Crypto exchange FTX has initiated US bankruptcy proceedings and CEO Sam Bankman-Fried has resigned, after a liquidity crisis at the cryptocurrency group that has prompted intervention from regulators around the…
Category: Business News
USA: Musk halts Twitter’s coveted blue tick as impostors run amok
Twitter Inc paused its recently announced $8 blue tick subscription service on Friday as fake accounts exploded, and new owner Elon Musk brought back the “official” badge to some users…
US: President Biden concerned about Elon Musk’s international relations
The United States Federal Trade Commission (FTC) said on Thursday it was watching Twitter with “deep concern” after the social media platform’s top privacy and compliance officers quit, potentially putting…
Germany: KFC apologises for Nazi ‘Kristallnacht’ chicken promotion
KFC has apologised after sending a notification to German customers encouraging them to commemorate the Kristallnacht anti-Jewish pogrom with fried chicken and cheese. The fast food chain sent a notification…
UK: Economy shrinks as lengthy recession looms
The United Kingdom’s economy shrank in the three months to September at the start of what is likely to be a lengthy recession, underscoring the challenge for finance minister Jeremy…
Nigeria: Blast kills four in popular southeast market
At least four people have been killed and a dozen more injured following a blast at a popular market in Nigeria’s southeastern state of Anambra, a witness and official said.…
Belgium: Cost-of-living strike hits traffic, businesses
A nationwide strike over the cost of living increases caused by runaway inflation and enormous energy bill hikes linked to the war in Ukraine snarled traffic through much of Belgium…
USA: Cryptocurrencies see sharp decline as investors fret on FTX deal
Cryptocurrencies saw a second day of sharp declines on Wednesday, as investors continued to fret about the stability of the sector and the financial health of major exchange FTX despite…
USA: Meta cuts more than 11,000 jobs; biggest cull in its history
Facebook’s parent company, whose shares have lost more than two-thirds of their value, said it also plans to cut discretionary spending and extend its hiring freeze through the first quarter.…
USA: Tesla stock hits two-year low after boss Musk sells more shares
Tesla Inc shares have sunk to their lowest level in nearly two years after chief executive Elon Musk sold $3.95bn worth of shares in the electric-vehicle maker. The shares were…