In a discussion with Andrew Ross Sorkin of The New York Times, Sam Bankman-Fried blamed “huge management failures” and sloppy accounting for the collapse of the FTX cryptocurrency exchange.
Category: Stocks and Bonds
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Markets Await Powell Speech for Hints on Rates
In his final public remarks before a crucial Fed meeting, the central bank’s chair will deliver a speech and answer questions about the outlook for inflation, jobs and the economy.
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Stocks Drop as Economic Worries Weigh on Sentiment
After turmoil in China set a negative tone, a Fed governor suggested the market was underestimating the chance that the central bank would have to keep raising rates.
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The Week in Business: Shoppers Open Their Wallets
A shake-up at Disney. Scrutiny of Ticketmaster in the wake of chaos in Taylor Swift concert ticket sales. And coming up: Is hiring slowing?
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Elon Musk’s Twitter Role Puts Tesla Board Under New Scrutiny
Corporate governance experts say the electric-car maker’s directors may need to rein in the chief executive, with whom many have personal ties.
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News Corp Investors Raise Concerns About Proposed Merger With Fox
Concerned that a merger would undervalue News Corp, investors are asking a special committee of independent board members to look more skeptically at the proposal.
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The Week in Business: FTX’s Collapse
The turmoil at Twitter continues. The holiday shopping season officially begins, although retailers have already been running sales. And the Fed releases the minutes from its last meeting.
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Markets Hold Gains Despite Fed Warnings
Several Fed officials sought this week to temper investors’ enthusiasm over signs that inflation could be slowing.
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Elon Musk Testifies He Had Little Say in His Tesla Pay
The billionaire chief executive is testifying about a multibillion dollar compensation package the electric car company’s board put in place in 2018.
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Elon Musk Heads to Court to Defend His Billions in Tesla Pay
A shareholder is asking the court to void a 2018 compensation package that has paid the chief executive nearly $50 billion.
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Stocks Jump on Hopes of Lower Inflation
Lower-than-expected data on wholesale prices and resilient earnings from retailers were cheered by investors.