
Russia’s GDP Decline Less Severe Than Expected, Wall Street Returns to Russia...
While the ongoing war in Ukraine continues, the Ministry of Economic Development of the Russian Federation detailed this week that Russia’s economic hardships are less severe than expected. Russia’s economic ministry says that the economy’s gross domestic product (GDP) is estimated to drop by 4.2% this year and Russia’s inflation won’t be as elevated as economists once predicted. At the same time, inflation in the U.K. topped 10% and the European Union’s inflation rate is expected to be just as high. Russian president Vladimir Putin blames the....
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Russia’s Central Bank may soon allow and regulate transactions in Bitcoin, according to a leading Moscow newspaper. In a possibly dramatic change of attitude towards cryptocurrency, the Russian Central Bank may soon allow P2P transactions in Bitcoin, as well as other operations with cryptocurrencies, according to Izvestia, one of Russia’s leading news publications. The Central Bank has historically been more open to Bitcoin than Russia’s Ministry of Finance. Next week, they will meet with financial market representatives to discuss how to approach cryptocurrency as a whole in Russia. “The....
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Wall Street is Losing Out on Recent Graduates. Wall Street is a lot more than a place in New York, it is an American institution, and the fortunes of the entire World seem to be inexorably bound to it. For generations the brightest, and most driven, students were recruited into the firms, with household names, that make up the Street. Nowadays, increasing numbers of qualified individuals are choosing the world of cryptocurrency and high technology over Wall Street. Top banks and brokerages could boast that they had found the best and brightest and at various times these bright young things....