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Barney Frank blames crypto panic for his bank’s collapse. Elizabeth Warren blames Trump.
Sen. Elizabeth Warren is now holding up Signature — and SVB — as a reason why Congress and the regulators should reverse any light-touch bank supervision triggered by the 2018 law. | Francis Chung/POLITICO The rift between Frank and Warren is just a preview of what’s...
Reverse ATMs take bills, dispense cards as stores go cashless
A "reverse ATM" at Rogers Centre, home of the Toronto Blue Jays. Photo courtesy of Wavetec As stores and restaurants attempt to go cashless, they're installing "reverse ATMs" that dispense stored-value cards in exchange for greenbacks. Why it matters: More businesses...
Why the U.S. can’t build EVs without China
Workers at a nickel electrolysis workshop on Dec. 30, 2022, in Jinchang, China. Photo: Li Yalong/China News Service/VCG via Getty Images The Biden administration's effort to spur domestic battery manufacturing is running into a problem: Some critical raw materials are...
The US case against Binance calls out one of the worst-kept secrets in crypto
If you live in America, you’re not allowed to trade crypto derivatives. And if you’re a big international platform for trading crypto derivatives, you can’t let Americans trade those products if you haven’t registered with the boring-sounding but...
Pimco-Owned Office Landlord Defaults on $1.7 Billion Mortgage
Kurt Brady / Alamy Stock Photo (Bloomberg) -- An office landlord controlled b y Pacific Investment Management Co. has defaulted on about $1.7 billion of mortgage notes on seven buildings, a sign of widening pain for the industry as property values fall and rising...
CVS digs into primary care with $9.5 billion Oak Street Health deal
Pedestrians walk past a CVS Health Corp. store in Chicago. Christopher Dilts | Bloomberg | Getty Images Key Points CVS said the value of the deal was $10.6 billion, including debt. Its per share offer of $39 represents about a 73% premium to Oak Street’s last closing...
Joe Biden’s Trade War with China is Driving a Wedge Between the US and Europe
Europe is pushing back against US demands for it to stop selling semiconductor technology to China
Goldman Sachs no longer expects recession in euro zone in 2023
The euro sign is photographed in front of the former head quarter of the European Central Bank in Frankfurt (Reuters) -Goldman Sachs said on Tuesday it expects the euro zone economy to grow by 0.6% this year, compared with its previous forecast of a contraction,...
Home sellers are basically throwing money at buyers right now
Share of home sales where the seller gave at least one concession to the buyer Home sellers are doing way more to entice homebuyers these days, according to data from Redfin published Thursday morning. Why it matters: Oh, how the tables have turned. During the...
Debt-laden Italy lashes out at ‘crazy’ ECB after rate hike
The European Central Bank (ECB) building is seen from a cafe amid Christmas decorations, before the monthly news conference following the ECB's monetary policy meeting in Frankfurt, Germany December 15, 2022. REUTERS/Wolfgang Rattay ROME/FRANKFURT, Dec 16 (Reuters) -...
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