Business

Disney sets layoffs, targeted hiring freeze and travel curbs

Disney will begin layoffs, implement a targeted hiring freeze and limit corporate travel as part of a sweeping cost-cutting measure announced to management Friday. In a note obtained by Variety, which was sent to top executives on Friday afternoon, Disney CEO Bob Chapek wrote: “I am fully aware that this will be a difficult process …

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LLY Stock Dives – Taking Novo, Sanofi With It – After Fake Twitter Promises Free Insulin

Elon Musk’s new payment verification system for Twitter’s game has rocked the pharma stalwart Eli Lily (LLY) – leading LLY shares to skid on Friday – after a fake account claimed “insulin is free now”. X The tweet was uploaded around 1:30 p.m. Thursday from an account claiming to be Eli Lilly. It stayed online …

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Musk offers to turn Twitter into a bank to avoid bankruptcy

Trust in Twitter hit what could be an all-time low just two weeks into Elon Musk’s tenure as owner. On a call yesterday, Musk told Twitter staff that bankruptcy was a real possibility because next year Twitter could face billions more in losses. The Verge published a full transcript of Musk’s staff meeting, where different …

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Musk’s Twitter may have already violated his latest FTC consent order

CNN — Just two weeks into Elon Musk’s ownership of Twitter, the company may have already breached its consent agreement with the Federal Trade Commission, legal experts have said. If proven, a breach could ultimately result in significant personal liability for Musk, increasing the risks he faces as he stumbles through a quagmire of business …

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Dallas-Fort Worth airport ground shutdown lifted, FAA says

(CNN) — A ground shutdown at Dallas-Fort Worth International Airport caused by a fuel fire Friday morning has been lifted. Hundreds of flights to and from the airport have been delayed. The Federal Aviation Administration told CNN the ground shutdown was lifted at 12:22 p.m. local time (1:22 p.m. ET). The nationwide ground shutdown was …

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Elon Musk’s paid Twitter verification halted after fake accounts spread

Comment this story Comment Twitter has paused allowing people to sign up for its paid subscription feature which grants blue ticks amid a flood of fake accounts, just days after launching the controversial feature. A memo to Twitter employees sent Thursday evening says it’s decided to temporarily disable signups for Twitter Blue, its new $7.99 …

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US stocks could rally another 25% now that the Fed is no longer ‘back to the wall’ in the fight against inflation

One of Wall Street’s most relentless bulls has explained why he thinks US stocks can continue to rally through the end of the year after October’s game-changing inflation data on Thursday. Tom Lee, head of research at Fundstrat, said in a note to clients dated Friday that while “inflationists” doubt October’s weaker-than-expected inflation reading could …

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Sam Bankman-Fried resigns, FTX files for bankruptcy

Sam Bankman-Fried, Founder and Managing Director of FTX Cryptocurrency Derivatives Exchange, during an interview on an episode of Bloomberg Wealth with David Rubenstein in New York, U.S., Wednesday August 17, 2022. Jeena Moon | Bloomberg | Getty Images Sam Bankman-Fried’s FTX cryptocurrency exchange has filed for Chapter 11 bankruptcy in the United States, according to …

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Binance Chief Changpeng Zhao Warns of a ‘Cascading’ Crypto Crisis

The billion-dollar digital asset market is facing a crisis akin to the financial crash of 2008, according to Binance chief Changpeng Zhao, who warned that more companies could go bankrupt in the coming weeks. following FTX disorders. Zhao, founder of the world’s largest digital asset exchange, said the full impact of the collapse of rival …

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