tech:

Abandon cryptocurrency, CNBC’s Jim Cramer tells investors

CNBC personality Jim Cramer told investors to dump their cryptocurrency investments during a scathing segment in the wake of FTX’s catastrophic bankruptcy. Cramer, a frequent critic of the cryptocurrency sector, likened current conditions within the cryptocurrency sector to those investors experienced when the dotcom bubble burst in 2000. The polarizing CNBC fixture said investors should …

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Bankman-Fried says he will testify before the US House committee

Dec 4 (Reuters) – FTX founder Sam Bankman-Fried tweeted on Sunday that he would testify before the House Financial Services Committee after he finished “learning and reviewing” the events that led to the spectacular collapse of his cryptocurrency exchange. The US House Financial Services Committee plans to hold a hearing in December to investigate the …

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Apple and Amazon resume advertising on Twitter, reports say

Dec 3 (Reuters) – Amazon.com Inc (AMZN.O) and Apple Inc (AAPL.O) are planning to resume advertising on Twitter, according to media reports on Saturday. The developments follow an email sent by Twitter on Thursday to advertising agencies offering advertisers incentives to increase their spending on the platform, an effort to jump-start its business after Elon …

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Foxconn expects COVID-hit China plant back to full output in late Dec-early Jan -source

TAIPEI, Dec 5 (Reuters) – Apple supplier Foxconn (2317.TW) expects its COVID-hit Zhengzhou plant in China to resume full production around late December to early January, a Foxconn source said on Monday, after worker unrest disrupted the world’s biggest iPhone factory. The Zhengzhou plant has been grappling with strict COVID-19 restrictions that have fueled discontent …

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Credit Suisse’s fund outflows may spark M&A talk – JPMorgan

ZURICH, Dec 1 (Reuters) – Continued client outflows at Credit Suisse (CSGN.S) could spark speculation of a takeover of the embattled Swiss bank and may lead to the partial sale of its domestic unit, analysts at JPMorgan said on Thursday. Credit Suisse has reported steep outflows as wealthy clients move assets elsewhere, while the bank …

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Coinbase says Apple blocked its last app release on NFTs in wallet

Dec 1 (Reuters) – Coinbase Global Inc (COIN.O) said on Thursday customers using Apple Inc’s (AAPL.O) iOS will not be able to send non-fungible tokens (NFTs) on the cryptocurrency exchange’s wallet anymore. “Apple’s claim is that the gas fees required to send NFTs need to be paid through their In-App Purchase system, so that they …

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Sam Bankman-Fried says he ‘didn’t ever try to commit fraud’

NEW YORK, Nov 30 (Reuters) – Sam Bankman-Fried, the founder and former CEO of now-bankrupt crypto exchange FTX, attempted to distance himself from suggestions of fraud in his first public appearance since his company’s collapse stunned investors and left creditors facing losses totaling billions of dollars. Speaking via video link at the New York Times’ …

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Amazon records biggest ever Thanksgiving shopping weekend

Amazon said on Wednesday it recorded its biggest ever Thanksgiving weekend this year as shoppers, undeterred by inflation, scooped up everything from New Balance sneakers to Nintendo Switch gaming consoles. Fire TV Sticks, AirPods and Champion clothing were among the top-selling items, Amazon said. Amazon delivery vans being loaded with packages on Monday.Denver Post via …

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GM’s Cruise plans to enter ‘a large number of markets’ in 2023

DETROIT, Nov 30 (Reuters) – Cruise, General Motors Co’s (GM.N) robotaxi unit, plans to enter a “large number of markets” and scale operations up to “thousands of vehicles” in 2023, Chief Operating Officer Gil West told Reuters. Cruise has announced plans to start offering rides in Austin and Phoenix, adding those cities to its current …

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Analysis: Apple supply chain data shows receding exposure to China as risks mount

SHANGHAI, Nov 30 (Reuters) – Apple Inc’s ( AAPL.O ) wide exposure to Chinese manufacturing, notable both for its low costs and rising risks, has receded since the COVID-19 pandemic began, company supply chain data shows. With the world’s biggest iPhone factory, operated in central China by Foxconn (2317.TW), battling production shortfalls and labor unrest …

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