By Jonathan Stempel and Jody Godoy (Reuters) -Elizabeth Holmes urged a U.S. judge not to send her to prison, as the founder of Theranos Inc prepares to be sentenced next week for defrauding investors in the blood testing startup. In a Thursday night court filing, lawyers for Holmes asked that she receive 18 months of…
Disgraced Theranos CEO Elizabeth Holmes is casting herself as a Silicon Valley scapegoat who overcame an abusive relationship to become a loving mother in an effort to avoid a lengthy prison sentence for duping investors in her failed blood-testing company. In an 82-page document filed late Thursday, Holmes’ lawyers tried to persuade U.S. District Judge…
(Reuters) -Meta Platforms told employees on Friday that 54% of the 11,000 jobs it cut earlier this week were business roles and the rest were in technology. Executives speaking during a during an employee townhall meeting, which was heard by Reuters, also said the company was exiting its Portal smart display business and will wind…
By Elisa Anzolin MILAN (Reuters) -The Benetton family and U.S. investment fund Blackstone aim to press ahead with their offer for Italy’s Atlantia, sources said on Friday, after their takeover bid fell just short of the required 90% threshold. The bidders’ vehicle named Schema Alfa has set an acceptance threshold of 90% for the offer…
(Reuters) – Crypto exchange FTX filed for U.S. bankruptcy on Friday and Sam Bankman-Fried stepped down as CEO, after a liquidity crisis that has prompted intervention from regulators around the world. FTX, its affiliated crypto trading fund Alameda Research and about 130 other companies have commenced voluntary Chapter 11 bankruptcy proceedings in Delaware, FTX said….
Twitter’s relaunched premium service — which grants blue-check “verification” labels to anyone willing to pay $8 a month — was unavailable Friday after the social media platform was flooded by a wave of imposter accounts it itself had approved. It’s the latest whiplash-inducing change to the service where uncertainty has become the norm since billionaire…
By Priyamvada C (Reuters) – U.S. hotel operators expect more pain from China’s strict COVID-19 lockdowns which have halted construction of some luxury properties and impeded travel to one the world’s key tourism markets. Growth in China has been stuttering at a time when companies are rushing to open hotels and capitalise on pent up…
LONDON (Reuters) -The long-awaited UK fiscal plan is (almost) here and after the ructions unleashed by September’s mini-budget, markets are paying close attention. Chaos reigns in cryptoland as trouble at cryptocurrency exchange FTX resonates, while latest U.S. and China data comes just as hopes of a peak in interest rates grows. Here’s a look at…
NEW YORK (AP) — It took less than a week for FTX to go from the third-largest cryptocurrency exchange in the world to bankruptcy court. The embattled cryptocurrency exchange, short billions of dollars, sought bankruptcy protection after the exchange experienced the crypto equivalent of a bank run. FTX, the hedge fund Alameda Research, and dozens…
By Chiara Elisei and Dhara Ranasinghe LONDON (Reuters) -Britain’s external deficit is a worry and there are questions over the country’s competitiveness long-term, while the new Italian government’s medium-term fiscal plan appears “realistic”, senior analysts at S&P Global said on Friday. The ratings agency cut the outlook for Britain’s AA credit rating in September to…
