A $1 trillion crypto crash wipes out the price of Avalanche, Bitcoin, BNB, Cardano, Ethereum, and Solana. Two main cryptocurrencies Stablecoins from the crypto project Terra have gone into free fall prompting the incident of a Ponzi scheme akin to the collapse of Lehman Brothers which precipitated in 2008 financial crisis. UST created by…
Elon Musk on Wednesday night sent a letter to Twitter offering to take the company private for $41 billion, after calling it his “best and final offer”. Twitter’s board of directors met on Thursday afternoon for a careful review of the proposal. Musk turned down an offer to join the board. The Twitter board of…
Wheat that travelled along the rivers, between ports, and across seas show how cheap American grain toppled the world’s largest empires. In Oceans of Grain, University of Georgia academic Scott Reynolds Nelson reveals how the struggle to dominate these routes transformed the balance of world power. Imperial Russia in the early nineteenth century fed much of…
The Sassoons were one of the great business dynasties of the nineteenth century, as eminent as traders as the Rothschilds were bankers. Joseph Sassoon reveals the secrets behind the family’s phenomenal success, and how a handful of Jewish exiles from Ottoman Baghdad forged a mercantile juggernaut from their new home in colonial Bombay, the vast…
Police in Macau have arrested two men including Chan Weng Lin, CEO of Macau Legend Development which runs Landmark Macau, Babylon Casino and Legend Palace Casino in Macau, over alleged money laundering and illegal gambling. The move comes after the arrest in November of high-profile Macau gambling executive Alvin Chau, chairman of Macau’s biggest junket…
Christopher Leonard, the New York Times business journalist, infiltrates the Federal Reserve to show how its policies steered by Chairman Jerome Powell over the past ten years have accelerated income equality and put America’s economic stability at risk. The press credited the Fed when the economy grew and also when the economy imploded in 2008,…
In The Long Game, Rush Doshi, advisor on China in the Biden White House, draws from a rich base of Chinese primary sources, including decades worth of party documents, leaked materials, and memoirs by party leaders, to demonstrate that China is in fact playing a long, methodical game to replace America as a regional and…
UK inflation rate rises at highest in a decade at 4.2 per cent in October, amid fears over Covid recovery. Th jump, driven largely by rising fuel and energy costs, which puts further pressure on households across the UK. Demand for gas is pushing up energy prices worldwide, recovering from Covid pandemic. The shortages of…
The rise of China and the fall of Hong Kong to authoritarian rule and the outlook for freedom under the communist regime are told with complete insight in this new history by Michael Sheridan, drawing on eyewitness reporting over three decades, interviews with key figures and documents from archives in China and the West. Sheridan’s…
Financial Times journalist Robin Wiggleworth, reveals the secret history of Index Funds, bringing to life the colourful characters behind their birth, growth and evolution into a world-conquering phenomenon, a story of the most pressing financial uncertainties of our time. In 1971, an unlikely group quietly assembled in the financial industry’s backwaters, unified by the heretical…