Business

FTX co-founder Sam Bankman-Fried, who has been imprisoned in the Bahamas, has agreed to be sent to the US to face multiple criminal charges. Bankman-Fried had been expected to drop his fight against extradition. A hearing was scheduled for Wednesday in Nassau to consider the matter. A representative for the former FTX CEO did not immediately respond to a request…

“The Twitter situation is stirring things up,” he said financial times this week in response to a question about whether mending tight cleavages would be more of a technical challenge or a human challenge. “That instead of a series of objective measures being taken by a broad group of people, you’re seeing some kind of seat-of-the-pants activity.” In short, Gates…

Even at age 67, Bill Gates is still finding new reasons to give away most of that wealth. The Microsoft co-founder is one of the world’s most prolific philanthropists and has said he would like to donate “practically everyone” of his $103 billion fortune and falls from the list of the richest people in the world. He’s called it a…

Senator Elizabeth Warren (DMA) has sent a letter to Tesla’s board of directors accusing CEO Elon Musk of “inevitable conflicts” and potential “misappropriation of company assets” in connection with his $44 billion acquisition of Twitter. Warren has expressed concern about how Tesla’s board of directors is treating Musk since he became CEO of Twitter, claiming that his actions may not…

But the strong labor market that gave workers a firm hold over their bosses seems to be slowly receding. Last month, unemployment rose to 3.7% from 3.4% six months earlier amid widespread layoffs (mostly in the tech sector). But even if it wasn’t what it was earlier this year, it’s still holding up: October saw 10.3 million job vacancies, almost…

Waking up last week to the news of Sam Bankman-Fried’s arrest and criminal charges was a huge relief. This individual, once a leading and inspirational visionary of crypto’s potential to create financial freedom, broke public trust. Since the collapse of FTX, my algorithmic trading tools company, which has never handled client funds but has helped them execute trades on platforms…

Elon Musk is asking Twitter users if he should step down as the social media company’s CEO. “Should I resign as Twitter boss? I’ll stick to the results of this poll,” Musk said tweeted on Sunday evening, with voting for 12 hours. Musk had promised to find a new CEO for Twitter after taking office in November. Still, he remained…

Paul Graham, a widely respected venture capitalist who has backed Elon Musk’s efforts on Twitter, had his Twitter account suspended on Sunday. The suspension was followed by a tweet in which Graham wrote: “This is the last straw. I give up. You can find a link to my new Mastodon profile on my page.” In this tweet he linked to…

The Vatican has impeached an anti-abortion US priest, Frank Pavone, for calling “blasphemous communication on social media” and “continued disobedience” by his bishop. A letter received on Sunday from Vatican Ambassador to the US Archbishop Christophe Pierre to US bishops said the decision against Pavone, who heads the anti-abortion group Priests for Life, was made on November 9 and that…

Investors are celebrating the end of 2022 after inflation has skyrocketed and the Federal Reserve’s aggressive rate hikes have made it a brutal year for stocks. The S&P 500 is down 20% year-to-date, and with bonds simultaneously enjoying their worst year on record, there’s no reason to hide. After more than a decade of strong returns following the Great Financial…