(Bloomberg) — After weeks of profiting from the stock and debt of AMC Entertainment Holdings Inc., hedge fund Mudrick Capital Management ended up with a 5.4% loss after a derivatives bet went haywire. The fund, which specializes in distressed debt, suffered the losses on AMC after day traders pushed the movie theater’s shares up as much as 127% on a single day, derailing call options Mudrick had sold on AMC shares to hedge exposure to the company, according to a person with knowledge of… Source link

 On Friday, the fans at Roland-Garros and the viewers watching on TV were treated to all-timer clay court match between two of the greatest men’s tennis players in the history of the game. Rafael Nadal and Novak Djokovic played their hearts out for more than four hours in what might be one of the greatest tennis matches in recent memory. But someone had to win. And it was Djokovic who was left standing at the end, beating Nadal 3-6, 6-3, 7-6 (7-4), 6-2. He figured out how to beat Nadal on… Source link

The US National Labor Relations Board (NLRB) is expanding its complaint against Google to include three additional former employees of the company, according to Recode. When the agency first accused the search giant of illegally firing some of its workers for organizing, it took up the cases of two individuals. Recode reports the NLRB added Paul Duke, Rebecca Rivers and Sophie Waldman to the complaint. Those former employees allege Google fired them for protesting work it was doing with US… Source link

The Justice Department was recently able to recover $2.3 million worth of bitcoin (BTC-USD) extorted from Colonial Pipeline, suggesting that digital currency may not always be the best tool for criminals. “It’s not intuitive to a lot of people, but it’s a thing that the public is learning more and more,” Hunter Horsley, cofounder and CEO for Bitwise Asset Management, said about the rise in recovery of stolen cryptocurrency, such as part of the bitcoin ransom paid by Colonial Pipeline to… Source link

The bipartisan legislation marks Congress’s most significant push to date to rein in Silicon Valley, in some cases taking direct aim at tech giants’ underlying business models. If successful, the legislation could force Google (GOOG) to stop promoting YouTube in its search results, or prohibit Amazon (AMZN) from selling products on its marketplace that compete directly with third-party seller listings. Apple (AAPL) could be required to relax its restrictions on iOS app developers, and… Source link

Amazon, Apple, Facebook and Google could be forced to overhaul their business practices under a new expansive set of antitrust reforms introduced by a bipartisan group of House lawmakers on Friday. The package of five bills, earlier reported by CNBC and other outlets, would make it harder for dominant platforms to complete mergers and prohibit them from owning businesses that present clear conflicts of interest. The legislation represents the most comprehensive effort to reform century-old… Source link

Darnella Frazier, the woman whose cellphone video of George Floyd’s killing by police in Minneapolis prompted outrage across the world, was awarded an honorary Pulitzer Prize on Friday for “courageously recording” the murder. The Pulitzer Prize board announced it was awarding Frazier a special citation for the video she shot on May 25, 2020, which showed four now-former Minneapolis police officers restrain Floyd outside the Cup Foods convenience store. One of the officers, Derek… Source link

Welcome to the MLB Yahoo Cup Hot Corner! This a free-to-enter, single-entry contest consisting of 27 rounds where the top 1,075 overall entries and the top 70 entries per round share $10,000, with $1,000 to first and $50 to first per round. Scoring will be cumulative across all rounds, with your seven lowest scores dropped at the end. You may join this multi-round MLB DFS contest at any point, but enter today to give yourself the best chance to take home the title. Click here to begin the… Source link

Two Colorado Avalanche fans had their night in Las Vegas go from bad to worse on Thursday. Sitting in the front row, watching their team get eliminated in Game 6 of the second round against the Golden Knights, they were already disappointed, but one Vegas fan decided to agitate them further. As they wallowed in their fan misery, one fan in a blank “Reverse Retro” Vegas jersey — terrible choice — snatched their Avalanche flag that was hung on the barriers in front of them. Like a… Source link

John Chambers has pretty much seen, and done it all in corporate America.  Chambers led Cisco for two decades, surviving the dot com crash and going onto build the company into the tech powerhouse it is today through numerous acquisitions and impressive operational skill. Along the way he developed close, lasting relationships with world leaders such as France President Emmanuel Macron.  Since leaving as Cisco’s chairman in December 2017, Chambers has led his own venture capital firm (backed… Source link