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Monthly Archives: October 2022

Bitcoin miner Core Scientific warns it might go bankrupt, stock plunges

An array of bitcoin mining units inside a container at a Cleanspark facility in College Park, Georgia, U.S., on Friday, April 22, 2022. Elijah Nouvelage | Bloomberg | Getty Images Core Scientific, one of the largest publicly traded crypto mining companies in the U.S., raised the possibility of bankruptcy in …

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Amazon to open Kuiper internet satellite factory

Rendering of a United Launch Alliance’ Atlas V rocket carrying Amazon satellites. ULA/Amazon Amazon said on Thursday it will open a new plant in a Seattle suburb to build satellites for Project Kuiper. Project Kuiper, unveiled in 2019, is Amazon’s plan to build a network of 3,236 satellites in low …

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The 5 most in-demand freelance jobs employers are hiring for right now

Freelancing is on the rise, and it shows no signs of slowing.  Some 60 million U.S. residents identify as contract, freelance, temporary or gig workers, and by 2027, freelancers are expected to become the majority of the U.S. workforce, according to Upwork, a freelance job platform.  The Covid-19 pandemic caused …

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Meta is no longer one of the 20 biggest U.S. companies

Mark Zuckerberg during Metaverse conversation on CNBC Source: CNBC Sixteen months after Facebook crossed $1 trillion in market cap, joining an exclusive club consisting of Apple, Microsoft, Alphabet and Amazon, its parent company Meta is worth less than Home Depot and barely more than Pfizer and Coca-Cola. Far from Facebook’s …

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Last chance to earn 9.6% with ‘nearly risk-free’ I bonds

If you’ve been looking for an investment to keep up with inflation, everyone from your financial planner to your dad to Suze Orman has likely recommended looking into Series-I savings bonds, also known as “I bonds.” It’s easy to see why. These inflation-adjusted bonds backed by the U.S. government pay …

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Shopify (SHOP) Q3 2022 earnings

Shares of Shopify jumped 18% after the e-commerce company reported earnings that beat Wall Street’s revenue estimates and a narrower-than-expected loss for the third quarter. Loss per share: loss of $0.02, adjusted, vs. loss of 0.07 expected by analysts according to Refinitiv. Revenue: $1.37 billion vs $1.33 billion expected, according …

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Rent the Runway, one-year after IPO, is down 90%

While Rent The Runway closed its retail stores due to the pandemic, it still has a network of drop-off locations in major cities, including New York. Shannon Stapleton | Reuters In this weekly series, CNBC takes a look at companies that made the inaugural Disruptor 50 list, 10 years later. …

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Gen Z and millennials prefer ‘buy now, pay later’ services

This is an excerpt from the CNBC Make It newsletter. Subscribe here. From Klarna to Affirm to Afterpay, various “buy now, pay later” services are popping up as a popular alternative to traditional credit cards, especially among younger consumers. These microloans allow users to split a purchase into multiple equal payments …

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Restaurant operating hours are still shorter compared to 2019

Veselka is serves from its original location, which opened in 1954 in Manhattan’s East Village neighborhood. CNBC Make It It’s not just your imagination. Restaurants aren’t open as long as they used to be. Eateries have trimmed their weekly operating hours by 7.5%, or 6.4 hours, compared with pre-pandemic schedules, …

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Musk says Twitter ‘cannot become a free-for-all hellscape’

In this photo illustration, the image of Elon Musk is displayed on a computer screen and the logo of twitter on a mobile phone in Ankara, Turkiye on October 06, 2022. Muhammed Selim Korkutata | Anadolu Agency | Getty Images On the eve of his deadline to acquire Twitter to …

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