Cryptocurrency exchanges are setting up systems to verify certain assets and liabilities intended to reassure investors and customers in the wake of FTX’s collapse last month, but these measures give limited insight into the companies’ finances. Several crypto exchanges, including Binance Holdings Ltd. and Crypto.com, in recent months have hired outside auditors to provide a…
Meta Platforms’ Oversight Board recommended on Tuesday that the company revamp its system exempting high-profile users from its rules, saying the practice privileged the powerful and allowed business interests to influence content decisions. The arrangement, called cross-check, adds a layer of enforcement review for millions of Facebook and Instagram accounts belonging to celebrities, politicians and…
The global airline industry will become profitable again next year for the first time since 2019 as a resurgence of air travel continues following nearly two years of COVID-19 restrictions, an industry association said on Tuesday. Airlines lost tens of billions of dollars in 2020 and 2021 due to the pandemic, but air travel has…
A parcel of economic data awaits Wall Street this week as investors inch closer to the Federal Reserve’s final rate-setting meeting this year. New readings on the producer price index (PPI) – which measures inflation at the wholesale level – durable goods orders, and consumer sentiment lead the economic calendar in importance. Meanwhile, a few…
Every December, the well-heeled and art world cognoscenti flock to South Florida for this week’s Art Basel Miami (though many would like to forget about last year’s NFT-driven mania). High-end automakers are on display as well, including Rolls-Royce, Porsche, and Lamborghini. For Lamborghini, it was a chance to show off its latest creation — the…
The virtual reality (VR) market has been heating up, with dozens of major players and startups rolling out their versions of the original Oculus. The clear winner is currently Meta Platforms Inc. (NASDAQ: META) with a reported 90% market share in the VR industry. This is in line with the company’s massive spending in the…
VinFast is shipping 999 of its electric vehicles to California as the Vietnamese company looks for a place in the U.S. market. The Vietnam-based electric vehicle maker is taking the slow boat to California as it sends its first batch of 999 VF 8s, the company’s 5-seater electric SUV, to America aboard the Silver Queen,…