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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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Foxconn’s woes to take bigger toll on giant China iPhone plant as more workers leave -source

November shipments from Foxconn’s Zhengzhou plant to drop further – source Workers’ discontent at the factory turned into protests this week More than 20,000 workers, mostly new recruits, left – source TAIPEI, Nov 25 (Reuters) – Foxconn’s (2317.TW) China’s flagship iPhone factory is expected to see its November shipments further reduced by the latest bout …

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Foxconn apologises for pay-related error at China iPhone plant after worker unrest

Foxconn says it is working with staff to resolve disputes Major iPhone factory rocked by protests over wages and conditions Apple says it has a team on the ground in Zhengzhou TAIPEI/SHANGHAI, November 24 (Reuters) – Foxconn (2317.TW) said on Thursday that a “technical error” related to compensation occurred when hiring new hires at a …

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Stick-wielding men smash surveillance cameras at China iPhone plant

SHANGHAI, Nov 23 (Reuters) – Men wielding batons smashed surveillance cameras and windows at a huge Apple-owned campus (AAPL.O) Foxconn supplier (2317.TW) in the Chinese city of Zhengzhou, scenes streamed live on Kuaishou’s short video platform were released on Wednesday. Hundreds of workers demonstrated on campus, home to the world’s largest iPhone factory, where many …

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Elon Musk encourages Twitter engineers to fly in for in-person meetings

November 18 (Reuters) – Elon Musk on Friday asked all remaining Twitter employees who write software code to report to the 10th floor of the San Francisco office by early afternoon, according to an email reviewed by Reuters . The billionaire said in a follow-up email: ‘If possible, I would appreciate it if you could …

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After Elon Musk’s ultimatum, Twitter employees start exiting

Nov 17 (Reuters) – Hundreds of Twitter workers are believed to be leaving the beleaguered social media company following an ultimatum from new owner Elon Musk that employees sign up for “long, high-intensity hours ” or leave. In a survey of the work app Blind, which verifies employees through their work email addresses and allows …

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Wall Street drops as hawkish Fed official comments weigh

Fed’s Bullard backs further rate hikes Data shows that the US labor market remains tight Cisco shares rise after Co raises full-year outlook Macy’s jumps on raising its earnings forecast Indices down: Dow 0.02%, S&P 0.31%, Nasdaq 0.35% Nov 17 (Reuters) – Wall Street’s major indexes ended slightly lower on Thursday in a choppy session …

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Tesla board member says Elon Musk identified potential successor as CEO

SAN FRANCISCO, Nov 16 (Reuters) – James Murdoch of Tesla Inc (TSLA.O) director, said in court on Wednesday that CEO Elon Musk had in recent months identified someone as a potential successor at the helm of the electric car maker. Murdoch, who did not name the potential successor, was testifying in a lawsuit over Musk’s …

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