US

US prosecutors have launched an investigation into the bankrupt Silicon Valley Bank. The US regulator for stock exchange trading, the Securities and Exchange Commission, is also investigating the California bank that was taken over by US authorities last Friday. The Wall Street Journal reports this based on insiders. According to the business newspaper, the investigation is still in an exploratory phase, and it is far from a foregone conclusion that there will be formal accusations against SVB or its directors. Public prosecutors and the regulator often start an investigation when financial services companies run into problems. The investigation at SVB would focus on, among others, directors who sold shares a few days before the bank collapsed.

The US stock market regulator SEC fined reality star Kim Kardashian more than 1 million dollars. This is because Kardashian would have advertised a crypto coin without knowing that she was being paid for it. That is against US regulations. According to the SEC, Kardashian used social media to promote EMAX crypto coins. For this, Kardashian was paid more than $250,000 by EthereumMax, the coin provider. Kardashian must now repay the amount and interest and a $1 million fine. It also agrees to stop advertising cryptocurrencies for three years. The SEC has been warning for some time against celebrities touting cryptocurrencies. Boxer Floyd Mayweather, among others, was fined in 2018 for the same reason as Kardashian. According to the SEC, cryptocurrencies fall under the sto...

US inflation is slowing faster than expected. That is according to data from the US Department of Labor on Wednesday.   On an annual basis, inflation rose by 8.5 percent in July. That's less than the 9.1 percent recorded in June - the most significant increase in four decades. Compared to June, consumer prices remained unchanged in July. However, falling fuel and energy prices compensated for price increases for food and housing. As a result, food prices rose by 10.9 percent year-on-year. It is the biggest jump since 1979. Core US inflation - excluding volatile food and energy prices - stood at 5.9 percent yoy in July and 0.3 percent in June. Analysts at Bloomberg news agency had expected total inflation of 8.7 percent and 0.2 percent on an annual and monthly basis. They had estim...