Month: November 2022

: New York attorney general alleges fraud involving major nursing home owner deprived seniors of basic care 

The New York attorney general on Tuesday filed a lawsuit alleging a long-running financial fraud involving a major owner of U.S. nursing homes.  The lawsuit involves a single New York nursing home allegedly controlled by Long Island nursing home investor Ephram Lahasky and his partners. The facility’s owners diverted funds intended for resident care to increase their personal profits, New

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Earnings Results: Salesforce co-CEO Bret Taylor leaving, stock falls after lower-than-expected forecast

Salesforce Inc. performed better than expected in the third quarter, but executives issued a fourth-quarter forecast that fell short of expectations on Wednesday and revealed that co-Chief Executive Bret Taylor is leaving the company. Salesforce CRM, +5.65% shares fell more than 6% after hours, after rising about 5.5% in the regular session to close at $159.97, their fifth gain in

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Earnings Results: Okta CEO promises profit for all of next year — ‘The problem was never that we didn’t have talented sales people’

Okta Inc. executives on Tuesday said they will report an adjusted profit in the fourth quarter and, in a surprise, predicted profitability for all of next fiscal year, trumping profit concerns stemming from recent sales-operation issues. For the fourth quarter, Okta OKTA, +4.04% guided for adjusted earnings of 9 cents to 10 cents a share on revenue of $488 million

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What’s Worth Streaming: From ‘Glass Onion’ to ‘1923,’ here’s what’s worth streaming in December 2022

Five of the biggest movies of the year for less than $35 in total — sounds like a pretty good deal, right? That’s one way to look at December’s streaming options, as subscribing to three services can get you four likely Oscar contenders (Netflix’s “Glass Onion,” “White Noise” and “Pinocchio,” and Apple’s “Emancipation”) as well as the most popular movie

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Proof of Reserves: A Trust Standard for Centralized Exchanges

Key Takeaways The recent FTX liquidity crisis highlighted the need for the industry to mature, and find solutions to improve transparency. Many exchanges have adopted Proof-of-Reserves, a method that uses cryptography to confirm possession of sufficient assets to cover liabilities. Phemex, one of the leading exchanges in the crypto industry, recently released its Proof-of-Reserves, liabilities and solvency. Share this article

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The Ratings Game: CrowdStrike stock heads for worst day ever as slowing subscriptions prompt debate on business spending

Shares of CrowdStrike Holdings Inc. were on track for their worst day ever as new subscriptions grew more slowly than expected, prompting a majority of analysts to cut price targets on the cybersecurity company and debate whether its broader enterprise spending outlook was a risk. CrowdStrike CRWD, -15.14% shares dropped as much as 21% Tuesday and were last down 18%

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Crypto Exchange Kraken Cuts Global Workforce by 30%

Kraken, one of the longest running cryptocurrency exchanges, has shed its global workforce by 30%, firing approximately 1,100 people “in order to adapt to current market conditions.” Grab your copy of our latest Quarterly Intelligence Report for Q3 2022 before your competitors and stay up-to-date with crucial developments in the Forex and CFD industry! The action, which the United States-based

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The Tell: One of Wall Street’s biggest bulls now sees stocks falling early next year as Fed ‘overtightens’

Once one of Wall Street’s most vocal bulls, JP Morgan Chase & Co. equity analyst Marko Kolanovic, released a much more downbeat outlook for stocks on Wednesday, calling for equity prices to stumble early next year as the Federal Reserve’s interest-rate rises batter the U.S. economy. Two weeks ago, Kolanovic said that he felt the rebound in stocks was overdone

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: Hardship withdrawals from 401(k)s reach ‘concerning’ all-time high, Vanguard says

Amid stubbornly high inflation, a record-breaking share of Americans are turning their 401(k) accounts into emergency piggy banks, according to Vanguard. Dissecting data from a sample of the approximately 5 million employer-sponsored 401(k) accounts that Vanguard handles, researchers said 0.5% of account holders were making hardship withdrawals in October. That’s a “concerning” all-time high, said Vanguard, the retirement-savings and asset-management

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: Venture firm Champel Capital leads Intelligent Traffic Control investment, eyes fintech and agritech despite choppy waters for capital deployment

Champel Capital Ltd. said Wednesday it led a $5 million Series A round of venture capital for Israel-based Intelligent Traffic Control (ITC) as the firm continues deploying capital despite economic headwinds. Intelligent Traffic Control specializes in computer vision and machine learning algorithms that help predict traffic patterns and prevent traffic congestion, with Mobilitech Capital as co-lead investor on the deal

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The New York Post: Fear mounts that Iran players will face government retribution after World Cup loss to U.S. and anthem ruckus

Iran’s national soccer team faces potential retribution in the Islamic Republic after coming up short in Tuesday’s showdown against the United States. Mike Baker, a former CIA covert operations officer, told the New York Post that the Iranian players are stuck in an “untenable position” after their much-hyped match against the United States, which defeated Iran 1-0 to advance to the

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Market Extra: Here’s what stock-market investors are getting wrong about China and its zero-COVID policy, economists say

Investors took some cheer this week from China’s latest COVID policy after massive anti-lockdown protests erupted across the country, rattling global financial markets, but economists think that markets have placed a “too high probability” on restrictions being relaxed soon.   China’s National Health Commission said on Tuesday it would ramp up COVID vaccinations for the elderly and pledged to rectify

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: 5 things to know about the new Alzheimer’s drug — including why it may be risky for people who take blood thinners

Shares of Eisai and Biogen did not move dramatically after the drug companies reported the full results of the clinical trial for their experimental Alzheimer’s disease therapy, but the findings point to a stable future for lecanemab once it is approved by the U.S. Food and Drug Administration.  Shares of Eisai 4523, +3.83% were up 3.8% in after-hours trading on

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Beth Pinsker: Win or lose, crypto investors find a reason to remain all-in — ‘nobody wants to get rich slow,’ advisers say

Despite bad news about cryptocurrencies — the monumental price drops, the bankruptcies, the thefts, the corruption — true believers aren’t looking for a way out. In fact, it’s usually the opposite. Financial adviser Chelsea Ransom-Cooper has a client who had large holdings of cryptocurrency that he sold last year, making incredible returns. For early adopters, total returns on bitcoin BTCUSD,

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Market Snapshot: U.S. stock futures struggle for direction as investors eye Powell speech

U.S. stocks were trading near unchanged Wednesday as traders looked ahead to a speech from the Federal Reserve chairman and digested a heavy round of economic data, including a weaker-than-expected reading on private-sector payrolls and an upward revision to third-quarter economic growth. How are stocks trading The Dow Jones Industrial Average DJIA, -0.25% was down 6 points, or less than

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2022 in Review: the Top 10 Crypto Villains of the Year

Key Takeaways Several ego-driven crypto personalities suffered huge falls from grace in 2022. Terra’s failure exposed some of the crypto ecosystem’s biggest villains. Policymakers and scammers also harmed the space this year. Share this article URL Copied SBF, Kwon, 3AC, and more: 2022 was a packed year for crypto villains.  The Crypto Villains of the Year  The Crypto Briefing editorial

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