Sunday, August 1, 2021

U.S. Rerieves $2.3 million in bitcoin paid to Colonial Pipeline hacker

The Justice Department on Monday recovered some $2.3 million in cryptocurrency ransom paid by Colonial Pipeline Co, cracking down on hackers who launched the most disruptive U.S. cyberattack on record. Deputy Attorney General Lisa Monaco said investigators had seized 63.7 bitcoins, now valued at about $2.3 million, paid by Colonial (COLPI.UL) after last month’s hack […]

As orders grow for network equipment business Samsung puts hope on Europe 5G

Samsung Electronics (005930.KS) is banking on Europe to maintain growth momentum in its network equipment business, a senior executive said, as 5G rollout widens and industry leader Huawei Technologies of China focuses on its domestic market. Although the South Korean tech company is global No. 1 in memory chips and smartphones, in 5G network equipment […]

Biden’s US$1.9 trillion stimulus won’t be enough to reignite world economy

The economic orthodoxy has long been that governments should try to balance their books and leave all the heavy lifting in managing their economies to central banks. We saw this writ large in the years after the financial crisis of 2007-09, as most major powers pursued austerity while their central banks slashed interest rates and […]

S&P 500 resumes record run on economic rebound hopes

The S&P 500 hit a record high for the fourth straight session on Tuesday as economy-linked and tech stocks gained ground on confidence that the U.S. economy is on its path to a roaring rebound. The S&P 500 and the Dow reached record levels with the CBOE volatility index retreating to pre-pandemic lows, driven by […]