How the FTX Crash Is Impacting African Economies

The Zimbabwean NFT artist Liam Vries signed up for an FTX account this past summer. He knew of the crypto exchange because some American friends recommended it and also through its aggressive advertising in Africa. He hoped to safeguard his crypto holdings—some of which came from the sale of his surrealist collage NFT art—while also growing it through FTX’s interest rates and …

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Financial Literacy Is the Civil Rights Issue of This Generation

In today’s rapidly evolving world, the concept of civil rights has expanded beyond traditional boundaries. While equal opportunities and social justice remain essential, there is a new frontier that demands our attention: financial literacy. Just as the Civil Rights Movement fought for equality in education, employment, and voting rights, financial literacy is the civil rights issue of this gen…

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Men Taking 6 Months Parental Leave Are ‘Losers,’ Top VC Says

Joe Lonsdale, a founder of Palantir Technologies Inc. and a prolific venture capitalist, stoked a debate on Twitter about parental leave, saying any prominent man who takes six months off with his newborn is “a loser.”

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Sam Altman Departs OpenAI

OpenAI, the company behind ChatGPT, has announced that CEO and co-founder Sam Altman will immediately leave his role leading the company and step down from its board of directors.

Altman was not “consistently candid in his communications with the board, hindering its ability to exercise its responsibilities,” leading to the board losing confidence in his ability to lead the company, a…

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‘Ernie Bot’ Demo Disappoints Investors

Baidu Inc. debuted China’s answer to ChatGPT via a recorded video, disappointing investors hoping for a real-time demo of the country’s highest-profile entry in a race to dominate transformative technology.

Billionaire founder Robin Li took to a Beijing stage to introduce his company’s “Ernie Bot,” a landmark moment for a search leader that’s struggled …

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U.S. Leisure Travel Back at Pre-Pandemic Levels

US consumers are spending less on products and more on experiences — a trend that could ease supply snags and inflationary pressures, and help the travel industry this summer.

For the first time since COVID halted movement around the world, leisure travel has returned to 2019 levels, according to a report released by the Mastercard Economics Institute. People are feeling more comfor…

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There’s Never Been a Worse Time to Buy a Home, Poll of U.S. Households Shows

The share of Americans who say it’s a good time to buy a house hit an all-time low of 25% in a monthly Fannie Mae survey.

The pandemic-era surge in U.S. housing prices, combined with increased concerns about job stability and rising mortgage rates, are deterring potential buyers from trying to purchase a home.

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World’s Biggest Bank Forced to Trade via USB Stick After Hack

On Thursday, trades handled by the world’s largest bank in the globe’s biggest market traversed Manhattan on a USB stick.

Industrial & Commercial Bank of China Ltd.’s U.S. unit had been hit by a cyberattack, rendering it unable to clear swathes of U.S. Treasury trades after entities responsible for settling the transactions swiftly disconnected from the stricken systems. That fo…

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What Will Happen If China’s Evergrande Group Collapses-

When Chinese home-buyer Zhiwei decided to purchase a luxury apartment at a development named Australia Villas back in 1997, it was billed as the apex of affluence.

Located outside China’s southern megacity Guangzhou, the sprawling complex was to have 292 buildings, including a gymnasium, spa, cinemas, and a private school. Boutiques and restaurants would dot its 2,000 acres, sales s…

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