The Bank of England and the Treasury said this week that they will work together to assess the benefits of a central bank digital currency, at a time when cash payments are generally on the decline, partly as a result of the coronavirus pandemic.
The bank said the new currency if it comes to pass, would be a new form of digital money for use by households and businesses and would exist alongside cash and bank deposits, rather than replacing them.
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GUCCI DIGITALLY OUTFITS GEN-Z IN METAVERSE FORAY WITH ROBLOX
Anyone whose virtual alter ego is wandering around the Roblox online game platform these days might run into other avatars sporting Gucci handbags, sunglasses or hats.
JUST HOW VULNERABLE IS THE INTERNET?
An outage at a little-known firm that speeds up access to websites knocked a lot of top internet destinations offline this week, disrupting business and leisure for untold millions globally. The problem was quickly resolved. The company, Fastly, blamed a configuration error in its technology.
US DROPS TRUMP ORDER TARGETING TIKTOK, PLANS ITS OWN REVIEW
The White House dropped Trump-era executive orders that attempted to ban the popular apps TikTok and WeChat and will conduct its own review aimed at identifying national security risks with software applications tied to China, officials said this week.
iOS 15: CONNECT, FOCUS, EXPLORE, AND DO MORE
After making some significant leaps forward with iOS and iPadOS in 2020, it was only right that this year’s updates would be more understated, but it didn’t stop Apple from announcing some exciting new additions to its popular operating systems.
JEFF BEZOS WILL BLAST INTO SPACE ON ROCKET'S 1ST CREW FLIGHT
Outdoing his fellow billionaires in daredevilry, Jeff Bezos will blast into space next month when his Blue Origin company makes its first flight with a crew.
EUROPEAN REGULATORS LAUNCH FRESH PROBES OF FACEBOOK, GOOGLE
European Union and British regulators opened dual antitrust investigations into whether Facebook distorts competition in the classified advertising market by using data to compete unfairly against rival services.
GLOBAL STING BEGAN BY CREATING MESSAGE SERVICE FOR CROOKS
When the FBI dismantled an encrypted messaging service based in Canada in 2018, agents noticed users moving to other networks. Instead of following their tracks to rivals, investigators decided on a new tactic: creating their own service.
ENERGY CHIEF CITES RISK OF CYBERATTACKS CRIPPLING POWER GRID
ENERGY CHIEF CITES RISK OF CYBERATTACKS CRIPPLING POWER GRID
GLOBAL GLITCH: SWATHS OF INTERNET GO DOWN AFTER CLOUD OUTAGE
Dozens of websites went down briefly around the globe Tuesday, including CNN, The New York Times and Britain’s government home page, after an outage at the cloud computing service Fastly, illustrating how vital a small number of behind-the-scenes companies have become to running the internet.
CARBON DIOXIDE LEVELS HIT 50% HIGHER THAN PREINDUSTRIAL TIME
The annual peak of global heat-trapping carbon dioxide in the air has reached another dangerous milestone: 50% higher than when the industrial age began.
Go Big or Go Home
Joe Biden tackled Covid and an economic crisis in his first 100 days. It won’t get easier from herea
Stopping the Race to the Bottom on Taxes
The U.S. is energizing a global effort to put a floor under corporate tax rates
The New Market Next Exit
Investors are struggling to work out what a recovery from the pandemic means
Federal Debt: A Heavy Load
The debt continues to grow, but record-low interest rates could ease the long-term damage.
HOW BAD IS THE HACK THAT TARGETED US AGENCIES?
Governments and major corporations worldwide are scrambling to see if they, too, were victims of a global cyberespionage campaign that penetrated multiple U.S. government agencies and involved a common software product used by thousands of organizations.
Golden Present
Memories of Gold Dollars for the Holidays
US LAYOFFS REMAIN ELEVATED AS 898,000 SEEK JOBLESS AID
The number of Americans seeking unemployment benefits rose last week to 898,000, a historically high number and evidence that layoffs remain a hindrance to the economy’s recovery from the pandemic recession that erupted seven months ago.
American Winner
TREASURY SECRETARY STEVEN MNUCHIN EMBODIES THE PLUTOCRATIC PRINCIPLE THAT A CRISIS IS A TERRIBLE THING TO WASTE
MAJOR AIRLINES INE UP TO SPLIT $25 BILLION IN PAYROLL AID
The Treasury Department said this week that the nation’s major airlines have tentatively agreed to terms for $25 billion in federal aid to pay workers and keep them employed through September.
Make It Rain
Jay Powell’s Fed is reaching beyond Wall Street with lending programs for companies big and small