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Sam Bankman-Fried.Craig Barritt/Getty Images for CARE For Special Children Sam Bankman-Fried transferred at least $4 billion in FTX funds to Alameda Research earlier this year, sources told Reuters. The money included customer funds as well as those backed by FTX’s native token FTT and shares in Robinhood.  The Wall Street Journal reported FTX lent more than half of its $16 billion in customer funds to Alameda in total. Sam Bankman-Fried transferred at least $4 billion from FTX to Alameda… Source link

(Reuters) -Amazon.com Inc is undertaking a review of its unprofitable businesses, including the devices unit that houses voice assistant Alexa, to cut costs, the Wall Street Journal reported on Thursday, sending its shares up 11%. Following a months-long review, Amazon has told employees in some unprofitable units to look for jobs elsewhere in the company, while moving to redeploy staff from certain teams to more profitable areas and closing teams in areas such as robotics and retail, the WSJ… Source link

U.S. inflation eased slightly last month as the Federal Reserve raised interest rates to get a grip on prices that have surged at a historic pace. The Consumer Price Index (CPI) in October reflected a 7.7% increase over last year and 0.4% increase over the prior month, the Bureau of Labor Statistics said Thursday. Economists had expected prices rose at an annual 7.9% clip and 0.5% month-over-month, per Bloomberg consensus estimates. On a “core” basis, which strips out the volatile food and… Source link

‘They will come to a bad ending’: A year since its $69K peak, Bitcoin has plummeted more than 70% — here’s why Warren Buffett has hated cryptocurrency all along It’s been a tough year for Bitcoin and its backers. And even back in 2018, the Oracle of Omaha predicted that it and other cryptocurrencies were headed for trouble. “They will come to a very bad ending,” Warren Buffett told CNBC at the time. After hitting an all-time peak of around $69,000 per unit on November 10, 2021, the world’s… Source link

Beyond Meat CEO Ethan Brown is taking a more muted near-term outlook on his business amid rising competition in plant-based meats and an inflation-zapped consumer trading down to cheaper proteins. “A shakeout does appear to be underway, and we expect more brands to either retreat or consolidate,” Brown told analysts on an earnings call late Wednesday. “A less cluttered playing field to [then] emerge in the mid-term.” A McDonald’s “PLT” burger with a Beyond Meat plant-based patty at one of 28… Source link

The NBA schedule lightens up Thursday with only four games for daily fantasy players to choose from. There will be some teams on the second game of a back-to-back set, including the Mavericks, Pelicans and Trail Blazers. The Mavericks will try to bounce back from a disappointing loss to the Magic when they face the Wizards, but they will have to do so without Christian Wood (knee). The 76ers did not play Wednesday, so they will be well rested for their matchup against the Hawks, who are yet… Source link

Southern Regional Police charged a man on Saturday with sexual assault of a 14-year-old girl at The Ruins park in Glen Rock. Joseph Ray Harding, 36, of Glen Rock was charged with criminal attempt statutory sexual assault, indecent assault without conscious of other, unlawful contact with a minor Indecent exposure, and corruption of minors. A 14-year-old girl told police that she walked to The Ruins Park at 10:30 a.m. Nov. 6, where a man began a two-hour conversation with her, according to an… Source link

Rivian (RIVN) stock jumped after hours as the electric adventure vehicle maker reported a narrower loss than expected loss for the third quarter, and also reaffirmed its full-year production forecast and financial outlook. For the quarter Rivian reported revenue of $536 million, missing estimates of $561.1 million, and reported an adjusted EPS loss of $1.57 a share, smaller than the expected loss of $1.86. More importantly for investors, the company said it would still hit its 25,000 vehicle… Source link

VettaFi financial futurist Dave Nadig appeared on Yahoo! Finance to discuss the recent ETF inflow surge. Global ETF inflows in October surpassed $111 billion, triple what they did in September. “If you look at where that money is actually going, a big chunk of it went to U.S. equities. Over $50 billion flowed in,” Nadig said, noting that where it went inside that was more complicated. “We’re not seeing a ton of money flow into the riskiest of risky ETFs, but we are… Source link

Zach LaVine prepares to face the New Orleans Pelicans on Wednesday after a strong 30-point night on Monday.  Yahoo’s main contests will span 12 of the 13 available games on Wednesday, as the game between the Mavericks and Magic is excluded due to a rescheduled tip-off. We’ll identify players to target and fade in this enormous player pool, and we’ll opt for value and less-exposed targets over obvious nightly additions. GUARDS Zach LaVine, CHI ($28) vs. NOP A nagging knee injury… Source link