business news
Nikola founder Trevor Milton stands trial on fraud charges, capping a stunning rise and fall
CEO and founder of U.S. Nikola, Trevor Milton speaks during presentation of its new full-electric and hydrogen fuel-cell battery trucks in partnership with CNH Industrial, at an event in Turin, Italy December 2, 2019. Massimo Pinca | Reuters The founder of electric semitruck maker Nikola Motor is standing trial on fraud charges related to statements […]
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Tech stocks crushed in sector selloff
A trader is effective at the New York Inventory Trade NYSE in New York, on Aug. 26, 2022. Xinhua Information Company | Getty Pictures The 6 premier tech U.S. tech businesses misplaced much more than $500 billion in worth Tuesday following an unexpectedly higher August inflation report sent tech stocks tumbling. The buyer rate index […]
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Casino company Hard Rock to spend $100 million to raise employees’ wages
Cheers and tears — that’s how thousands of Hard Rock workers reacted when they learned their paychecks are about to get a lot bigger. As inflation surges and recession fears linger, Hard Rock International and Seminole Gaming will spend more than $100 million to raise wages significantly for half of its U.S. workforce, more than […]
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Gundlach on crypto: ‘I’d definitely not be a buyer today’ all through sector washout
DoubleLine CEO Jeffrey Gundlach cautioned Tuesday in opposition to shopping for cryptocurrency in the present marketplace for the reason that of the place the Federal Reserve is in its desire-price cycle. “I’d definitely not be a consumer right now,” Gundlach mentioned at the Future Proof prosperity conference in Huntington Beach front, Calif. He spoke as […]
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NBA suspends Suns owner Robert Sarver for a year over workplace harassment, use of racial slurs
Robert Sarver of the Phoenix Suns takes notes inside the lottery room during the 2017 NBA Draft Lottery at the New York Hilton in New York, New York. Jennifer Pottheiser | National Basketball Association | Getty Images The NBA suspended Phoenix Suns and Mercury owner Robert Sarver for one year and fined him $10 million […]
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Warner Bros. Discovery CFO calls company’s HBO Max and Discovery+ ‘underpriced,’ suggesting price hikes may be coming
‘House of the Dragon’ series logo displayed on a phone screen and HBO Max website are seen in this illustration photo taken on August 16, 2022. Jakub Porzycki | Nurphoto | Getty Images Streaming service subscriber growth may be slowing, but that doesn’t mean prices won’t keep rising. HBO Max and Discovery+, Warner Bros. Discovery’s […]
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Uber CEO suggests the company may perhaps actually benefit from climbing inflation
A vital August inflation report sent shares tumbling Tuesday right after the customer value index obtained .1% for the month irrespective of slipping gasoline prices. But the report is not all negative for organizations like Uber, which stated its offer facet may well basically be benefiting from the inflationary environment. CEO Dara Khosrowshahi informed CNBC’s […]
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Ferrari just revealed its first-ever 4-door sports car, a high-riding and powerful coupe called the Purosangue
Ferrari Purosangue Source: Ferrari Ferrari on Tuesday revealed its new Purosangue, the 75-year-old sports car maker’s first-ever four-door production vehicle. The Purosangue looks like an SUV, akin to other luxury-sports SUVs from brands like Porsche and Maserati. But despite its size, shape and higher stance, the company insists that the Purosangue – which means “thoroughbred” […]
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Twitter shareholders vote to approve Elon Musk’s bid to acquire the company
Twitter shareholders voted Tuesday to approve Elon Musk’s $44 billion bid to invest in the company and acquire it private. The vote will come as Musk seeks to scrap the deal, casting doubt onto Twitter’s self-claimed percentage of fake accounts and alleging the organization was not as forthcoming as it should really have been with […]
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Bitcoin slumps 7% just after inflation report brings about traders to flee dangerous assets
Representations of cryptocurrency Bitcoin are witnessed in this illustration, August 10, 2022. REUTERS/Dado Ruvic/Illustration Dado Ruvic | Reuters Bitcoin fell Tuesday, following stocks reduce just after the August customer selling price index report came in larger than expected. The cryptocurrency drop 7.31% to $20,804.00 at 12:45 p.m. ET. The declining rate is a reversal of […]
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