Open Editor's Digest for freeRula Khalaf, editor of the Financial Times, selects her favorite stories in this weekly newsletter.Sam Bankman Fried should be sent to prison for up to 50 years for “orchestrating one of the largest financial frauds in history,” US prosecutors told a judge ahead of the FTX founder's sentencing this month.The 32-year-old, who was convicted of seven counts of fraud and money laundering late last year, “victimized tens of thousands of people” by stealing more than $8 billion from clients and investors, the government said in a memo on Friday. Before his cryptocurrency exchange collapsed in November…
Author: ricardofrancois
A home is listed available for sale on October 16, 2023 in Austin, TX.Brandon Bell | Getty ImagesThe National Association of Realtors has approved a landmark settlement that will eliminate long-standing automatic commissions for Realtors, which typically amount to 6% of the purchase price.Instead, home buyers and sellers will be able to negotiate fees with their agents in advance. If the $418 million legal agreement is approved by a federal court, consumer advocates expect the ranks of real estate agents to thin, leading to lower commission rates.“For years, anti-competitive rules in the real estate industry have caused financial harm to…
Open Editor's Digest for freeRula Khalaf, editor of the Financial Times, selects her favorite stories in this weekly newsletter.The way early Slack users talked about workplace messaging in the 2000s seems disturbed today. He was the “buddy” in the office, the “glue” that kept the teams together, and the reason work was fun. Of course, we now know that non-stop messaging makes it difficult to log out. But at least we can send emojis to our bosses.In compensation for being tied to our jobs, workplace messaging has helped upend work norms. The idea that work requires a separate, stricter identity…
Stay informed with free updatesSimply subscribe to Investments myFT Digest – delivered straight to your inbox.A CRH insider has snapped up shares worth $2.5m (£1.9m) after the FTSE 100 building materials company posted a jump in profits and pre-tax profits in its full-year results.Non-executive director Richard Fearon bought 10,000 shares at $83.65 per share on the New York Stock Exchange on March 1, the day after the company published calendar year 2023 results. He bought another 20,000 shares at $81.51 the following Monday.CRH reported a 22 per cent jump in earnings per share in its results, with its well-covered dividend…
Lordstown Motors has emerged from bankruptcy with a new name and an almost singular focus: continuing its lawsuit against iPhone maker Foxconn for allegedly “destroying an American startup's business.” The company announced in a regulatory filing late Thursday that it has put into effect a Chapter 11 restructuring plan that was recently approved by the Delaware Bankruptcy Court. This makes it one of the first electric vehicle startups to survive the bankruptcy process in some form, albeit a very diminished one. Electric Last Mile Solutions was liquidated in Chapter 7 proceedings in 2022, while IndiEV's Chapter 11 proceedings are ongoing…
A photo taken on August 14, 2018 shows the logo of the Turkish Central Bank at the entrance to its headquarters in Ankara, Turkey.Adam Altan | AFP | Getty ImagesTurkey's central bank is choosing a different approach to tightening monetary policy as it faces rising inflation, having previously signaled that the cycle of raising interest rates is over.The institution sent a directive to lenders, as of Friday, asking them to place parts of their required lira reserves in blocked accounts.This has led to higher interest rates on loans and a reduction in the sizes of some banks' loan limits, with…
InvolvedShare the article via FacebookShare the article via TwitterShare article via LinkedInShare article via emailRedfin CEO Glenn Kelman joins The Exchange with CNBC's Diana Olick to discuss the implications of the National Association of Realtors settlement on the real estate industry, how the settlement could impact Redfin's business, and more.04:21Friday, March 15, 20241:50 PM EST
Washington – President Biden on Friday expressed his support for Senate Majority Leader Charles E. Schumer after the senator called for new elections in Israel, the latest sign that the United States' relationship with its closest Middle Eastern ally is headed toward division over the war in Gaza.Schumer, a Jewish Democrat from New York, caused tremors in both countries on Thursday when he said Israeli Prime Minister Benjamin Netanyahu had “lost his way” and warned that “Israel cannot survive if it becomes a pariah” as Palestinian casualties continue to mount. “He gave a good speech,” Biden said in the Oval…
Open Editor's Digest for freeRula Khalaf, editor of the Financial Times, selects her favorite stories in this weekly newsletter.Apple has agreed to pay $490 million to settle a class-action lawsuit accusing CEO Tim Cook of misleading investors in 2018 by overstating demand for the iPhone in China.Investors claimed that Cook overestimated demand for Apple products in the country in a November 2018 earnings call, only for the company's stock to fall nearly 10 percent in January 2019 when it said it would miss its revenue guidance by as much as $9 billion.Apple declined to comment on Friday. It denied violating…
Russian voters go to the polls today, Friday, to cast presidential elections that are certain to give President Vladimir Putin a fifth term in power.The vote is scheduled to take place over three days, although there is no credible challenger to the current leader.Ukraine's Foreign Ministry said on Thursday that Russian attempts to hold elections in the occupied territories or force residents of the region to go to the polls would be “illegal” — a view echoed by NATO Secretary General Jens Stoltenberg in a separate news conference, Reuters reported.Meanwhile, skirmishes continued Thursday in Russia's Belgorod and Kursk border regions,…