Omarova lays out ‘scary scenario’ in crypto, gets pushback from senators in hearing

Saule Omarova, President Joe Biden’s , sketched out the possibility of “scary” scenarios emerging in cryptocurrency, but faced a mix of skepticism and agreement from senators on her views. During her appearance before the Senate Banking Committee on Thursday, Omarova — who is being vetted to be the next Comptroller of the Currency, which regulates the majority of the nation’s banks — voiced concerns that large tech companies could control the payment infrastructure in the U.S. if… Source link

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Cathie Wood Pulls the Trigger on These 3 “Strong Buy” Stocks

The billionaire investors stand in a league of their own. It’s not necessarily their wealth that puts them there – rather, it’s their success in the markets, in establishing themselves at the highest level of the financial world, that built their wealth. Cathie Wood, the founder and CEO of $75 billion asset manager Ark Invest, is one of Wall Street’s most influential investors due to her stock-picking power and her company’s impressive returns. Looking at the current market situation,… Source link

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IRS seized $3.5B in crypto-related fraud money this year as illicit activity multiplies

The Internal Revenue Service’s Criminal Investigations Unit (IRS-CI) seized $3.5 billion from cryptocurrency-related fraud cases over the fiscal year of 2021, according to an annual report published by the agency, underscoring how the booming sector has also sparked a rise in the illicit use of crypto. According to the IRS-CI, 93% of the total money they seized this year came from crypto-related cases, the latest sign that fraudsters and scammers have found a way to leverage the soaring… Source link

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Yandex tests servers produced in Russia

Russian internet search engine Yandex has with some partners brought out the first delivery of servers produced in Russia, reports Telecomdaily.ru. The servers will be used in data centres for the expansion of cloud platform Yandex.Cloud and supercomputers from Yandex. The servers are currently being tested on Yandex infrastructure. Source link

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How to hedge against inflation: We asked the experts

Watching inflation erode purchasing power is frustrating. From consumer products to housing and gasoline — products and services are going up in price in this inflationary environment. Yahoo Finance asked several stock market experts: How can investors hedge against inflation? These are some of the strategies they highlighted:  Equities “Equities are traditionally viewed as an inflation hedge because it is expected that a company will be able to offset rising input costs by charging more… Source link

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Google’s Australia investment could boost the nation’s A.I. scene

People gather for picnics beside the Harbour Bridge in the suburb of Kirribilli on September 19, 2021 in Sydney, Australia. Covid-19 restrictions have eased for people in NSW who are fully vaccinated. James D. Morgan | Getty Images News | Getty Images San Francisco, London, Montreal, Paris, and New York have all developed a reputation for being hotbeds of artificial intelligence research over the years. Sydney and Melbourne, Australia’s two biggest cities, have not. But that could be about to… Source link

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Yahoo marketing chief switches to TikTok

Anny Havercroft Yahoo director of brand and marketing, Anny Havercroft, has left her post to take up a business marketing leadership role at TikTok.   Havercoft spent more than four years with Yahoo, working with the business as it integrated a collection of media brands including Yahoo, AOL and TechCrunch under the… Source link

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Stock market news live updates: Stock futures open higher

U.S. stock futures opened higher Thursday night, with contracts on the Dow, S&P 500 and Nasdaq each moving to the upside. U.S. stocks closed Thursday’s session mixed, with technology and retail shares leading the S&P 500 (^GSPC) and Nasdaq (^IXIC) higher while economic data pointed to a recovering labor market.  The Dow (^DJI) slipped 230 points (0.2%), pressured by a drop in shares of Cisco (CSCO). The computer networking company posted quarterly results after the bell Wednesday that fell… Source link

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