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Coinbase expects data breach to cost it up to $400 mn
Coinbase on Thursday said criminals bribed and duped their way to stealing cryptocurrency from its users, then tried to blackmail the exchange to keep the crime quiet. "Cyber criminals bribed and recruited a group of rogue overseas support agents to steal Coinbase customer data to facilitate social engineering attacks," the leading US cryptocurrency exchange said in a blog post.
US set to lose $12.5 bn in foreign tourism in 2025: industry
The United States is on track to lose some $12.5 billion in revenue from foreign tourists this year, a tourism industry group said Thursday, as the Trump administration has led a crackdown in immigrants. The study by the World Travel and Tourism Council (WTTC) and Oxford Economics found that the United States was the only country set to see a drop in spending from foreign tourists this year.
US retail sales little changed, signs of pullback after pre-tariff rush
Retail sales in the United States were near-flat in April, government data showed Thursday, with indications that spending is slowing after consumers rushed to beat higher prices from President Donald Trump's sweeping tariffs. Already, major retailer Walmart warned Thursday of higher prices and continued uncertainty over tariffs.
US Fed chair warns of potential for 'more persistent' supply shocks
Federal Reserve Chair Jerome Powell on Thursday warned of the possibility of "more persistent" supply shocks, as US central bankers met for talks against a backdrop of uncertainty kicked up by Donald Trump's tariff rollout.
Walmart warns of higher prices due to tariffs
Walmart on Thursday reported another solid quarter behind sales gains in the United States, but warned of higher prices and continued uncertainty over President Donald Trump's tariffs. Besides China, Walmart imports heavily to the United States from Mexico, Vietnam, India and Canada.
Rome businesses count their blessings with US pope
The election of the first US pope is a godsend to businesses in Rome, as big-spending pilgrims flocking to the Vatican are also expected to spend in the Eternal City.
'Paradigm shift': Germany says to meet Trump's NATO spending target
Germany under new Chancellor Friedrich Merz surprised NATO allies on Thursday by signalling plans to massively boost defence spending to five percent of GDP as demanded by US President Donald Trump.
Struggling steel giant Thyssenkrupp's shares slump after profit hit
Thyssenkrupp's shares slumped Thursday after it reported worse-than-expected earnings and its steel business took a fresh hit, in more bad news for the struggling German industrial titan. Once a symbol of German industrial might, Thyssenkrupp has suffered as high costs at home, falling prices for its products and fierce competition from Asian rivals hammered its traditional steel business.
EU accuses TikTok of violating digital rules over ads
The EU accused TikTok on Thursday of breaking digital rules after concluding that the Chinese-owned social media platform was not transparent enough about advertisements. Under the DSA, the world's largest digital companies must establish an advertisement library that shows information about the adverts that run on their platforms.
AFP
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