Monthly Archives: November 2022

Moscow is now the fourth largest offshore trading hub for the Chinese yuan, as sanctions spur Russia’s dash to an alternative currency

Russia has been accelerating its use of the Chinese yuan to counter sweeping Western sanctions. Bloomberg Creative/Getty Images Russia is now the fourth-largest user of the Chinese yuan — after Hong Kong, the UK, and Singapore. Russia wasn’t even one of the top 15 countries for yuan usage up till May, according to Swift. The…

Krispy Kreme has exited Russia over the war in Ukraine. ‘Krunchy Dream’ is taking its place.

A Krunchy Dream cafe in Moscow. Evgenia Novozhenina/Reuters A chain of new donut shops called Krunchy Dream has sprung up in Russia, where Krispy Kreme once stood. They are owned by the Novikov Group, whose owner Arkady Novikov is Krispy Kreme’s only former franchisee in Russia. Krispy Kreme had terminated the franchise agreement following Russia’s invasion…

Kanye West said the IRS put a $75 million hold on 4 of his accounts because he owes $50 million in taxes

Ye, formerly known as Kanye West. Edward Berthelot/GC Images On a podcast on Monday, Kanye West said the IRS put a $75 million hold on four of his accounts. The rapper said he owes around $50 million in taxes.  He’s now estimated to be worth around $400 million, a massive drop for the one-time billionaire….

AWS makes Lambda cold start latency a thing of the past with SnapStart

At its re:Invent kickoff keynote tonight, AWS announced a small but important update to Lambda, its serverless platform, that tackles one of the most common issues with the service. Typically, when a function isn’t used for quite a while, Lambda will shut the virtual machine down — and despite improvements like faster Firecracker microVMs, this…

Seedstars Capital launches to support new fund managers around the world

The venture market is in the middle of a downturn, but there are still plenty of emerging fund managers. Seedstars International Ventures, the investment firm that backs high-growth startups around the world, announced today it has launched a platform called Seedstars Capital with Swiss-based investment holding company xMultiplied to help new fund managers around the…