I’ve heard rumors of Tether being used illegally; I’ve seen court documents containing intercepted messages from a Russian money launderer promoting it to his clients; but the slaughter of pigs is the most concrete example I can find.
People all over the world are literally losing huge amounts of money to scammers. A Boston project finance attorney with terminal cancer turned in $2.5 million.
A divorced mother of three in St. Louis was conned out of $5 million.
And all the victims I spoke to told me they were told to use Tether, the same currency Vicky proposed to me.
Rich Sanders, principal investigator at crypto firm CipherBlade, says at least $10 billion has been lost to crypto-romance scams.
Chinese homeowners in cities like Shanghai are losing faith in property as a reliable store of wealth, leading to a slump in asking prices and a decline in transactions.
This loss of conviction is undermining the belief that property is a safe investment and is adding pressure on authorities to find new sources of economic growth
According to data from Centaline Group, asking prices in Shanghai have fallen for three straight months, reaching the lowest level since before China emerged from COVID-19 lockdowns. Transactions in the city have also fallen by one-third in May compared to March.
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This shift in mindset is welcomed by policymakers who want to curb speculative buying but also poses a risk of a deeper slump in the property market at a time when the broader economy is losing momentum.
Authorities may struggle to replace real estate as a key driver of growth and support for the middle class in the long run.
As a result, regulators are considering new support measures for the sector, such as reducing down payments in some areas and further relaxing restrictions for residential purchases.
The UK property market
Continues to face dismal prospects due to the recall of mortgage products and rising borrowing costs. Despite a slight increase in prices in April, figures suggest that the market slump will continue.
The author, who recently purchased real estate, discusses the paradox of property as an investment and consumer product. The emotional aspect of buying a home often overrides the logic of finances, leading to a slow and protracted correction in the real estate market.
The article suggests that investors may be better off putting their money in bank deposits than in property, due to higher returns and lower maintenance costs.
However, there are structural reasons why property prices remain high, including tax advantages and the emotional aspect of buying a home.
The author concludes that profit is not the goal of buying a home, but rather a test of its validity, and that people are driven by motives deeper than money when buying property.
Canada’s population has surpassed 40 million for the first time, and growth is expected to continue as the country welcomes more immigrants, refugees, and foreign students.
Prime Minister Justin Trudeau’s administration sees immigration as a way to expand the labor market and increase the country’s international presence.
The government has set a goal of adding half a million permanent residents each year, but arrivals hit a record one million last year.
However, critics argue that increasing immigration targets only improves economic outcomes without increasing individual living standards, since real GDP per capita has not changed much over the last decade.
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In addition, the demand for real estate in cities already experiencing housing shortages has increased barriers to home ownership and deprived many people of the market, negatively impacting international immigrants and existing residents.
The government is trying to respond to these pressures by regionalizing its immigration program and attracting people with needed skills, such as health workers and home builders.
Intel has agreed to build a new manufacturing facility in Israel as part of the US semiconductor company’s efforts to diversify its production.
The tentative agreement, announced by Israel’s Finance Ministry and Prime Minister Benjamin Netanyahu, will see Intel expand its production capacity in the country. The facility will be using to manufacture wafers, a component for which Israel has become one of Intel’s main suppliers. The new plant is expecting to start operating in 2027 and add thousands of jobs to Intel’s existing workforce in Israel.
started the week lower as investors weighed the possibility of more stimulus from China against worries about a global recession. The Stoxx 600 fell 0.5% in London, as investors looked to China’s State Council to announce new support measures for the economy after a meeting on Friday. Chemicals and construction led decliners, while telecoms outperformed. Sartorius AG fell 15% after issuing a bigger-than-expected earnings warning. The US stock market is closing today for a holiday.