visa

Visa and Mastercard push back on crypto services, citing the need for better regulations and market conditions

Per Reuters Visa and Mastercard have decided to push back on their decision to offer crypto services. This comes as the two companies cite the need for improvement in terms of regulations and market conditions. The information reportedly came from people that were familiar with the topic but said that

finland

Finland builds Russian barbed wire fence worth over half a billion

Per BBC Finland has started to establish a barbed wire fence on the Russian border. The fence is reportedly 124 miles long and 3 meters tall. Specifically, this will include a fence with barbed wire on top, costing the country $597 million to build. This comes as Finland is getting

The Federal Reserve is unlikely to be able to bring down inflation without having to raise interest rates considerably higher, causing a recession, per a research paper

The Federal Reserve is unlikely to be able to bring down inflation without having to raise interest rates considerably higher, causing a recession, according to a research paper with Former Fed Governor Frederic Mishkin on it. “We find no instance in which a central-[bank]induced disinflation occurred without a

FBI Director Christopher Wray has said that the Covid pandemic was probably the result of a laboratory leak in China

FBI Director Christopher Wray has said that the Covid pandemic was probably the result of a laboratory leak in China. "The FBI has for quite some time now assessed that the origins of the pandemic were most likely a potential lab incident in Wuhan,” Wray said in an interview.

Nishad Singh, former director of engineering at FTX, has agreed to plead guilty to U.S. criminal charges

Nishad Singh, former director of engineering at FTX, has agreed to plead guilty to U.S. criminal charges. In 2020, Singh tweaked FTX’s software to exempt Alameda from having its assets sold automatically if it were losing too much borrowed money, per Reuters. “Be extra careful not to liquidate,

Housing affordability in the US is near all-time-lows, per Goldman Sachs

Housing affordability in the US is near all-time-lows, per $GS. In November, nationwide, households need six-figure incomes to comfortably afford the typical home for sale, according to a report by Redfin. Last month, the nation’s home buyers needed to make about $107,000 annually, up from

Starting salaries for graduates with a bachelor’s degree in computer science are projected to drop by 4% to $72,843 for the class of 2023 compared to a year ago

Starting salaries for graduates with a bachelor’s degree in computer science are projected to drop by 4% to $72,843 for the class of 2023 compared to a year ago, per NACE. Meanwhile, software engineering and data science job listings are down 24% and 27% from last year, per

The largest US pension fund, California Public Employees' Retirement System, has only had a return of 0.49% on its VC investments

The largest US pension fund, California Public Employees' Retirement System, has only had a return of 0.49% on its VC investments, per BI. Because venture is such a risky asset class, institutional investors generally expect 25% to 30% IRR for early-stage funds, Leonard Sherman, a professor at

Binance reportedly used customer funds for its own purposes in 2022

According to Forbes, Binance, the world's largest crypto exchange, moved $1.8 billion in stablecoin collateral to hedge funds including Alameda Research, which subsequently left investors exposed, similar to FTX's downfall. More than $1 billion worth of the crypto known as B-peg USDC were left

austin

Austin's 10% home purchase deposits in 2019 only took eight years to save, but in 2022, it took 13 years

Per Go Banking Rates For an average homebuyer in Austin, Texas, to save up the 10% needed for a downpayment, it would now take longer before coming up with the amount. In 2019, they only needed to save up for eight years, but last year, the number of years they

artificial intelligence

Over half of Americans think AI poses a risk to humanity

Per CNBC As OpenAI's ChatGPT becomes extremely popular, over half of Americans think AI poses a risk to humanity. Only a tenth of participants think that AI will have a positive effect on society. The findings came from a poll held by Monmouth University, which found that 9%

watch

Top luxury watches outperformed stocks and crypto: Rolex, Patek Philippe, and Audemars Piguet

Per Bloomberg Some of the most luxurious watches were able to outperform stocks and crypto. These included Rolex, Patek Philippe, and Audemars Piguet, which only dropped by a mere 8% in 2022 compared to the S&P 500's 19% and Bitcoin's 65% drop. Eduard Aubin,

ftx

FTX's SBF gets four new charges as prosecutors said they created a no-employee company to get a bank account

