Funds Vanish At Bankrupt Crypto Exchange FTX; Probe Underway
Collapsed cryptocurrency trading firm FTX confirmed there was “unauthorized access” to its accounts, hours after the company filed for Chapter 11 bankruptcy protection Friday. The embattled company’s new CEO John Ray III said Saturday that FTX is switching off the ability to trade or withdraw funds and taking steps to secure customers’ assets, according to […]
Recession Looms As UK Economy Starts To Shrink
The UK appears to be heading into recession after the latest official figures showed the economy shrank between July and September. The economy contracted by 0.2% during the three months as soaring prices hit businesses and households. A country is in recession when its economy shrinks for two three-month periods in a row. The UK […]
Crypto Crash And Gold Sell-off Show There’s No Place For Investors To Hide
The spectacular implosion of cryptocurrency exchange FTX, a so-called unicorn startup that was recently valued at $32 billion, is just the latest bit of bad news for investors in bitcoin, ethereum and other digital assets. But 2022 was already an awful year for crypto before the FTX-Binance soap opera. Bitcoin prices are currently hovering around $16,500, down from a […]
FCT Minister Orders Reopening Of Dutse Alhaji Market
Minister of the Federal Capital Territory (FCT) Mallam Muhammad Musa Bello, has ordered the reopening of the Olajumoke Akinjide Shopping Arcade, Dutse-Alhaji, four days after the market was shut down for gross violation of the land use act. The senior special assistant to the FCT minister on Monitoring, Inspection, and Enforcement, Comrade Ikharo Attah, who […]
Twitter: Musk Defends Deep Cuts To Company’s Workforce
Twitter’s new owner Elon Musk says he had “no choice” but to slash the company’s workforce as the firm is losing more than $4m (£3.5m) a day. Half of the company’s staff are being let go, a week after Mr Musk bought Twitter in a $44bn (£38.7bn) deal. Twitter staff have been using the platform […]
Biden Warns Of Windfall Tax On ‘war profiteering’ Oil Companies
US President Joe Biden has criticised oil and gas companies for recording big profits after crude prices surged following Russia’s invasion of Ukraine. Biden, speaking ahead of the November 8 mid-term elections, warned that if leading oil companies do not invest some of their profits to lower costs for American consumers, they could face a […]
South Africa: Elon Musk Approached Glencore CEO About Buying Stake In JSE-listed Mining Giant
The world’s richest man, SA-born Elon Musk, held talks with Glencore, which is headed by South African Gary Nagle, over the possibility of Tesla buying as much as a fifth of the mining and commodity giant, according to a report by the Financial Times. This comes on the heels of Musk closing his R805 billion takeover of […]
Twitter May Charge $20 Per Month For Verification
Twitter’s new “Chief Twit” Elon Musk is reportedly considering making verification a Twitter Blue feature, while simultaneously quadrupling the subscription service’s cost. This would essentially mean charging users a monthly $20 fee to keep their blue tick verification badge. Predictably, many users have indicated they’d rather just be unverified. The new Musk Era of Twitter […]
Elon Musk Visits Twitter Carrying Sink As Deal Looms
Elon Musk has posted a video of himself walking into Twitter’s headquarters carrying a sink, raising speculation about the fate of his planned takeover. The billionaire faces a Friday deadline to complete the $44bn (£38bn) purchase, which he announced months ago but then tried to abandon. He agreed to move forward earlier this month, just […]
California’s Cannabis-growing Nuns Pray For Profits
Merced County sits in the middle of California’s Central Valley. For as far as the eye can see, there are identical rows of crops, with the occasional farmhouse or family home. One of these homes looks unassuming from the outside. There’s nothing unusual about the building or the land around it, except that there’s a […]
