Archegos Capital Management founder Sung Kook “Bill” Hwang has been convicted of fraud and other charges by a jury in a Manhattan federal court at a criminal trial in which prosecutors accused him of market manipulation ahead of the 2021 collapse of his $36bn private investment firm. On Wednesday, the…
The US judge said the federal law governing benefit plans did not cover the former employees’ claims. Elon Musk has won dismissal of a lawsuit claiming he refused to pay at least $500m of severance to thousands of Twitter employees he fired in mass layoffs after buying the social media company…
Media organisations including CNN have struggled to grow audiences and revenue and are trying new offerings. CNN is eliminating approximately 100 jobs and plans to debut its first digital subscriptions before the end of the year as the news network leans into reshaping its business. In a memo sent to staff…
The US Department of Justice reports that it disrupted a Russian-government-backed, AI-enabled propaganda campaign to use a bot farm to spread disinformation. The United States Department of Justice (DOJ) has disrupted a Russian operation that used fake social media accounts enhanced by artificial intelligence to covertly spread pro-Kremlin messages in…
The United States Federal Reserve faces a cooling job market as well as persistently high prices, Chairman Jerome Powell has said in testimony to the US Congress, a shift in emphasis away from the Fed’s single-minded fight against inflation of the past two years that suggests it is moving closer…
Agents checked 35 passengers per second as travel surged to a new high on Sunday, July 7. More than three million people passed through United States airport security on Sunday, the first time that number of passengers have been screened in a single day as travel surges, according to the…
Beryl made landfall near Texas town on Monday, posing problems for the heart of the US energy sector. The Texas energy industry was evaluating the impact from Hurricane Beryl after the powerful storm lashed the United States’ Gulf Coast, closing key shipping ports and hitting the oil refining and production…
Weeks since protests began, determined Kenyans continue going out to voice their frustrations with the government. But when demonstrators first took to the streets in June to rally against proposed tax hikes, it was not only President William Ruto and members of parliament who came under fire. In the protests…
Varanasi, India – In India, some members of Generation Z prefer temples over nightclubs. Shivam Dwivedi, a native of Prayagraj district in the northern Indian state of Uttar Pradesh, prays at a neighbourhood temple at least twice a week. The 19-year-old and his friends have shunned trips to beach and…
Complaints to US government from travellers are the highest since the COVID pandemic when airlines were slow to refund. Air travel got more miserable last year, if the number of consumer complaints filed with the United States government is any measure. The Department of Transportation said Friday that it received…
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