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Musk delivers first Tesla truck, but no update on output, pricing

Tesla ships first Semi to PepsiCo five years after unveiling it No details on electric truck controls or capacity Semi uses existing Tesla motors to come up with a new Supercharger Dec. 1 (Reuters) – Tesla Inc. (TSLA.O) CEO Elon Musk delivered the company’s first Semi-Durable to PepsiCo on Thursday (PEP.O) without offering up-to-date forecasts …

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Crypto lender BlockFi files for bankruptcy, cites FTX exposure

Filing follows weeks after FTX collapse FTX listed as BlockFi’s #2 creditor Bitcoin down over 70% from 2021 peak Nov 28 (Reuters) – Cryptocurrency lender BlockFi has filed for Chapter 11 bankruptcy, it said on Monday, the latest crypto casualty after the firm was hurt by exposure to the dramatic collapse of the FTX exchange …

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Stocks churn ahead of Fed minutes as oil tumbles on price cap plan

Fed Minutes for November at 7:00 p.m. GMT American Thanksgiving holiday on Thursday Stocks post weak gains globally Eurozone economic data point to recession China hit by rising COVID-19 infections LONDON, Nov 23 (Reuters) – Global stocks rebounded on Wednesday ahead of minutes of a Federal Reserve meeting that could shed light on whether the …

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Crypto lender Genesis says no immediate plans to file for bankruptcy

Nov 21 (Reuters) – Cryptocurrency lender Genesis said on Monday it had no immediate plans to file for bankruptcy, days after the collapse of crypto exchange FTX l forced to suspend customer redemptions. “We do not intend to file for bankruptcy imminently. Our goal is to resolve the current situation on a consensual basis without …

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Oil prices ease to near 2-month lows on China demand fears, dollar strength

Brent and WTI contracts fell around $1 a barrel earlier Beijing districts close schools as China’s COVID cases rise Rising dollar weighs on prices LONDON, Nov 21 (Reuters) – Oil prices fell on Monday to trade near their lowest level in two months, after falling around $1 a barrel as supply fears faded while concerns …

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FTX fires three of its top executives – WSJ

Nov 18 (Reuters) – Cryptocurrency exchange FTX, which recently sought protection in a U.S. bankruptcy court, has fired three of its top executives, including co-founder Gary Wang, The Wall reported on Friday. Street Journal, quoting an FTX spokeswoman. The other fired executives were engineering director Nishad Singh and Caroline Ellison, who ran FTX’s trading arm, …

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Special Report: FTX’s Bankman-Fried begged for a rescue even as he revealed huge holes in firm’s books

FTX founder sought to raise $7 billion from investors including Sequoia, Apollo, TPG, three sources say FTX also turned to Nomura and Saudi wealth fund – sources FTX and trading affiliate Alameda, nominally independent, both listed same assets on their books – investor presentations Records seen by Reuters show FTX diverted large share of fee …

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Nearly half of Meta job cuts were in tech, reorg underway – execs say

OAKLAND, Calif., November 11 (Reuters) – Meta Platforms, owner of Facebook (META.O) told employees on Friday it would stop developing smart displays and smartwatches and that nearly half of the 11,000 jobs it cut this week as part of unprecedented cost-cutting were in tech roles . Speaking at a public employee meeting heard by Reuters, …

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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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