Tag: business news

FTX founder Sam Bankman-Fried appeals fraud conviction, 25-year prison sentence

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[ad_1] Sam Bankman-Fried, the founder of bankrupt cryptocurrency exchange FTX, arrives at court as lawyers push to persuade the judge overseeing his fraud case not to jail him ahead of trial, at a courthouse in New York, August 11, 2023. Eduardo Munoz | Reuters A lawyer for FTX founder Sam Bankman-Fried on Thursday filed a notice of appeal of his federal fraud and conspiracy conviction and his 25-year prison sentence. Bankman-Fried’s appeal came two weeks after he was sentenced in U.S. District Court in Manhattan and ordered to pay $11…

Trump is about to face trial on criminal hush money charges. Here's what to know

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[ad_1] Former U.S. President Donald Trump speaks from the hallway outside a courtroom where he is attending a hearing in his criminal case on charges stemming from hush money paid to a porn star, in New York City on March 25, 2024. Brendan Mcdermid | Reuters Donald Trump has used every legal tool at his disposal to try to dismiss, diminish or delay the four active criminal cases against him. But on Monday, barring a last-minute court intervention, Trump will become the first former president ever to be tried on…

Wholesale prices rose 0.2% in March, less than expected

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[ad_1] A measure of wholesale prices increased less than expected in March, providing some potential relief from worries that inflation will hold higher for longer than many economists had expected. The producer price index rose 0.2% for the month, less than the 0.3% estimate from the Dow Jones consensus and not as much as the 0.6% increase in February, according to a release Thursday from the Labor Department’s Bureau of Labor Statistics. However, on a 12-month basis, the PPI climbed 2.1%, the biggest gain since April 2023, indicating pipeline pressures…

Microsoft will unveil new Windows and cloud AI features in May

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[ad_1] Mustafa Suleyman, co-founder and chief executive officer of Inflection AI UK Ltd., speaks at the World Economic Forum in Davos, Switzerland, on Jan. 18, 2024. Stefan Wermuth | Bloomberg | Getty Images Microsoft will reveal brand-new artificial intelligence tools for use on PCs and in the cloud at its annual Build conference, according to a session list posted Wednesday. In January, Microsoft CEO Satya Nadella told analysts that 2024 is the year when “AI will become [a] first-class part of every PC,” and the itinerary for Microsoft’s May conference…

Hot inflation data pushes market’s rate cut expectations to September

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[ad_1] Traders work on the floor of the New York Stock Exchange during afternoon trading on April 09, 2024 in New York City. Michael M. Santiago | Getty Images As recently as January, investors had high hopes that the Federal Reserve was about to embark on a rate-cutting campaign that would reverse some of the most aggressive policy tightening in decades. Three months of inflation data have brought those expectations back down to earth. March’s consumer price index report Wednesday helped verify worries that inflation is proving stickier than thought,…

A crucial report Wednesday is expected to show little progress against inflation

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[ad_1] Shoppers are seen in a Kroger supermarket on October 14, 2022, in Atlanta, Georgia.  Elijah Nouvelage | AFP | Getty Images A closely watched Labor Department report due Wednesday is expected to show that not much progress is being made in the battle to bring down inflation. If so, that would be bad news for consumers, market participants and Federal Reserve officials, who are hoping price increases slow enough so that they can start gradually cutting interest rates later this year. The consumer price index, which measures costs for…

Google unveils custom Arm-based chips, following similar efforts at rivals Amazon and Microsoft

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[ad_1] Google is trying to make cloud computing more affordable with a custom-built Arm-based server chip. At its Cloud Next conference in Las Vegas on Tuesday, the company said the new processor will become available later in 2024. With the new Arm-based chip, Google is playing catch-up with rivals such as Amazon and Microsoft, which have been employing a similar strategy for years. The tech giants compete fiercely in the growing market for cloud infrastructure, where organizations rent out resources in faraway data centers and pay based on usage. Google…

Costco selling as much as $200 million in gold bars monthly, Wells Fargo estimates

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[ad_1] Costco selling 1 ounce gold bars Courtesy: Costco Gold has turned into money for Costco, where yellow metal sales begun last year have turned into a cash cow for the big-box retailer. In fact, sales are so brisk that analysts at Wells Fargo expect revenue “may now be running at” $100 million to $200 million a month, a rapid acceleration since bullion hit the warehouse club late in the summer of 2023. “Our work suggests there has been significant interest given COST’s aggressive pricing and high level of customer…

Tesla settles lawsuit over Autopilot crash that killed Apple engineer

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[ad_1] A Tesla Model X burns after crashing on U.S. Highway 101 in Mountain View, California, U.S. on March 23, 2018.  S. Engleman | Via Reuters Tesla has settled a wrongful death lawsuit brought by the family of Walter Huang, an Apple engineer and father of two who died after his Model X SUV, with Autopilot features switched on, crashed into a highway barrier near Mountain View, California, in 2018. The settlement comes as jury selection and a trial were just beginning on Monday in a California Superior court. The…

Trump loses last-minute bid to halt hush money trial while he seeks new venue

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[ad_1] Former U.S. President Donald Trump speaks on the phone at the 18th green during day three of the LIV Golf Invitational – Miami at Trump National Doral Miami on April 07, 2024 in Doral, Florida.  Megan Briggs | Getty Images A New York appeals court judge on Monday swiftly rejected a last-ditch bid by Donald Trump to delay his upcoming criminal hush money trial while he seeks to move the case to another court. Judge Lizbeth Gonzalez denied Trump’s request on the same day his attorneys filed it, and…