Nasdaq ends down as investors eye Black Friday sales, China infections

Retailers in focus as Black Friday sales start Activision down on likely FTC lawsuit to block Microsoft deal Apple slips, Foxconn China plans sees lower shipments Indexes: Dow up 0.45%, S&P 500 down 0.03%, Nasdaq down 0.52% Nov 25 (Reuters) – The Nasdaq closed lower on Friday with pressure from Apple Inc (AAPL.O) in a … Read more

Exclusive: China set to fine Ant Group over $1 billion, signaling revamp nears end-sources

HONG KONG, Nov 22 (Reuters) – Chinese authorities are poised to impose a fine of more than $1 billion on Jack Ma’s Ant Group, said six sources with direct knowledge of the matter, setting the stage for ending the fintech company’s two-year long regulatory overhaul. The People’s Bank of China (PBOC), which has been driving … Read more

Chinese carmakers target more European sales with five-star EVs

SOLIHULL, England, Nov 21 (Reuters) – Chinese electric vehicle (EV) makers have set their sights on winning over European drivers and large corporate customers with more affordable cars that come with top safety ratings and lots of high-tech features. In the last few months, several Chinese EVs have received five-star European New Car Assessment Program … Read more

Elon Musk starts Twitter poll on whether to bring back Trump

Nov 18 (Reuters) – Elon Musk started a Twitter poll late on Friday asking followers to vote on whether to reinstate former US President Donald Trump’s account on the platform, with early results showing roughly 60% voting yes. “Vox Populi, Vox Dei,” Musk tweeted, a Latin phrase that roughly means meaning “the voice of the … Read more

After Elon Musk’s ultimatum, Twitter employees start exiting

Nov 17 (Reuters) – Hundreds of Twitter employees are estimated to be leaving the beleaguered social media company following an ultimatum from new owner Elon Musk that staffers sign up for “long hours at high intensity,” or leave. In a poll on the workplace app Blind, which verifies employees through their work email addresses and … Read more

Exclusive: How FTX bought its way to become the ‘most regulated’ crypto exchange

FTX bought a 10% stake in IEX with an option to acquire 100% FTX spent $2 billion on ‘acquisitions for regulatory purposes’ Documents show FTX saw its regulatory status as a way of luring new capital from major investors Nov 18 (Reuters) – Before it collapsed this month, FTX stood apart from many rivals in … Read more

China’s NetEase tumbles after ending 14-year gaming deal with Blizzard

Nov 17 (Reuters) – Blizzard Entertainment (ATVI.O) said on Thursday it will no longer offer games such as ‘World of Warcraft’ and ‘Hearthstone’ in China from next year once its deal with NetEase (9999.HK) ends, prompting shares in the Chinese internet giant to tumble. California-based Blizzard said it was unable to reach a deal with … Read more

Tesla board member says Elon Musk identified potential successor as CEO

SAN FRANCISCO, Nov 16 (Reuters) – James Murdoch, a Tesla Inc (TSLA.O) director, tested in court on Wednesday that CEO Elon Musk has in the last few months identified someone as a potential successor to head the electric carmaker. Murdoch, who did not name the potential successor, was testing in a trial over Musk’s 2018 … Read more

Cryptoverse: That long, Solana? Ether rival clobbered by FTX crash

Nov 15 (Reuters) – Solana, a poster coin of the crypto future, is in trouble. The cryptocurrency, which had been lauded by FTX’s founder Sam Bankman-Fried, has been hit harder than any other major coin by the collapse of the exchange. The Solana token, or SOL , has dropped 53.8% since the furor began unfolding … Read more

Elon Musk says ‘I have too much work on my plate’

NUSA DUA, Indonesia, Nov 14 (Reuters) – Billionaire Elon Musk said on Monday he was working “at the absolute most amount…from morning til night, seven days a week” when asked about his recent acquisition of Twitter and his leadership of automaker Tesla Inc (TSLA.O). “I have too much work on my plate that is for … Read more