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The final jumbo jet from Boeing just rolled off the assembly line.
Boeing on Tuesday said it is ending production of the 747-8 freighter variant of its jumbo jet, the world’s longest commercial plane. Atlas Air, a US-based operator of cargo aircraft, will be taking delivery of the final version of the aircraft. “It’s a proud day for Atlas Air and our industry,” the company’s Chairman and…
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The owner of the Washington Commanders was cited in a House report for his role in the culture.
Washington Commanders owner Daniel Snyder has denied allegations that he hired private investigators to look into other NFL owners, as well as league commissioner Roger Goodell. Multiple unnamed owners and league and team sources reported last week that the Commanders owner instructed his law firms to hire private detectives to look into other owners.
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The FTC wants to block the merger of Microsoft withActivision.
Microsoft CEO Satya Nadella has said that the US Federal Trade Commission’s (FTC) lawsuit to block Microsoft’s $5 billion deal to buy Activision Blizzard won’t be a “huge mistake”. He added that the FTC’s allegation that Microsoft made some popular game titles exclusive to it didn’t align with the facts. He said, “We believe we’ll…
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Ex-regulator Bair said that the FTX crash shares some parallels with what happened to Ponzi schemer Madoff.
US cryptocurrency exchange FTX’s CEO Sam Bankman-Fried has resigned after the company’s collapse. Several former FTX employees have claimed they didn’t recognise that the exchange transferred funds to his hedge fund Alameda Research to cover its losses, the New York Times reported. Bankman-Fried held a meeting with several executives in Nassau to determine how much…
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How FTX left a hole in the corporate overlord.
US-based cryptocurrency startup FTX’s CEO Sam Bankman-Fried has said he’s “piecing together” what has happened at FTX. In a tweet on Friday, he said his priority would be “radical transparency” or “giving as close to on-chain transparency as it can: so that people know exactly what’s happening on it”. The startup was founded by Bankman-Fried…
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The Wall Street Journal is reporting that Meta is planning significant layoffs.
Facebook-parent Meta is planning the first significant layoffs in its history as it struggles with a shrinking business and fears of a looming recession, Entrackr reported. Earlier this month, Meta said its second-quarter revenue declined for the second consecutive quarter. Facebook CEO Mark Zuckerberg had earlier said that the workforce cuts would “affect the whole…
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The collapse of the FTX is believed to be the last one.
US Securities and Exchange Commission head Gary Gensler said on CNBC on Thursday that while the crypto space is regulated, investors “need better protection”. Gensler said this while speaking about FTX CEO Sam Bankman-Fried. The SEC and Justice Department are looking into FTX. Bankman-Fried put up $1 billion to bail out companies and shore up…
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Dolly Parton got a large sum of money from Jeff Bezos.
Amazon Founder and CEO Jeff Bezos in a recent interview said that he and wife MacKenzie Bezos had agreed to do their first interview as a couple to shine a light on Bezos Courage and Civility Award given to music star Dolly Parton. Parton, who was awarded the award last year, can use the money…
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Mastodon is on fire, because of all the chaos on social media.
Twitter Co-founder Jack Dorsey said he’s “very sceptical” about SpaceX CEO Elon Musk’s claims that he plans to take Twitter private. Dorsey added that his company is “not willing to go that route”. He added, “I think [Musk] is being disingenuous by saying that we’re planning to take Twitter private.” Musk claimed he’s planning to…
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No one is going to save the industry.
Sam Bankman-Fried, Founder and CEO of cryptocurrency exchange FTX US, held a meeting with executives in Nassau last Sunday to calculate how much outside funding he needed to cover FTX’s shortfall. Bankman-Fried showed several spreadsheets to the heads of the company’s regulatory and legal teams that revealed FTX had moved around $10 billion in client…
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The second part of the hunt for the dark web biggest kingpin.
Celsius, a cryptocurrency exchange facing bankruptcy, has released a document that may include the transaction data of over 50 lakh users from April 2019. Celsius’ owners are accused of withdrawing tens of millions of dollars worth ofCryptocurrencies from the exchange before revealing its insolvency. The exchange’s attorneys released a document that may include the transaction…
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SamBankman-Fried’s fortune disappeared in less than a week.
Sam Bankman-Fried, the CEO of FTX, the world’s biggest cryptocurrency exchange, has announced that he’s filing for bankruptcy. “FTX, Inc. or its former CEO are not involved in my personal bankruptcy,” he wrote. “I ampiecing together what has happened at FTX…I’m confident that FTX will emerge stronger, and better, than ever before,” Bankman-Fried added.
