Feds seized nearly $700 million from FTX founder Bankman-Fried

Feds seized nearly 0 million from FTX founder Bankman-Fried

Jan 20 (Reuters) – Federal prosecutors seized nearly $700 million in assets from FTX founder Sam Bankman-Fried in January, much of it in the form of Robinhood stock, according to a court filing on Friday. Bankman-Fried, who was accused of stealing billions of dollars from FTX clients to pay debts incurred by his crypto-focused hedge … Read more

Chris Hipkins set to replace Jacinda Ardern as New Zealand Prime Minister

Chris Hipkins set to replace Jacinda Ardern as New Zealand Prime Minister

WELLINGTON, Jan 21 (Reuters) – Chris Hipkins, who has played a significant role in New Zealand’s response to the COVID-19 pandemic, is set to replace Jacinda Ardern as prime minister after emerging on Saturday as the sole candidate for the leadership of the ruling Labor Party. Hipkins, 44, is expected to be confirmed as the … Read more

Alphabet cuts 12,000 jobs after pandemic hiring spree, refocuses on AI

Alphabet cuts 12,000 jobs after pandemic hiring spree, refocuses on AI

Jan 20 (Reuters) – Google’s parent company Alphabet Inc (GOOGL.O) is cutting around 12,000 jobs as it faces “a different economic reality”, it said in a memo, doubling down artificial intelligence (AI) and removing staff who support experimental projects. The job cuts affect 6% of its workforce and follow thousands of layoffs at tech giants … Read more

US home sales fall to 12-year low; glimmers of hope are emerging

US home sales fall to 12-year low;  glimmers of hope are emerging

Existing home sales fall 1.5% in December Sales fall 17.8% in 2022, the biggest annual drop since 2008 Median home price rises 2.3% from a year ago WASHINGTON, Jan 20 (Reuters) – U.S. existing home sales fell to their lowest level in 12 years in December, but falling mortgage rates prompted cautious optimism that the … Read more

Musk expected to take a stand as trial resumes over Tesla tweet

Musk expected to take a stand as trial resumes over Tesla tweet

SAN FRANCISCO, Jan 20 (Reuters) – Tesla Inc chief executive Elon Musk (TSLA.O) is set to testify in a jury trial on Friday over his 2018 Twitter post that he had ” secured financing” to take the power automaker private, which shareholders say has cost them millions in business losses. The class action lawsuit in … Read more

Genesis Crypto Lending Unit Files For Bankruptcy In The US

Genesis Crypto Lending Unit Files For Bankruptcy In The US

Jan 20 (Reuters) – The loan unit of crypto firm Genesis filed for bankruptcy protection in the United States on Thursday, owing its creditors at least $3.4 billion, after being knocked down by a rout market with companies like FTX exchange and lender BlockFi. Genesis Global Capital, one of the biggest crypto lenders, froze client … Read more

China plays down COVID outbreak with full-throttle holiday rush

China plays down COVID outbreak with full-throttle holiday rush

Senior official says COVID is at ‘relatively low’ level Hospital, critical cases down, authorities say More than 2 billion trips expected for Lunar New Year Some fear the travel season will see a rise in infections BEIJING, Jan 20 (Reuters) – People across China crammed into trains and buses for one of its busiest travel … Read more

Hundreds evacuated as fire breaks out in slum next to Seoul’s upscale Gangnam district

Hundreds evacuated as fire breaks out in slum next to Seoul’s upscale Gangnam district

SEOUL, Jan 20 (Reuters) – A fire swept through part of a slum in the South Korean capital, Seoul, on Friday, destroying 60 homes, many made of cardboard and wood, and forcing the evacuation of around 500 people. Emergency services took five hours to extinguish the blaze, which broke out before dawn in Guryong Village, … Read more

Davos 2023: Intimidated Crypto Crowd Feels Winter Freeze at WEF

Davos 2023: Intimidated Crypto Crowd Feels Winter Freeze at WEF

DAVOS, Switzerland, Jan 19 (Reuters) – In the snow and ice on the main street of Davos, the impact of the crypto winter is evident for WEF attendees. Last May, the dressed storefronts that line both sides of Promenade Street that runs through the Swiss ski resort were dominated by crypto companies, rolling in bitcoin. … Read more

Exclusive: Brazil launches first anti-deforestation raids as part of Lula bid to protect Amazon

Exclusive: Brazil launches first anti-deforestation raids as part of Lula bid to protect Amazon

URUARA, Brazil, Jan 19 (Reuters) – Brazilian environmental workers stalked through the rainforest on Thursday with machetes in search of criminals during the first anti-deforestation raids under President Luiz Inacio Lula da Silva, who pledged to end the growing destruction inherited from his predecessor, Jair Bolsonaro. Reuters exclusively backed raids by environmental agency Ibama in … Read more