Month: August 2024

Russian officials were ordered to delete conversations in Telegram.

The Russian Telegram channel Baza, which is closely connected to law enforcement agencies, reported that employees of the presidential administration and the Russian government, as well as staff from certain security agencies, were instructed to delete their work-related conversations in Telegram. A similar order was reportedly given to high-ranking officials in the Russian Ministry of Defense and some major businessmen. Pro-government propagandists in Russia refer to Telegram as “the main messenger of the current war” and “an alternative to secure military communication.” submitted by /u/XGramatik [link] [comments]

Bank of China President Liu resigns, chairman to be acting president

BEIJING (Reuters) – Bank of China Vice Chairman and President Liu Jin resigned for personal reasons effective on Sunday, the bank said. The state-owned lender said in a statement that its board had approved Chairman Ge Haijiao to serve as acting president. Liu, 57, has held senior roles at major Chinese banks, including ICBC[ ICBCA.UL] and China Development Bank. He served as president of China Everbright (OTC:CHFFF) Bank before joining Bank of China as vice chairman and president in 2021. https://preview.redd.it/wq9y57pfbskd1.png?width=275&format=png&auto=webp&s=75d006c0876450002700a0f080f6bb284b065758 submitted by /u/Lor1al [link] [comments]

How messed up is the US housing market?

New homes are now going for $3.50 LESS per square foot than old ones—the biggest gap since 2005. The median price per square foot for an existing home? $213.20. For a new build? Just $209.70. In the last 6 years, existing home prices have gone ballistic, skyrocketing 70%, while new home prices “only” jumped 50%. Homebuilders are throwing discounts like candy, while homeowners, stuck with their sweet low-rate mortgages, aren’t budging. With an average mortgage interest rate around 4% (despite current rates hovering at 6.5%), who can blame them? When old costs more than new, you know the market’s gone off the rails. submitted by /u/FXgram_ [link] [comments]

TON/USDT

submitted by /u/XGramatik [link] [comments]

The court sided with the SEC in the case against Kraken.

On 23 August, the court rejected Kraken’s motion to dismiss the SEC’s charges. Earlier, the regulator accused the crypto exchange of operating without a licence and violating the Securities Act. The date of the next trial is set for 15 October. https://preview.redd.it/f7fo5il1lokd1.png?width=729&format=png&auto=webp&s=cddbed6131374f69a195f484d491510f0faf65fe submitted by /u/Lor1al [link] [comments]

U.S. oil and gas production will continue to grow over the next 15 months, reaching a new record of 14 million barrels per day for oil and 1,175 billion cubic meters per year for gas, according to forecasts from the U.S. Department of Energy. The primary growth driver is the Permian Basin.

This massive field is the main source of new records in U.S. oil and gas production. The graph shows that other fields are stagnant: they aren’t even attempting to reach 2019 production levels. However, relying on the Permian comes with an obvious risk that U.S. oil companies are forced to accept. Production here is highly sensitive to price fluctuations. The graph shows that the primary impact of the 2020 cuts was felt in the Permian Basin. The second, repeatedly mentioned risk: any field will eventually run dry; the Permian cannot be drilled indefinitely. When the Permian reaches its production plateau, it will become a powerful catalyst for global oil price growth. https://preview.redd.it/c5covlfg8gkd1.png?width=1256&format=png&auto=webp&s=a1314a771cc470a5f6394f16032f3e22b5321084 submitted by /u/XGramatik [link] [comments]

Organizer of a $4 Billion Crypto Pyramid Scheme Arrested in Turkey

A Swedish citizen, Andreas Sakacs, was arrested in Turkey on suspicion of being involved in the operation of the OmegaPro cryptocurrency pyramid scheme, which was launched in 2017 and caused investors to lose approximately $4 billion. Reportedly, the tip-off to the police came from a Dutch citizen who personally lost $7 million in the project and now represents 3,000 other investors whose total investments amounted to around $103 million. OmegaPro stopped withdrawals at the end of 2022 and fully ceased operations in July 2023. The project’s capital is allegedly linked to OneCoin, one of the largest crypto pyramid schemes in history. submitted by /u/FXgram_ [link] [comments]

Eni has completed a deal to sell its oil assets in Nigeria to Oando for $783 million, marking a significant shift in the country’s oil industry.

This move follows similar asset sales by other major companies such as ExxonMobil, TotalEnergies, Shell, and Equinor, which are also divesting their onshore and offshore assets to local firms. These transactions come amid years of issues with oil spills, theft, and sabotage in the troubled Niger Delta region, which has significantly reduced Nigeria’s oil production. In July, the country’s oil output stood at 1.46 million barrels per day, well below its potential capacity of 2.2 million barrels per day. https://preview.redd.it/539hngqn9gkd1.png?width=997&format=png&auto=webp&s=dd27c6645afeb3015b32802ffa1fcd56ecfad5a7 submitted by /u/XGramatik [link] [comments]

Tether does not plan to develop its own blockchain.

The CEO of the company Paolo Ardoino told Bloomberg. According to him, there are many other good solutions on the market that are suitable for USDT stablecoin. https://preview.redd.it/6t6v0ns3chkd1.png?width=692&format=png&auto=webp&s=bdb6ede889491cd1d5efb4e9e1b47d29d05d2ddb submitted by /u/Lor1al [link] [comments]

The median asking rent in the U.S. reached $1,481 per month in the second quarter of 2024, marking a historic high.

According to the U.S. Census Bureau, median asking rent has surged by a staggering 56% since 2019. As a result, median asking rent now accounts for about 29% of the average monthly disposable personal income. In comparison, this share was significantly lower in 2019—around 24%. In other words, rent has been rising much faster than household income after taxes. Even renting a home is becoming a luxury. https://preview.redd.it/r202jt43udkd1.png?width=862&format=png&auto=webp&s=2bb649998bfae5b4bf5baef841fbd90766dcceed submitted by /u/XGramatik [link] [comments]

The Conference Board Leading Economic Index (LEI) decreased by 0.6% month-over-month, surpassing the expected decline of 0.4%.

The index has dropped 28 out of the last 29 months, marking the longest streak of declines since the 2008 financial crisis. The decline from the peak now stands at 15.3%, nearing levels seen during the recessions of the 1970s and 1980s. In the past, every time the index showed such a drop, the U.S. economy entered a recession. Is a recession looming in the U.S. economy? https://preview.redd.it/x1li3g7ltdkd1.png?width=862&format=png&auto=webp&s=4073025442695ab727ddfc3f687879a8ec1377f9 submitted by /u/XGramatik [link] [comments]