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Target has the best anti-Prime Day deals.
Amazon has launched its second Prime Day sale, offering customers up to $100 Amazon gift cards and free two-day shipping on orders over $70. Last year’s Prime Day sale was held on July 5 with free two-day shipping for eligible orders of up to $75. As per reports, the second sale will end on July…
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It took Sam Bankman-Fried less than a week to lose his fortune.
FTX has filed for bankruptcy in the US, a day after its entire staff of the FTX Future Fund, which says it has committed $160 million in grants, publicly quit. The group said they have ” fundamental questions about the legitimacy and integrity of business operations that were funding the FTX Foundation and the Future…
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The FTX collapsed.
FTX, the cryptocurrency exchange that has gone bankrupt, was founded in 2010 by a former trader named David. After David left FTX in 2016, he found a “safe and easy” way to get into crypto, according to an advertisement he saw in a newspaper. This week, FTX was on the brink of collapse after Chinese…
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FTX’s implosION was predicted by Larry David.
Cryptocurrency exchange FTX, founded by 30-year-old Sam Bankman-Fried, filed for bankruptcy in the US on Friday, marking the downfall of one of the biggest and most powerful players in the crypto industry. The company said FTX was essentially beyond saving and that was the reason it backtracked on its earlier promise to explore a rescue.…
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FTX will collapse, predicted Larry David.
FTX, the world’s biggest cryptocurrency exchange, has been shut down by its founder Sam Bankman-Fried. The Miami Heat NBA franchise, which owns FTX, said it was forced to shut its doors as it couldn’t open its accounts due to liquidity constraints. Bankman-Fried had put up $1 billion to bail out firms and shore up assets…
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According to the Wall Street Journal, Meta is planning significant layoffs.
Facebook-parent Meta is planning to fire the first significant layoffs in its history as the company grapples with a shrinking business and fears of a looming recession, The New York Times reported. Last month, the company posted a revenue decline and reported a halving of its profit from the previous year. The drop in profitability…
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According to the Wall Street Journal, Meta is planning significant layoffs.
Metaweb Services is reportedly planning to cut thousands of jobs in US as early as this week. In May, the firm announced that it was cutting 11,000 jobs, or 13% of its workforce. The job cuts are expected to impact thousands of workers and could begin as early as this week, the Wall Street Journal…
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Meta is planning significant layoffs, according to the Wall Street Journal.
Following reports that Amazon is planning to reduce its workforce, a spokesperson said, “As part of this year’s review, we’re of course taking into account…macro-environment and considering opportunities to optimise costs.” Last week, Apple CEO Tim Cook had said, “We’ll be taking a look at our spending going forward.” Earlier, Facebook CEO Mark Zuckerberg said…
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Amazon will invest 1 billion bucks to improve its delivery fleet.
Amazon has partnered with electric vehicle distribution network (EVDs) Rivian to create its fleet of electric delivery vehicles (EVs) in several parts of the US and Europe. Amazon and Rivian said that the investment will help install more public EV chargers in Europe, as well as serve as an incentive to the auto industry to…
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Musk doesn’t want the website to become a free-for-all hellscape.
Twitter CEO Jack Dorsey was questioned by the SEC over the company’s proposed $4 billion deal with Elon Musk and whether he had knowledge of it, reports said. Dorsey said he didn’t know about the deal when it was offered to him, reports added. “I didn’t believe it at all,” Dorsey said. This comes after…
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TikTok denies a plan to track specific US citizens using its app.
TikTok-parent ByteDance plans to monitor at least two Americans who “had never had an employment relationship” with the company, Forbes reported. The internal audit team of ByteDance allegedly planned on surveilling at least two Americans who had “never had an employment relationship with the company”. Forbes claimed that ByteDance did not reveal who was going…
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There is a furor over Nike splits with Kyrie Irving.
Adidas has announced that it will end its partnership with rapper Kanye West. “Ye’s recent comments and actions have been unacceptable, frightening and dangerous and they violate company’s values of diversity…inclusion,” Adidas said in a statement. Earlier, Kanye had tweeted that he didn’t agree with a documentary about Jews, which was deemed antisemitic by Anti-Defamation…
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Nike has suspended its relationship with Irving.
Adidas has terminated its partnership with rapper Kanye West after he made anti-Semitic remarks on a documentary. In a statement, Adidas said it “does not tolerate antisemitism and any other sort of hate speech” and said his recent comments were “unacceptable, hateful and dangerous”. It added that they violated its “values of diversity and inclusion,…