Bank of America Expects the Fed to Keep Hiking Rates Until ‘Point of Pain’ for Consumer Demand
Bank of America has warned that the Federal Reserve will have to keep raising interest rates until it finds “the point of pain for consumer demand.” Expecting a slowdown in consumer demand to “lead to an outright recession,” the bank’s economist cautioned that “additional Fed hikes would also mean more pain for the interest-sensitive non-consumer sectors such as housing.” Bank of America’s Economic Warning Bank of America senior...
ISP Grande Wants Judge to Overrule Jury’s $47 Million Piracy Liability Verdict
Last fall, several of the world’s largest music companies including Warner Bros. and Sony Music prevailed in their lawsuit against Internet provider Grande Communications. The record labels accused the Astound-owned ISP of not doing enough to stop pirating subscribers. Specifically, they alleged that the company failed to terminate repeat infringers. The trial took more than two weeks to complete and ended in a resounding victory for...
The Sketchy Plan to Build a Russian Android Phone
Amid isolating sanctions, a Russian tech giant plans to launch new Android phones and tablets. But experts are skeptical the company can pull it off. Powered by WPeMatico
Digital Assets Under Management 5.25% Higher in February — Grayscale Still ‘Most Dominant Player’
The value of digital assets under management (AUM) for digital asset investment products in February rose to $28.3 billion, the highest number recorded since May 2022, according to Cryptocompare stats. The increase came against the background of rising U.S. Securities and Exchange Commission (SEC) enforcement actions against crypto industry players. Bitcoin and ethereum continue to account for the lion’s share of the digital assets...
Warren Buffett-Backed Neobank Nubank Launches Own Currency Nucoin
Warren Buffett-backed Nubank, a Brazil-based neobank that debuted crypto trading options back in May 2022 on its platform, has announced the launch of nucoin, its own cryptocurrency. Part of the first batch of the currency, issued on top of Polygon’s network, will be issued to its customers as an airdrop, and for cashback purposes. Nubank Launches Nucoin Cryptocurrency Warren Buffett-backed Nubank, one of the biggest digital neobanks...
