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
Read More »Team behind Sam Bankman-Fried’s philanthropy FTX Future Fund quit
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
Read More »Polestar stock surges after reporting first-ever profit as a public company
In something of a change this earnings season, an electric carmaker (other than Tesla) actually reported a profit for the quarter. Polestar (PSNY), the Swedish-based company backed by Volvo and China’s Geely, reported its first gross profit as a public company since completing its SPAC merger earlier this year. For the quarter, Polestar reported: Though Polestar did miss on the top line, sales were up 105% for the quarter versus last year, and it was enough to eke out a $4 million gross… Source link
Read More »NBA DFS Picks: Yahoo Plays and Strategy for Friday, November 11
Fred VanVleet has stepped up with averages of 29.7 points, 3.7 rebounds, 6.3 assists over the past 3 games. The NBA returns from a quiet Thursday with eight games Friday. One of the most appealing matchups features the Celtics hosting the Nuggets. Out West, the Warriors will welcome the up-and-coming Cavs, who’ve dropped their last two. Among the notable injuries on this slate will be LeBron James (thigh), Giannis Antetokounmpo (ankle) and Jrue Holiday (ankle), who are all out. Let’s… Source link
Read More »How Google is using search trends to feed millions of people
AUSTIN (KXAN) — More Texans are turning to Google in search of food banks. “Specifically in Texas, what we’ve seen is a 570% jump in people searching for ‘where to donate food near me?’ said Katherine Williams with Google.org. The search engine found a 90% spike in Texans searching for “food banks open near me.” “That indicates perhaps Texans are looking for resources. So, what we’ve done is Google.org has partnered with Feeding America to help deliver 50… Source link
Read More »‘I thought I’d be clear in this layoff’
At the start of this week, a technical recruiter at Meta (META) thought layoffs wouldn’t touch her, she told Yahoo Finance. She performed well at work, always meeting or exceeding expectations at a company that had prioritized attracting engineering talent for years. She was also in her third trimester of pregnancy. “Until yesterday, I thought I’d be clear in this layoff,” she said, speaking on the condition of anonymity. “I didn’t think these layoffs would be to the scale that they… Source link
Read More »FTX files for bankruptcy, Bankman-Fried steps down
Editor’s note: This story is developing. Check back for updates. Crypto exchange FTX and its affiliated companies have filed for Chapter 11 bankruptcy, the company announced on Friday, with FTX Founder Sam Bankman-Fried stepping down as CEO. John J. Ray III will take over as chief executive, while Bankman-Fried will assist during the transition. The filing for the affiliate, Alameda Research LLC, lists between $10 billion and $50 billion assets, between $10 billion and $50 billion in… Source link
Read More »Bojan Bogdanovic providing value to young Pistons and potentially boosting his own status in the trade market
Bojan Bogdanovic looks like Bojan Bogdanovic. His hair may be a touch thinner, Pistons blue now drapes his 6-foot-8 frame, but the eight-year veteran is doing what he always does. A flamethrower from deep, liable to launch from 30 feet. Even without an ankle-breaking handle, the savvy scorer can always create in a pinch, bumping and grinding his way to the rim or shifting into one-legged midrange fallaways. Few around the league, though, expected to find the Croatian in this environment, as… Source link
Read More »Apple’s Web Search Technology Chief Returns to Google — The Information
In late 2018, Apple boosted its development of a web search engine by buying Laserlike, a startup founded by a trio of former Google search engineers to recommend websites to people based on their interests and browsing history. Four years later, Laserlike’s founders have returned to Google, according to a person with knowledge of the move, dealing a potential blow to the Apple team quietly developing search capabilities that might compete head-on with Google’s. At Apple, Laserlike… Source link
Read More »Inflation data raises doubts about whether Fed will ‘stay the course’: Morning Brief
This article first appeared in the Morning Brief. Get the Morning Brief sent directly to your inbox every Monday to Friday by 6:30 a.m. ET. Subscribe Friday, November 11, 2022 Today’s newsletter is by Jared Blikre, a reporter focused on the markets on Yahoo Finance. Follow him on Twitter @SPYJared. Read this and more market news on the go with Yahoo Finance App. Stocks and bonds had an especially bullish reaction to new data out Thursday showing that inflation continues to moderate after… Source link
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