FTX founder Sam Bankman-Fried has revealed plans to start a new business venture just weeks after his cryptocurrency exchange spectacularly collapsed. In an interview with the BBC published on Saturday, the 30-year-old—who is facing a number of civil lawsuits brought against both him and his failed company—said he would “give anything” to be able to set up a…
Sam Bankman-Fried Reveals Plans to Launch New Business After FTX Collapse
Rising Electric Vehicle Production Costs May Lead to 1,350 Layoffs at Illinois Plant
December 11, 2022
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Business & MarketsCompanieseconomyelectric vehicle supply chainenergyEV problemsEV production costsIllinoisInvestmentLocal NewsMarketsRegional-Local NewsStellantisUSUS News
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Over a thousand employees at Stellantis’s assembly plant in Illinois are potentially set to lose their jobs as the company struggles with rising manufacturing costs. The Belvidere plant employs around 1,350 workers and is a site that manufactures the Jeep Cherokee SUV. Stellantis plans to indefinitely halt operations at the plant, which will result in…
Automaker Stellantis to Idle Illinois Plant, Citing Rising Electric Vehicle Production Costs
December 11, 2022
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Business & MarketsCompanieseconomyelectric vehicle supply chainenergyEV problemsEV production costsIllinoisInvestmentLocal NewsMarketsRegional-Local NewsStellantisUSUS News
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Automaker Stellantis will indefinitely idle an assembly plant in Illinois that employs around 1,350 workers, the company said, citing the challenge of rising costs related to the electric vehicle (EV) market and other factors. The site, which will be idled beginning in February 2023, manufactures the Jeep Cherokee SUV. Stellantis, the parent company of Chrysler, Dodge,…
Workers Protest at 15 Major US Airports Demanding Higher Wages, Benefits
Demonstrations or strikes were seen in many U.S. airports on Thursday as airport employees sought better wages and conditions. Worker unions held demonstrations or formal strikes at 15 major airports. Employees protesting held jobs such as cabin cleaners, baggage handlers, janitors, and security guards. On-site rallies were held in Dallas, Los Angeles, Miami, New York…
Wholesale Inflation in US Further Slowed in November to 7.4 Percent
WASHINGTON—Wholesale prices in the United States rose 7.4 percent in November from a year earlier, a fifth straight slowdown and a hopeful sign that inflation pressures across the economy are continuing to cool. The latest year-over-year figure was down from 8 percent in October and from a recent peak of 11.7 percent in March. On…
Co-founder of NFT Platform Blockparty Charged With Fraud
The former chief technology officer of Blockparty was arrested on Wednesday after U.S. prosecutors alleged he stole more than $1 million in cash and cryptocurrency from the company, which operates a marketplace for non-fungible tokens. Rikesh Thapa, 28, of San Diego, California, co-founded the company in 2017 and left it in 2019 after refusing to…
Keystone Pipeline Shut After 14,000-Barrel Oil Spill in Kansas
Canada’s TC Energy shut its Keystone pipeline in the United States after more than 14,000 barrels of crude oil spilled into a creek in Kansas, making it one of the largest crude spills in the United States in nearly a decade. The cause of the leak, which occurred in Kansas about 20 miles (32 kilometers)…
Exxon, Chevron to Spend Billions More on Oil Projects Next Year
HOUSTON—The two largest U.S. oil companies—Exxon Mobil Corp. and Chevron Corp.—disclosed plans to increase outlays on energy projects next year amid high oil demand and prices. While spending more, it will be less than half the combined $84 billion they spent in 2013, when oil prices often traded above $100 per barrel as it has…
Turkey Oil Tanker Logjam Snarls Russia Oil Sanctions
ISTANBUL—Turkey emerged as a critical stumbling block to a complex international plan to deprive Russia of wartime oil revenues as the number of tankers waiting to exit the Black Sea through Turkish straits continued to rise on Friday. Ankara has declined to scrap a new insurance inspection rule it implemented at the beginning of the…
North Carolina Treasurer Wants BlackRock CEO Larry Fink to ‘Resign or Be Removed’
December 9, 2022
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BlackRockBusiness & MarketscongressDemocratseconomic policieseconomyenergyEnvironmentESGExecutive BranchFeatured TopicsFederal-State RelationsGold and CommoditiesLarry FinkMarketsNorth CarolinaPolicies & ImpactsPoliticsRepublicansSciencestocksUSUS News
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You might call it the “battle of BlackRock.” The conflict, which pits Republican officials in states across the country against the world’s largest asset manager, has only intensified in recent months. Just days ago, Florida became the latest state to pull money from BlackRock—in its case, $2 billion in state-controlled assets. The state’s chief financial…
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