The U.S. Federal Reserve held interest rates steady on Wednesday and signaled it is still leaning toward eventual reductions in borrowing costs, but that cuts could be delayed as recent inflation numbers have strayed further from its two per cent target. Indeed, Fed Chair Jerome Powell said it was likely to take longer than previously expected for Fed officials … Read more
B.C.’s director of civil forfeiture has filed an unexplained wealth order in an attempt to seize a quarter-million dollars in cash, 45 gold bars, luxury watches and jewelry that were contained in a safety deposit box belonging to the co-founder of a notorious B.C.-based cryptocurrency exchange scam. Documents filed in B.C. Supreme Court say the items are the proceeds … Read more
U.S. consumer prices increased solidly in February amid higher costs for gasoline and shelter, suggesting some stickiness in inflation that could delay an anticipated June interest rate cut from the Federal Reserve. The consumer price index (CPI) rose 0.4 per cent last month after climbing 0.3 per cent in January, the Labour Department’s Bureau of Labour Statistics … Read more
Canada’s big five banks are potentially misleading investors with their use of terms like sustainable finance, according to a complaint to securities regulators by a climate advocacy group. Banks are using the term “sustainable finance” too broadly and not backing up the claims with data, Investors for Paris Compliance said in its submission Tuesday to … Read more
After a head-spinning and bizarre chain of events, U.S. financial regulators have formally approved new bitcoin exchange-traded funds. The move is being heralded as a landmark moment in the history of cryptocurrency and its acceptance into mainstream financial markets. In its approval announced on Wednesday, the Securities and Exchange Commission (SEC) expressed its long-standing discomfort with cryptocurrencies. … Read more
The U.S. Securities and Exchange Commission (SEC) said Tuesday afternoon that a social media post saying it had approved a spot bitcoin exchange-traded fund (ETF) was false and its account had been compromised. A post on X, formerly known as Twitter, said that the SEC had granted approval for bitcoin ETFs on all registered national securities exchanges and … Read more
A man in the southwestern Chinese province of Sichuan has been arrested for spreading rumours about the stock market amid a crackdown by law enforcement on acts that undermine the country’s fragile economic recovery. A 30-year-old man in Chengdu, the capital of Sichuan and a commercial hub, was detained over suspicions he used news about … Read more
A proposed class-action lawsuit against 23andMe could include more people in Canada than originally anticipated, experts say, after the genetic testing company said a data breach affected millions more customers than initially believed. A statement from the company on Tuesday said hackers have gained access to roughly 6.9 million profiles on the site — nearly half its … Read more
