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The Governor of the Bank of Korea said it remains to be seen whether the AI boom will push up the policy neutral interest rate.The Governor of the Bank of Korea stated that core and overall inflation in South Korea are expected to remain above target for some time. The bank will maintain a tight monetary policy stance until inflation falls back to the target level.German government officials have stated that Irelands proposals regarding the EUs fiscal framework are unacceptable; Germanys contribution will increase from €40 billion annually to over €60 billion. Spending must be cut across all sectors.On October 13th, it was reported that on October 10th, the National Energy Administration conducted a survey in Beijing on power supply security for the Fifth Plenary Session of the 20th CPC Central Committee. The survey team, led by Chief Supervisor Liang Changxin, visited key power supply sites to inspect the operation of power equipment and emergency preparedness. The team emphasized that all relevant units must raise their political awareness, tighten and implement power supply security responsibilities, and firmly establish a bottom-line mentality; they must meticulously implement power supply security and prevention measures, improve power supply plans and emergency response plans for key sites, and ensure safe production and cybersecurity; they must strictly adhere to duty schedules, promptly report and handle any emergencies, and make every effort to ensure a reliable power supply during the plenary session.October 13th - Apple (AAPL.O) will launch a series of new products and upgrades to existing ones this week, but investors are uncertain whether these new offerings can drive further gains in the stock, which is among the most valuable in the market and has been largely stagnant for the past few months. Apple will hold a smart home product launch event on Tuesday, showcasing the Apple Smart Doorbell and thermostat. Later this month, the company also plans to launch a touchscreen MacBook and a new iPad mini. In addition, pre-orders for the new foldable iPhone Duo will begin on Friday. This product represents the biggest design change in the history of Apples most profitable device, and its price will be correspondingly high. This product launch is crucial for Apples stock price. In late July, driven by news of its entry into the smart home market and market acceptance of Apples strategy to avoid large-scale artificial intelligence spending, Apples stock price hit an all-time high, but has remained largely flat in the following months.

FTX’s Bankman-Fried signs extradition papers as Wednesday hearing looms

Eric Stanberg

Dec 21, 2022 15:38

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FTX founder Sam Bankman-Fried has signed legal papers paving the way for his extradition from The Bahamas to the United States, where he faces fraud charges over the cryptocurrency exchange’s collapse, a Bahamas official said on Tuesday.


Doan Cleare, The Bahamas’ acting commissioner of Corrections, told Reuters the documents were signed around noon on Tuesday. A hearing in Bankman-Fried’s case will take place on Wednesday at 11 a.m. EST (1600 GMT), a court official told Reuters.


Wednesday’s proceeding could set the stage for the 30-year-old cryptocurrency mogul to depart the Caribbean nation, after several days of confusion about the status of Bankman-Fried’s extradition.


A U.S.-based lawyer for Bankman-Fried did not respond to requests for comment. A person familiar with the matter said Bankman-Fried intends to consent to extradition. Bankman-Fried has acknowledged risk management failures at FTX, but has said he does not believe he has criminal liability.


A spokesman for the U.S. attorney’s office in Manhattan declined to comment.


Bankman-Fried was arrested last week in The Bahamas, where he lives and where FTX was based, after a grand jury sitting in Manhattan federal court indicted him for allegedly stealing customer funds to plug losses at Alameda Research, his crypto hedge fund.


He initially told a Bahamas court he would contest extradition, but Reuters and other outlets reported over the weekend that he would reverse his decision.


During a court hearing on Monday at which Bankman-Fried appeared, his local defense lawyer Jerone Roberts said he had not been informed of the purpose of the proceeding. He later said that while his client had seen an affidavit laying out the charges against him, he wanted to access the complete indictment before agreeing to extradition.


Earlier on Tuesday, Roberts declined to comment as he departed Magistrate Court in capital Nassau. U.S. embassy officials earlier entered the courthouse, a Reuters witness said, but Bankman-Fried was not seen on Tuesday.


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