Lawyers representing Caroline Ellison, a key witness in the case against FTX founder Sam Bankman-Fried, have put forth a recommendation for no prison time for their client. They argue that Ellison should, at most, be sentenced to time served and supervised release. This leniency is attributed to her prompt return to the U.S. from FTX’s
industry
The landscape of generative artificial intelligence has been dominated by big U.S. companies like OpenAI, Google, and Meta. However, a new player has emerged in the form of Chinese tech giants such as Alibaba, Tencent, and Huawei. Over the past 18 months, these companies have launched their own AI models in an effort to capitalize
The energy sector has been struggling, with various companies experiencing significant declines in stock performance over the past few months. Notably, EQT, Coterra, APA, Halliburton, Occidental, ExxonMobil, and Chevron have all seen decreases ranging from 6% to 22% in the last three months. This poor performance is reflected in the broader market trend of energy
In a bold move, Australian property listing firm REA Group recently made a generous takeover offer to Britain’s largest real estate portal Rightmove. However, Rightmove rejected the cash-and-stock offer of 5.6 billion pounds. This decision has raised eyebrows in the industry and left many wondering about the future implications for both companies. The rejection of
The Broadway debut of Robert Downey Jr. in Ayad Akhtar’s play at Lincoln Center’s Vivian Beaumont Theater proved to be a massive success. The play garnered a substantial amount of revenue, grossing $746,230 in just four previews. Downey’s portrayal of a Pulitzer runner-up author with an obsession for Artificial Intelligence captivated audiences and led to
Southwest Airlines has announced that executive chairman and former CEO Gary Kelly will retire next year, signaling a significant shift in leadership for the company. Kelly, who has been with Southwest for almost four decades, will be stepping down at a crucial time for the airline as it faces pressure for changes by activist investor
The U.K. technology industry is facing a significant challenge when it comes to commercializing technology businesses on a global scale. Warren East, former CEO of Arm, highlighted the critical need for a mindset shift within the investor community to ensure that the U.K. can compete effectively on the world stage. There have been criticisms about
The ongoing trial in Alexandria, Virginia has brought to light the extent of Google’s control over online advertising technology. Prosecutors have accused Google of using monopolistic tactics to stifle competition and maintain its stronghold in the market. According to the Justice Department prosecutor, Google has systematically eliminated competitors through acquisitions, locked customers into using its
Discount home goods retailer Big Lots recently filed for bankruptcy protection due to a combination of high interest rates and a sluggish housing market. The company, known for its low-priced furniture and decor, agreed to sell its business to private equity firm Nexus Capital Management for approximately $760 million. This deal includes $2.5 million in
Northvolt, a prominent battery producer for Europe’s electric vehicle industry, has recently announced a series of strategic decisions that have sent shockwaves through the industry. These decisions include job cuts, site closures, and discussions with partners and investors to secure the future of a facility in Poland. The company, based in Stockholm, Sweden, is known
Columbia Pictures’ Venom: The Last Dance is set to hit theaters in China on October 23, just two days before its domestic release on October 25. This strategic move aims to maximize the film’s global box office potential, especially considering China’s significant contribution to the success of the first Venom installment in 2018. The original
Alimentation Couche-Tard, a Canadian retailer, has expressed its willingness to engage in confidential discussions with Japanese retail giant Seven & i Holdings regarding its $38.5 billion takeover offer. This offer has sparked interest in the stock market, with Seven & i shares rising by 3% in early Tokyo trading. However, Seven & i has raised
Casa Bonita Mi Amor!, a documentary featuring Trey Parker and Matt Stone, stood out in the Denver market with its impressive performance at the box office. Despite being screened in only one theater, the film managed to attract a large audience and generate significant revenue. The Alamo Denver, one of the theaters showing the film,
In 2024, exchange-traded fund (ETF) inflows have hit record highs, with managers anticipating a potential impact from the booming money market fund industry. The influx of over $6 trillion into money market funds has raised concerns and possibilities for the market, according to Nate Geraci, president of The ETF Store. This surge in assets comes