Even hip-hop icon Fat Joe is feeling the sting of inflation. “My wife is upset with the economy because everybody’s doing terrible out here — and we have more friends that are middle class to poor than we have rich friends,” the millionaire “Lean Back” singer said in a new edition of Yahoo Finance Presents. “You know, my wife came home from the supermarket. She had one bag. She was like: ‘It was $350… one bag.’ It’s crazy.” While the stock market embraced the latest Consumer Price Index… Source link

NEW YORK (AP) — Collapsed cryptocurrency trading firm FTX confirmed there was “unauthorized access” to its accounts, hours after the company filed for Chapter 11 bankruptcy protection Friday. The embattled company’s new CEO John Ray III said Saturday that FTX is switching off the ability to trade or withdraw funds and taking steps to secure customers’ assets, according to a tweet by FTX’s general counsel Ryne Miller. FTX is also coordinating with law enforcement and regulators,… Source link

Welcome back to This Week in Apps, the weekly TechCrunch series that recaps the latest in mobile OS news, mobile applications and the overall app economy. Global app spending reached $65 billion in the first half of 2022, up only slightly from the $64.4 billion during the same period in 2021, as hypergrowth fueled by the pandemic has slowed down. But overall, the app economy is continuing to grow, having produced a record number of downloads and consumer spending across both the iOS and… Source link

Disney (DIS) is reining in its spending after the company reported weak fourth quarter earnings, which sent the stock plummeting to a new 52-week low as investors zeroed in on the media giant’s widening streaming losses. In an internal memo obtained by Yahoo Finance, Disney CEO Bob Chapek told division leaders on Friday that the company has established “a cost structure taskforce” to help Disney+ reach its profitability targets. “As we begin fiscal 2023, I want to communicate with you directly… Source link

This article is part of our Yahoo DFS Hockey series. It’s a beautifully busy night of NHL hockey Saturday. There are 11 games on the slate, which I always love to see. Saturdays are for hockey. Here are some players to target, and to avoid, for your DFS lineups. Let’s do this thing! GOALIE Logan Thompson, VGK vs. STL ($41): How good has Thompson been this year? He just allowed four goals to the high-flying Sabres and still has a 2.32 GAA and .925 save percentage. This matchup should be… Source link

IMAX (IMAX) CEO is bullish on the theatrical window. “The debate is over,” IMAX CEO Richard Gelfond told Yahoo Finance Live in a new interview (video above). “The argument that you can skip a theatrical window and make up for it on streaming just isn’t true. The theatrical window is more essential than ever to get the streaming revenue.” Gelfond referenced deep direct-to-consumer losses from streaming-facing media companies like Disney (DIS), which reported disappointing earnings this week… Source link

It’s a beautifully busy night of NHL hockey Saturday. There are 11 games on the slate, which I always love to see. Saturdays are for hockey. Here are some players to target, and to avoid, for your DFS lineups. Let’s do this thing! GOALIE Logan Thompson, VGK vs. STL ($41): How good has Thompson been this year? He just allowed four goals to the high-flying Sabres and still has a 2.32 GAA and .925 save percentage. This matchup should be easier. The Blues are currently last in goals per… Source link

U.S. stocks extended a dramatic ascent on Friday after deceleration in CPI inflation data ignited the most intense rally on Wall Street since early 2020. The S&P 500 (^GSPC) rose 1%, while the technology-heavy Nasdaq Composite (^IXIC) gained 2%. The Dow Jones Industrial Average (^DJI) turned positive heading into the close after lagging behind the other indexes for much of the session. Treasury yields held steady following their steepest one-day decline Thursday in more than a decade. A Source link

The crypto market is experiencing a stunning downfall following the collapse of the exchange FTX (FTT-USD). FTX filed for Chapter 11 bankruptcy protection followed a failed takeover by rival Binance (BNB-USD) earlier in the week, with Sam Bankman-Fried resigning as CEO after engineering a liquidity hole of billions. “It’s a black swan event,” Wedbush tech analyst Dan Ives said on Yahoo Finance Live (video above). “It’s a cautionary tale for what you see in sectors and unfortunately, many will… Source link

The entire team behind the FTX Future Fund, the Sam Bankman-Fried philanthropy, has resigned in the wake of FTX’s unraveling, leaving many grants unfunded. “We are now unable to perform our work or process grants, and we have fundamental questions about the legitimacy and integrity of the business operations that were funding the FTX Foundation and the Future Fund,” the team wrote in an open letter published online Thursday. “As a result, we resigned earlier today.” The FTX Future… Source link