Asian currencies showed strength on Thursday as the dollar weakened following comments from Federal Reserve Chair Jerome Powell. The prospect of interest rate cuts by the Fed in September has put upcoming inflation data in the spotlight. Traders are closely watching the consumer price index inflation report to gauge the likelihood of a rate cut.
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In a move that could potentially shake up the pharmaceutical industry, the Federal Trade Commission (FTC) is reportedly planning to sue three major U.S. health companies for their practices as middlemen in negotiating prices for medications, particularly insulin. The agency alleges that these practices are inflating costs for patients, causing concern among consumers and industry
Hurricane Beryl’s impact on parts of Texas has not halted the upcoming bond pricing for Galveston Wharves. Despite the operational disruption caused by the storm, the port is proceeding with a $160 million revenue bond sale. The once-Category 5 storm made landfall as a Category 1 hurricane 100 miles south of Galveston, but the damage
In a recent report from Bank of America, it was revealed that nearly half of Gen Zers between the ages of 18 and 27 rely on financial assistance from their parents. This reliance on parental support highlights the ongoing struggle many young adults face when it comes to meeting the high cost of living. Moreover,
The Bank of Israel (BOI) has been exploring the idea of a digital shekel currency to enhance the country’s payments system and drive innovation. While the central bank is committed to this plan, it is unlikely to launch a digital currency before other advanced economies. Andrew Abir, Deputy Governor of the Bank of Israel, stated
The release of the June consumer price index report is expected to be a significant market event this week. Economists are predicting a 0.1% rise in CPI month over month and a 3.1% increase year over year. The core CPI, which excludes food and energy prices, is forecasted to have grown 0.2% month over month
Denver is facing a crucial shortage of affordable housing, with both long-time residents and newcomers struggling to find suitable living arrangements. The proposal put forward by Mayor Mike Johnston aims to address this pressing issue by implementing a 0.5% sales tax increase to generate around $100 million annually. This comes on the heels of a
The cryptocurrency market experienced a slight increase in Bitcoin price, following recent losses due to concerns over a potential spike in token supply. Meanwhile, Ether saw a sharp rise fueled by speculation surrounding a spot exchange-traded fund. Bitcoin, the world’s largest cryptocurrency, had been facing significant losses over the past two weeks, hitting a four-month
Dora, the revolutionary unified search and action engine for the multichain world, recently announced the successful close of a $5.5 million early stage funding round. The funding round was co-led by Dragonfly Capital and Lemniscap, with participation from Robot Ventures, Ethereal Ventures, Maven11, and Arche Capital, alongside notable angel investors such as Rushi Manche and
Bybit, the world’s second-largest web3 platform by trading volume, has recently announced its partnership with Beach, Please! – Romania’s biggest hip-hop festival. This collaboration aims to offer festival-goers a range of exclusive perks that not only enhance their festival experience but also introduce them to the world of cryptocurrency. One of the exclusive perks offered