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(Bloomberg) — Just under four years ago, brothers Joesley and Wesley Batista were in Brazilian prison cells with concrete bunk beds, their multibillion-dollar meat empire near collapse in one of the world’s biggest corporate corruption scandals. Today, they’re not only free men but their company, JBS, is worth three times what it was then, operates in 20 countries and controls a quarter of U.S. beef processing. The brothers, worth $5.8 billion, hold stakes in companies with $28 billion… Source link

(Bloomberg) — It was the type of master stroke that could make a Wall Street career. Jason Mudrick’s financing of AMC Entertainment Holdings Inc. at the height of the pandemic netted his hedge fund hundreds of millions of dollars in just a few months. Then, in the blink of an eye, it was gone. Options contracts meant to hedge the bullish wager went haywire as retail traders flocked to AMC’s stock, pushing shares to once unimaginable heights and costing Mudrick Capital Management all of… Source link

Ohio has launched itself headlong into reducing Bitcoin’s carbon footprint after signing a five-year deal with Bitcoin mining company Standard Power to provide a nuclear-powered mining centre. The operation will be live from December 2021 and will produce so-called ‘green Bitcoins’. Ohio has successfully bid to host the state-of-the-art facility in Coshocton in an effort to boost the number of tech jobs in the region. Energy Harbor Corp is an independent power producer, fully integrated… Source link

In 2021, a grassroots movement has emerged and low-priced stocks are being targeted – but not necessarily in a bad way. If anything, the attention surrounding meme stocks has only helped to boost their prices and shine the spotlight on under-the-radar businesses. A prime example of this would be Exela (XELA) stock, which has seen unusual trading volume and price action recently. There’s an old saying in the financial markets: know what you own. Therefore, we’ll delve into what Exela does… Source link

(Reuters) – The U.S. Consumer Product Safety Commission (CPSC) said on Wednesday it has sued Amazon.com Inc to force the retailer to recall hundreds of thousands of hazardous products that it had distributed on its platform. By a 3-1 vote, the CPSC voted to file an administrative complaint saying the Seattle-based e-commerce giant was legally responsible to recall the products as they posed a serious risk of injury or death to consumers. The products included 24,000 carbon monoxide detectors… Source link

Rising worker productivity is a good omen for the US economy that could help address the country’s recent bout of inflation, Brent Schutte, chief investment strategist at Northwestern Mutual Wealth Management, said. “That’s the little-known secret that no one talks about,” Schutte told Yahoo Finance Live. “In the U.S. economy, productivity is rising. That’s a really good thing because that increases the amount that we can pay our workers, makes the US economy grow faster, and… Source link

When the monthly Child Tax Credit payments start this week, the Meyette family of Fontana, California, will see their household income increase by 25% — a much-needed boost at this time. Erica Meyette recently underwent surgery and her husband Jonathan, who is the sole breadwinner, missed two weeks of work to care for her. The $600 the family will get for their two daughters will go to expenses, savings, and any medical debt they incur. “So $600 a month is an increase of big proportions… Source link

Federal Reserve Chairman Jerome Powell on Wednesday downplayed the recent string of high readings of inflation, telling Congress that price pressures will still likely abate. On Tuesday, figures from the Bureau of Labor Statistics showed the Consumer Price Index increasing by 5.4% on a year-over-year basis in June, the fastest pace since August 2008. A read on producers also showed prices accelerating to the largest annual increase in over a decade, testing the Fed on its commitment to only… Source link

Wednesday, July 14, 2021 This article was first featured in Yahoo Finance Tech, a weekly newsletter highlighting our original content on the industry. Get it sent directly to your inbox every Wednesday by 4 p.m. ET. Subscribe Amazon (AMZN) founder Jeff Bezos will launch Tuesday from a remote area of west Texas on his Blue Origin rocket, becoming the second billionaire this month to leave the Earth, albeit briefly. Bezos’ July 20 flight on the New Shepard spacecraft will come less than two… Source link

As the cameras panned in and out of commercial breaks during Game 3 of the NBA Finals on July 11, ESPN was still advertising something — just not a product. Instead, the cameras focused on a neighborhood filled with Milwaukee Bucks fans gathered for a watch party reminiscent of a European soccer crowd. “I think in our wildest dreams, we couldn’t imagine that we have more people outside than we’d have inside,” Bucks and Fiserv Forum President Peter Feigin told Yahoo Finance Live on… Source link