Business

Conviction of Elizabeth Holmes for Theranos Crimes: Live Updates

A federal judge was set to decide on Friday whether disgraced Theranos CEO Elizabeth Holmes should serve a lengthy prison sentence for deceiving investors and endangering patients while peddling fake blood-testing technology. Holmes sentencing in the same San Jose, California courtroom where she was found guilty of four counts of investor fraud and conspiracy January …

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Cost-cutting customers come to us in a tough economy

Palo Alto Networks is seeing tailwinds from customers looking to cut costs amid the deteriorating economy, CEO Nikesh Arora said Thursday. “The silver lining in the current environment is that we’re having more consolidation conversations – because all of a sudden the number one priority besides being secure is, ‘Can you help me do without …

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Inside Twitter as ‘mass exodus’ of staff throws platform’s future into uncertainty

New York CNN Business — Death is in the air on Twitter. On Thursday night on the platform, where #RIPTwitter was trending globally, users wrote what they feared would be their last posts, bidding worried goodbyes and listing other (more stable) social media platforms where they can yet to be found. They were reacting to …

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Fed’s Collins expresses hope inflation can be brought under control without hitting jobs

Susan Collins, Boston Federal Reserve Source: Federal Reserve Bank of Boston Boston Federal Reserve Chair Susan Collins said she was confident Friday that policymakers can get inflation under control without hurting jobs too much. “By raising rates, we aim to slow the economy and better balance labor demand with supply,” Collins said in prepared remarks …

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ECB begins major cash clean-up as banks repay 296 billion euros in loans

Reimbursement much lower than expected The key money market rate drops after the announcement Moving seen as a first step towards the unwinding of obligations FRANKFURT, Nov 18 (Reuters) – Eurozone banks are expected to repay nearly 300 billion euros ($310 billion) in loans to the European Central Bank next week, the ECB said on …

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Fired SpaceX employees accuse the company of violating labor laws

NEW YORK (AP) — Several SpaceX employees who were fired after circulating an open letter decrying CEO Elon Musk’s behavior have filed a lawsuit accusing the company of violating labor laws. The complaint, filed Wednesday with the National Labor Relations Board, details the consequences of what allegedly happened inside SpaceX after employees circulated the letter …

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FTX managers used emojis to approve official spending, says new CEO

FTX employees claimed expenses through chat messages, its new CEO said. Random handlers would then endorse official claims using custom emojis, John Ray added. In his damning report, Ray said FTX failed to keep communications, hiring, and financial records. Loading Something is loading. Thank you for your registration! Access your favorite topics in a personalized …

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