Business
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Tech layoffs aren’t the canary in the coal mine for the US job market, says Morgan Stanley
Tech layoffs aren’t the canary in the coal mine for the US job market, says Morgan Stanley
According to Morgan Stanley, the layoff of thousands of employees in the technology sector is not a sign that the tide is turning for American workers. Huge rounds of layoffs have been waged at tech companies like Lyft, Twitter, Stripe, Meta and Amazon in recent months, while some economists have argued that only higher unemployment can solve America’s persistent inflation…
New FTX CEO hired to clean up SBF’s mess is being paid $1,300 an hour
New FTX CEO hired to clean up SBF’s mess is being paid $1,300 an hour
John Ray, the veteran expert brought in to clean up the debris of collapsed crypto exchange FTX, is charging $1,300 an hour for his labor, court documents filed Sunday show. Restructuring experts are trying to keep paying executives’ wages despite the freeze on company funds and the lack of clear records of who is owed what. Legal documents filed in…
Bob Iger joins the ranks of “Boomerang CEOs” with his return to Disney
Bob Iger joins the ranks of “Boomerang CEOs” with his return to Disney
With the reinstatement of Bob Iger, the board of directors of The Walt Disney Company is pursuing an established strategy to save a faltering company: bring back the last successful CEO. On Sunday night, Disney’s board of directors announced that Iger would return as Disney’s CEO, replacing current CEO Bob Chapek, who replaced Iger himself in 2020. Iger now joins…
Fears of a nuclear accident mount when Ukraine’s Zaporizhia power plant is damaged
Fears of a nuclear accident mount when Ukraine’s Zaporizhia power plant is damaged
Violent explosions shook the area around Ukraine’s Zaporizhia nuclear power plant last day, causing damage to the site, the United Nations Atomic Energy Agency said. Damage has been identified to several buildings and equipment, although so far none have been critical to nuclear safety and security, the International Atomic Energy Agency said on its website, citing plant management. More than…
Rivian safety breaches are being ignored by electric vehicle maker, US factory workers say
Rivian safety breaches are being ignored by electric vehicle maker, US factory workers say
At least a dozen Rivian Automotive Inc. employees have accused the electric vehicle maker of safety violations at its Illinois plant, according to complaints filed with federal authorities. The complaints allege that the company ignored known hazards and reduced safety resources, forcing some workers to share respirators needed during the manufacturing process. They also describe a range of injuries, including…
The Biden admin will begin notifying approved student loan applicants
The Biden admin will begin notifying approved student loan applicants
Over the weekend, student loan borrowers who applied for President Joe Biden’s one-time student loan received emails that their applications were approved. But their loans won’t be forgiven anytime soon. US Secretary of Education Miguel Cardona confirmed that the emails were sent to approved applicants. He also said that those who have applied and have not yet received an email…
FTX case confirms view that ‘everything centralized’ is ‘suspicious’: Buterin
FTX case confirms view that ‘everything centralized’ is ‘suspicious’: Buterin
The collapse of FTX holds lessons for all crypto, according to Ethereum co-founder Vitalik Buterin. Buterin emphasized the stability of crypto’s so-called underlying technology, the blockchain, while also acknowledging the severe impact of the Sam Bankman-Fried crypto empire’s meltdown. In the days since FTX filed for bankruptcy, companies from BlockFi to Genesis to Gemini have been hit with the fallout.…
Christmas Gifting Guide 2022: The Best Meals and Meal Sets for Long-Distance Gifts
Christmas Gifting Guide 2022: The Best Meals and Meal Sets for Long-Distance Gifts
It used to be clumsy to give away money. If our current economic times are any indicator, those times are over. But what’s the next best thing to giving money? Meal. We all need it. We all love it. However, everyone has different tastes, dietary restrictions, allergies and the like. But there are more options — especially healthy ones —…
Musk’s “chainsaw” approach to Twitter won’t work: Chris Kelly
Musk’s “chainsaw” approach to Twitter won’t work: Chris Kelly
Elon Musk is “way overwhelmed” on Twitter and a “bullying management culture” won’t work there, says a former Facebook executive. Chris Kelly, an early investor in SpaceX, is “largely an Elon fan,” but said strategies that worked at Musk’s other companies aren’t being implemented at Twitter. Kelly made the comments on Big Ideas Live, a Sky News event that took…
Austin warns of nuclear weapons as a “hunting license” for autocrats
Austin warns of nuclear weapons as a “hunting license” for autocrats
US Secretary of Defense Lloyd Austin on Saturday warned Russia’s invasion of Ukraine heralds a world where nuclear-armed countries could threaten other nations, and said Beijing, like Moscow, aspires to a world where strength makes right. Austin made the remarks at the annual Halifax International Security Forum, which attracts defense and security officials from western democracies. “Russia’s invasion offers a…