Business

How $32B crypto company FTX collapsed and sent digital currency reeling

Friday, November 11 by ABC News

(NEW YORK) -- The cryptocurrency sector is reeling after the collapse of FTX, a digital currency exchange valued earlier this year at $32 billion and made famous by a Super Bowl ad starring comedian Larry David.Concerns of financial instability at FTX -- a top... Read More.

Microsoft co-founder’s art collection sells for record $1.5 billion at auction

Thursday, November 10 by ABC News

(NEW YORK) -- Sixty artworks formerly owned by Paul G. Allen, the co-founder of Microsoft, were sold at auction for more than $1.5 billion at Christie's on Wednesday.The sale established Allen's trove as "the most valuable private collection in history," the auction house said... Read More.

Inflation cools but stays near 40-year high

Thursday, November 10 by ABC News

(WASHINGTON) -- Consumer prices are up 7.7% over the year ending in October, but that's a significant drop from the 8.2% inflation rate a month prior and below 8% for the first time since February.On a monthly basis, the consumer price index increased at... Read More.

Forecasters expect inflation to have cooled slightly in October

Thursday, November 10 by ABC News

(WASHINGTON) -- Investors and consumers will closely watch the release of October inflation data on Thursday, little more than a week after the Federal Reserve intensified its fight to dial back inflation last matched four decades ago.The Fed last week raised its short-term borrowing... Read More.

Deep-red Nebraska joins liberal states in adopting $15 minimum wage

Thursday, November 10 by ABC News

(NEW YORK) -- Nebraska is projected to approve a $15 minimum wage for workers amid a nationwide push for wage hikes that has predominantly taken hold in liberal states like New York, California and Illinois.The referendum, called Initiative Measure 433, garnered support from 59%... Read More.

Adidas cuts profit guidance amid Kanye West fallout

Wednesday, November 9 by ABC News

(NEW YORK) -- Adidas on Wednesday lowered its profit projections for the full year, saying its break-up with Yeezy is expected to affect its bottom line during the important holiday shopping season.Investors and shoe enthusiasts had been expected to closely watch the Adidas earnings... Read More.

How Twitter’s $8 verification plan works and why it’s facing criticism

Wednesday, November 9 by ABC News

(NEW YORK) -- Elon Musk, who acquired Twitter late last month, has already made dramatic changes: firing top executives, laying off half of the company's staff and forming a content moderation council that will review account reinstatements.However, the most consequential policy shift may be... Read More.

Mark Zuckerberg announces Meta will layoff 11,000 employees

Wednesday, November 9 by ABC News

(NEW YORK) -- Mark Zuckerberg has announced that Meta will be laying off 11,000 of its employees -- an estimated 13% of its workforce -- and will also be taking “a number of additional steps to become a leaner and more efficient company.”In a... Read More.

Inflation has helped decide elections worldwide. Here’s what that means for the midterms.

Tuesday, November 8 by ABC News

(NEW YORK) -- As the midterm elections begin, sky-high prices for essentials like food and gasoline have become a major line of criticism leveled at Democrats, who control the White House and Congress.In fact, the issue may be enough to drive the incumbent party... Read More.

Retailers seek new ways to win over shoppers this holiday season

Monday, November 7 by ABC News

(NEW YORK) -- Holiday shopping is underway and retailers have already started offering additional sales and discounts earlier than ever in an attempt to win over consumers, who are facing near-record high inflation this season.With 73% of consumers expecting higher prices this holiday season,... Read More.

‘Selling dreams’: Lamborghini CEO on perfecting the brand’s first electric car

Monday, November 7 by ABC News

(NEW YORK) -- Supercar maker Lamborghini cannot keep up with demand.The Italian marque said Monday it has sold 7,430 vehicles in the first nine months of the year and is on track to beat its 2021 sales record of 8,405 units.Deliveries rose in every... Read More.

Apple iPhone models delayed by China’s COVID restrictions

Monday, November 7 by ABC News

(NEW YORK) -- Apple said on Sunday that COVID-19 restrictions at an iPhone factory in China have "temporarily impacted" shipments of its flagship phone.The world's most valuable company said a facility in Zhengzhou run by Foxconn, one of Apple's largest suppliers, was "currently operating... Read More.

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How $32B crypto company FTX collapsed and sent digital currency reeling

Microsoft co-founder’s art collection sells for record $1.5 billion at auction

Inflation cools but stays near 40-year high

Forecasters expect inflation to have cooled slightly in October

Deep-red Nebraska joins liberal states in adopting $15 minimum wage

Adidas cuts profit guidance amid Kanye West fallout

How Twitter’s $8 verification plan works and why it’s facing criticism

Mark Zuckerberg announces Meta will layoff 11,000 employees

Inflation has helped decide elections worldwide. Here’s what that means for the midterms.

Retailers seek new ways to win over shoppers this holiday season

‘Selling dreams’: Lamborghini CEO on perfecting the brand’s first electric car

Apple iPhone models delayed by China’s COVID restrictions

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