Convoy Inc., a Seattle-based trucking startup whose investors include Jeff Bezos and Bill Gates, is closing down its business after a four-month search for an acquirer failed, its founder and Chief Executive Officer Dan Lewis told employees in memo Thursday informing them, “Today is your last day at the company.”
Tesla Inc.’s price cuts this year show customers are no longer willing to pay a premium for its vehicles. That raises a key question on Wall Street: Does its lofty stock-market valuation make sense anymore?
Peloton Interactive Inc. picked up another sell-equivalent rating on Thursday as Bank of America Corp. downgraded the fitness company on concern around the outlook for subscriber results.
Gemini Trust Co. and Barry Silbert’s Digital Currency Group were sued by New York’s top law-enforcement officer for allegedly defrauding customers of $1.1 billion, escalating legal woes for two companies hit hard by last year’s plunge in cryptocurrency markets.
Apollo Global Management balked at a last-minute rescue of FTX after learning billions of dollars in customer funds were unaccounted for and the exchange wasn’t able to provide legal justifications for the shortfall, a former top lawyer at Sam Bankman-Fried’s crypto empire testified.
US regulators voted Thursday to reinstate rules aimed at ensuring that everything on the internet is equally accessible — a principle known as net neutrality that has stoked debate and controversy across technology and telecom industries for more than two decades.
Intensifying Chinese pressure on Taiwan is prompting some equity investors to buck the trend and exit Taiwan Semiconductor Manufacturing Co.
Wall Street was hit by heightened volatility as Jerome Powell said Federal Reserve officials will proceed carefully with interest-rate hikes, while noting there’s evidence that policy isn’t “too tight” right now.
Powell was scheduled to go on “speedy” trial on Oct. 23, along with another co-defendant Kenneth Chesebro. Now, she may testify against Trump.
DraftKings Inc., which has played second fiddle in online gambling to rival FanDuel in recent years, has taken the top spot in US market share, an analyst said.
