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Business News

Location American Business News for 24 Nov 2022

Sam Bankman-Fried stillThe former FTX CEO said he will be speaking at a conference by The New York Times, the same outfit that wrote the recent "puff piece" on Bankman-Fried.
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Semafor under fire for notSemafor is under fire for not returning the disgraced FTX founder's investment.
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US Lawmaker: FTX CollapseU.S. Congressman Tom Emmer says the FTX meltdown is not a crypto failure but a failure with SEC Chairman Gary Gensler, former FTX CEO Sam Bankman-Fried, and centralized finance. “We need to get... to the bottom of this. We need to understand why Gary Gensler and the SEC were not doing their job,” the lawmaker […]
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A court in Germany has announced that the accounting fraud trial of former Steinhoff CEO Markus Jooste will start early next year.
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Long Lines Persist at the VetA dearth of veterinarians and veterinary technicians continues following disruptions during the Covid-19 pandemic.
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Thanks for the giving! EastThe store's owner, Ray Alvarez, has been slinging egg creams and fried Oreos for 49 years to customers from Bruce Willis and Madonna to Kim Kardashian and local cops, firefighters and teenagers.
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XRP Price Prediction as $1The XRP price is largely unchanged today, with its current level of $0.378725 representing a very modest 0.4% rise in the past 24 hours. The altcoin is up by 14% in the past fortnight, but remains... down by 16% in the last 30 days, as the ongoing fallout from the FTX bankruptcy continues to weigh down prices....
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Twitter Exodus Hits Teams Tasked With Regulatory Issues

Wall Street Journal - 24 Nov 2022 12:30
Twitter Exodus Hits TeamsElon Musk's effort to purge Twitter employees who don't embrace his vision has led to a wave of departures among policy and safety-issue staffers around the globe.
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Leading Crypto Wallet MetaMaskEthereum (ETH) software firm, ConsenSys, updated its privacy policy on Wednesday, stating that the popular crypto wallet MetaMask will be collecting certain user data - disgruntling the privacy-loving... crypto community. The wallet co-founder, however, said that this will be "fixed soon." ...
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Bed Bath & Beyond Struggles to Keep Stores Stocked

Wall Street Journal - 24 Nov 2022 12:30
Bed Bath & Beyond Struggles toThe home-goods chain's out-of-stock levels are higher than rivals heading into the holiday shopping season.
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The index outperformed benchmark Nifty on the back of strength across private as well as PSU banks. The key technical indicators are positively poised on the daily timeframe chart, said Reliance... Securities.
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Ripple CTO Says One ImportantA Ripple executive says there is one important lesson from the meltdown of crypto exchange FTX that he “can say with total confidence will not be learned.” The executive added:... “Regulation that punishes after the fact won’t catch it. Investor due diligence won’t either.” One Lesson From FTX Collapse That Won’t Be Learned The CTO […]
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The futures market implies a 76% chance of a rise of 50 basis points to 4.25%-4.5% at the December meeting, while a majority of investors expect the target U.S. federal funds rate will peak above 5%... by next May.
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US stocks: Wall Street risesThe Dow Jones Industrial Average rose 95.96 points, or 0.28%, to 34,194.06, the S&P 500 gained 23.68 points, or 0.59%, at 4,027.26 and the Nasdaq Composite added 110.91 points, or 0.99%, at 11,285.32.
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The number of Americans filing new claims for unemployment benefits rose more than expected last week and U.S. business activity contracted for a fifth straight month in November. Consumer sentiment... ticked higher and home sales rose above expectations.
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South Korea's central bank has eased the pace of interest-rate increases to curb high inflation, lowering its 2023 growth and inflation forecasts.
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NYC Mayor Undeterred by FTXThe mayor of New York City, Eric Adams, is not discouraged by the collapse of crypto exchange FTX and heavy market sell-offs. Noting that crypto is coming whether we like it or not, he stressed the... importance of moving into this space. NYC’s Mayor on FTX Collapse and the Importance of Embracing Crypto New York […]
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Elon Musk refuses to payMusk has put several cost-cutting measures in place since he closing his $44 billion Twitter acquisition last month.      
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The Stop Loan Sharks agency is warning against illegal lenders as families struggle with price rises.
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Investors are worried that liquidity problems for crypto financial-services firm Genesis could spill over to its parent company, Digital Currency Group
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72% of U.S. employees say they'd like to delegate mundane tasks like invoice management, auditing and simple reporting to AI so they can focus on tasks that help them grow at work.
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It's not just you. Disney'sBob Iger is back as Disney's CEO. He thinks his predecessor was too eager to raise prices at Disney's parks, the Wall Street Journal reported.
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Hornby on track for a bumperLast year Hornby had a bleak Christmas period as supply chain problems meant that products arrived after the holiday season.
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Surging costs and fallingIt is the second year in a row Dr Martens has upped its prices. Shares crashed 26% as the firm warned higher costs and lower demand would hit profits.
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BP still hasn't sold its stakeMPs and activists last night slammed the company for its 'business as usual' approach and 'shocking' inability to quit or sell the investment.
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