Crypto exchange FTX lent billions of dollars worth of customer assets to fund risky bets by its affiliated trading firm, Alameda Research, setting the stage for the exchange’s implosion, a person familiar with the matter said. FTX Chief Executive Sam Bankman-Fried said in investor meetings this week that Alameda owes Read more…
“KFC has apologised after sending a promotional message to customers in Germany, urging them to commemorate Kristallnacht with cheesy chicken,” reports the BBC. The Nazi-led series of attacks in the country in 1938 left more than 90 people dead, and destroyed Jewish-owned businesses and places of worship. It is widely Read more…
Never tell people how to do things. Tell them WHAT to do and they will surprise you with their ingenuity. — Gen. George S. Patton, Jr.
Carvana, the used car dealer that trusts robotic algorithms to buy your car practically sight unseen, was the third-fastest company to ever make it onto the Fortune 500 — only Amazon and Google did it faster. But for the third day in a row, its stock is trading for just Read more…
The United Nations is betting that satellites could help the world catch up on emissions reductions. From a report: The organization has unveiled a Methane Alert and Response System (MARS) that, as the name implies, will warn countries and companies of “major” methane emission releases. The technology will use satellite Read more…
Amazon, one of the first companies to join the prestigious $1 trillion dollar valuation club, just passed another, admittedly less desirable milestone. This week, Jeff Bezos’ Everything Store became the first publicly traded company to lose $1 trillion in market valuation. The mind boggling figures, first noted by Bloomberg, are Read more…
