News
Hard Numbers: US economy down, Bennett picks up his tab, no ransom in Nigeria, South Koreans spy for North
Paige Fusco
1.4: US economic growth shrank by 1.4% year-on-year in the first quarter of 2022, the first contraction since the pandemic began. Bad news for President Biden, but a recession can still be avoided if Americans keep spending, hiring remains strong, and wages keep pace with inflation.
7,400: Israel's PM Naftali Bennett says he'll pay for his own meals from now on after running up a $7,400 monthly food tab covered by taxpayer money. Bennett, a self-made millionaire who still lives in his private residence, claims to spend three times less per month than his predecessor Bibi Netanyahu, famous for his lavish lifestyle.
15: Nigeria has updated its terror law in a bid to fix its kidnapping problem. Anyone who pays a ransom now faces a minimum 15-year sentence, and abductors who kill now face the death penalty.
2: Two South Koreans have been arrested for allegedly passing secrets to the North. The pair — a crypto CEO and an army officer — are accused of sharing login details for South Korea's joint military command in exchange for a hefty payday in Bitcoin.Ian Bremmer sits down with Ivan Krastev, Chairman of the Centre for Liberal Strategies and political scientist, to discuss Hungary's consequential upcoming election and what it means for the far right globally.
A new US regulatory framework sets clear rules for stablecoins, defining issuer responsibilities and laying the groundwork for consistent federal and state oversight. With guardrails in place, stablecoins are shifting from crypto experiment to payment infrastructure. Explore the stablecoin framework with Bank of America Institute.
See: “Raphael: Sublime Poetry at the Met.” The first Raphael retrospective ever mounted in the US is running through June 28 at the Met Museum.
Forty-eight countries have officially qualified for the World Cup, after Iraq booked the final spot with its win against Bolivia on Tuesday.