Starting with the lofty goal of competing with traditional banks, cryptocurrency lending giants and their clients now face financial ruin due to their appetite for risk and a paucity of regulatory guardrails.. The devastating sequence started with the sharp decline of cryptocurrencies, including bitcoin which lost nearly 60 percent of its value in the past six months.
US airlines are bracing customers for what will probably be another bumpy holiday weekend as the industry struggles to manage a surge in travel demand that probably exceeds its current capacity. . In an effort to steer passengers away from "potentially challenging weekend travel days," Delta Air Lines announced Tuesday it would waive change fees for customers to shift one leg of their trip to within the July 1-8 period.
The United States on Thursday blocked a US-based company worth more than $1 billion linked to Russian oligarch Suleiman Kerimov, saying the ally of President Vladimir Putin used it to funnel and invest shadowy funds.. The action comes weeks after Fiji handed to the United States a $300 million superyacht linked to Kerimov, who has been under US sanctions since 2018 over alleged money laundering and his role in the Russian government.
The US Supreme Court ruled Thursday that the government's key environmental agency cannot issue broad limits on greenhouse gases, sharply curtailing the power of President Joe Biden's administration to battle climate change.. "Whatever else this court may know about, it does not have a clue about how to address climate change."
European Commission chief Ursula von der Leyen said Thursday the EU and New Zealand had sealed a free trade deal after four years of talks, promising it would deepen ties.. "This is a historic moment in our cooperation," von der Leyen told reporters at a joint press statement with New Zealand's Prime Minister Jacinda Ardern, adding that the deal had come after "tough negotiations".
California firefighters ended up using a water-filled pit to douse stubborn flames in a Tesla's battery compartment earlier this month, illustrating the distinct difficulties in battling electric vehicle blazes. . - Risk of 'thermal runaway' - Investigators were working to figure out what caused the fire that took some 4,500 gallons of water to douse, but said there was no indication humans had sparked the blaze.
A key US inflation measure showed price increases held steady in the 12 months ended in May, while consumer spending growth slowed sharply, a good sign in the battle against soaring prices.. - Slower spending - The signs of consumers pulling back will weigh on second quarter GDP growth, after the Commerce Department revised first-quarter consumer spending sharply lower, cutting it to 1.8 percent from 3.1 percent, as the economy contracted 1.6 percent.
Production has been halted in the world's biggest chocolate plant, run by Swiss giant Barry Callebaut in the Belgian town of Wieze, after salmonella contaminations was found, the firm said Thursday. . Swiss group Barry Callebaut supplies cocoa and chocolate products to many companies in the food industry, including industry giants such as Hershey, Mondelez, Nestle or Unilever.
Salmonella bacteria have been discovered in the world's biggest chocolate plant, run by Swiss giant Barry Callebaut in the Belgian town of Wieze, the firm said Thursday.. Swiss group Barry Callebaut supplies cocoa and chocolate products to many companies in the food industry, including industry giants such as Hershey, Mondelez, Nestle or Unilever.
Samsung Electronics became the first chipmaker in the world to mass produce advanced 3-nanometre microchips, the company said Thursday, as it seeks to catch up with Taiwan's TSMC. The new chips will be smaller, more powerful and efficient, and will be used in high-performance computing applications before being put into gadgets such as mobile phones.. The vast majority of the world's most advanced microchips are made by just two companies -- Samsung and Taiwan's TSMC -- both of which are running at full capacity to alleviate a global shortage.
