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Top News Stories

Business · New York

Dow drops 1,100 points for its biggest decline since 2020 as the sell-off this year on Wall Street intensifies

36% Left coverage: 31 sources
Investors are calling for a three-quarter-point rate hike at the conclusion of the Fed's June meeting. The Dow shed more than 1164 points, or 3.6%, its biggest loss since 2020. The broader market lost 4%, putting the S&P 500 on the precipice of bear market territory. The Fed could hike rates to 5% by the time it ends the current bout of tightening.See the Story
Europe · Washington

IMF says economy faces ‘perhaps its biggest test’ since WWII

36% Center coverage: 19 sources
More than 30 countries restricted trade in food, energy and other key commodities, IMF managing director Kristalina Georgieva said. The G20 should also improve its common framework for dealing with debt restructuring to help deal with vulnerabilities, the officials wrote. The costs of further disintegration would be enormous across countries, they said.See the Story
US & Canada · Washington

With China in focus, Biden makes $150 million commitment to ASEAN leaders

55% Center coverage: 11 sources
US President Joe Biden starts a two-day summit with the 10-nation Association of Southeast Asian Nations (ASEAN) in Washington on Thursday. His administration hopes the efforts will show the countries that Washington remains focused on the Indo-Pacific. In November alone, China pledged US$1.5 billion in development assistance to ASEAN countries over three years.See the Story
Business · Beijing

U.S., Japan, Australia, and India to launch tracking system to monitor illegal fishing by China

45% Center coverage: 9 sources
U.S., Japan, Australia, and India will unveil a maritime initiative at the Quad summit in Tokyo to curb illegal fishing in the Indo-Pacific. The initiative will use satellite technology to create a tracking system for illegal fishing from the Indian Ocean to the South Pacific by connecting surveillance centers in Singapore and India.See the Story
Soccer

Britain set to approve Abramovich's sale of Chelsea - source

75% Center coverage: 4 sources
Britain set to approve sale of Chelsea to consortium led by Todd Boehly, source says. British government demanded assurances that owner Roman Abramovich will not benefit from the sale. Abramovich put the club up for sale in early March following his country's invasion of Ukraine. The London club earlier this month announced the 4.25 billion pound ($5.2 billion)See the Story
Tech

Binance promoted terra as ‘safe’ investment before $40bn collapse

Coverage: 2 sources
Binance touted a lending program on the messaging platform Telegram on April 6. The scheme would see customers stake Terra tokens for a yield of 20%. The fall of Terra USD, an algorithmic stablecoin, saw investors lose upwards of $40 billion. Binance later updated a website that the message linked to with a statement that added crypto trading "is subject to high market risk"See the Story

Should you invest in drinks NFTs?

100% Center coverage: 1 sources
A beginner’s guide to booze’s new cryptocurrency Wild WestSee the Story
Cryptocurrency

FT: $40bn crypto collapse turns Korea against the ‘Lunatic’ leader

100% Center coverage: 1 sources
See the Story
JP Morgan

Banks turn to blockchain in search for high-quality trading assets - TLDR: JP Morgan has created a blockchain that's handled over $300 billion in repo markets using smart contracts

100% Center coverage: 1 sources
See the Story

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