Month: June 2022
Fanatics CEO Michael Rubin selling ownership stake in Philadelphia 76ers, New Jersey Devils
Michael Rubin attends Fanatics Super Bowl Party on February 12, 2022 in Culver City, California. Shareif Ziyadat | Filmmagic | Getty Images Billionaire Fanatics CEO Michael Rubin announced Wednesday that he is selling his 10% stake in the parent company that owns the Philadelphia 76ers and New Jersey Devils, citing a conflict of interest with […]
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Bitcoin billionaire Sam Bankman-Fried bails out embattled crypto firms BlockFi and Voyager
With no central bank willing to come to the rescue, beleaguered crypto companies are turning to their peers for help. Billionaire crypto exchange boss Sam Bankman-Fried has signed deals to bail out two firms in as many weeks: BlockFi, a quasi-bank, and Voyager Digital, a digital asset brokerage. FTX, Bankman-Fried’s crypto exchange, agreed Tuesday to […]
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Stocks making the biggest moves midday: Nike, La-Z-Boy, Altria Group, Coinbase, Dow & more
People walk past a store of the sporting goods retailer Nike Inc. at a shopping complex in Beijing, China March 25, 2021. Florence Lo | Reuters Check out the companies making headlines in midday trading Wednesday. Nike — Shares of the athleticwear retailer fell more than 3% after Seaport downgraded the stock to neutral from […]
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National incident declared after UK health officials detect polio virus in London sewage samples
U.K. health authorities have said they are “urgently” investigating a rare poliovirus discovery in sewage samples in London. Picture Alliance | Getty Images U.K. health authorities have said they are urgently investigating a rare polio virus discovery in sewage samples in London, potentially putting Britain’s polio-free status at risk for the first time in almost […]
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Trump had a direct role in plan to install fake electors. Key takeaways from the 4th Jan. 6 hearing
Wandrea “Shaye” Moss, former Elections Department employee in Fulton County, Georgia, testifies, as her mother, Georgia election worker Ruby Freeman looks on, during the fourth public hearing of the U.S. House Select Committee to investigate the January 6, 2021 attack on the U.S. Capitol, on Capitol Hill in Washington, DC, U.S. June 21, 2022. Pool […]
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Louisiana governor signs bill criminalizing abortion providers if Roe overturned
Louisiana Gov. John Bel Edwards, testifies during the Senate Energy and Natural Resources Committee hearing to examine offshore energy development in federal waters and leasing under the Outer Continental Shelf Lands Act, in Dirksen Senate Office Building on Thursday, May 13, 2021. Tom Williams | Cq-roll Call, Inc. | Getty Images Gov. John Bel Edwards […]
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Powell tells Congress the Fed is ‘strongly committed’ to bringing down inflation
Jerome Powell, chairman of the US Federal Reserve, arrives to a Senate Banking, Housing, and Urban Affairs Committee hearing in Washington, D.C., U.S., on Wednesday, June 22, 2022. Ting Shen | Bloomberg | Getty Images Federal Reserve Chairman Jerome Powell told congressional lawmakers Wednesday that the central bank is determined to bring down inflation and […]
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Canada inflation rate gallops to near 40-year high, calls for supersized rate hike mount
The Bank of Canada raised interest rates to 1.5% from 1.0% this month and said it was ready to act “more forcefully” if needed to tame inflation. David Kawai | Bloomberg via Getty Images Canadian consumer prices increased in May at rates not seen since January 1983, surging past analyst forecasts, largely driven by pricey […]
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Raw material costs for electric vehicles have doubled during the pandemic
Workers inspect a Rivian R1T electric vehicle (EV) pickup truck on the assembly line at the company’s manufacturing facility in Normal, Illinois, US., on Monday, April 11, 2022. Jamie Kelter Davis | Bloomberg | Getty Images Raw material costs for electric vehicles more than doubled during the coronavirus pandemic, according to a new report Wednesday […]
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Mars says CEO Grant Reid is retiring and will be replaced by head of pet care unit
Grant Reid, president and chief executive officer of Mars Inc., speaks during a Bloomberg Businessweek Debrief event in New York, U.S., on Thursday, Jan. 10, 2019. Alex Flynn | Bloomberg | Getty Images Mars CEO Grant Reid is retiring after more than eight years in the role and will be replaced by the head of […]
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