According to Reuters, citing an FTX lawyer, former CEO of cryptocurrency exchange FTX Sam Bankman-Fried and a number of the company workers spent $300 million on property in the Bahamas. The $300 million was mostly used to purchase residences and vacation properties, as FTX's attorney pointed out. According to official property documents previously obtained by the agency, Bankman-Fried, his...

Air India is negotiating purchases of new aircraft with Airbus and Boeing. The Tata Group-owned airline Air India is discussing new aircraft orders with Boeing and Airbus while also utilizing leasing and renovation to meet its immediate needs, said the airline’s CEO. Campbell Wilson, the airline's CEO, stated at a Tata corporate event in Mumbai that "we are in extensive conversations with...

The consulting and analytical division of the rating firm Moody's in China is being shut down. This is reported by Reuters using sources. More than 100 office workers in Beijing, Shanghai, and Shenzhen will be let go by the corporation. Sources claim that the division in charge of credit ratings will continue to operate in China at the same time. According to Reuters, Moody's cited "the...

According to a press release from the firm, the net profit of the largest Chinese Internet company, Alibaba Group Holding, for the first half of fiscal year 2022–2023 (ending September 30) decreased by more than 20 times in annual terms to $ 306 million. Comparatively, diluted earnings per share decreased from 2.3 yuan ($0.36) to 0.1 yuan ($0.01) last year. In the meantime, total income for the...

Walmart, a retail chain and the biggest retailer in the world, reported third-quarter total revenues of $152.8 billion, an 8.7% increase over the same period last year. Comparable sales at Walmart's U.S. locations alone increased by 8.2%, above analysts' expectations of growth of only 3.5%. Walmart's overseas sales reached $25.3 billion, a 7.1% increase from the prior year. The third quarter...

Tencent Holdings announced on Wednesday that it would pay a dividend on its $20.3 billion investment in the food delivery company Meituan. In response to the slowing Chinese economy and regulatory changes, Tencent also revealed its second straight quarter of declining sales. 958.12 million Meituan shares, or around 90.9% of the Class B common shares it owns in Meituan, would be transferred,...

Berkshire Hathaway company of billionaire Warren Buffett purchased a share in TSMC, the largest chipmaker in the world, for an estimated $5 billion. According to papers filed by the investment firm with the U.S. Securities and Exchange Commission (SEC), Berkshire Hathaway, which is owned by billionaire Warren Buffett, purchased 60 million American depositary receipts of chipmaker Taiwan...

According to a statement released by the U.S. military on Monday, the U.S. Army has signed various contracts totaling roughly $520 million with the military-industrial complex Lockheed Martin to replace the multiple-launch rocket systems that were given to Ukraine. The contracts, according to the declaration, were signed on October 21 and November 2. U.S. Under Secretary of Defense for...

The Bahamas Securities Commission has placed a freeze on the property of FTX Digital Markets, the company that runs the FTX bitcoin exchange. The decision was made in order to stabilize the exchange during a liquidity crisis and preserve assets. "The Commission is aware of statements made in the media alleging improper use, management, or transfer of customer assets to Alameda Research. Any such...