Finance

Key Fed Inflation Indicator Shows PCE Stagnation Amid Economic Uncertainty

The most recent data from the Federal Reserve's preferred inflation measure indicated that prices remained unchanged in October compared to the previous month, prompting concerns about whether progress toward the central bank's 2% target has stalled.

The core Personal Consumption Expenditures (PCE) index, which excludes food and energy costs and is closely monitored by the Fed, increased by 0.3% from the previous month in October, matching Wall Street's expectations and the September reading.

TECH

China Lures Tech Talent with Job Offers, Sparking Concerns in the West

Last fall, executives at Zeiss SMT, a company that manufactures critical components for the world’s most advanced semiconductors, received unsettling news. Headhunters from Huawei Technologies, the Chinese tech giant, were attempting to lure its employees away.

Staff members with access to valuable Zeiss expertise reported receiving LinkedIn messages, emails, and phone calls from Huawei representatives, offering compensation packages that were up to three times their current salaries to join the Chinese firm, according to sources familiar with the matter.

CRYPTO

Bitcoin Price Bet Worth $15 Trillion Helps Halt Crypto Market Decline

Bitcoin's price has plunged to nearly $90,000 per coin, down from close to $100,000 on Monday. This sharp correction has erased approximately $200 billion from the total $3.2 trillion cryptocurrency market.

With rumors of a potential major disruption in the Bitcoin market next year following a leak, traders are anxiously watching to see how much further the price could drop. Crypto billionaire Michael Novogratz has cautioned that it could fall to $80,000 before recovering.