Category: BUSINESS
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Logitech suffers stock hit, sarcastic Amazon reviews over use on doomed Titan sub
Logitech took a stock hit and was flooded with negative and sarcastic reviews on its Amazon page after it was revealed the Swiss computer manufacturer was behind the video game controller used to navigate the ill-fated Titan submersible. According to OceanGate, the 21-foot sub was made with a handful of off-the-shelf components, including scaffolding poles…
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FTX sues former Hillary Clinton aide over $700 million in ‘misappropriated funds’
FTX is seeking to claw back some $700 million from a former aide to Hillary Clinton-turned Hollywood super agent who was allegedly showered with cash by disgraced fallen crypto mogul Sam Bankman-Fried. The bankrupt cryptocurrency exchange took legal action on Thursday against Michael Kives, who was an assistant to then-Sen. Hillary Clinton (D-N.Y.), and his…
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Mark Zuckerberg, Elon Musk privately ripped each other for years before ‘cage match’ challenge: report
A cage match between Elon Musk and Mark Zuckerberg would mark the culmination of a years-long rivalry between the two that has reportedly played out behind closed doors. Zuckerberg, who recently won his first amateur Brazilian jiujitsu tournament, set social media ablaze this week after he accepted the 51-year-old Twitter owner’s offer with a simple…
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Honda recalling 1.2M SUVs, minivans over rear camera issue
Honda Motor is recalling 1.2 million vehicles in the US due to a potential issue with the rearview camera image, the National Highway Traffic Safety Administration said Friday. The recall covers some 2018-2023 Odyssey minivans, 2019-2022 Pilot SUVs, and 2019-2023 Passport SUVs. Due to a faulty communication coaxial cable connector, the rearview camera image may not appear…
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Thousands of Starbucks workers across 150 stores to strike over Pride decorations
Some 3,500 unionized Starbucks employees began walking out Friday as part of a rolling nationwide strike at 150 restaurants to protest what they say is Starbucks’ policy of removing Pride decorations from its stores. Starbucks has denied the claims by Starbucks Workers United that the Seattle-based coffee giant banned in-store Pride decorations during Pride Month.…
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Goldman Sachs reportedly facing writedown on troubled $2.2B GreenSky deal
Goldman Sachs is likely to take a large writedown for its $2.2 billion acquisition of fintech lender GreenSky after seeking to divest the business it bought in 2021, CNBC reported on Friday, citing people with knowledge of the sale process. One bidder said GreenSky’s loan origination platform is worth roughly $300 million, while another said it was worth…
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‘Zombie’ buildings abandoned during commercial real estate ‘apocalypse’
Inflation in the new era of remote work is creating a global commercial real estate “apocalypse” where zombie properties sit vacant and owners with loans coming due hand their keys back to lenders, according to experts. “The apocalypse that’s facing commercial real estate at this moment is all about interest rates and debt maturities,” Harold…
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Ford supervisor allegedly followed worker home, raped her in bedroom
An employee at a Ford plant in Chicago was raped by her supervisor and sexually assaulted by at least five other co-workers before she was fired for complaining about the attacks, according to an explosive lawsuit filed this week against the auto giant. Paulette Hyneman, 43, of Glenwood, Ill., also alleged in the federal court…
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‘Destroyed the company’: Software giant Anaplan begins layoffs after Thoma Bravo’s $10.4B buyout deal
Mass layoffs are underway at business software giant Anaplan, The Post has learned – with some impacted workers grumbling that buyout firm Thoma Bravo has “destroyed the company” since taking it private in a $10.4 billion deal last year. The total number of Anaplan layoffs is believed to be significant, with hundreds of workers affected,…
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DraftKings, Fanatics vie for PointsBet — after scrapping $48B merger, sources say
“Jason’s Revenge” is the latest attraction in sports betting — not in a horror flick, but in a high-profile merger battle. DraftKings CEO Jason Robins — currently pitted against Michael Rubin, the billionaire boss of Fanatics to buy the PointsBet sports betting business — has made his rival bid two years after DraftKings and Fanatics…