The Federal Reserve is asking major US banks for details about their exposure to private credit following a surge in redemptions from the funds and a rise in troubled loans in the industry, according to people with knowledge of the matter. The queries by Fed examiners are intended to assess the level of stress in […]
After nearly 10 days in space, complete with a historic loop around the moon, the four astronauts on NASA’s Artemis II mission faced their most dangerous moment yet: not in deep space, but in the final 13 minutes of their journey home. “It’s 13 minutes of things that have to go right,” said NASA’s Artemis […]
Economists Mariana Mazzucato and Rosie Collington argue that consultants can, at best, give dubious guidance, and at worst, exacerbate government and private sector dysfunction. In their book The Big Con: How the Consulting Industry Weakens Our Businesses, Infantilizes Our Governments, and Warps Our Economies, the economists argue consultants emerged in a post-Ronald Reagan era of […]
NASA spent months engineering the perfect menu for the Artemis II mission. And the menu is surprisingly tasty: barbecued beef brisket, broccoli au gratin, vegetable quiche, five types of hot sauce, and way, way more. Because bread is banned in space (crumbs can damage precision instruments), there are 58 tortillas. There are cashews and almonds, […]
Jeff Bezos may be the world’s third-richest man, but his official salary is still less than six-figures. The 62-year-old Amazon founder is worth $254 billion, less than only Tesla CEO Elon Musk and Google cofounder Larry Page, according to the Bloomberg Billionaire Index. Yet, during nearly his entire 25-year tenure as CEO of the top […]
Especially in this economy, one place you don’t want to find yourself in is debt. Life is expensive enough without hemorrhaging money in interest charges. Still, it’s a situation that’s becoming increasingly common. If you’re one of the many looking for an escape from the heavy burden of debt, give these proven strategies a try. The first step to getting out of debt To be sure, […]
In late March, photos began appearing online from FBI Director Kash Patel’s past. One photo showed him with a cigar in his mouth. In another, he’s holding a baby. The photos were released as part of a cyberattack on Patel’s personal email that released more than 300 messages dated between 2010 and 2019, as well […]
After the U.S. and Iran agreed to a temporary ceasefire on Tuesday, the Islamic Republic pledged to open up the Strait of Hormuz, the narrow body of water that’s a key bottleneck in the world’s trade of oil. But there’s a catch: Iran signaled it plans to impose toll ships passing through the chokepoint—and have […]
WLFI, the native token of the Donald Trump-backed crypto platform World Liberty Financial, cratered to an all-time low on Friday as investors digested news reports that the company had lent out tokens on a platform tied to one of its executives. As of mid-day, WLFI was trading at $0.08, a roughly 82% drop from its […]
Treasury Secretary Scott Bessent and Fed chair Jerome Powell reportedly convened Wall Street leaders on Tuesday in an emergency meeting on concerns about Anthropic’s latest AI model, flagging concerns about a greater cybersecurity risk. Bessent and Powell assembled the group of high-powered execs at the Treasury’s headquarters to ensure banks were aware of the cyber […]
