The European Central Bank (ECB) will still have to raise interest rates in the Eurozone in June and July to get high inflation under control. Indeed, inflation is proving more persistent than expected, stressed President Klaas Knot of De Nederlandsche Bank (DNB) in an interview with four major European newspapers. If a peak is reached after the increases, interest rates will have to remain at...
The supervision of the hundred largest European banks is not good enough. The European Central Bank does not take decisions quickly enough, is not consistent and is too flexible for banks that take too much risk, according to the European Court of auditors. The Court of auditors is the financial controller of the EU and looked at how things stand with the supervision of credit risks that banks...
In less than 24 hours, at least 1.6 million people visited the ’Check your hack’ Web page on the police website to see if their digital data was traded on Genesis Market. The illegal website was taken down by police on Wednesday. More than 4,200 people got some bad news. “Normally the police site has about 50,000 visitors a day, now more than 1.6 million people have already visited the...
China is outraged by the export restrictions that the Netherlands is going to impose on chip machine manufacturer ASML. That company will no longer be allowed to sell certain machines to Chinese companies from the summer. Western countries are afraid that the Chinese will use the chips that can be made with them for the production of military equipment, such as drones. A spokesman for the Chinese...
EU countries agree on better surveillance of the European Union’s external borders and other measures to reduce the arrival of migrants. The mistrust between arrival countries and destination countries has been removed. Due to the growing number of migrants, the EU countries feel the need to finally break their stalemate over the distribution of the burden of care. After the special EU...
Tuesday and Wednesday are important days for bitcoin (BTC) and the overall crypto industry. On Tuesday, Sam Bankman-Fried (SBF), ex-CEO of the bankrupt FTX, will attend the hearing of the US House of Representatives and testify about the collapse of his empire. Also, the Federal Reserve (Fed), the US central bank, will announce the monthly results of the Consumer Price Index (CPI) on Tuesday. On...
Gas prices have again dropped sharply in New Jersey and around the country as demand remains slow and supplies continue to increase. Gas prices have again dropped sharply in New Jersey and around the country as demand remains slow and supplies continue to increase. AAA Mid-Atlantic says the average price of a gallon of regular gas in New Jersey on Friday was $3.49, down 14 cents from last week...
The Chinese state-owned shipping company Cosco is allowed to take an interest in a large container terminal in the port of Hamburg. The German government has given its consent. The Chinese government has bought more and more interests in European logistics in recent years, including in the port of Rotterdam. Cosco has a 24.9% stake. That is less than the 35 percent that the company initially...
Stock markets around the world ended the week with significant losses. In New York, the Dow Jones Industrial Average fell 1.6 percent from a day earlier, to its lowest level since the end of 2020. Fears of a recession have been pushing prices down for weeks. That fear is compounded by recent interest rate hikes and the new UK government’s budget plans announced today. Investors are worried...
On the sidelines of the regional security summit in Samarkand (Uzbekistan), Russian president Putin and Indian Prime Minister Modi will meet later today. Since the Russian invasion of Ukraine at the end of February, trade between Russia and India has more than doubled. In particular, India has increased imports of cheap Russian oil. The government in New Delhi is not happy about the Western...