TMT

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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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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Market maker Virtu sues US SEC over records request

Nov 29 (Reuters) – Virtu Financial Inc (VIRT.O) took the extraordinary step of suing the US Securities and Exchange Commission, alleging on Tuesday its primary regulator had not responded to a public records request. Virtu, a market maker with a large equities business, said it submitted a Freedom of Information Act (FOIA) request in June …

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Tesla market share could be dented by cheaper rival EVs – S&P Global Mobility

Nov 29 (Reuters) – Tesla Inc (TSLA.O) may be losing its tight grip on the electric car market, as rivals try to chip away at its market share with cheaper options. With electric cars quickly gaining popularity among masses, models priced below $50,000 are in big demand, an area where the world’s most valuable automaker …

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Wall Street ends sharply, hit by Apple and China worries

Cyber ​​Monday spending to hit $11.6 billion – report: Crypto shares fall on BlockFi bankruptcy filing Biogen down after death in Alzheimer’s drug trial Indexes end: S&P 500 -1.54%, Nasdaq -1.58%, Dow -1.45% Nov 28 (Reuters) – US stocks ended sharply lower on Monday after protests in major Chinese cities against strict COVID-19 policies sparked …

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Apple shares slip as China factory unrest fuels iPhone supply concerns

Nov 28 (Reuters) – Shares of Apple Inc (AAPL.O) fell 1.4% on Monday as growing worker unrest at the world’s biggest iPhone factory in China fanned worries of a deeper hit to the already constrained production of higher-end iPhone 14 models . Reuters reported on Friday that the Foxconn (2317.TW)-operated plant could see a further …

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US Black Friday online sales hit record $9 billion despite high inflation – Adobe Analytics

Nov 26 (Reuters) – US shoppers spent a record $9.12 billion online this Black Friday, a report showed on Saturday, as consumers weathered the squeeze from high inflation and grabbed steep discounts on everything from smartphones to toys. Online spending rose 2.3% on Black Friday, Adobe Inc’s (ADBE.O) data and insights arm Adobe Analytics said, …

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

Retailers in focus as Black Friday sales begin Activision down on likely FTC lawsuit to block Microsoft deal Apple slips, Foxconn China plant 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 …

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