Economy Archives - Page 22 of 58

FTX Scandal Deepens as Details of Fraud and Regulatory Neglect Emerge

Following the implosion of cryptocurrency company FTX last week, details are still emerging that reveal fraud and regulatory neglect as the scandal deepens. In the U.S., politicians are calling for stricter regulations on the cryptocurrency industry amid the FTX bankruptcy and potential fraud. “It shows the weaknesses of this entire…

Elon Musk Reveals He’s Working ‘7 Days a Week’ since Taking Twitter Over

Twitter's new boss Elon Musk has revealed he's working "from morning to night, seven days a week" since taking over the company and admits he has “too much” on his plate. The tech mogul gave an insight into his workload during a session at the Business 20 conference in Indonesia…

FTX Crypto Platform Implosion Takes Down Democrats’ 2nd Largest Donor after George Soros

After last week's implosion of the cryptocurrency platform FTX, the scandal has taken down the Democratic Party's second-largest donor after left-wing billionaire George Soros. FTX's co-founder and CEO is Democrat mega-donor Sam Bankman-Fried. The implosion of FTX saw Bankman-Fried's net worth plummet in the biggest single-day wealth plunge for a…

Think Tank Calls for Conservatives to Set ‘New Direction’ after Midterms

A Washington D.C. think tank is calling on conservatives to set a "new direction" following the midterms. The suggestion comes as Republicans weave competing narratives over the “red wave” that wasn’t. American Compass, a relatively new think tank, has hit the ground running in an effort to set the agenda…

Mortgage Rates Decline after Signs Inflation Is Easing

Mortgage rates have started to decline after signs of easing inflation emerged. According to data from Mortgage Daily News (MDN), mortgage rates fell sharply on Thursday by their biggest-ever margin. The drop came after data showed inflation cooled in October. The Consumer Price Index (CPI) data released on November 10…

US Inflation Dips Below 8 Percent for First Time since February

Inflation rates in the United States have dipped below 8 percent for the first time since February. According to new data from the Bureau of Labor Statistics (BLS), the U.S. annual inflation rate eased to 7.7 percent in October. The figure is down from 8.2 percent in September. The core…

Auto Loan Delinquencies Hit Highest Level in a Decade as Borrowing Costs Soar

Delinquencies on auto loans have hit their highest levels in a decade as growing numbers of American fail to meet their repayments amid soaring borrowing costs. The data was revealed by the credit agency TransUnion, which tracks more than 81 million auto loans throughout the United States. According to TransUnion,…

Trump Group CEO Devin Nunes Backs Musk’s Twitter Takeover

The CEO of Trump Media & Technology Group (TMTG), Devin Nunes, has expressed support for Elon Musk’s recent acquisition of Truth Social rival Twitter. Speaking during a new interview with NTD’s “Newsmakers,” Nunes highlighted the need to protect freedom of speech on the internet. “Here at Truth Social (a social media…

Biden Administration Trying to Quash Subpoena of Jen Psaki

President Joe Biden's administration is trying to quash a subpoena issued to former Press Secretary Jen Psaki in a case alleging the White House conspired with Big Tech to censor American citizens. Psaki is fighting a subpoena that was issued in the Big Tech censorship case, claiming she should not…

Australian Liberal Senator Urges Federal Labor to Avoid ‘Arms Race’ with China over Solomon Islands

An Australian senator is urging federal labor to avoid walking into an "arms race" with China over the Solomon Islands in the South Pacific. Liberal frontbencher, Simon Birmingham, is calling the Albanese government to avoid an arms race with Beijing. The plea from Birmingham follows the Chinese Communist Party’s counter-donation…