Elizabeth Holmes, one of Silicon Valley’s most celebrated and vilified startup founders, is scheduled to appear in court in San Jose on Friday for a sentencing hearing where she’s expected to learn whether she’ll go to prison for defrauding investors out of hundreds of millions of dollars. Holmes, who was found guilty in January of three counts of wire fraud and one count of conspiracy related to her now-defunct blood-testing venture Theranos, faces up to 20 years in prison, up to $1… Source link

Billionaire hedge fund manager Bill Ackman has been urging the Federal Reserve to get serious on inflation since late last year. Now, he has doubts about the U.S. central bank’s ability to bring price stability down to its target. And thinks stock prices could remain under pressure as rates stay high amid this new environment. The Pershing Square Capital founder and CEO said Thursday in a quarterly call with investors that interest rates are “meaningfully below where they are going to… Source link

Domantas Sabonis is one of two centers to look out for in Thursday’s matchup between the Kings and Spurs. Thursday brings an odd schedule in the NBA. There are only three games, and all of them will be on the West Coast. The Trail Blazers will take on the struggling Nets, who gave up a staggering 153 points in a loss to the Kings on Tuesday. Those same Kings will also be in action, taking on the Spurs in Sacramento. The final game of the evening will feature the Clippers hosting the… Source link

With calls to regulate crypto in the wake of FTX’s meltdown increasing, one legal expert says those demands are misplaced. “When it just comes to regulation of the space in general, I know a lot of people are calling for it,” Cathy Yoon, chief legal officer at MPCH, told Yahoo Finance Live (video above). “They want immediate action, but I think at the heart of things we really have to remember this really is a fraud first, and not necessarily something that touches all of the crypto… Source link

Those advocating for a more equitable financial system suffered a serious setback last week, when revelations emerged that crypto’s so-called white knight, Sam Bankman-Fried, reportedly used customer deposits in FTX (FTT-USD), the crypto exchange he founded, to fund risky bets in Alameda, a sister company he owned. The bankruptcy of one of the world’s largest crypto exchanges and ensuing allegations around its demise have sent shockwaves across the crypto industry and shaken the… Source link

OAKLAND, Calif., Nov 17 (Reuters) – Alphabet Inc’s (GOOGL.O) Google has struck deals with at least 24 big app developers to stop them from competing with its Play Store, including an agreement to pay Activision Blizzard Inc (ATVI.O) about $360 million over three years, according to a court filing on Thursday. Google also agreed in 2020 to pay Tencent Holdings Ltd’s <0700.HK> Riot Games unit, which makes “League of Legends,” $30 million over one year in a similar deal, the filing stated. The… Source link

Our analysts reveal their boldest fantasy predictions for Week 11. Which will come to pass? Nice day for Nico Dalton Del Don: Nico Collins saw 10 targets during his return last week while Brandin Cooks continues to fall out of favor in Houston. Davis Mills plays far better at home, and Houston gets a Washington team traveling during a short week. The Commanders have ceded the second-most passing scores in the league but rank second against the run in DVOA, so it’s a nice setup for volume… Source link

Kohl’s (KSS) is bordering on irrelevancy, and it may stay that way for years to come, warned one veteran retail analyst. “Kohl’s is a business whose time has passed,” Jan Rogers Kniffen, CEO of J Rogers Kniffen Worldwide, said on Yahoo Finance Live (video above). “They were the rising star all through the ’80s, ’90s, and into 2000, and at that point in time they wound up with 1,150 stores in a space that probably only needed 750. and they have been mature and struggling ever since.” Those… Source link

Mortgage rates plunged by nearly a half-percent this week, marking the largest week-over-week decline since November 1981. The rate on the average 30-year fixed mortgage fell to 6.61% from 7.08% the week prior, according to Freddie Mac, which this week changed its methodology calculating rates. The drop follows a sharp decline in the yield on the 10-year Treasury last week after a government showed inflation cooled last month. The sudden decrease gave price-strained homebuyers and sellers… Source link

When it comes to litigation, it’s surprising the kinds of revelations that come out when someone is under oath. And that includes what’s next for Tesla’s (TSLA) leadership. During testimony yesterday at trial over Elon Musk’s 2018 pay package, Tesla board member James Murdoch testified that Elon Musk has identified someone as a potential successor for his role as CEO at Tesla. “He actually has,” Murdoch said when a plaintiff’s attorney asked him to confirm that Musk has never… Source link