Author: News Room

USD/CAD remains firm above 1.3550 with US CPI, Presidential debate taking centre stage. Investors see the US annual headline CPI declining to 2.6%. USD/CAD delivers a mean-reversion move to near 20-day EMA. The USD/CAD pair holds into gains near 1.3550 in Tuesday’s North American session. The Loonie asset remains firm as the US Dollar (USD) clings to gains amid uncertainty ahead of the United States (US) presidential debate and the Consumer Price Index (CPI) data for August, which will be published on Wednesday. The US Dollar Index (DXY), which tracks the Greenback’s value against six major currencies, trades close to…

Inside stories from WazirX’s victims reveal the real human toll of the hack, while experts question whether the exchange’s recovery efforts will be enough to restore trust. Table of Contents The beginning of the crisis A series of missteps WazirX’s dubious withdrawal strategy The untold stories of WazirX’s users Expert opinions: the fallout from WazirX’s missteps Legal troubles brewing for WazirX The beginning of the crisis On Jul. 18, the Indian crypto community was shaken when WazirX, the country’s largest crypto exchange, became the victim of a massive hack. Allegedly carried out by the infamous Lazarus Group from North Korea,…

When Vice President Kamala Harris and former President Donald Trump take the debate stage in Philadelphia on Tuesday night, expect them to arrive with a stockpile of talking points about the U.S. economy.In the weeks leading up to their head-to-head debate, hosted by ABC News, both Harris and Trump have unveiled new economic proposals. They have also tried to paint their rival as a threat to the health and stability of the U.S. economy.As the candidates try to frame the economy in favorable terms Tuesday, keep these key numbers in mind.Inflation and prices1.4%: The Consumer Price Index in January 2021 at…

Iran will be hit with new sanctions Tuesday for supplying ballistic missiles to Russia, Secretary of State Antony Blinken announced. Speaking at a joint news conference in London with UK Foreign Secretary David Lammy, Blinken said he expected Russia would begin using the missiles against Ukraine in the coming weeks. The new sanctions include additional measures on Iran Air, the national carrier, Blinken said. “Anyone who proves assistance to Russia … is perpetuating the war, is perpetuating the conflict,” he added. Lammy similarly called Iran’s actions “a troubling pattern” and “a significant escalation.” Blinken and Lammy said they would make…

Last year, the SEC mandated that public companies disclose material cybersecurity incidents.Cybersecurity experts explained the rule, which can be confusing for company executives.This story is part of “Security Playbook,” a series detailing cybersecurity advice and strategies. Investors consider cyberattacks one of the biggest threats to business. The incidents can cost companies millions of dollars, damage their reputations, diminish trust with investors, and affect their share prices.Though cyberattacks are occurring more frequently, investors don’t always understand their scope or how to factor them into their investing strategies, said Hugh Thompson, the executive chairman of the RSA Conference, a global cybersecurity gathering.To…

There’s a common phrase in urban China that’s embedded in the fabric of Kentucky Fried Chicken: “Crazy Thursday.”It’s become a national phenomenon in China, partly because it’s at the heart of one of the country’s most viral internet memes, where people write melodramatic stories that end with a sudden twist — a request for 50 yuan, or $7, to buy a Crazy Thursday feast.”I was fired today,” one such post reads. “I didn’t want to go to work. My performance was terrible. No one cares about me. Send me 50 yuan for Crazy Thursday.”The bizarre trend boasts over 3 billion…

By Promit Mukherjee and David Ljunggren OTTAWA, Sept 10 (Reuters) – Global trade disruptions could make it harder for the Bank of Canada to consistently meet its 2% inflation target, and it will have to balance the risks of controlling higher prices with ensuring economic growth, Governor Tiff Macklem said on Tuesday. Inflation in Canada has been consistently falling this year, pushed down by interest rates that were at a two-decade high of 5% for more than a year before the central bank cut rates three times in a row from June. Macklem said with globalization slowing, the cost of…

Investing.com — Wall Street is bracing for a potential impact on corporate earnings and the stock market if Democratic presidential candidate Kamala Harris wins the November election and follows through on her proposed tax increases. With tax policy emerging as a concern for investors, it is at the forefront of discussions leading up to the Nov. 5 vote. Republican candidate Donald Trump and Harris are in a tight race, with many investors and wealth advisers preparing for possible tax changes. Tax policy has become a major concern for investors. Of particular interest to Wall Street are corporate earnings and capital…

By Alex Lawler LONDON (Reuters) – OPEC on Tuesday cut its forecast for global oil demand growth in 2024 reflecting data received so far this year and also trimmed its expectation for next year, marking the producer group’s second consecutive downward revision. The Organization of the Petroleum Exporting Countries in a monthly report said world oil demand will rise by 2.03 million barrels per day (bpd) in 2024, down from growth of 2.11 million bpd it expected last month. There is a wider than usual split between forecasters on the strength of oil demand growth in 2024, partly due to…

Australia intends to set a minimum age limit for children to use social media, citing concerns about mental and physical health. The plan has sparked backlash from digital rights advocates who warn the measure could drive dangerous online activity underground. Prime Minister Anthony Albanese said his center-left government would run an age verification trial before introducing age minimum laws for social media this year. Albanese didn’t specify an age but said it would likely be between 14 and 16. “I want to see kids off their devices and onto the footy fields and the swimming pools and the tennis courts,”…