authority to investigate the deposit rates banks are offering savers due to concerns about the delays in rate increases. In an interview with the Australian Financial Review, the treasurer noted that consumers should have received a boost to their saving rates by now. “Banks should treat…
In ESG Debate, Some See Threat to Livelihood, Traditional Values
January 11, 2023
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Charlie Masters, Kentucky farmer, has watched the prices rise. Diesel fuel and nitrogen fertilizer, two of the most critical ingredients for running his Fleming County beef and produce operation, are still costlier than just two years ago. That’s partly due to recent fluctuations in the prices of oil and natural gas. What’s behind those trends?…
Will the 60/40 Investment Portfolio Survive and Thrive in 2023?
In 2022, the global financial markets recorded sharp losses in both stocks and bonds, wreaking havoc on investors’ portfolios everywhere, including the conventional 60/40 investment portfolio. For decades, the 60/40 portfolio—60 percent in equities and 40 percent in bonds—has been the standard practice. This diversified asset allocation aims to minimize risk and generate returns during…
Bed Bath & Beyond Reports Deeper Losses Than Prior Warnings
Bed Bath & Beyond (BBBY) reported deeper losses than expected after the company announced last week that it might have to seek bankruptcy. The home goods retailer witnessed a net loss of $393 million for the third quarter, more than the $366 million net loss in the second quarter. Analysts last week had originally expected a $386…
Investor Peter Schiff Predicts More Pain in 2023
Peter Schiff, chief economist and global strategist of Euro Pacific Asset Management, is famous for his bearish takes. A falling stock market, a deep recession, and a sovereign debt crisis were among his predictions in the past. As the first trading week in January came to a close, The Epoch Times sat down with Schiff…
ESG Bond Issuance Slumped in 2022 as Greenwashing Headaches Persist
Is the boom over for global environmental, social, and governance (ESG) bonds? In 2022, businesses and governments worldwide raised $863 billion in ESG bonds, down 19 percent from the previous year’s haul of $1.1 trillion, according to data compiled by Bloomberg. This is the first time sustainable bonds have declined since they were introduced in…
Mortgage Buy-downs—A New Trend for 2023?
January 9, 2023
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With interest rates currently hovering around 7 percent, many lenders across the country have seen a resurgence of the mortgage buy-down—a plan that allows potential homeowners to save money on monthly mortgage payments. The National Association of Mortgage Brokers (NAMB) describes a mortgage buy-down as a type of financing that provides lower interest rates for…
Germany, Norway Reach Agreement on Blue Hydrogen Supplies
January 7, 2023
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A major Norwegian energy company has reached an agreement to supply Europe’s largest economy with “blue” hydrogen. Norway’s Equinor announced an agreement on Jan. 5 to supply the German power utility, RWE, with low-carbon hydrogen, in the first step towards replacing natural gas and coal, reported Deutsche Welle. The Norwegian supplier agreed to build hydrogen fueled power…
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