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Monthly Archives: August 2023

Why activist Astra Taylor is not giving up on student loan forgiveness

Astra Taylor Source: Isabella De Maddalena In 2014, Astra Taylor co-founded the Debt Collective, the first union for debtors. Since then, one of her main goals has been to get student debt canceled. The last year or so has been bittersweet: First, in what felt like a major victory, President …

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Telesat swaps internet satellite suppliers to save $2 billion

A rendering of Telesat’s low earth orbit broadband constellation Telesat Shares of Canadian telecommunications satellite operator Telesat surged on Friday after the company announced it would swap suppliers for its planned Lightspeed global internet network. Canadian space company MDA will now build the Lightspeed satellites, taking the place of French-Italian …

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Judge to decide if ex-FTX CEO Sam Bankman-Fried goes to jail

Indicted FTX founder Sam Bankman-Fried leaves the U.S. Courthouse in New York City, July 26, 2023. Amr Alfiky | Reuters A New York judge will decide on Friday, during a hearing that starts at 2 p.m. ET, whether to send Sam Bankman-Fried to jail. Federal prosecutors have asked U.S. District …

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Workers most likely to say a 4-day workweek would improve productivity

A majority, 81%, of workers say they’d be more productive if they were given the chance to work a four-day workweek, and it could be an even bigger boost for those facing high rates of burnout, according to new research. The poll was conducted on Fishbowl by Glassdoor and considers …

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Goldman Sachs-backed Starling to expand in Asia-Pacific market

The Starling Bank app displayed on a person’s phone. Adrian Dennis | AFP via Getty Images British digital bank Starling is planning its first expansion outside of Europe, targeting a move into Asia-Pacific, CNBC has learned. The digital lender, which is backed by Goldman Sachs, is in talks with an …

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Investors are ‘overconfident’ about the A.I. impact, strategist says

An AI (Artificial Intelligence) sign is seen at the World Artificial Intelligence Conference (WAIC) in Shanghai, China July 6, 2023.  Aly Song | Reuters Market participants are “overconfident” about their ability to predict the long-term effects of AI, according to Mike Coop, chief investment officer at Morningstar Investment Management. Despite …

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Conservative outlook doesn’t mar faith in consumer

Ralph Lauren CEO Patrice Louvet told CNBC’s Jim Cramer on Thursday that even though the company didn’t raise its full-year guidance in its fiscal first-quarter earnings report, he feels optimistic about the future and has faith in the brand’s core consumer. Ralph Lauren saw revenue come in at $1.5 billion, …

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U.S. executive order on China shows it’s learning from Russia mistakes

The White House has announced a ban on some U.S. investment in China in sensitive technologies such as computer chips in the latest ratcheting up of Washington’s disassociation from Beijing amid perceived national security risks. Drew Angerer | Getty Images News | Getty Images LONDON — U.S. moves to de-risk …

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Huawei H1, Q2 2023 earnings report

Huawei’s production campus is pictured here on April 25, 2019, in Dongguan, near Shenzhen, China. Kevin Frayer | Getty Images News | Getty Images BEIJING — Chinese tech giant Huawei on Friday reported 2.2% year-on-year growth in its consumer business revenue for the first half of the year. The modest …

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Country Garden shares hit record low after profit warning

Country Garden Holdings Co.’s Fengming Haishang residential development in Shanghai, China, on Tuesday, July 12, 2022. Qilai Shen | Bloomberg | Getty Images Shares of beleaguered Chinese real estate company Country Garden Holdings slumped to an all-time low on Friday as the company issued a profit warning a day earlier. …

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