Financial markets Archives -

FTX was run as former CEO’s ‘personal fiefdom’, lawyers say | Business and Economy News

Leave a Comment / Economy / By sadsadkari

FTX was run as a “personal fiefdom” of former CEO Sam Bankman-Fried, lawyers for the collapsed crypto exchange said during its first bankruptcy hearing as they detailed ongoing challenges such as the hacks and important missing assets. In the most publicized crypto explosion to date, FTX filed for protection in the US after traders withdrew …

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Has the luxury watch market reached its peak?

Leave a Comment / Markets / By sadsadkari

Earlier this fall, vintage watch dealer Eric Wind was concerned about the state of his industry. Pre-owned watches have posted record performances since 2020, with the most sought-after pieces – such as the Rolex Daytona and the Patek Philippe Nautilus 5711 – trading at three or four times their retail price at their peak this …

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Qatar braces for FIFA World Cup stock market boom | News World Cup Qatar 2022

Leave a Comment / Markets / By sadsadkari

Doha, Qatar – Qatar is bracing for a boom in the FIFA World Cup stock market as the country’s stock market is poised to benefit from the colossal event ahead. With more than $4 billion in foreign inflows in the first 10 months of this year alone, stock market experts say Qatar’s stock market, like …

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US jobless claims fall, housing market suffers | Business and Economics News

Leave a Comment / Markets / By sadsadkari

The number of Americans filing new claims for jobless benefits fell last week, showing widespread layoffs remain low despite a surge in tech job cuts raising fears of an impending recession. The US Department of Labor’s weekly unemployment claims report, released Thursday and giving the most recent data on the health of the economy, suggested …

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Musk defends his $ 56 billion salary package at Tesla | Business and Economics News

Leave a Comment / Economy / By sadsadkari

Elon Musk told a court he was completely focused on Tesla in 2017 when the electric car maker was in ‘crisis’ as he tried to refute claims that his $56 billion salary package was based on easy performance goals and approved by a compliant board. of directors. Tesla shareholder Richard Tornetta sued Musk and the …

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Trial begins over Tesla boss Musk’s $56 billion pay package | Business and Economy News

Leave a Comment / Economy / By sadsadkari

A lawsuit over shareholder allegations that Tesla CEO Elon Musk’s $56 billion salary package was based on easily attainable performance goals, and that investors were duped into approving, has begun, Musk due to take a position later this week. A Tesla shareholder hopes to prove in the five-day trial that began Monday that Musk used …

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Lula’s honeymoon in Brazil with investors before starting | Business and Economics News

Leave a Comment / Economy / By sadsadkari

Investors soured on his public commitment to prioritizing social spending over fiscal integrity and delays in appointing his economic team. Investors are increasingly pessimistic that Brazil’s President-elect Luiz Inacio Lula da Silva will govern with fiscal discipline, as the country’s central bank chief likened a market sell-off to a “Liz Truss moment.” for Brazil”. Brazil’s …

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Amazon warns costs could eviscerate profits, shares tumble | Business and Economics News

Leave a Comment / Economy / By sadsadkari

Amazon’s efforts to boost revenue may not pay off as inflation and falling consumer demand weigh on profits. Amazon.com Inc has warned that costs could eviscerate its profits for the current quarter as early holiday marketing does little to drive sales growth while labor and delivery expenses continue to swell. Shares fell 19% in after-hours …

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As Meta Revenue Decline Accelerates, Stocks Fall 14% | Business and Economy News

Leave a Comment / Economy / By sadsadkari

A weak holiday quarter forecast knocked about $40 billion off Meta’s market value in the extended trade. Facebook’s parent company, Meta Platforms Inc, forecast a weak holiday quarter and significantly more losses on Metaverse investments next year, sending shares down 14%. Wednesday’s forecast knocked about $40 billion off its market value in an extended trade. …

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Cost overruns result in unexpected large loss for Boeing | Business and Economy News

Leave a Comment / Economy / By sadsadkari

The aircraft manufacturer is trying to emerge from the overlapping crises of COVID-19 and the grounding of its best-selling model. Boeing Co unexpectedly reported a bigger loss in the third quarter of 2022 as cost overruns led to heavy losses in its ailing defense business, underscoring the challenge the company faces to turn around its …

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