business

Startups reckoning with an end to cheap capital face hard decisions

Cube CEO Christina Ross (middle) with her team cube When Cube CEO Christina Ross kicked off fundraising efforts for her financial planning software startup in February, cloud stocks were already down 40% from their 2021 highs. They had a lot further to drop over the next few months. By the time Cube announced its $30 …

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9 Companies That Hoarded Customers’ Money as Crypto Crashed

Traders work on the floor of the New York Stock Exchange (NYSE) on May 5, 2015 in New York City.photo: Spencer Platt (Getty Images) There’s no getting around it, June was a disastrous month for cryptocurrency. Though cryptocurrency prices have trended down for the better part of 2022, investors truly had the rug pulled out …

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Shell to build ‘Europe’s largest renewable hydrogen plant’

On Wednesday, Shell said the Holland Hydrogen I facility would be “Europe’s largest renewable hydrogen plant” when operations start in 2025. Shell is one of several big firms looking to lay down a marker in the sector. Ina Fassbender | AFP | Getty Images Plans to build a major hydrogen plant in the Netherlands will …

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UK Antitrust Investigation Is Latest Microsoft-Activision Acquisition

Microsoft announced its nearly $69 billion purchases of massive gaming company, Activision Blizzard in January. But the road to acquisition hasn’t been smooth for the two companies, and the deal isn’t sealed yet. Now, another speedbump has appeared. The Competition and Markets Authority (CMA), a United Kingdom regulatory agency, is undertaking a formal investigation into …

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Electric truck maker Rivian’s stock surges as deliveries triple

Rivian Automotive delivered 4,467 vehicles in the second quarter, nearly four times more than the preceding quarter, as the electric-vehicle maker benefited from a ramp-up in production and strong demand. The company also said on Wednesday it was on track to meet its annual production target of 25,000 units after output jumped 72% sequentially to …

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North Korean government hackers hit health services with ransomware, US agencies warn

CNN — North Korean government-backed hackers have in the last year targeted multiple health organizations with ransomware, in some cases disrupting health services for “prolonged periods,” the FBI and other US agencies warned on Wednesday. The North Koreans have used the ransomware — a type of malicious computer code that locks computer files — to …

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GameStop jumps in extended trading after announcing 4-for-1 stock split

A screen displays the logo and trading information for GameStop on the floor of the New York Stock Exchange (NYSE) March 29, 2022. Brendan McDermid | Reuters Shares of GameStop jumped more than 8% in extended trading Wednesday after the retailer said a 4-for-1 stock split was approved by its board. Shareholders who own the …

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American Airlines pilots get triple pay for trips dropped in scheduling glitch

An American Airlines Boeing 787-9 Dreamliner approaches for a landing at the Miami International Airport on December 10, 2021 in Miami, Florida. Joe Raedle | Getty Images American Airlines pilots and its pilots’ union agreed to triple pay for aviators who were able to drop thousands of July flights because of a scheduling program glitch …

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There’s more pain coming for investors who own buy now, pay later plays, Jim Cramer says

CNBC’s Jim Cramer on Wednesday warned investors that if they own any buy now, pay later stocks, they should brace themselves for more damage to their portfolios. “These stocks never should’ve been worth so much in the first place. Their business models were much more attractive when interest rates were incredibly low, but it remains …

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