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CNN  —  President Donald Trump’s massive tariffs announced on dozens of nations Wednesday were pitched as “reciprocal,” matching what other countries charge the United States dollar for dollar, even taking into account non-tariff barriers like value-added taxes and other such measures. But the actual calculation the Trump administration seems to have used seems not to be reciprocal at all. Matching countries’ tariffs dollar for dollar is an incredibly difficult task, involving poring over each country’s tariff schedule and matching a complex array of products, each of which has a different charge for any variants. Instead, the Trump administration seems to…

Emirates NBD is tapping into the UAE’s booming crypto scene by integrating a cryptocurrency trading service into its Liv X digital banking app. With crypto app downloads in the UAE increasing by 41% to 15 million in 2024, according to AppsFlyer, the Emirates NBD group is leveraging its established reputation and the country’s favorable regulatory environment to capitalise on surging local interest and demand for cryptocurrency trading. GlobalData’s 2024 Financial Services Consumer Survey shows the UAE is among the top countries for cryptocurrency ownership, with 44% of consumers holding crypto, an increase from 37% the year before. Meanwhile, the percentage…

Galina Zhigalova | Moment | Getty ImagesIf you can’t file your taxes by the April 15 deadline, there’s a free, easy way to submit a federal tax extension online, experts say.  Nearly 1 in 3 American admit that they procrastinate when it comes filing their taxes, according to a January survey of more than 1,000 U.S. filers from IPX1031, an investment property exchange service. In addition, about 25% do not feel prepared to file their taxes, the survey found.As of March 21, the IRS received roughly 80 million individual returns of the 140 million expected this filing season, the agency’s latest reporting…

CNN  —  More than 275,000 layoffs were announced last month, reaching a level not seen since the pandemic, according to a new report published Thursday. The biggest culprit was one particular employer: The federal government. The federal government announced plans to axe 216,215 jobs, accounting for nearly 80% of the 275,240 layoffs announcements made by US employers in March, according to Challenger Gray & Christmas’ latest report. It’s the third-highest monthly total behind April 2020 (671,129) and May 2020 (397,016). The Department of Government Efficiency has run roughshod on the federal government, slashing funding, scrapping contracts and laying off droves…

As traditional finance (TradFi) increasingly moves into the crypto space, tension is brewing between decentralization advocates and institutional giants. Big names like Citadel Securities, Fidelity, and BlackRock are jumping in — with Citadel planning to become a crypto liquidity provider, Fidelity offering Bitcoin and Ethereum in retirement accounts, and BlackRock warning that the U.S. dollar could lose dominance to Bitcoin. Many crypto purists argue that the arrival of major financial institutions threatens decentralization, one of crypto’s core principles. “When institutions enter the space and gain control over huge portions of the market, we lose all the benefits of decentralization,” some…

Crypto exchange Kraken has registered as a restricted dealer in Canada, allowing the exchange to continue offering crypto trading services to Canadian users under the country’s evolving regulatory framework. The registration, announced on Tuesday, comes after a multi-year process that required exchanges to meet higher standards for investor protection and governance. Kraken said it worked closely with Canadian regulators during this pre-registration phase, upgrading its compliance systems and internal controls to meet expectations set by the Ontario Securities Commission (OSC). To lead its Canadian expansion, Kraken named Cynthia Del Pozo as general manager for North America. Del Pozo, a fintech…

MELBOURNE: Inco­ming Australian Olympic Comm­ittee (AOC) chief Mark Arbib hopes the 2032 Brisbane Games will persuade the nation’s talented young athletes to pursue medals over football careers. Australian Rules football and rugby league have long dominated the country’s professional sports market, offering the kind of salaries and support to young athletes that Olympic sports struggle to match. Arbib, confirmed on Wednesday as the replacement for outgoing Chief Executive Matt Carroll, said the AOC needed to compete hard against the National Rugby League (NRL) and the Australian Football League (AFL) to lure talent. “I am a big fan of the NRL…

Bitcoin hit a record high of $109,000 earlier this year, but the level of sales remains far below the peaks seen in previous cycles, according to research by on-chain analytics firm Glassnode. The study, released on April 1, highlights a trend of investors who purchased Bitcoin between 2020 and 2022 holding onto their assets, even amid significant price volatility. The data shows that buyers from this period, whose cost basis ranges from the 2020 low of $3,600 to the 2021 high of $69,000, have not been motivated to sell, even as the cryptocurrency’s price continues to fluctuate. While the share…

PARIS: Olympic 200m champion Letsile Tebogo said on Wednesday he could have become a delinquent if the sport of athletics had not given him a focus. Tebogo, who stunned the field in Paris last year to became Bots­wana’s first Olympic gold medallist in any sport, said he would take the lessons he learned from his childhood into his new role as a global ambassador for the Kids Athletics scheme. “Sport has really helped me a lot because I think without sport … probably I would be a criminal by now,” 21-year-old Tebogo told reporters on a video conference call. “In…

The cryptocurrency market could hit its lowest point within the next two months, with a 70% chance of this happening before June, according to Aurelie Barthere, principal research analyst at Nansen. The timing depends heavily on the outcome of ongoing global tariff negotiations, particularly the reciprocal import tariffs announced by U.S. President Donald Trump. These tariffs, intended to reduce the country’s trade deficit and boost manufacturing, are creating uncertainty across financial markets. Trump unveiled these measures on April 2, aiming to address a $1.2 trillion trade gap. The global markets have already shown volatility in response to previous tariff announcements,…