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Monthly Archives: November 2022

Europe’s gas price cap leaves some nations dismayed

Commissioner for energy Kadri Simson is talking to media. EU countries are debating new steps to deal with the energy crisis. Thierry Monasse | Getty Images News | Getty Images Several EU member states are not happy with the bloc’s proposed cap on natural gas prices — at 275 euros …

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Baidu claims its robotaxis rival traditional ride-hailing in parts of China

Baidu got approval to charge fares for its robotaxi rides in the Beijing suburb of Yizhuang in November 2021. Vcg | Visual China Group | Getty Images BEIJING — Chinese tech company Baidu said its robotaxi business in large cities is close to gaining the same traction with locals as …

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Credit Suisse projects $1.6 billion fourth-quarter loss

Switzerland’s second largest bank Credit Suisse is seen here next to a Swiss flag in downtown Geneva. Fabrice Coffrini | AFP | Getty Images Credit Suisse on Wednesday projected a 1.5 billion Swiss franc ($1.6 billion) fourth-quarter loss as it undertakes a massive strategic overhaul. The embattled lender last month …

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New York governor signs law cracking down on bitcoin mining

These machines, known as mining rigs, work round the clock to find new units of cryptocurrency. Benjamin Hall | CNBC New York Gov. Kathy Hochul signed a law Tuesday banning certain bitcoin mining operations that run on carbon-based power sources. For the next two years, unless a proof-of-work mining company …

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China may have ‘passed the point of no return’ as Covid infections soar

Beijing’s business district lay nearly empty during rush hour on Nov. 22, 2022, after local authorities asked people to work from home, among many measures targeted at controlling the latest Covid outbreak. Kevin Frayer | Getty Images News | Getty Images BEIJING — Surging Covid infections across mainland China make …

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The Way of Water’ gets coveted China release

Set more than a decade after the events of the first film, “Avatar: The Way of Water” tells the story of the Sully family Disney Disney’s “Avatar: The Way of Water” has landed a coveted release in China, a promising sign for a film that needs big box office sales …

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CME’s Terry Duffy says he saw trouble before FTX collapse

A major exchange executive says he detected red flags months before the historic FTX collapse. CME Group chairman and CEO Terry Duffy said he suspected corruption at the cryptocurrency exchange the day of his first one-on-one meeting with founder Sam Bankman-Fried. “I told my team this had nothing to do …

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China shows signs of easing its intense crackdown on the gaming sector

Chinese regulators have increased scrutiny on the domestic game sector over the past year and a half. But new batches of game approvals and positive steps on improving gaming addiction among kids under 18 years old, could be positive signs that the crackdown is easing. Xing Yun | Costfoto | …

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FTX lawyer says in first bankruptcy hearing this is different ‘animal’

Lawyers for collapsed crypto exchange FTX said in the company’s first bankruptcy hearing on Tuesday that regulators from the Bahamas, where FTX was headquartered, have agreed to consolidate proceedings in Delaware. FTX’s lawyers, who were brought in by new leadership to handle restructuring, filed an emergency motion last week to …

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I still see another bad quarter ahead for Ford Motor

Ford Motor Co: “I still see another bad quarter ahead because they don’t have the right inventory, and then maybe things can get better.” Duolingo Inc: “Everyone I know loves it. … However, it’s not doing well financially, so therefore I’m not going to give it my blessing.” ImmunoGen Inc: …

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