BlockFi seeks protection as FTX collapse rocks crypto

BlockFi seeks protection as FTX collapse rocks crypto

Cryptocurrency lender BlockFi is filing for Chapter 11 bankruptcy protection as the fallout from the collapse of crypto exchange FTX spreads outward. In a Monday filing for bankruptcy protection in New Jersey, where it is based, BlockFi claimed more than 100,000 creditors and liabilities ranging from $1 billion to $10 billion. “Chapter 11 is a … Read more

Medtronic Lowers Earnings Guidance. The Stock Is Falling.

Medtronic Lowers Earnings Guidance.  The Stock Is Falling.

Medtronic stock was falling Tuesday after the medical device maker missed fiscal second-quarter sales expectations and lowered its earnings guidance for the year. Medtronic (ticker: MDT) reported adjusted earnings of $1.30 a share on revenue of $7.59 billion in its fiscal second quarter, compared with adjusted earnings of $1.32 a share on revenue of $7.85 … Read more

The PC boom has failed and we’re about to see the results leading up to Black Friday

The PC boom has failed and we’re about to see the results leading up to Black Friday

The pandemic-fueled personal computing boom has come to an end, so how will that affect demand and prices for PCs and the retailers selling them this holiday season? An idea of ​​the consequences will be given in the coming week with results from PC makers Dell Technologies Inc. DELL, +0.67% and HP Inc. HPQ, +0.17%, … Read more

How Qatar dropped the beer at the World Cup

How Qatar dropped the beer at the World Cup

DOHA, Qatar—When Qatar made its unlikely proposal to host the World Cup in a small Muslim Gulf state, officials laid out their plan in great detail, including air-conditioned stadiums and extensive transportation networks. However, according to people familiar with the bid, Qatar was deliberately remaining vague about how it would handle one aspect of the … Read more

GM has a new business: repairing Tesla EVs

GM has a new business: repairing Tesla EVs

General engines said something surprising at investor day in New York City on Thursday. Repairing Teslas is a growing business for the 114-year-old automaker. Correct. GM (ticker: GM) dealers repair Teslas. As of 2021, GM dealers have repaired more than 11,000 electric vehicles Tesla (TSLA), according to GM President Mark Reuss.

Home Depot Earnings Top Estimates. Customers are “resilient,” says CFO.

Home Depot Earnings Top Estimates.  Customers are “resilient,” says CFO.

DIY store Earnings for the third quarter beat expectations, boosting the stock on Tuesday. The home improvement retailer reported third-quarter earnings of $4.24 per share, beating analyst forecasts of $4.12 per share. Revenue was $38.9 billion, up 5.6% from a year earlier and surpassing estimates of $38 billion. Same-store sales rose 4.3%, more than forecast … Read more

Alibaba, Tencent, Hong Kong tech stocks lead higher on optimistic Chinese online retail sales

Alibaba, Tencent, Hong Kong tech stocks lead higher on optimistic Chinese online retail sales

Shares of Chinese internet giants rose in Hong Kong after official data in October showed better-than-expected retail sales in the world’s second-largest economy. Alibaba Group Holding Ltd. BABA, +0.79% 9988, +10.84% jump 9.8%, Kuaishou Technology 1024, +9.44% rose 8.7%, Tencent Holdings Ltd. 700, +10.13% rose 8.0% and Meituan 3690, +6.96% increased by 5.8%. The Hang … Read more

News Corp Says Foreign Currency, Lower Book Sales on Amazon Weighing on Results

News Corp Says Foreign Currency, Lower Book Sales on Amazon Weighing on Results

News Corp NWSA 2.21% reported slightly lower sales in the last quarter as currency movements and a decline in book publishing more than offset continued growth at Dow Jones & Co, the parent company of the Wall Street Journal. The New York-based media company, which owns Journal, HarperCollins Publishers and news organizations in the United … Read more

Michelle Obama, Mike Pence Books Square Off As Publishers Hope For A Jolt Vacation

Michelle Obama, Mike Pence Books Square Off As Publishers Hope For A Jolt Vacation

New books from former First Lady Michelle Obama and former Vice President Mike Pence, each slated for release on November 15, are among the high-profile titles publishers hope will boost sales this holiday season after a slow year. Mrs. Obama and Mr. Pence will meet in bookstores a week after the midterm elections, with books … Read more