Author: News Room

Watch Alex Marquardt’s report on the sting operation on Erin Burnett OutFront on Monday, April 10, at 7 p.m. ET. A team of South Korean spies and American private investigators quietly gathered at the South Korean intelligence service in January, just days after North Korea fired three ballistic missiles into the sea. For months, they’d been tracking $100 million stolen from a California cryptocurrency firm named Harmony, waiting for North Korean hackers to move the stolen crypto into accounts that could eventually be converted to dollars or Chinese yuan, hard currency that could fund the country’s illegal missile program. When…

Ndow Darboe was jubilant when Gambia’s opposition leader Adama Barrow ousted the country’s autocratic president Yahya Jammeh, sharing the widespread view that it would usher in an era of renewal after decades of dictatorship. But in the six years since Barrow took office, Darboe and many other Gambians have become disillusioned by their president’s failures to confront the west African nation’s deep economic and social challenges. “People are suffering,” said Darboe, a farmer from the coastal town of Serekunda.Barrow’s victory and the removal of Jammeh — who initially refused to step aside — was Gambia’s first constitutional transfer of power…

Palantir Technologies Inc. (NYSE:PLTR) stock has lost its post-earnings luster, as we cautioned investors to “be fearful when others are greedy” in our previous update. As such, we believe it’s opportune to assess whether the current buy levels are appropriate for investors who waited patiently for the momentum surge to dissipate as bottom fishers likely took profit. IGV/QQQ price chart (monthly) (TradingView) Software or SaaS stocks represented by the iShares Expanded Tech-Software Sector ETF (IGV) have not followed through with Nasdaq’s (NDX) (QQQ) outperformance since the start of 2023. The QQQ’s outperformance has been driven by the surge in semiconductor…

Watch full video on YouTube

Watch full video on YouTube

Bitcoin (BTC), the leading cryptocurrency in the world, dropped to the $28,000 level from the $28,300 level on Thursday. Bitcoin’s previous upward rally slowed after gaining 20% in March, its biggest month since January. Bitcoin reached a high of $29,173 in March, but it was a short-lived spike. In the meantime, the Ethereum price dropped from $1,941 to $1,870 on Thursday. However, it increased by 10.6% in March and by 56% this year. Although, traders seem to be hesitant to place any strong bids in BTC as investors awaited the release of the US non-farm payroll data, which is set to be…

The Arkansas House of Representatives passed a bill on Wednesday that would require social media companies to verify their users’ ages and confirm that minors have permission from a parent or guardian before opening an account. The bill, dubbed the Social Media Safety Act, was passed by an overwhelming vote of 82-10, according to a tweet from the House account, and adds to the swell of efforts by state and federal lawmakers to regulate social media platforms and protect children online. The legislation now moves back to the Senate, which passed an earlier version of the bill, for the approval…

More than a decade after a U.S. mortgage meltdown threatened to destroy the international financial system, a “Big Short” investor once again sees financial disaster brewing in the real estate market.Dave Burt, CEO of investment research firm DeltaTerra Capital which aims to help clients manage climate risk, was one of the few skeptics who recognized the housing market was on the brink of collapse in 2007.He helped two of the protagonists of Michael Lewis’ bestselling book “The Big Short” bet against the mortgage market in the lead-up to the 2008 global financial crisis. As it turned out, they were right…

Short sellers were sitting on more than $7 billion in profit from the mass sell-off of bank shares by the end of March, their largest windfall since the global financial crisis in 2008, according to data firm Ortex.The collapse of Silicon Valley Bank and the emergency rescue of Credit Suisse by domestic rival UBS headlined a chaotic month for the global banking sector.Fears of contagion sent shares tumbling across the U.S. and Europe, and the losses were compounded by further monetary policy tightening from the U.S. Federal Reserve.Short selling is the practice of borrowing an asset and selling it on…

While 81% of middle-income survey respondents said they expected a recession this year, 62% said they are planning to or have already taken measures to face these challenging economic times, according to a recent survey. For many that has meant taking control of their debt, Primerica’s fourth quarter 2022 Middle-Income Financial Security Monitor said. Thirty-nine percent of respondents said their top goal for this year was to pay off debt and 37% said they wanted to keep debt manageable.Despite concerns over inflation and a pending recession, 53% of respondents said they felt optimistic about their finances heading into 2023. Only 15%…