Former tennis star Boris Becker was sentenced to more than two years in prison on Friday after he illegally transferred large amounts of money after declaring that he was bankrupt, according to The Associated Press. Becker was convicted in London earlier this month on four charges under the country’s Insolvency Act, per the report. Officials said that the 54-year-old transferred hundreds of thousands of pounds from his business account to other accounts after he declared bankruptcy in… Source link

In the afterglow of the NFL draft, everyone thinks their team’s rookie class will work out great. If you have multiple first-round picks, the sky is the limit. Just wait until the optimistic draft grades for each of those teams that picked more than once in the first round on Thursday. It would be great if the NFL was that easy. The Las Vegas Raiders know it’s not. In 2019, the Raiders had just traded edge rusher Khalil Mack and receiver Amari Cooper, but they were awash in first-round picks…. Source link

The demise of CNN+ has led to further questions about the role of cable companies in the streaming era. The soon-to-vanish platform, once hailed as one of the most significant launches in the legacy media business, will shut down on April 30 — just one month after its launch. The news arrived shortly after David Zaslav’s takeover, with the newly formed Warner Bros. Discovery (WBD) making it abundantly clear that the venture’s reported four-year budget of $1 billion was not worth the cost. So… Source link

Rivian’s (RIVN) recent stock performance may have burned a hole in many a retail investor’s portfolio. It’s also burned a big hole in Ford (F), and now Amazon’s, quarterly performance. Last night in its first quarter earnings report, Amazon (AMZN) revealed it booked a $7.6 billion mark-to-market loss on its investment in Rivian, which led to an overall $3.8 billion net loss for the quarter. Amazon owns an 18% stake in the electric vehicle maker. Earlier this week, Ford reported an overall $3.1… Source link

Even mega-cap tech giant Amazon couldn’t bear up against the macroeconomic headwinds that imperiled Corporate America last quarter. Shares of Amazon (AMZN) plunged 12% on Friday, marking the tech giant’s biggest intraday drop since July 14, according to Bloomberg data. The slide wiped $170 billion off the company’s market valuation and sent the stock to its lowest level since June 2020. The sell-off comes at the heels of a disappointing earnings report from Amazon that showed a loss of… Source link

Six months ago, Facebook changed its name to Meta (FB) ostensibly to reflect its focus on the virtual reality spaces known as the metaverse. The announcement was simultaneously important and strange, echoing another tech giant’s name change — Google’s 2015 move to rename itself Alphabet (GOOG, GOOGL). It’s difficult to tell if Meta’s name change has been embraced by the public or, for that matter, if Alphabet’s has. Even as I’m writing this, it feels weird to refer to Facebook… Source link

Former Tennessee Titans receiver A.J. Brown wants fans to know he is not at fault for the trade that sent him to the Philadelphia Eagles on Thursday. Brown said he wanted to stay with the Titans, and that he believed the two sides were closer to a deal than reported. Brown said he wasn’t happy with the deal the Titans offered originally, according to ESPN. “This wasn’t my fault,” Brown told ESPN. “I wanted to stay, but the deal they offered was a low offer. The deal they offered wasn’t even… Source link

(Bloomberg) — A drop below 4,000 index points for the S&P 500 will be a “tipping point,” which could potentially trigger a mass exodus from equities, according to Bank of America Corp. strategists. Most Read from Bloomberg Investors have already started fleeing stocks, with outflows from equity funds over the past three weeks adding up to the worst since March 2020, the strategists led by Michael Hartnett said, citing EPFR Global data. The average S&P 500 entry point for the “huge”… Source link

Elon Musk has lined up a new CEO for Twitter and told banks that agreed to help fund his $44 billion acquisition offer about his plans to monetize tweets, according to a new report from Reuters. A source told Reuters that Musk has decided on who he plans to appoint as the new chief executive of Twitter, but the source didn’t name the person. Twitter’s current CEO Parag Agrawal, who took the role after Jack Dorsey stepped down in November, is expected to remain as CEO until the deal is… Source link

Chicago Cubs catcher Willson Contreras had an emotional night Thursday. The Cubs traveled to Georgia to take on the Atlanta Braves. Contreras’ brother, William, is a catcher with Atlanta. The game marked the first time the two brothers would play against each other in the majors. The two teams selected the Contreras brothers to exchange lineup cards at home plate before the game. The two players met, shook hands and shared an extended hug. When they released from the hug, Willson was wiping… Source link