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Last updated: March 11, 2024 11:03 EDT | 2 min read Decentralized finance (DeFi) protocol Unizen has taken swift action in response to a recent security breach that resulted in the loss of approximately $2.1 million in user funds. Following the compromise, Unizen pledged to reimburse affected users who lost up to $750,000, aiming to restore confidence in its platform and uphold its commitment to user protection.Defi Platform Unizen Faces $2.1 Million Loss in Unauthorized Access Security Breach Dear unizen community, After an arduous weekend, we have made the strategic decision to make over 99% of those affected from our community…

A chart picking up steam this week on social media might give parents of younger kids pause: Young adults who first owned smartphones in elementary school reported much worse mental health in adulthood than those who got the devices later in their teens.The survey made me glad that, as a millennial, I’m part of the last generation that had a comparatively low-tech childhood.I used a flip phone in middle school and into high school to remind my parents to pick me up from practice. T9 and a limited text plan relegated my tween after-school chatter to the only good social…

Last week may have marked a pivotal moment in this bull market cycle, and it is not because the S&P 500 finished lower for the week for only the third time in the past 19 weeks. On the contrary, there was an abundance of good news. A stellar jobs report for February showed continued job creation alongside softer wage growth for a labor market that is gradually cooling. That is what we need to maintain the disinflation trend that leads to a soft landing and the beginning of an easing cycle by the Fed. As a result, the probability in…

Unlock the Editor’s Digest for freeRoula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter.Latin America’s biggest development bank plans to increase lending by about $112bn over the next decade, pushing up annual loans by almost half following an increase to its firepower and internal reforms.The Inter-American Development Bank on Sunday won board approval for the moves at its annual meeting in the Dominican Republic, including sweeping changes under which it will focus on fewer, bigger loans and measure outcomes more rigorously.The additional lending capacity will come from a $3.5bn capital increase for the bank’s private…

On GPS: Has Biden’s Israel-Gaza policy failed? Fareed discusses the Biden administration’s response to the war in Gaza with Susan Glasser, staff writer at The New Yorker, and Ian Bremmer, founder and president of the Eurasia Group. Read the full article here

Investing.com — Oil prices settled lower Friday, wrapping up the week with a loss as concerns about oversupply persist just investors weighed up a mixed U.S. monthly jobs report that did little to influence expectations on a rate cut as soon as June.   By 14:30 ET (19.30 GMT), the futures fell 1.2% to settle at $78.01 a barrel and the contract dropped 1.1% to $82.08 a barrel. Both benchmarks fell more than 1% on the week.  Rate-cut bets unchanged after mixed U.S. jobs report  The U.S. economy added more jobs than expected last month, as rose by 275,000 in February, increasing…

By Timour Azhari BAGHDAD (Reuters) – The Central Bank of Iraq (CBI) has revoked the operating licence of Iran’s largest bank, Bank Melli Iran, citing international sanctions and the bank’s limited operations in Iraq, a CBI document verified by two CBI officials shows. Bank Melli Iran did not immediately respond on Thursday to a Reuters request for comment on the contents of the document, which was dated Jan. 31, 2024. “In light of the losses accrued by your branch in Iraq and its limited activities and its inability to implement or expand banking activities and … its inclusion in international…

Whether you’re trying to get rich quickly or slowly, there are a plethora of playbooks out there about saving, investing, real estate, business building, and side hustles for you to follow. While there is certainly plenty of advice that is garbage—especially on the get-rich-quick front—there are many, many paths to financial success. That is, if you define financial success as accumulation. Once you’ve got a lot, you’ll also find plenty of strategies for optimally parting with your money. You can ladder, bucket, annuitize, exchange, reverse mortgage, take profits, spend, give concentrated securities, and otherwise dispossess yourself of all (and more)…

The Federal Reserve has grabbed a lot of attention the past couple of years and for good reason: Investors are pinning their hopes on the central bank’s monetary policy to beat down inflation and softly land the red-hot U.S. economy. But another part of the economic equation — fiscal policy directed by the White House and Congress — is about to nab some of that spotlight as the fall presidential election approaches. How the two forces work together will determine where the economy and markets go next. First, let’s define these two wonky terms. Fiscal policy refers to how the government generates…