NEW YORK (AP) — The cryptocurrency exchange Binance said it plans to buy its rival FTX Trading, in the latest example of how fortunes can change rapidly in the crypto world. Binance CEO Changpeng Zhao said on Twitter Tuesday that his company had signed a letter of intent to buy FTX because the smaller exchange…
BRUSSELS (AP) — The European Union has launched an investigation into Microsoft’s planned takeover of video game giant Activision Blizzard, fearing the $69 billion deal would distort fair competition to popular titles like Call of Duty. Microsoft, maker of the Xbox gaming system, first announced the agreement to buy the California-based game publisher in January,…
(Reuters) – More consumers opted for credit cards and unsecured loans in the third-quarter from a year earlier amid decades-high inflation, according to a report on Tuesday from global credit rating firm TransUnion. While delinquencies for most credit products are treading in line with pre-pandemic levels, they have risen in comparison to levels seen in…
BERLIN (AP) — The German government may decide this week to block the sale of a chip factory to a Swedish subsidiary of a Chinese company, following a recent compromise over a Chinese shipping firm’s investment in a German container terminal. German company Elmos said late Monday that it was informed by the Economy Ministry…
NEW YORK (AP) — Michelle Gass, CEO of department store chain Kohl’s, is stepping down from her role early next month and will become the president of denim giant Levi Strauss & Co. Levi’s said Tuesday in a release that Gass will start on Jan. 2, and the board of directors has put in motion…
BERLIN (AP) — Adidas has appointed Bjørn Gulden, the CEO of rival Puma, as its new chief executive, and he will take over the German sportswear brand in January as the company weathers the fallout from its split with the rapper formerly known as Kanye West. Gulden will replace Kasper Rorsted, Adidas’ CEO since 2016,…
SAN JOSE, Calif. (AP) — A federal judge rejected a bid for a new trial for disgraced Theranos CEO Elizabeth Holmes after concluding a key prosecution witness’s recent remorseful attempt to contact her wasn’t enough to award her another chance to avoid a potential prison sentence for defrauding investors at her blood-testing company. The ruling…
By Liz Hampton (Reuters) – Oil producer Diamondback Energy said the U.S. shale industry will struggle to continue to expand production at the current pace, with costs of new shale wells likely rising. The aging of oil and gas wells, supply chain bottlenecks and investor focus on shareholder returns have led to slowing U.S. oil…
BEIJING (Reuters) -A scaled-down version of China’s biggest air show opened on Tuesday, with some delegates unable to attend because of the country’s zero-COVID policy as virus case numbers there reached their highest level in six months. The organisers of Airshow China in the southern city of Zhuhai last week told attendees they must arrive…
By David Shepardson WASHINGTON (Reuters) -Tesla Inc is recalling just over 40,000 2017-2021 Model S and Model X vehicles that may experience a loss of power steering assist when driving on rough roads or after hitting a pothole. The Texas-based electric vehicle manufacturer has released an over-the-air software update to recalibrate the system after it…
