U.S. Inflation Climbs 6.8 Percent in November 馃搱, the Highest Level in Last Four Decades

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ROI Overload is a daily radio show/video podcast show focused on the latest in trending topics in business, tech, finance and startups hosted by Scott D. Clary (@scottdclary).

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Welcome to Roy Overload daily business, tech and finance news. I'm Scott declary. This is what's making news today. US inflation climb six point eight percent in November, the highest level in the last four decades. Compromised hot wallets cost ascendex nearly eighty million dollars. China's Sense Time Postpones Hong Kong IPO after US blacklisting, and the prop text start up apptuno raises five million dollars in a seed round. Let's jump right into it's the first story of the day because Sumer price index in November has jumped at the fastest races. Nineteen eighty two is. It rose zero point eight percent and it is up six point eight percent from a year ago. The Labor Department announced December ten these kind of depressing numbers. The increase in prices and general inflation was observed across a variety of products, with food, shelter, gasoline, new and used cars seeing the biggest jump in November. Energy cost search thirty percent over last year, food cost increase six percent and used car and truck prices increase thirty one percent or over. The labor departments of the surgeon and food and energy components,...

...where the quickest twelve month gains in the last thirteen years. The last time US consumers soap pertystant price increases was in the S. inflation had increased from below three percent nineteen seventy two to more than thirteen percent in nineteen seventy nine. By nineteen eighty two, the inflation level had fallen back into single digits. For Consumers under forty years old, the recent increase in prices represents the largest inflation of their lifetime. But even as prices increase, economist spectuflation to ease in the next few months, mainly driven by declining oil prices and uncertainty over the covid nineteen pandemic. Moving over to Crypton News, a compromised hot wallet costs ascendex nearly eighty million dollars. So the cryptocurrency trading platform, a sendex suffered a loss of seventy seven million bucks as hackers got access to hot wallets and transfer tokens hosted over binance smart chains, etherium and polygone block chains. Soon after the attack, ascendex proactively informed its users that funds had been stolen. However, the company confirmed that hackers were not able to access...

...cold wallet reserves. Peck Shield, a blockchain security and data analytics company, said that an estimated sixty million dollars worth of tokens were transferred using the etherium blockchain. Nine point two million dollars worth of tokens were stolen from binance smart chain and eight point five million from Polygon blockchains. US, DC, tether and she but a new were some of the popular tokens stolen in this attack. While ASCENDEX has yet to officially confirm the exact amount of tokens taken by the hackers, it is announced that it has taken steps to reimburse all effected users, covering their losses due to the attack. So it looks like no one's going to be left short of any of their actual holdings. A China sence time postpones a Hong Kong IPO after US blacklisting. So, since time is a Chinese artificial intelligence start up, they've said that they're postponing a seven hundred and sixty seven million dollar initial probably go offering in Hong Kong after the company was blacklisted by the US over charges of genocide in Zingjang. The A I start a filed a declaration with the Hong Kong Stock Exchange, staying with...

...most bone. It's listening to safeguard the interest of its potential investors so they could consider the impact of being placed on the blacklist. Since Time said that it remains committed to complete the listing and will publish supplemental prospects and an updated listing timetable. In addition, it said that it would also fully refund those who have already invested. According to the regulatory filings, a company had plans to sell over one point five billion shares in the price range of three dollars and eighty five Hong Kong dollars to three dollars. In Ninety nine Hong Kong dollars per share from this company would have raised roughly seven hundred and sixty seven million bucks. But instead of setting its listing price, since time found itself in urgent talks with the Hong Kong Stock Exchange its lawyers to assess the future of the deal amid reports about being blacklisted. And lastly, prop text startup AP tuna verses five million dollars in a seed round. So APTUNO propt companies raised five million and it's seed Round Co led by Dallas capital and Kayak ventures. The seed round comes only eight months after the company of close a one...

...point two million dollar investment from the Ventura family office in conventures and fj labs in a preseed round. Founded in two thousand and nineteen by Christianna Pelacios, AP Tuno is a Columbia based prop text start up that provides seamless search and application experience for Latin America residential renters. The company's platform costs of time it takes for closings by roughly eighty percent and offers three times as many property choices for customers. APP tune is the next generation prop tect company that is focused on revolutionizing the burdens some property rental process across Latin America. Company also aims to build an NTENSE ilusion to make the rental process more efficient for tenants, landlords and brokerages. With the latest proceedings and investment, company will hire top tech talent across the region to continue building its product and scaling operations throughout Latin America and in other news from around the Internet. US commercial real estate faces steep costs from a flooding damage. So, according to the First Street Foundation, a nonprofit research and technology group, and Global Commercial Engineering Group, a...

...group the US commercial real estate industry may face an increasing threat from flooding, leading to billions of dollars in increased costs, which is projected to cost thirteen point five billion dollars in two thousand and twenty two. And SHABODI raises three point three million dollars in seed funding. So the Toronto based infotex startup, Shabodi, has raised three point three million in a seed funding round. The funding was led by Bloomberg capital and also saw participation from count of you. Capital Green agg ventures, maccabe ventures, seas investments, sign way ventures, shafts a ventures, may have a ventures, superno adventures and lorimer venture. anyways, that's it for today. Hope you enjoyed. If you found value in this, share this with one other person. They can go subscribe for daily business, Tech and finance news a newsletter dot ro I overloadcom. Have a great day. I'll see at the.

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