FTX will sell or restructure global empire, CEO says

FTX’s new CEO said on Saturday that the bankrupt crypto exchange is looking to sell or restructure its global empire, even as Bahamian regulators and FTX squabble in court filings and press releases about whether the bankruptcy filing should proceed in New York or in Delaware. “Based on our review over the past week, we … Read more

AMD earnings Q3 2022

AMD President and CEO Lisa Su speaks during an AMD event at CES in Las Vegas on Jan. 6, 2020. Bridget Bennett | Bloomberg | Getty Images Advanced Micro Devices shares rose as much as 4% in extended trading on Tuesday after the chipmaker announced earnings and quarterly guidance that failed to meet Wall Street’s … Read more

The Dow soars, Big Tech tumbles: What’s next for stocks as investors await Fed guidance

The past week offered a tale of two markets, with gains for the Dow Jones Industrial Average putting the blue-chip gauge on track for its best October on record while Big Tech heavyweights suffered a shellacking that had market veterans recalling the dot-com bust in the early 2000s. “You have a tug of war,” said … Read more

Diving deeper into the world’s oceans than ever before

Sign up for CNN’s Wonder Theory science newsletter. Explore the universe with news on fascinating discoveries, scientific advancements and more. CNN — Black smoke appears to rise from chimney-like formations of the hottest and deepest known hydrothermal vents on Earth. Over the summer, Anna Michel was able to see them for herself—a few miles beneath … Read more

Elon Musk’s texts show how his relationship with Twitter went sideways

CNN — Days before publicly announcing his investment in Twitter, Elon Musk texted with Jack Dorsey. The former Twitter CEO suggested he no longer believed in the company he founded, according to new court filings in the legal battle between Musk and Twitter. Musk had begun quietly building up a large stake in Twitter (TWTR) … Read more

Robinhood users buy and hold companies ‘they know, understand and believe in for the long-term.’ Here are their favorite stocks.

Tech companies, electric-vehicle makers and some meme stocks are part of the aggregate mix of equities inside the portfolios of Robinhood users, according to a new index from the brokerage app geared at new investors. These are stocks like Amazon AMZN, +2.66%, Microsoft MSFT, +2.30%, Tesla TSLA, +3.60%, Apple AAPL, +1.88%, Ford Motor Company F, … Read more

Here’s why HBO Max is pulling dozens of films and TV series

Warner Bros. Discovery’s HBO Max is removing 36 movies and TV series from its platform. There are three main reasons why it’s happening. The films and series − which include 20 original HBO Max shows such as teen drama “Generation,” and “Sesame Street” spinoff “The Not-Too-Late Show with Elmo” − will be removed by end … Read more

Billions pour into bioplastics as markets begin ramping up

CLEVELAND (AP) — In a world increasingly troubled by the persistent harm that plastic — manufactured in petrochemical plants — has had on the environment, companies are investing billions of dollars to ramp up production of plastics made from natural, renewable materials that can be safely composted or can biodegrade under the right conditions. Bioplastics … Read more

Most electric vehicles won’t qualify for federal tax credit

DETROIT (AP) — A tax credit of up to $7,500 could be used to defray the cost of an electric vehicle under the Inflation Reduction Act now moving toward final approval in Congress. But the auto industry is warning that the vast majority of EV purchases won’t qualify for a tax credit that large. That’s … Read more

The red flag that preceded the halving of global equities in 2000 and 2007 is back, warns Citi

We are a day away from data that could prove a turning point for markets. If Wednesday’s CPI doesn’t reveal some slowing in prices, expectations will rise for a bigger Fed rate hike in September, possibly knocking stocks. But if it swings the other way, especially after surprisingly good jobs data, the view that things … Read more