Spotify, Epic Games get ally in Musk in fight against Apple fees

LONDON, Nov 29 (Reuters) – Elon Musk’s declaration of war on Apple (AAPL.O) in a series of tweets on Monday gives Spotify and Fortnite maker Epic Games a powerful ally in taking the tech giant to task over its 30% App Store fees. Musk criticized the fee Apple charges software developers for in-app purchases, and … Read more

HSBC eyes bumper dividend from $10 bln sale of Canada unit to RBC

Deal comes amid pressure from Chinese shareholders Analysts hail ‘sensitive’ transaction Bank could return deal proceeds to shareholders LONDON/TORONTO/NEW YORK, Nov 29 (Reuters) – HSBC (HSBA.L) has agreed to sell its business in Canada to Royal Bank of Canada (RY.TO) for C$13.5 billion ($10 billion) in cash, paving the way for a potential bumper payout … Read more

Crypto lender BlockFi files for bankruptcy as FTX ripple effect spreads

Filing follows weeks after FTX collapse FTX listed as BlockFi’s No.2 creditor Bitcoin down over 70% from 2021 peak Nov 28 (Reuters) – Cryptocurrency lender BlockFi has filed for Chapter 11 bankruptcy protection, it said on Monday, the latest crypto casualty following the spectacular collapse of the FTX exchange earlier this month. The filing in … Read more

US weekly jobless claims at 3-month high; equipment spending resilient

Weekly jobless claims increase from 17,000 to 240,000 Continuing claims rise 48,000 to 1,551 million Core capital goods orders rebound 0.7% in October Shipments of core capital goods surge 1.3% WASHINGTON, Nov 23 (Reuters) – The number of Americans filing new claims for jobless benefits increased to a three-month high last week amid rising layoffs … Read more

Tesla safety at center of South Korean trial over fiery, fatal crash

SEOUL, Nov 21 (Reuters) – In an upscale Seoul neighborhood two years ago, a white Tesla Model X smashed into a parking lot wall. The fiery crash killed a prominent lawyer – a close friend of South Korea’s president. Prosecutors have charged the driver with involuntary manslaughter. He blames Tesla. Choi Woan-jong, who had eked … Read more

Musk’s pay asks trials if Tesla’s growth justifies $56 bln compensation

WILMINGTON, Del., Nov 18 (Reuters) – After five days of testimony, including three hours from Elon Musk, a Delaware judge will now decide whether Musk’s $56 billion pay package from Tesla Inc was justified by the company’s explosive growth or undermined by a flawed process. Musk and the Tesla (TSLA.O) directors named as defendants repeatedly … 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

FTX fallout hits crypto lender Genesis; Bankman-Fried, celebs sued

Nov 16 (Reuters) – Crypto lender Genesis Global Capital suspended customer redemptions on Wednesday, citing the sudden failure of crypto exchange FTX, while court papers showed FTX founder Sam Bankman-Fried faces legal action. FTX filed for bankruptcy protection in the United States on Friday in the highest-profile crypto blowup to date, after traders pulled $6 … Read more

FTX’s Bankman-Fried, Tom Brady and other celebrity promoters sued by crypto investors

Nov 16 (Reuters) – US crypto investors sued FTX founder Sam Bankman-Fried and several celebrities who promoted his exchange including NFL quarterback Tom Brady and comedian Larry David, claiming they engaged in deceptive practices to sell FTX yield-bearing digital currency accounts. The proposed class action filed on Tuesday night in Miami alleges that FTX yield-bearing … Read more

FTX in talks with regulators, may have 1 mln creditors- bankruptcy filings

FTX in contact with federal, state, international regulators More than one hundred thousand creditors involved in the bankruptcy case, maybe over one million Bahamas regulator appoints provisional liquidators French cent. bank governor urges global regulatory response WSJ says former CEO Bankman-Fried tried to raise funds Nov 15 (Reuters) – Collapsed-crypto exchange FTX outlined a “severe … Read more