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Powell says he can’t guarantee a ‘soft landing’ as the Fed looks to control inflation Posted by: superadmin - 05-13-2022, 02:32 PM - Forum: Business, Economy and Investment - No Replies Fed Chairman Jerome Powell cautioned Thursday that getting inflation under control won’t be easy. “Nonetheless, we think there are pathways ... for us to get there,” he said in an interview with Marketplace published Thursday. Federal Reserve Chairman Jerome Powell warned Thursday that getting inflation under control could cause some economic pain but remains his top priority. Powell said he couldn’t promise a so-called soft landing for the economy as the Fed raises interest rates to tamp down price increases running near their fastest pace in more than 40 years. “So a soft landing is, is really just getting back to 2% inflation while keeping the labor market strong. And it’s quite challenging to accomplish that right now, for a couple of reasons,” the central bank chief said in an interview with Marketplace. He noted that with a tight labor market pushing up wages, avoiding a recession that often follows aggressive policy tightening will be a challenge. - More -   More than $200 billion erased from entire crypto market in a day Posted by: superadmin - 05-13-2022, 02:29 PM - Forum: Business, Economy and Investment - Replies (1) More than $200 billion erased from entire crypto market in a day as sell-off intensifies The price of bitcoin plunged below $26,000 on Thursday, hitting its lowest level in 16 months. Ether, the second-biggest digital currency, tanked below $2,000 per coin. The collapse of stablecoin terraUSD has led to fears of a broader market contagion. Bitcoin fell below $26,000 for the first time in 16 months, amid a broader sell-off in cryptocurrencies that erased more than $200 billion from the entire market in a single day. The price of bitcoin plunged as low as $25,401.29 on Thursday, according to Coin Metrics. That marks the first time the cryptocurrency has sunk below the $27,000 level since Dec. 26, 2020. Bitcoin has since pared its losses and was last trading at $28,569.25, down 2.9%. Ether, the second-biggest digital currency, tanked to as low as $1,704.05 per coin. It’s the first time the token has fallen beneath the $2,000 mark since June 2021. Ether was last down 8.8% at a price of $1,937.88. Investors are fleeing from cryptocurrencies at a time when stock markets have plunged from the highs of the coronavirus pandemic on fears over soaring prices and a deteriorating economic outlook. U.S. inflation data out Wednesday showed prices for goods and services jumping 8.3% in April, higher than expected by analysts and close to the highest level in 40 years. - More -   Gombak voters turn to Federal Court to restore suit against Azmin Posted by: superadmin - 05-12-2022, 03:29 PM - Forum: Politics - No Replies PUTRAJAYA: Ten voters who filed a lawsuit against Gombak MP Azmin Ali for alleged breach of fiduciary duty have gone to the Federal Court to set aside a Court of Appeal decision to strike out their legal challenge. Lawyer N Yohendra said the 10 filed nine questions of law two days ago to obtain leave from the apex court to hear the merit of their appeal. Applicants must satisfy the court by framing novel legal and constitutional questions that are of public importance and raised for the first time as required under Section 96 of the Courts of Judicature Act. Among the questions sighted by FMT was whether an action for deceit or breach of fiduciary duties can be maintained by voters against an MP or assemblyman elected by voters. - More -   Is China Crazy? Still Zero Covid Policy? Posted by: superadmin - 05-12-2022, 02:51 PM - Forum: Covid-19 Pandemic - No Replies   Lecture on Inflation and The Dying Dollar by Dr Tan Kee Wee Posted by: superadmin - 05-12-2022, 11:23 AM - Forum: Business, Economy and Investment - No Replies   Apple is no longer the world’s most valuable company Posted by: superadmin - 05-12-2022, 10:26 AM - Forum: Business, Economy and Investment - No Replies Oil giant Saudi Aramco is now the world’s most valuable company. It surpassed Apple on Wednesday.  Oil giant Saudi Aramco on Wednesday surpassed Apple as the world’s most valuable firm. Aramco’s market valuation was just under $2.43 trillion on Wednesday, according to FactSet, which converted its market cap to dollars. Apple, which fell more than 5% during trading in the U.S. on Wednesday, is now worth $2.37 trillion. - More -   Party-hopping is for the benefit of the people, says Hamzah Posted by: superadmin - 05-12-2022, 09:57 AM - Forum: Politics - Replies (2) PETALING JAYA: Bersatu secretary-general Hamzah Zainudin today defended party-hopping as an acceptable action and that it was made in the interest of the people. According to a report in Sinar Harian, Hamzah said party-hopping occurs at both the grassroots and leadership levels of parties. “Even former prime minister Dr Mahathir Mohamad did it. It is for the public’s benefit, not the individual,” he said, adding that party-hopping was a norm and had been happening for years. Bersatu has not made clear what is the party’s official stance on the anti-party hopping issue but many of its MPs had been reluctant to support the anti-party hopping bill which was deferred on April 11. Saying “let bygones be bygones”, Hamzah said it was unnecessary to bring up the events of the last three years, a reference to the collapse of the Pakatan Harapan government. - More -   Ukraine risks sliding into a debt trap under US lend-lease act Posted by: superadmin - 05-11-2022, 11:43 AM - Forum: Politics - No Replies Who is the war machine in today's world? What Moscow and Washington did on Monday could offer clues.    Although Russia is in a war with Ukraine, President Vladimir Putin did not mention "Ukraine" once during his speech at the Victory Day celebrations in Moscow.  He stressed Russia's security concerns but avoided inflammatory remarks that could fuel any dangerous escalation of the situation. In contrast, the Joe Biden administration on Monday made no secret of its intention to fan the flames and prolong the conflict. It urged the Congress to quickly approve a $33 billion supplemental aid bill for Ukraine before the Pentagon runs out of funds to send weapons from its stockpiles to the war-torn country by the third week of May, while at the same time, President Biden signed into law a lend-lease act that will expedite the process of sending military aid to Ukraine.  - More -   NATO Has Nothing To Do With China? Too Naive! Posted by: superadmin - 05-11-2022, 11:20 AM - Forum: Politics - No Replies   Chinese ‘God Wei’ mathematical genius showcases talent by solving problem in 1 night Posted by: superadmin - 05-10-2022, 07:49 PM - Forum: Inspiring Stories - No Replies Chinese ‘God Wei’ mathematical genius showcases talent by solving problem in one night that stumped team of PhDs for months The assistant professor at Peking University provided the team of PhDs with equations that helped them build a model He only accepted a recharge of his transport card for payment A Chinese mathematical genius nicknamed “God Wei” showcased his extraordinary talent when he solved a vexing problem in one night that had stumped a team of six PhD mathematicians for four months. According to online screenshots posted on May 6, the doctorate mathematicians had been struggling to build a mathematics model for months and called Wei Dongyi, a 30-year-old assistant mathematics professor at Peking University in Beijing, for help. The team adjusted their experiment according to the equations sent by Wei a few days later, and the pass rate of the new model was over 96 per cent, indicating that the model was successful. Overjoyed, the team offered to pay Wei for his work to show their appreciation, but he rejected their offer, saying, “It’s unnecessary to pay me for such an easy problem”. - More - Pages (1342): « Previous 1 … 845 846 847 848 849 … 1342 Next » Jump to page: