SAN FRANCISCO — The epic collapse of wunderkind Sam Bankman-Fried’s $32 billion crypto empire, FTX, looks set to go down as one of the great financial debacles of all time. With a storyline full of celebrities, politicians, sex, and drugs, the future looks bright for producers of feature films and documentaries. But, to paraphrase Mark Twain, rumors of
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It’s a year for shopping prudently. Americans will spend between $942.6 billion and $960.4 billion this holiday season, according to projections from the National Retail Federation. That’s up from last year when holiday sales hit a record $889.3 billion, the trade association said. However, people are not willing to go as crazy this Black Friday
Get ready for long lines at the airport and traffic jams galore — just like old times. Airports and roads may be “jam-packed” this year, according to the American Automobile Association. It estimates that 53.6 million people will travel for the Thanksgiving weekend, reaching 98% of pre-pandemic Thanksgiving travel. The Transportation Security Administration said it
Netflix’s stocking is stuffed to overflowing in December, including a crop of Oscar-contending movies and the return of some fan-favorite series. Following a weeklong “sneak preview” theatrical release in November, “Glass Onion: A Knives Out Mystery” will start streaming on Netflix NFLX, +1.68% on Dec. 23. The sequel to writer/director Rian Johnson’s surprise 2019 hit
What does a bottoming process in a stock look like? In the case of microprocessor manufacturing giant Intel (NASDAQ:INTC), reaching rock bottom is bound to involve layoffs and a general sense of pessimism. The layoffs aren’t going to be pleasant, but they’re a sign that Intel’s management is doing what’s needed to turn the company around
The 2022 FIFA World Cup is underway and some of the best footballers on the planet spend four weeks competing for soccer’s ultimate prize. But this World Cup is ripe with controversy, largely due to its host country, Qatar; a Persian Gulf nation roughly the size of Connecticut that is holding the once-in-four-years soccer tournament
It’s getting ugly out there. That’s especially true in the tech sector, where a growing number of companies are undertaking mass layoffs. Heading into the end 0f the year, some technology companies have announced the biggest workforce reductions in their history as their businesses slow and they grapple with ongoing supply chain issues and persistent
Being let go is hard, especially with the cost of living on the rise, and talk of a recession looming. Earlier this month, Tesla founder TSLA, +1.22% Elon Musk fired 7,500 Twitter staff, representing nearly 50% of its global workforce, just days after he took over the social-media company in a $44 billion deal. Facebook’s
It’s been a tough year for tech firms, including hardware and software supplier Oracle (NYSE:ORCL). A recent round of Oracle layoffs, along with a pricey purchase of healthcare data company Cerner, has some ORCL stock investors feeling anxious. Yet, the layoffs are a necessary step to help slim Oracle down. Besides, the company’s cloud-business growth will
Dear Quentin, My father predeceased my mother, and she inherited their second home. My mother willed the house and property to my youngest brother and oldest brother. Neither is able to care for the house or property, and they have given me permission to fix it up and live there. The deeds are still in
It seems odd to be analyzing the best shipping stocks as recession concerns continue to pile up in 2022. Further, any recession will likely last well into 2023 and come with a much harder landing than the Federal Reserve would like. With shipping rates down from record levels, it’s also unsurprising that many shipping stocks
Don’t get mad at Thanksgiving dinner. Get tips on how to navigate inflation. The midterms are over, so perhaps it’s time to shelve political talk — especially if your dinner table is composed of family members from opposite sides of the political aisle. Democrats have held onto the Senate, while Republicans have regained control of
In a fresh development, Google and YouTube parent company Alphabet (NASDAQ:GOOG, NASDAQ:GOOGL) finally settled an ongoing investigation. That’s good news, and it bodes well for GOOG stock. Furthermore, an activist investor gave Alphabet some practical advice about how the company can cut costs. Hopefully, Alphabet’s management will consider implementing retrenchment measures soon. Big Tech has
Bond yields turned mixed on Monday as traders weighed worries about a Covid-19 lockdown in China against fears the Federal Reserve will remain determined to tighten policy aggressively. What’s happening The yield on the 2-year Treasury TMUBMUSD02Y, 4.526% was at 4.522%, up from 4.510% on Friday. Yields move in the opposite direction to prices. The yield
The Qatar World Cup, which is mired in controversy, kicked off Sunday with the host nation losing 2-0 to Ecuador after a glitzy opening ceremony that featured Morgan Freeman and K-Pop star Jung Kook. With the eyes of the world on Qatar, the opening ceremony at Al Bayt stadium in Al Khor was reminiscent of
The pandemic-fueled personal-computer boom has ended, so how will that affect demand and pricing for PCs and the retailers that sell them this holiday season? A sense of the fallout will be provided in the week ahead with results due from PC makers Dell Technologies Inc. DELL, +0.67% and HP Inc. HPQ, +0.17%, along with
For the first time ever, rich nations, including a top-polluting U.S., will pay for the climate-change damage inflicted upon poorer nations. These smaller economies are often the source of the fossil fuels CL00, -0.75%, minerals PICK, -0.20% and other raw materials behind the developed world’s modern conveniences and technologicial advancement, including many practices responsible for
The prospects for Rep. Kevin McCarthy’s tenure if he becomes Speaker of the House are grim, two outspoken lawmakers from both sides of the aisle said Sunday. In separate interviews Sunday, Rep. Adam Schiff, D-Calif., said McCarthy was a “weak leader” and predicted “chaos” among Republican leadership, while Rep. Adam Kinzinger, R-Ill., predicted McCarthy would
FTX owes its 50 largest creditors about $3.1 billion, the failed cryptocurrency exchange said in a bankruptcy court filing Saturday. The filing didn’t name the creditors, but it listed them as customers. Two creditors are each owed more than $200 million. FTX’s lawyers have said in all there could be more than one million creditors
Amazon’s Prime Video has a loaded lineup for the holidays, including the return of one of its biggest shows. That would be Season 3 of “Tom Clancy’s Jack Ryan” (Dec. 21), the the spy thriller starring John Krasinski, which is back after a three-year layoff. The new season sees Jack in a “Mission: Impossible”-type situation,