CEZ

Exclusive: Behind FTX’s fall, battling billionaires and a failed bid to save crypto

November 10 (Reuters) – (This story contains language that some readers may find offensive in paragraph 2) On Tuesday morning, Sam Bankman-Fried, owner of cryptocurrency exchange FTX, caught his employees off guard with a grim message. “I’m sorry,” he told them. “I screwed up.” The reason for the mea culpa: its announcement half an hour …

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Binance plans to buy FTX’s non-U.S. operations in latest crypto bailout

WASHINGTON/LONDON, Nov 8 (Reuters) – Crypto giant Binance has signed a non-binding deal to buy non-U.S. unit of FTX rival FTX.com to help cover a “liquidity crunch” to the cryptocurrency exchange, the companies said Tuesday, in a surprise move that raised further concerns about the risks investors face in the volatile crypto market. Binance CEO …

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Twitter lays off staff as Musk blames activists for ‘massive’ ad revenue drop

Musk seeks to lay off about half of Twitter’s workforce Employees file class action lawsuit against Twitter Staff lose access to systems Volkswagen removes ads Nov 4 (Reuters) – Twitter Inc began a major round of layoffs on Friday, alerting employees to their status via email after barring entry to offices and cutting off workers’ …

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CVS, Walmart, Walgreens agree to pay $13.8 bln to settle U.S. opioid claims

Nov 2 (Reuters) – CVS Health Corp (CVS.N)Walgreens Boots Alliance Inc. (WBA.O) and Walmart Inc. (WMT.N) agreed to pay approximately $13.8 billion to resolve thousands of lawsuits filed by U.S. state, local and tribal governments accusing drugstore chains of mishandling opioid painkillers. CVS said Wednesday it agreed to pay about $5 billion over 10 years, …

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Exclusive: Tesla plans mass production start for Cybertruck at end of 2023

November 1 (Reuters) – Tesla (TSLA.O) aims to start mass production of its Cybertruck in late 2023, two years after long-awaited pickup truck CEO Elon Musk’s original target unveiled in 2019, two people with knowledge of the plans told Reuters. Tesla said last month it was working on preparing its Austin, Texas factory to build …

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European stocks up as investors see signs Fed could slow rate rises

LONDON, Oct 25 (Reuters) – European stocks rose in early trading on Tuesday as investors wary of signs that the U.S. Federal Reserve could slow its rate hikes, although concerns over China’s economy continue to weigh in Asian markets. Asian stocks struggled to make gains on uncertainty over whether Xi Jinping’s new leadership team would …

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Europe edges higher as UK U-turns settle nerves

European markets gain as UK measures help sterling and gilts Nikkei down 1.2%, S&P 500 recovers slightly after its fall Dollar close to 149 yen, market wary of intervention Chinese yuan plummets after Xi’s congress speech LONDON/SYDNEY, Oct 17 (Reuters) – European stock, bond and currency markets rose tentatively on Monday, helped by relief that …

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U.S. grocer Kroger carts away Albertsons for $25 bln but faces antitrust test

Oct 14 (Reuters) – Kroger Co (KR.N) acquired Albertsons Cos Inc. (ACI.N) in a $25 billion deal on Friday, creating an American grocery giant to better compete with leader Walmart Inc (WMT.N) on pricing while bracing for antitrust scrutiny. The mega merger between the No. 1 and No. 2 autonomous grocers in the United States …

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Toyota restarts output of first EV after fixing safety issues

TOKYO, Oct 6 (Reuters) – Toyota Motor Corp said on Thursday it would restart production of its first electric vehicle, the bZ4X, after addressing potential safety issues that had halted sales of the new battery-powered model for more than three months. Japan’s biggest automaker, a latecomer to the electric vehicle market, recalled 2,700 bZ4Xs worldwide …

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Frugal is the new cool for young Chinese as economy falters

BEIJING, Sept 19 (Reuters) – Before the pandemic, Doris Fu imagined a different future for herself and her family: a new car, a bigger apartment, fine dining on weekends and vacations on tropical islands. Instead, the 39-year-old marketing consultant from Shanghai is one of many Chinese in their 20s and 30s cutting spending and saving …

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