The collapse of FTX has sent shockwaves through the cryptocurrency industry. The price of bitcoin and other major digital coins have fallen sharply as problems at FTX emerged. Jakub Porzycki | Nurphoto | Getty Images Three people were indicted for an identity-theft conspiracy that allegedly included the $400 million hack in late 2022 of doomed … Read more
Fahmi Quadir, chief investment officer and founder of Safkhet Captial LP, speaks during the Context Leadership Summit in Las Vegas, Nevada, U.S., on Wednesday, May 9, 2018. Bridget Bennett | Bloomberg | Getty Images WASHINGTON — Short seller Fahmi Quadir has found her new target: The $2 billion market cap Adtalem Global Education, a publicly … Read more
Federal Trade Commission building Jeff Greenberg | Universal Images Group | Getty Images WASHINGTON — The Federal Trade Commission on Friday announced that it fined Kubota, one of the world’s largest tractor manufacturing companies, $2 million for mislabeling some of its replacement parts as “Made in the USA.” “Today’s settlement includes the largest civil penalty … Read more
WASHINGTON — Treasury Secretary Janet Yellen praised the positive economic growth numbers on Thursday as a benefit for the middle class. “Though some forecasters thought a recession last year was inevitable, President [Joe] Biden and I did not,” Yellen said in a visit to the Economic Club of Chicago. “Instead of contracting, the economy has … Read more
The U.S. Navy is encountering a tenacious threat in the Red Sea. The Iran-backed Houthi rebels have launched wave after wave of low-cost precision weapons at vessels transiting the area, including attacks on U.S. warships themselves. “That’s one of the things [that] the Red Sea sort of demonstrates … we never know where the maritime … Read more
Michael Whitaker, nominee to be the next administrator of the Federal Aviation Administration (FAA), testifies during a Senate Committee on Commerce, Science, and Transportation hearing on Capitol Hill October 4, 2023 in Washington, DC. The FAA has been without a Senate-confirmed administrator for 18 months. (Photo by Drew Angerer/Getty Images) Drew Angerer | Getty Images … Read more
Alaska Airlines has been having a tough time as of late. Back in October of 2023, an off-duty Alaska pilot tried to shut off a plane’s engines mid-flight while he was on mushrooms, and earlier this month, a door plug ripped from the fuselage of a Boeing 737-Max 9 while the plane was 16,000 feet … Read more
Jobseekers could see a more cautious, competitive labor market in 2024 as employers slow hiring and hand out smaller raises — but some roles offer brighter prospects than others. Chief growth officer, sustainability analyst and artificial intelligence consultant are among the most in-demand roles companies are hiring for in the U.S., according to new research … Read more
A worker picks up trash in front of a new logo and the name ‘Meta’ on the sign in front of Facebook headquarters on October 28, 2021 in Menlo Park, California. Justin Sullivan | Getty Images WASHINGTON — A new legal filing about child exploitation on Meta‘s Facebook and Instagram apps alleges a 2021 internal … Read more
The Consumer Financial Protection Bureau headquarters in Washington. Samuel Corum/Bloomberg via Getty Images WASHINGTON — The Consumer Financial Protection Bureau on Wednesday unveiled long-awaited changes to how the nation’s biggest banks structure overdraft protection plans. The independent watchdog agency said the new rule closes a loophole that for decades has exempted overdraft loans from the … Read more
