Tag Archives: Pain

U.S. government agencies and American companies are bracing for potential Russian cyberattacks in the wake of Russia’s invasion of Ukraine and the imposition of U.S. sanctions. Russia has struck before — notably with its hack of the Colonial Pipeline, which cut off 45% of the fuel supply to the East Coast last May. Cybersecurity experts are warning of hits to infrastructure providers that could disrupt power supplies or other necessary services. One expert, a former executive at the… Source link

Markets sold off on Monday amid worries about Chinese property giant Evergrande’s massive debt load, and one expert warns that there is more agony coming for anyone connected to Evergrande. “There’s going to be a lot of pain — almost everybody involved with this is going to get a chunk taken out of them, if not worse,” Leland Miller, CEO of China Beige Book, told Yahoo Finance (video above). Evergrande currently has over $305 billion in liabilities, and some worry about the potential risks… Source link

(Bloomberg) — China injected more cash into its banking system in a sign authorities are seeking to avert a funding squeeze amid a seasonal rise in financing demand and the intensifying debt crisis at China Evergrande. The People’s Bank of China added 90 billion yuan ($14 billion) of funds on a net basis through seven-day and 14-day reverse repurchase agreements on Friday, the most since February. Today was the first time this month it added more than 10 billion yuan short-term liquidity… Source link

Bloomberg Old-School Tycoons of Hong Kong Are Losing to China’s Moguls (Bloomberg) — The prediction was vintage Jack Ma, as provocative as it was prescient.“This is the era of the internet,” the Chinese billionaire proclaimed in October 2013, just weeks after his plan to take Alibaba Group Holding Ltd. public in Hong Kong had been scuttled by regulators. “It no longer belongs to Li Ka-shing.”Ma’s dig at the famed Hong Kong tycoon raised plenty of eyebrows at the time, but few… Source link

(Bloomberg) — Turkey’s cryptocurrency investors were dealt another blow at the end of a dismal week after a second big exchange collapsed in as many days and its chief executive was reportedly detained. Vebitcoin has halted operations citing deteriorating financial conditions, and Demiroren News Agency said its Chief Executive Ilker Bas and three other employees have been detained. The Financial Crimes Investigation Board has blocked Vebitcoin’s accounts and opened a probe. Vebitcoin is… Source link