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Business News

Location American Business News for 22 November 2022
Column: How Sam Bankman-Fried exploited the 'effective altruism' fad to get rich and con the world This would-be crypto trillionaire promised to give away his wealth, but did he ever really mean it?
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What happens when CEOs return? History has some lessons for Bob Iger and Disney So-called boomerang CEOs can be like Steve Jobs, who propelled Apple to new heights. Or they can fail to recapture the magic.
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The move allows the Democratic-led House Ways and Means Committee to obtain several years of Trump's tax records.
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Stock Futures Edge Up Ahead of Fed Speeches

Wall Street Journal - 22 Nov 2022 15:59
Stock futures ticked higher, pointing to muted gains at the opening bell in preholiday thin trading.
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Twitter lays off some sales employees after they committed to Twitter 2.0 New cuts follow mass layoffs and resignations since Elon Musk took over the social-media platform
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These Two Fraudsters Duped Crypto Investors Out of $575,000,000 - This is What Happened Two Estonian nationals have been arrested for alleged involvement in crypto-related fraud and money laundering activities worth some $575m. The two were arrested in Tallinn, Estonia, on Sunday on an 18-count indictment t...
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US Senators Ask $4.5 Trillion Investment Firm Fidelity to Reconsider Exposure to Bitcoin in Wake of FTX Implosion Three US senators asked the major financial services firm Fidelity Investments to reconsider exposing workplace retirement plans to bitcoin (BTC). Democratic senators Richard Durbin, Elizabeth Warren, and Tina Smith penn...
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Bitcoin will survive failure of 'any giant' in crypto, Samson Mow says Bitcoin cannot be destroyed by the fall of cryptocurrency giants like FTX or, hypothetically, other big exchanges, according to Samson Mow.
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Uniswap Decentralized Exchange New Privacy Policy Says Platform Will Collect User Data - Here's What's Included Major decentralized exchange (DEX) Uniswap has upgraded its privacy policy and now collects certain on-chain and off-chain data from users, a move that has attracted the ire of some members of the crypto community. Unisw...
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Foxconn Hires Chip Veteran in Diversification Drive

Wall Street Journal - 22 Nov 2022 13:15
Foxconn Hires Chip Veteran in Diversification Drive The Taiwanese contract manufacturer hired Chiang Shang-yi, a veteran with decades of experience at some of the world's biggest chip makers, to drive further expansion into semiconductors and bolster its supply chain.
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The U.K.'s Competition and Markets Authority said Tuesday that it has launched an investigation into cloud gaming and mobile browsers after an earlier report showed Apple Inc. and Alphabet Inc. have an effective duopoly ...
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Crypto Firm Genesis Struggles to Raise Fresh Capital, In Talks with Binance - Next Domino to Fall From FTX Contagion? The troubled crypto trading firm Genesis is reportedly struggling to raise fresh funds for its lending unit - and may be headed into bankruptcy. According to Bloomberg, citing people with knowledge of the matter, the com...
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Goldman Sachs strategists put together a list of companies with high ­­cash burn rates and also lofty valuations
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Ethereum Co-Founder Vitalik Buterin Discusses FTX Collapse -- Says 'Centralized Anything Is by Default Suspect' Ethereum co-founder Vitalik Buterin says many people in the Ethereum community see the FTX collapse “as a validation of things they believed in all along: centralized anything is by default suspect.” However, he warn...
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Crypto Lender Genesis Asks Binance and Apollo for Cash

Wall Street Journal - 22 Nov 2022 02:57
Genesis told clients last week that it paused lending withdrawals while it shored up cash.
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Bitcoin traders were spooked by a report that digital-asset brokerage Genesis told investors it might need to file for bankruptcy if it can't raise money.
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Indians are among thousands of educated and skilled immigrant workers laid off by US tech giants.
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Walt Disney CFO, Others, Brought Concerns to Board Over Bob Chapek CFO Christine McCarthy brought her concerns to the board after a calamitous November earnings call.
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FTX User Sues Golden State Warriors For Promoting Crypto Platform The Golden State Warriors were named in a lawsuit Monday alleging the bankrupt cryptocurrency exchange FTX used the reigning NBA champions to fraudulently promote its platform.
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Paramount Global Terminates Deal to Sell Simon & Schuster to Penguin Random House The action brings to a close a two-year effort to merge two of the largest book publishers.
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As Twitch Changes Revenue and Exclusivity Rules, New Opportunities Abound When wellness brand Liquid I.V. flowed into the gaming category with creator sponsorships on Twitch, it was entering uncharted territory in its 10-year brand history. Liquid I.V. felt its brand was endemic to gaming and ...
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Investigators: Firm that cleans meat plants employed minors A Wisconsin company that cleans hundreds of meatpacking plants nationwide is defending itself against allegations that it employed more than two dozen minors.
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