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STATESIDE: US political landscape evolves into a kind of three-ring circus
A kind of three-ring circus is evolving in Washington, New York and in other centres around the US. Two of the rings are located overseas. The other one is at the center of political life in America, and it does not bode well for Donald Trump and the Republican Party he has come to dominate.
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FTX Bahamas: ‘Best deal to avoid asset extinction’
FTX’s Bahamian liquidators are asserting the settlement with their US adversary “represents the best deal” possible given that lengthy legal battles would slash creditor recoveries “possibly to extinction”.
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BPL: From ‘dramatic savings’ to sky-high bills in three years
Bahamas Power & Light (BPL) has gone from “dramatic savings” on its fuel costs that have been hailed by the Inter-American Development Bank (IDB) to sky-high electricity bills in just three years.
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Fred to investors: 'Pay your fair share or look elsewhere'
The Progressive Liberal Party's (PLP) chairman has demanded that foreign investors "pay your fair share or look elsewhere" in response to push back over the Government's various new tax and revenue-raising measures.
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Over 90% say public corruption ‘frequent’
Renewed demands for greater government transparency were sparked yesterday by research showing over 90 percent of Bahamians believe nepotism, cronyism and corruption is “frequent” among politicians and public officials.
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WORLD VIEW: The fallacy of ‘President’ Juan Guaidó is now over
THE pretender, Juan Guaidó, is now finally gone. The myth that he was the President of Venezuela and had the capacity to act and speak for the country, has now evaporated.
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PETER YOUNG: New vision revealed for British foreign policy
AS another year comes to an end and people anticipate a new one, it is traditional to look forward with optimism to better times, both for the lives of individuals and in relation to global affairs.
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Lessons learned
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The collapse of the FTX crypto exchange, and the controversy swirling around its founder, Sam Bankman-Fried (SBF), have plunged the crypto market into an existential crisis.
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Crypto exchange giant FTX collapses, files for bankruptcy
NEW YORK (AP) — It took less than a week for FTX to go from the third-largest cryptocurrency exchange in the world to bankruptcy court.
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PETER YOUNG: Calm returns to Britain with new face at helm
ALL too often it can be a challenge to determine what to include in this weekly column that may be of interest to readers at any given time.
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Water crisis
I would like to write about a crisis we are and probably will experience sometime in our lives. Something many of us take for granted, that of water availability and purity. There are 37 nations globally who are experiencing extreme water stress today. Seven of these nations are Caribbean. Water Resource Groups estimate that by 2030, if no action is taken, with the projected population and economic growth rates, water demand will out pace globally supply by 40%.
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‘WE’RE IN FOR A ROUGH RIDE’: PM urges people to be frugal with inflation on rise
PRIME Minister Phillip “Brave” Davis is urging Bahamians to be frugal with their spending habits due to rising inflation, saying it appears that the country is “in for a rough ride for another few months” based on the predictions of finance experts.
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Press secretary: Ask retailers about food costs
PRESS secretary Clint Watson says he wants Bahamians to question retailers and wholesalers on how certain relief measures implemented by the government to lower food costs have been passed on to consumers to lessen the impact of rising inflation.
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Get ready to pay more at the store
SUPER Value owner Rupert Roberts says the prices of items such as rice, cooking oils, tomato products and evaporated milk will see an increase in the coming weeks.
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Coalition calls for more effort to stop spills
A COALITION of environmental groups while praising the fast response to the July 20 oil spill at Great Exuma, called for improved spill prevention and preparedness as well as increased transparency in matters of this kind.
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PETER YOUNG: From the summit of success to now being shown the door - it’s all over for Boris
“ALL political careers end in failure”. Those were the memorable words of Enoch Powell, who was a leading right-wing Tory, and some say a contrarian and a maverick politician, of the 1960s and beyond. It is a fair bet that some of the older generation in Britain will have recalled this famous dictum when watching Prime Minister Boris Johnson’s resignation statement outside No 10 Downing Street last Thursday as he stood down from what he called “the best job in the world”.
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Super Value transport budget up 47% as gas prices strike
Super Value’s principal yesterday said shoppers have “cut back drastically” on luxury items to make every dollar count, while revealing the supermarket chain’s own transportation budget has soared 47 percent.
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The Fed’s latest conundrum
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OVER the last six months, inflation fears have focused the attention of policymakers, economic agents and investors. Central banks have tilted towards a more hawkish stance, while headline-grabbing rises in the cost of living came to dominate the media narrative. In the markets, dynamics shifted dramatically. Risk appetite evaporated, stocks tumbled and bonds were sold.
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Super Value slashes inflation impact 20%
Super Value’s principal says he does “not expect” The Bahamas to be hit by the baby formula shortage afflicting the US, while the supermarket chain’s buying strategies have reduced food inflation’s impact by 15-20 percent.
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What Next for Cryptos?
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As the era of cheap money comes to an end, so do the conditions that propelled the price of Bitcoin and other crypto assets to the dizzying highs reached at the end of last year. At the time of writing, Bitcoin was trading just above $27,000, a drop of more than 60 percent from all-time maximum of almost $69,000 touched last November.
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