Fanatics Slashes Stake in Novogratz-Backed NFT Firm
Fanatics Inc. has sold most of its stake in the digital-collectibles company Candy Digital amid turbulent times for nonfungible tokens.
Bloomberg Tech
‘Avatar 2’ Beats ‘Top Gun’ Sequel With $1.5 Billion in Global Sales
(Bloomberg) — Ticket sales for Walt Disney Co.’s Avatar: The Way of Water have reached the $1.52 billion mark, making it the highest-grossing film released in 2022.Â
Stitch Fix to Cut 20% of Salaried Workers as CEO Steps Down
Stitch Fix Inc. said Thursday that it will cut about 20% of salaried employees and that Chief Executive Officer Elizabeth Spaulding will step down.
Flexport Hires Ex-Microsoft Exec Carlson to Help Lead Expansion
Flexport Inc. has hired Teresa Carlson, a former Microsoft Corp. and Amazon.com Inc. executive, to help spearhead the supply-chain technology company’s expansion into global markets and philanthropic endeavors.
China’s Giant Chip Ambitions Fall Prey to Covid Turmoil
For years, China was the world’s biggest spender on chip incentives, a scale unmatched from Washington to Tokyo. Now, the effort to combat Covid and deal with the threat of a global recession is depleting state coffers and forcing Beijing to rethink that controversial approach.
Microsoft’s Union Ally Pushes FTC for Activision Merger Deal
(Bloomberg) — Microsoft Corp.’s newfound support for organized labor has given the company a powerful ally pushing the US Federal Trade Commission for a settlement to allow the software company’s $69 billion acquisition of Activision Blizzard Inc.Â
Ex-Celsius CEOÂ Is Sued by NY for Duping Crypto Investors
Former Celsius Network Ltd. Chief Executive Officer Alex Mashinsky, whose once high-flying crypto lender went bankrupt last year, was sued for fraud by the New York attorney general — the latest fallout from turmoil in the industry.
Ford More Than Doubles Electric Vehicle Sales as It Chases Tesla
Ford Motor Co.’s electric vehicle sales more than doubled last year in the US, fortifying its standing as No. 2 in the EV race behind Tesla Inc.
Western Digital, Kioxia Revive Merger Talks With Flash Memory Demand Sinking
Western Digital Corp. has restarted talks with Japan’s Kioxia Holdings Corp. in a deal that could unite two technology storage providers, according to people familiar with the matter.
Silvergate Tumbles After FTX Implosion Prompts $8.1 Billion Bank Run
Silvergate Capital Corp. shares plunged after the bank said the crypto industry’s meltdown triggered a run on deposits, prompting the company to sell assets at a steep loss and fire 40% of its staff.