How China’s digital currency is leading the race to displace bitcoin and other cryptocurrencies

Ever since 2014, the Chinese government has led the global race to form a central bank digital currency (CBDC) with the creation of the digital yuan. Central banks across the world soon began to play catch-up and develop their own projects behind this digital technology. Seven years later, the Bank for International Settlements (BIS) estimates that 86 per cent of central […]

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Europe’s stimulus likely to keep running as economies reopen

The European Central Bank is expected to leave its stimulus efforts running at full steam Thursday — even as the economy shows signs of recovery thanks to the easing of pandemic restrictions. And that could present a challenge for ECB head Christine Lagarde. She faces a balancing act: acknowledging improving economic data without triggering a premature market reaction that anticipates […]

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EU lawmakers OK virus pass, boosting summer travel hopes

European Union lawmakers on Wednesday endorsed a new travel certificate that will allow people to move between European countries without having to quarantine or undergo extra coronavirus tests, paving the way for the pass to start in time for summer. The widely awaited certificate is aimed at saving Europe’s travel industry and prime tourist sites from another disastrous vacation season. […]

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WTO panel considers easing protections on COVID-19 vaccines

Envoys from World Trade Organization member nations are taking up a proposal to ease patents and other intellectual property protections for COVID-19 vaccines to help developing countries fight the pandemic, an idea backed by the Biden administration but opposed in other wealthy countries with strong pharmaceutical industries. On the table for a two-day meeting of a WTO panel opening Tuesday […]

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Apple previews new software for iPhone, other gadgets

Apple kicked off its second annual all-virtual developer conference with a keynote that outlined new updates to its software for iPhones and other devices. The presentation highlighted more privacy options for paid iCloud accounts and a “Find My” service that helps find errant AirPods, but included no major product announcements. The latest renovations in Apple’s $2 trillion empire come at […]

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Biden to launch task force on bottlenecks in supply chains

The Biden administration has completed a 100-day review of supply chains and will form a task force to address the bottlenecks in the semiconductor, construction, transportation and agriculture sectors. Administration officials said their goal is to increase domestic manufacturing, limit shortages of vital goods and reduce a dependence on geopolitical competitors such as China. The officials spoke on the condition of anonymity […]

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Global sting: FBI-encrypted app tricks organized crime

A global sting involving an encrypted communications platform developed by the FBI has sparked raids and arrests around the world, delivering “an unprecedented blow” to crime gangs, law enforcement authorities said Tuesday. Operation Trojan Shield involved police swoops in 16 nations. More than 800 suspects were arrested and more than 32 tons of drugs — cocaine, cannabis, amphetamines and methamphetamines […]

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Pipeline exec to face Congress as US recovers most of ransom

The chief executive of the massive fuel pipeline hit by ransomware last month is expected to detail his company’s response to the cyberattack and to explain his decision to authorize a multimillion-dollar payment when he testifies before Congress this week. Colonial Pipeline CEO Joseph Blount will face the Senate Homeland Security Committee on Tuesday, one day after the Justice Department […]

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