Australian property prices jumped in May
Australian home prices increased by 0.8% in May, marking the sixteenth consecutive month of increases, according to real estate consultant CoreLogic. The lack of supply has shielded prices from high interest rates, cost of living pressures, and negative consumer sentiment. State capital cities like Perth, Adelaide, and Brisbane saw prices increase by 2.0%, 1.8%, and…
Russia aimed tax on spend sources income
Russia’s proposed tax increases for corporations and the wealthy could bring in an additional $30 billion to the country’s budget revenues the following year, allowing Moscow to increase spending without jeopardizing fiscal stability. The finance ministry claims that these taxes are reasonable and aimed at the wealthiest citizens of Russia, aiming to address societal issues,…
Miners revenues drop yet mining level rises
Bitcoin miners have experienced a challenging year, with mining incentives cut in half, difficulty increasing, and new ETFs siphoning off investor capital. The two largest U.S.-listed miners, Marathon Digital and Riot Platforms, have decreased by 10% and 33%, respectively, while bitcoin has increased by 60% year-to-date to $67,859, reaching a record level in March. The…
FDIC position replacement will be announced soon
The White House may choose a candidate to succeed the current chair of the Federal Deposit Insurance Corporation (FDIC) as early as next week, as more evidence of agency failures surfaced on Friday. FDIC Chair Martin Gruenberg announced he would resign if a successor was confirmed by the Senate. Republican demands for Democratic President Joe…
Japan push public to expand capital market
Japan’s Prime Minister Fumio Kishida has emphasized asset management in a speech to international investors in Tokyo. The country’s efforts to improve business earnings and governance are beginning to pay off as the country emerges from years of deflation. The government aims to capitalize on this interest and establish itself as a major global hub…
Fed first rate cut is near end of the years
The Federal Reserve (Fed) is cautiously welcoming signs of a loosening labor market and progress in lowering inflation toward its 2% target rate. Fed Governor Christopher Waller and President of the Atlanta Fed Raphael Bostic have both expressed concerns about the timing of interest rate reductions. Waller believes that a slowdown in demand is necessary…
Brazil’s set up regulation for crypto
Brazil’s central bank has decided to divide regulation of virtual asset service providers and crypto-assets into phases, with regulatory recommendations expected by the end of this year. This decision postpones the conclusion of the 2022 statute, which allowed for later central bank regulation.
Genesis Global bankruptcy has been approved
Cryptocurrency lender Genesis Global has been approved by a US Bankruptcy Court judge to restore nearly $3 billion in cash and bitcoin to its clients, preventing its owner, Digital Currency Group, from recovering from the bankruptcy. Genesis’ Chapter 11 liquidation plan was accepted, and the court dismissed Digital Currency Group’s objection that Genesis should only…