Four new charges were filed against Sam Bankman-Fried, the disgraced founder of now-bankrupt FTX. The charges were related to how SBF created a company with no employees so that FTX.US could get a bank account in California. Initially, FTX couldn't get a bank account in

computer science

Computer science graduates starting salaries are projected to have a 4% decline to $72,843 compared to 2022

Per Bloomberg Graduates of computer sciences are projected to earn 4% less compared to a year ago. 2023 graduates are expected to earn just $72,843 on average. The National Association of Colleges and Employers found that there would be a 4% drop in projected earnings for 2023 graduates in

Biden is considering issuing an executive order on US-China investments

Biden is considering issuing an executive order on US-China investments, per Politico. Per Politico: President Joe Biden is expected to forego expansive new restrictions on American investment in China, denying a push by some hawks in his administration and in Congress. The order may still prohibit U.S. investments

Elon Musk has reportedly approached AI researchers in recent weeks about forming a new research lab to develop an alternative to ChatGPT

Elon Musk has reportedly approached AI researchers in recent weeks about forming a new research lab to develop an alternative to ChatGPT, per the Information. Musk co-founded OpenAI in 2015 with Sam Altman, president of startup accelerator Y Combinator, in 2015 to keep tabs on AI development and served

White House gives agencies 30 days to impose federal device TikTok ban

White House gives agencies 30 days to impose federal device TikTok ban, per CNBC. Canada recently banned it, on Feb 27, as well. "This may be a first step, it may be the only step we need to take," Justin Trudeau said. As government bans TikTok on work

Canada bans TikTok from all federal government devices

Canada bans TikTok from all federal government devices. It stated that TikTok presents an "unacceptable" level of risk to privacy and security. In December, the US Senate voted to ban TikTok from all government devices. Reportedly, Reuters states that a proposal will be included to do the same

Elon Musk is the world’s richest person again

Elon Musk is the world’s richest person again, per Bloomberg. The Tesla CEO was unseated from the top spot by Bernard Arnault, CEO of French luxury brand LVMH in December of last year, making Musk No. 2 on the list for more than two months. As of Monday, however,

Govenor Ron DeSantis has signed legislation that gives the state of Florida control over Walt Disney, $DIS, World's self-governing district, Reedy Creek

Govenor Ron DeSantis has signed legislation that gives the state of Florida control over Walt Disney, $DIS, World's self-governing district, Reedy Creek. “Today, the corporate kingdom finally comes to an end,” DeSantis said Monday at a Reedy Creek fire station in Lake Buena Vista, Florida. “There’s

An office landlord tied to money manager Pimco has defaulted on $1.7 billion of mortgage notes

An office landlord tied to money manager Pimco has defaulted on $1.7 billion of mortgage notes, per Bloomberg. The buildings — in San Francisco, New York, Boston and Jersey City, New Jersey — are owned by Columbia Property Trust, which was acquired in 2021 for $3.9 billion by funds managed

Elon Musk just announced Twitter will be making significant performance-based stock and compensation awards for remaining employees

Elon Musk just announced Twitter will be making significant performance-based stock and compensation awards for remaining employees. This is after letting go approximately 1/3 of workers, for about 2,500 remaining. In January, as well, Twitter begun applying for regulatory licenses across the US and designing the software

Gen Z workers are putting away 20% of their annual salary into their 401(k) or a similar plan

Gen Z workers are putting away 20% of their annual salary into their 401(k) or a similar plan, per Forbes. Here are the age groups and the average amount they have in their retirement savings. * Gen Z - people born from 1997 to 2012 - have a median of $33,000

credit card

To cover a $1,000 emergency expense, 25% of people would run into credit card debt, an all-time-high since 2014

Per Bankrate A recent study from Bankrate found that credit card dependency reached an all-time high of 25% of over a thousand participants in the US. The survey found that a quarter of participants would result in credit card debt for a $1,000 emergency expense. The survey polled

work

Roughly 47 million workers quit during the 'great resignation' in 2022, 80% of them said they regretted it

Per CNBC 2022 was reportedly a record year for quitting, with 47 million quitting throughout the year. A survey by Paychex found that 80% of them regretted their decision to quit their jobs. Those that quit cited different sectors that suffered from the result. * Mental health * Work-life balance * Workplace