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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

The Brooklyn Nets have suspended Kyrie Irving five games without pay, the team announced Thursday, after a turbulent week in which the All-Star posted a link to an antisemitic video on Twitter and declined to apologize. After reportedly spending the last several days trying to help Irving understand the film contained “deeply disturbing antisemitic hate,” the Nets said they were “dismayed” Irving had failed to say he holds no antisemitic beliefs when asked on Thursday and such a failure made… Source link

The Brooklyn Nets have suspended Kyrie Irving five games without pay, the team announced Thursday, after a turbulent week in which the All-Star posted a link to an antisemitic video on Twitter and declined to apologize. After reportedly spending the last several days trying to help Irving understand the film contained “deeply disturbing antisemitic hate,” the Nets said they were “dismayed” Irving had failed to say he holds no antisemitic beliefs when asked on Thursday and such a failure made… Source link

Chipotle (CMG) has no plans to start offering McDonald’s-like value meals to entice lower-income consumers back to its restaurants after implementing a series of inflation-driven price hikes this year. “We don’t think Chipotle is the brand where somebody is looking for a dollar menu or bundle meal,” Chipotle CFO Jack Hartung said on Yahoo Finance Live (video above). “They look for customization. Most customers get the same exact entree every single time, and that’s what they crave.” Chipotle… Source link

Comment on this story Comment Hi all, Gerrit De Vynck here. I’m a tech reporter for The Post out in San Francisco. You can follow me on Twitter at @GerritD.  Lawsuit challenges Google’s claim that its ‘Incognito mode’ protects users’ privacy It can be hard to keep track of all the lawsuits against Google. The Department of Justice filed one in 2020 and might have another one coming soon. Texas has at least two. Arizona recently settled theirs with the search giant for $85 million. And

Facebook parent company Meta Platforms (META) stock is getting cooked as the technology company spends money manufacturing virtual reality hardware, generating awareness, and finding friends for a future in the metaverse. The advertising budgets of its customers are tightening as companies restructure costs amid macroeconomic challenges — which even leads an optimistic analyst to say the third quarter for Meta Platforms is ‘make or break’. “I think the stock is back to questions around,… Source link

A key component propping up consumer prices is cooling, but it’s not yet reflected in the government’s inflation measure, according to experts. The shelter component of the Consumer Price Index — which includes rent and owners’ equivalent of rent — makes up 30% of overall inflation and 40% of core CPI, which excludes food and energy prices. Real-time data is showing softening rents, but the survey used to determine shelter prices lags current pricing. That disconnect could pose a problem… Source link

The rout in various asset markets at the hands of the Federal Reserve may not be over, warned former Wall Streeter and current Galaxy Digital CEO Mike Novogratz. “The bear case is we’ve got two-to-six months left of this pain,” Novogratz said on Yahoo Finance Live (video above). “The bull case is the market starts breaking. We’re seeing a lot of breakage, not necessarily in crypto but in the rest of the world.” Novogratz, who began his career at Goldman Sachs in 1989, didn’t rule out seeing… Source link

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 September 23, 2022 Today’s newsletter is by Julie Hyman, anchor and correspondent at Yahoo Finance. Follow Julie on Twitter @juleshyman. Who else is sick of talking about the Fed? Of course, the Federal Reserve and its battle against inflation using higher interest rates is vitally important. But I need a break. So, on to another crucial question:… Source link

Salesforce Chair and Co-CEO Marc Benioff and his team are serious about expanding profit margins after years of making big acquisitions of Mulesoft, Tableau, and Slack. “For us, I think that the market doesn’t fully appreciate how committed we are to growth and margins,” Benioff told Yahoo Finance Live at the software giant’s Dreamforce conference in San Francisco before reeling off several recent initiatives by the company. Benioff also didn’t rule out making large deals in the future, Source link