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South Korea joined NATO’s cyber defense group on May 5, becoming the second East Asian country after Japan to join the group. South Korea’s top spy agency, the National Intelligence Service (NIS), said it had been admitted as a “contributing participant” to the NATO Cooperative Cyber Defense Centre of Excellence (CCDCOE) in Tallinn, Estonia. The CCDCOE’s mission is to support NATO in the field of cyber defense research, training and exercises covering the focus areas of technology, strategy, operations and law. It was established in 2008 on the initiative of Estonia, in response to alleged Russian cyberattacks in 2007 which targeted Estonian banks, government offices and media outlets after Estonia’s relocation of a Soviet-era World War II monument and war graves. “Cyberthreats are cau...

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LONDON: Most cryptocurrencies have a major problem with price volatility, but one sub-category of coins is designed to maintain a constant value - stablecoins. As cryptocurrency prices plummeted this week, with bitcoin losing around a third of its value in just eight days, stablecoins were supposed to be isolated from the chaos. But an unexpected collapse in the fourth-largest stablecoin TerraUSD, which broke from its 1:1 dollar peg, has brought the asset class under renewed attention. Here's what you need to know: WHAT ARE STABLECOINS? Stablecoins are cryptocurrencies designed to be protected from the wild volatility that makes it difficult to use digital assets for payments or as a store of value. They attempt to maintain a constant exchange rate with fiat currencies, for example t...

April is Financial Literacy Month and CNBC is featuring advice from our contributors and frequent guests. Here's how they think about financial literacy and its impact on their lives and future generations of American consumers, savers and investors. Noah Kerner is the co-founder and CEO of Acorns, a micro-investing app that helps users save and invest their money. Kerner, who graduated with a degree in economics from Cornell University, learned about money — and that all people should learn about money from an early age — when he was 17 and working as a bank teller. "I went through all this training to learn about how to properly serve customers and explain money to customers and help them manage their money, and that educational experience, for me, was unbelievably important and invalua...

After getting rejected from more than 15 medical schools, 29-year-old Charlie Chang decided to start his own online teaching and content creation business. In 2014, I was fresh out of college and thought I had my life all planned out: Go to medical school, get a six-figure job as a doctor, and make my parents proud. None of that worked out. I realized I hated blood and needles, and got rejected from more than 15 medical schools. My parents weren't so happy. From 2014 to 2019, I took on tutoring side hustles, did some modeling gigs, started a drop shipping business, and even worked as a real estate agent. But nothing was consistent in earning me a steady income stream. After several business attempts, I finally found something that worked: Posting financial advice on YouTube, Instagram and...

Markets rallied Thursday (May 5) after the US Federal Reserve played down chances of a huge interest rate hike in the near future, while oil extended gains as the European Union moved to ban imports from Russia. US central bank officials announced an expected half-point lift in borrowing costs - the biggest since 2000 - as part of its battle to rein in inflation, while unveiling a timetable to offload its vast bond holdings. However, traders were given some much-needed cheer when Fed boss Jerome Powell said a 75 basis-point rise, which had been flagged by many observers, was not "not something the committee is actively considering". While he flagged more 50-point hikes to come, the news fuelled a rally on Wall Street, where all three main indexes piled on around 3 per cent thanks to a s...

JAKARTA :Indonesia's central bank intends to review its normalisation plan for monetary policy in May to June, and wants to assess any risks to the inflation outlook if the government changes energy prices and subsidies, Governor Perry Warjiyo told Reuters. Central banks in some more advanced economies have started to tighten monetary policy to fight soaring inflation as the war in Ukraine pushes energy and food prices up and exacerbates global supply chain problems. Bank Indonesia (BI) has pledged to keep interest rates at record lows until it sees signs of pressure on core inflation and has previously said interest rate levels would only be reviewed in the third quarter. In an interview on Monday, Warjiyo said that when fiscal policymakers meet with parliament's budget committee to re...

Southeast Asian leaders will this week head to Washington DC for a summit with US President Joe Biden, here seen participating virtually in the previous ASEAN Summit from the White House in Washington DC in October 2021. Nicholas Kamm | Afp | Getty Images In the midst of the Ukraine war which is Washington's top foreign policy priority, President Joe Biden is hosting Southeast Asian leaders in Washington — signaling U.S. commitment to the region where it is engaged in a tussle for dominance with China. Some critical issues — like the post-Covid economic revival, climate change and the Myanmar coup — will be on the table at the two-day meeting starting Thursday. Leaders from the Association of Southeast Asian Nations (ASEAN), a bloc of 10 countries that together make up the world's seventh...

In April, employers added 428,000 jobs and wages grew by a solid 5.5% year-over-year. For some currently enrolled college students, that may be too good to resist. And yet, these days there are plenty of good opportunities for job seekers, with or without a degree. A college education is considered the ticket to a better career and higher pay. Students are choosing to earn over learn right now. "And you really shouldn't blame them, right? It's a smart, prudent business decision for them at this moment, which is, if their salaries are doubled and tripled, why not take that money and give more hours and take fewer classes or no classes," Rosensweig said. They're taking fewer classes so they can work more hours and some are unenrolling altogether, he said. "Students are choosing to earn...

The Securities and Exchange Commission is in the process of setting new requirements for corporate environmental disclosure, and that could have a major impact on a large number of U.S. companies that today disclose nothing at all about their environmental or climate impact. A new study by Just Capital found that one-third of Russell 1000 companies make no environmental disclosures. The report looked at 13 environmental metrics, which include performance outputs like greenhouse gas emissions, water usage, and recycled waste, as well as policies like climate commitments. On average, a Russell 1000 company discloses about three data points, with the largest companies disclosing about three times as many as the smallest companies, according to the report. For the 13 individual data points t...