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Sam Bankman-Fried pleads not guilty in FTX fraud case; October trial set

NEW YORK, Jan 3 (Reuters) – Sam Bankman-Fried pleaded not guilty on Tuesday to criminal charges of misleading investors in his now bankrupt cryptocurrency exchange FTX and causing billions of dollars in losses, in what prosecutors called it an “epic” fraud. He pleaded in federal court in Manhattan where he faces eight counts, including wire …

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Tesla shares suffer New Year’s hangover on demand worries, delivery issues

The stock is the first loser in the S&P 500 on the first trading day of 2023 Selloff removes $50 billion from market capitalization Tesla misses fourth-quarter vehicle delivery estimate The electric vehicle company is still the world’s most valuable automaker Jan 3 (Reuters) – Tesla Inc. (TSLA.O) Stocks kicked off 2023 with a thud, …

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Tesla reports record quarterly deliveries but misses estimates

Rare for Tesla to deliver less than it produces Tesla stock in 2022 had its worst year since its IPO Jan 2 (Reuters) – Tesla Inc. (TSLA.O) Monday reported record fourth-quarter electric vehicle production and shipments but missed Wall Street estimates, dogged by logistical issues, slowing demand, rising interest rates and fears of recession. The …

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China’s Huawei sees ‘business as usual’ as U.S. sanctions impact wanes

SHANGHAI, Dec 30 (Reuters) – Chinese tech giant Huawei Technologies Co Ltd (HWT.UL) estimated on Friday that its 2022 revenue was flat, suggesting that a drop in sales due to U.S. sanctions will s was arrested. Although sales rose only 0.02%, rotating chairman Eric Xu struck an optimistic tone in the company’s annual New Year …

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U.S. stocks drop on recession fears, Nasdaq closes at new bear market low

Tesla gains 3.3% in choppy trade Southwest Airlines slips 5.2% on government review Indices down: Dow 1.1%, S&P 500 1.20%, Nasdaq 1.35% Dec 28 (Reuters) – Major Wall Street indexes weakened on Wednesday, with the Nasdaq hitting a 2022 closing low, as investors grappled with mixed economic data, a rise in COVID cases in China …

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Bankman-Fried, FTX execs received billions in hidden loans, ex-Alameda CEO says

NEW YORK, Dec 23 (Reuters) – Sam Bankman-Fried and other FTX executives have received billions of dollars in secret loans from the crypto tycoon’s Alameda Research, the former fund chief said speculation to a judge when she pleaded guilty to her role in the collapse of the exchange. . Caroline Ellison, former managing director of …

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Facebook parent Meta to settle Cambridge Analytica case for $725 million

Dec 23 (Reuters) – Meta Platforms Inc, owner of Facebook (META.O) agreed to pay $725 million to resolve a class action lawsuit accusing the social media giant of allowing third parties, including Cambridge Analytica, to access users’ personal information. The proposed settlement, which was disclosed in a filing in court late Thursday would resolve a …

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Core Scientific files for bankruptcy as crypto winter bites

Dec 21 (Reuters) – Core Scientific Inc (CORZ.O)one of the largest publicly traded cryptocurrency mining companies in the United States, said on Wednesday that it had filed for Chapter 11 bankruptcy, the latest in a series of failures to hit the area. Core Scientific, based in Austin, Texas, attributed its bankruptcy to falling bitcoin prices, …

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Musk to step down as Twitter CEO once he finds ‘someone foolish’ enough as successor

Dec 20 (Reuters) – Billionaire Elon Musk said on Tuesday he would step down as chief executive of Twitter Inc once he finds a replacement, but will still lead some key divisions of the platform. social media. “I’ll step down as CEO as soon as I find someone dumb enough to take the job! After …

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Wall Street falls fourth straight day as recession worries nag

Dec 19 (Reuters) – Wall Street stocks closed lower on Monday for a fourth straight session, with the Nasdaq leading the declines as investors shun riskier bets amid fears the Federal Reserve’s tightening campaign could take a dive the US economy in a recession. The three major U.S. stock indexes have been under pressure since …

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