FINANCE

Russiahacj

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The US Treasury last month repelled cyber attacks by a pro-Russian hacker group, preventing disruption and confirming the effectiveness of the department's stronger approach to financial system cybersecurity, a US Treasury official said on Tuesday.

The Treasury has attributed the distributed denial of service (DDoS) attacks to Killnet, the Russian hacker group that claimed responsibility for disrupting the websites of several US states and airports in October, said Todd Conklin, cybersecurity counselor to Deputy Treasury Secretary Wally Adeyemo.

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Photo Credit:Reuters

U.S. stocks advanced on Monday, extending last week's gains as signs of economic softness suggested the effects of the Fed's aggressive policy aimed at cooling the economy, thereby curbing decades-high inflation, are beginning to take root.

All three major U.S. stock indexes gained momentum throughout the first session of a week jam-packed with high profile corporate earnings and crucial economic data.

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us Appeals

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A U.S. appeals court on Friday temporarily blocked President Joe Biden's plan to cancel billions of dollars in college student debt, one day after a judge dismissed a Republican-led lawsuit by six states challenging the loan-forgiveness program.

The 8th U.S. Circuit Court of Appeals granted an emergency stay barring the discharge of any student debt under the program until the court rules on the states' request for a longer-term injunction while Thursday's decision against them is appealed.

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AN Areial view shows

Photo Credit: Reuters

The world's largest financial institutions increased their backing of companies in the agriculture, forestry and land use sectors most responsible for deforestation in 2021, a new study showed on Tuesday.

Issued by the Forests & Finance Coalition of NGOs, which looks to improve transparency, policies, systems and regulations in the financial sector, the report found that finance to those companies rose over 60% to $47 billion between 2020 and 2021.

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Peoples are seen

Photo Credit:Reuters

An eye-popping turnaround in stocks may be less bullish than hoped for, with traders saying short-term hedging activity buoyed equities while leaving the market's grim fundamentals unchanged.

Data showing consumer prices rose more than expected in September initially sent the S&P 500 tumbling to its lowest point since November 2020 on Thursday, only for the index to mount a furious rally towards midday. In total, the index swung 5.4 percentage points on the day to close up 2.6%.

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