Author: News Room

Popular decentralized exchange (DEX) platform SushiSwap has suffered more than $3.3 million in losses after a hacker exploited a bug in a smart contract.More specifically, the DEX saw its RouteProcess02 contract, a smart contract that aggregates trade liquidity from multiple sources and identifies the most favorable price for swapping coins, exploited and then distributed across various blockchain networks.”Root cause is because in the internal swap() function, it will call swapUniV3() to set variable “lastCalledPool” which is at storage slot 0x00,” crypto security firm Ancilia said in a tweet. “Later on in the swap3callback function the permission check get bypassed.”DefiLlama pseudonymous…

BERLIN -— Switzerland has instructed Credit Suisse to cancel or reduce all outstanding bonus payments for the top three levels of management and examine whether those already paid can be recovered, the Federal Council said on Wednesday. Under Swiss banking law, the Federal Council can impose bonus-related measures on a systemically important bank if it received state aid from federal funds, according to a statement. The highly unusual government move comes after a public backlash against bonus payments at the bank, which was forced into a merger with rival UBS and had to be rescued with close to 260 billion…

Alibaba Cloud, the cloud computing unit of Chinese tech giant Alibaba, announced Tuesday it will be rolling out its own ChatGPT-style product Tongyi Qianwen.Tongyi Qianwen, which possess Chinese and English language capabilities, will initially be deployed on DingTalk, Alibaba’s workplace communication software, and Tmall Genie, a provider of smart home appliances, the company said in a release.Hong Kong-listed shares of Alibaba gained further after the announcement and traded 3.12% higher. Shares of rival Baidu were down more than 4%.Stock Chart IconStock chart iconAlibaba set to release its rival to ChatGPTAt the 2023 Alibaba Cloud Summit, the company said it will…

The economist known as “Dr. Doom” is warning that the recent banking crisis could undermine the Fed’s efforts to engineer a soft landing without a recession as it tries to tamp down inflation. Nouriel Roubini, the CEO of Roubini Macro Associates and an economics professor at New York University, appeared Monday on FOX Business’ “The Claman Countdown” and told host Liz Claman that the U.S. banking system — particularly regional banks — will struggle in the near term. Claman asked if First Republic Bank’s recent announcement that it would suspend its quarterly dividend on preferred stock indicates U.S. banks and…

After a 29% rise this year, L’Oreal stock (OTCMKTS: LRLCY) looks fully valued. L’Oreal stock has risen from $72 in early January to $92 now. This marks a significant outperformance with the 7% return for the broader S&P500 index. Looking at a slightly longer term, LRLCY stock is up 55% from levels in late 2019. This can be attributed to 1. the company’s P/S ratio, which rose 20% to 6.1x trailing revenues from 5.1x in 2019, 2. a 22% rise in L’Oreal revenue to $92.4 billion, and 3. its average shares outstanding falling 5% to 2.7 billion. Our interactive dashboard,…

By David Lawder WASHINGTON (Reuters) -U.S. Treasury Secretary Janet Yellen on Wednesday will host a roundtable discussion on further steps to evolve the World Bank and other development lenders to tackle climate change and other global crises beyond a $5 billion annual World Bank lending expansion, the Treasury said. The discussion on the sidelines of the World Bank and International Monetary Fund Spring Meetings will bring together finance ministers from major shareholders and borrowing countries that will cover “ways to maintain momentum to evolve the multilateral development banks to better meet current challenges,” the Treasury said in a statement. The…

By Barani Krishnan Investing.com — The March U.S. jobs report was neither a pedestal nor wrecker ball for the bulls in gold. Futures of the yellow metal settled around the key $2,000-an-ounce level on Monday while the spot price traded not too far from there after the latest monthly report on U.S. , or NFP, showed an addition of 236,000 jobs, just shy of the 239,000 called by Wall Street’s forecasters. The March NFP number was well above the 200,000 that would have been instrumental in getting the Fed to pause in May. Annual wage gains also slowed but remained…

© Reuters. By Oliver Gray Investing.com – U.S. stock futures were trading in a tight range during Monday’s evening deals, following a mostly positive session among major benchmark indices as market participants look toward this week’s By 6:46pm ET (10:46pm GMT) , and were each trading 0.1% higher. Ahead in Tuesday’s trade, investors will be monitoring as well as speeches from the FOMC’s Harker and Kashkari, while and the are set to be released Wednesday. On the earnings front, companies including Albertsons Companies (NYSE:), Louis Vuitton ADR (OTC:), Delta Air Lines Inc (NYSE:), UnitedHealth Group Incorporated (NYSE:) and JPMorgan Chase…

The State Department on Monday designated as “wrongfully detained” Evan Gershkovich, a Wall Street Journal reporter who was arrested by Russian security services last month and held on an accusation of espionage that the Journal and the U.S. government vehemently deny.Gershkovich’s case now shifts to a State Department section — known as the Office of the Special Presidential Envoy for Hostage Affairs — which is focused on negotiating for the release of hostages and other Americans classified as wrongfully detained in foreign countries. Officials said the speed at which the designation was reached was unprecedented, as it involves a lengthy bureaucratic process that typically takes…

President Joe Biden signed legislation Monday to end the national emergency for Covid-19, the White House said, in a move that will not affect the end of the separate public health emergency scheduled for May 11. A White House official downplayed the impact of the bill, saying the termination of the emergency “does not impact our ability to wind down authorities in an orderly way.” The bill to end the national emergency cleared the Senate last month in a bipartisan 68-23 vote and passed the House earlier this year with 11 Democrats crossing party lines to vote for the joint…