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Wednesday, Nov 30, 2022
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British finance minister fired over economic plan crisis
Britain's Prime Minister Liz Truss announced Friday finance minister Kwasi Kwarteng was sacked due to the financial crisis caused by his plan to cut taxes through government borrowing.
The move came 38 days after Kwarteng's appointment.
Truss affirmed in a tweet the appointment of former foreign minister Jeremy Hunt as the country's finance post.
Truss will hold a news conference later in the day to cancel some points included in Kwarteng's plan, BBC reported.
On September 23, Kwarteng's plan included 45 billion Sterling of tax cuts for those whose income is over 150,000 Sterling ($170,000) yearly.
This angered MPs of the ruling party, along with the opposition parties.
This reduction led to the devaluation of the pound against dollar to its all-low rate of $1.03.
As a result, central bank of Britain had to buy long-term bonds to solve this matter.
Will Smith says bottled rage led him to slap Chris Rock at the Oscars
Will Smith has said his "bottled" rage led him to slap comedian Chris Rock on stage at the Oscars in March.
HK crypto exchange falls silent, fuelling shutdown fears
A major Hong Kong-based cryptocurrency exchange has scrubbed some of its social media presence two weeks after it halted withdrawals, fuelling fears the firm may collapse as the...
Twitter ends COVID-19 “misinformation” policy
"Effective November 23, 2022, Twitter is no longer enforcing the COVID-19 misleading information policy," the company stated on its transparency page for coronavirus misinformat...
Man Robbed After Buying 300 iPhones From Apple Fifth Avenue
An unnamed 27-year-old man who purchased 300 iPhones from Apple Fifth Avenue on Monday morning was robbed shortly after leaving the store.
Leading media outlets urge US to end prosecution of Julian Assange. Publishing war crimes is not a crime, the media outlets said.
The United States should end its prosecution of Julian Assange, leading media outlets from the United States and Europe that had collaborated with the WikiLeaks founder said on ...
Crypto co-founder Tiantian Kullander found dead in his sleep aged 30
Shock as young crypt founder dies ‘unexpectedly’ in his sleep weeks after another crypto millionaire mysteriously drowned in Puerto Rico
US bans authorizations for Chinese devices
The Federal Communications Commission (FCC) announced that it adopted new rules “prohibiting communications equipment deemed to pose an unacceptable risk to national security fr...
Weinstein drama She Said and the films taking on abusive men
The film about the original exposé of Harvey Weinstein is one of many recent works to address systemic male sexual violence – but how effective are they, asks Hanna Flint.
Wall Street’s ‘Dr. Doom’ calls crypto ‘corrupt gambling’ and rips ‘proof of reserves’ trumpeted after FTX collapse
Nouriel Roubini warned on Saturday, “Crypto is corrupt gambling where the house always & systematically front runs the retail suckers that get rekt.”
The Dabloon economy is the latest craze engulfing TikTok: from inflation and debt, to thieves and factions
TikTokers have created a giant fake economy within the app, with millions of participants, using a fabricated currency—Dabloons—and it reflects real-world events. Millions are ...
Crypto lender BlockFi files for bankruptcy after FTX implosion
BlockFi is latest company affected by FTX fallout, files Chapter 11 bankruptcy. Company's troubles go back to the spring, but the collapse of FTX was an insurmountable obstacle...
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