06 Jul 2022

China’s real estate crisis deepens as big Shanghai developer defaults

A new Chinese developer has defaulted on its debt, another blow to the real estate sector in China. The Shanghai-based Shimao Group failed to pay the principal and interest on a $1 billion bond that was due on Sunday. The bond didn’t have a grace period for the principal.  This

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01 Apr 2022

Citi Sees Metaverse Economy as Large as $13T by 2030

Citi is the latest Wall Street player to issue a bullish forecast for web3 and the metaverse, which describe a future vision for the internet built around decentralized technologies and virtual worlds. The metaverse economy could be an $8 trillion to $13 trillion total addressable market by 2030, Citi said in

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28 Mar 2022

Utah Becomes Latest US State to Pass a Data Privacy Law

This month, Utah became the latest state to pass a landmark data privacy law. The Utah Consumer Privacy Act (UCPA) will take effect in two years and apply to organizations that boast an annual revenue of $25 million or more that conduct businesses in Utah or produce products and services

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14 Mar 2022

Assessing the Current Risks to the U.S. Economy

Before Russia’s Feb. 24 invasion of Ukraine, the outlook for the U.S. economy was stressed but hopeful. Pandemic pressures appeared to be peaking, inflation was widely expected to normalize, and the Fed stood a credible chance of engineering a “soft landing.” But an enormous humanitarian atrocity in Europe has triggered an

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08 Feb 2022

Peloton CEO John Foley to Step Down, Firm to Cut 2,800 Jobs

Peloton Interactive Inc. PTON 18.87% plans to replace its chief executive, cut costs and overhaul its board after a slowdown in demand caused the once-hot bike maker’s value to plummet. Peloton co-founder John Foley, who has led the company for its entire 10-year existence, is stepping down as CEO and

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06 Dec 2021

Quality in, quality out: how to get a machine learning platform humming

Machine Learning is often presented as the cutting edge of what we can currently achieve with technology. A lot of innovation and progress is coming from the fields of data science and machine learning, but a lot of the language around the topic is filled with jargon and is aimed

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02 Nov 2021

Yahoo Pulls Out of China, Ending Tumultuous Two-Decade Relationship

Yahoo Inc. has stated that it will cease to offer its services in China starting on November 1, citing an increasingly challenging business and legal environment. This marks the latest foreign company to be caught up in Beijing’s strict rules for businesses. Yahoo has become the second well-known US technology

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22 Sep 2021

China Evergrande veers toward default — and a $300 billion global shock

Real estate tycoon Xu Jiayin and Evergrande, the company he founded in 1996 are coming under fire for it’s $300 billion in liabilities. Evergrande, one of China’s largest developers, would collect debt to fund expansions, and became too financially risky for the authorities to ignore. China’s central bank ordered the

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22 Jul 2021

Assassinated Haitian President Jovenel Moïse Clashed With Some Business Magnates

New reports have emerged that the late Haitian President Jovenel Moïse regularly clashed with powerful oligarchs and business magnates. Mr. Moïse allegedly blamed the individuals for the state of the impoverished nation. In March, Mr. Moïse may have called the powerful individuals out, stating that corrupt oligarchs were the source

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04 Jan 2021

Ticketmaster fined $10 million after staff hacked competitor to ‘choke off’ presale ticket business

Ticket vendor Ticketmaster has been fined $10 million after allegations that staff hacked a rival company’s systems proved to be true. According to those familiar with the incident, Ticketmaster was aiming to “choke off” their rival’s presale ticket business. Ticketmaster’s platform allows customers to purchase tickets for events such as

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