Business

San Francisco could lose around $200 million in property tax revenue by 2028 because offices are emptied as people work from home, in the worst-case scenario outlined in a report by the city’s chief economist Ted Egan. The center of the technology industry lists job postings in the records. They could rise to about 31% by the fourth quarter of…

Tech companies had a dream run through 2020 and 2021, setting new records and driving stock values ​​to all-time highs. But this year, those same companies wiped out nearly half of their early-pandemic-era profits. With headline inflation at nearly a 40-year high and lackluster stock performance, tech companies have announced a spate of layoffs. Meta has laid off 11,000 employees,…

Amazon has begun mass layoffs from its corporate ranks, becoming the latest tech company to shed its workforce amid mounting concerns about the broader economic environment. On Tuesday, the company told regional authorities in California that it was laying off about 260 employees at various facilities that employ data scientists, software engineers and other company employees. These job cuts would…

FTX was actually wrong. Sam Bankman-Fried, the founder and now former CEO of cryptocurrency exchange FTX, wrote on Nov. 7 that his company and assets were “fine” in a since-deleted tweet. In the same tweet, he claimed that his exchange “has enough to cover all customer holdings” because it doesn’t invest “customer assets.” Days later, Bankman-Fried was spectacularly refuted. His…

A group of researchers found a potential vaccine to block fentanyl from entering the brain. Fentanyl, a synthetic opioid 50 to 100 times stronger than morphine, was introduced as a pain reliever in the 1960s; However, overdoses of the opioid have increased dramatically in recent years. The number of deaths from synthetic opioids, excluding methadone, increased by over 50% between…

A string of high-profile celebrities, including comedian Larry David and tennis star Naomi Osaka, are taking a hit to their reputations after backing bankrupt crypto exchange FTX. Now their wallets could also take a hit. On Wednesday, Oklahoma’s Edwin Garrison filed a class-action lawsuit on behalf of FTX users, describing the company as a “Ponzi scheme” and saying the celebrities…

Thanks to a COVID-19 relief bill, borrowers who made payments on their federal student loans during the public health emergency can request a refund if needed. And when Biden announced his plan to forgive up to $10,000 to $20,000 per borrower, many who had already paid their balance below that limit demanded reimbursement. Now, with the fate of the program…

Warren Buffett’s right-hand man and Berkshire Hathway vice chairman Charlie Munger has been a vocal critic of cryptocurrencies, previously likening them to “venereal diseases” and saying that anyone selling crypto is either “delusional or evil.” Following FTX’s collapse earlier this month, Munger amplifies those criticisms. “It’s part fraud and part deception,” he told CNBC Squawk Pod. “It’s a bad combination.…

A few months ago, I realized I was having a “horrible, horrible, not good, very bad day.” As I paused to think about why or what I had done differently in my routine, I realized I had skipped my normal morning workout. Whether it’s walking my daughter to kindergarten, hopping on my peloton, or doing sun salutations on my yoga…

Tesla CEO Elon Musk took the witness stand Wednesday to defend himself in a shareholder lawsuit against a compensation package awarded to him by the company’s board that is potentially worth more than $55 billion. Musk denied that he dictated the terms of the compensation package or attended meetings where the plan was discussed by the board, its compensation committee,…