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A daily roundup of the latest financial and market stories, chosen by Flipboard editors.

Curated byThe News Desk

Most recent stories in Business

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CNBC: Markets
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CNBC
2 hours ago
Mastercard: Expect a significant decline in inflation to about 4% by the end of next year
CNBC
Bricklin Dwyer, chief economist and head of the Mastercard Economics Institute, discusses where he expects inflation to be a year from now, and how …
The New York Times
2 hours ago
Jule Campbell, 96, Dies; Architect of the Sports Illustrated Swimsuit Issue
The New York Times - Penelope Green
Jule Campbell, the mastermind of the Sports Illustrated swimsuit issue, the annual paean to cheesecake — or healthy celebration of female beauty and athleticism, depending on your point of view — that broke publishing records and helped usher in the era of the supermodel, died on Nov. 19 in …
Associated Press
3 hours ago
Ex-Wirecard boss on trial in fraud case that shamed Germany
Associated Press - Ap
BERLIN (AP) — The former chief executive of financial services company Wirecard and two other ex-managers went on trial Thursday over the firm's collapse in what has been described as the biggest case of fraud in post-war Germany. Wirecard was long the darling of Germany's fintech scene until it …
CNN
4 hours ago
Biden’s pick for IRS commissioner would face backlog of tax returns while gearing up for next filing season
CNN - Tami Luhby
Even though the IRS has been chipping away at its major backlog of tax filings, millions of individuals and businesses are still waiting for their tax returns to be fully processed and their refunds to be sent. Dealing with this mountain of paperwork could fall to Daniel Werfel.
Associated Press
1 day ago
Holmes' former partner gets nearly 13 years in Theranos case
Associated Press - Michael Liedtke
SAN JOSE, Calif. (AP) — Former Theranos executive Ramesh “Sunny” Balwani was sentenced Wednesday to nearly 13 years in prison for his role in the company’s blood-testing hoax — a sentence slightly longer than that given to the CEO, who was his lover and accomplice in one of Silicon Valley’s biggest …
BBC News
10 hours ago
Wirecard trial of executives opens in German fraud scandal
BBC News - By Jenny Hill in Berlin & Paul Kirby in London
The former head of disgraced German payment company Wirecard has gone on trial accused of involvement in the biggest fraud case in German history. Markus Braun, 53, presided over its meteoric rise from modest beginnings to one of Germany's big banking beasts. Financiers and politicians were dazzled …
CNBC
11 hours ago
Manhattan renters face sticker shock with average rent at $5,200
CNBC - Robert Frank
Manhattan rents rose 2% in November, dashing hopes that prices would cool and forcing many renters to give up their leases or downsize, according to …
CBS News
20 hours ago
Fraud trial conviction could be "death knell" for Trump Organization
CBS News - By Aimee Picchi
The conviction of two Trump Organization companies for tax fraud and other crimes could prove insurmountable for former President Donald Trump's …
CNBC
14 hours ago
Hong Kong stocks rise around 3% after reports say city is considering Covid rule easing
CNBC - Abigail Ng,Jihye Lee
China's National Health Commission releases guidelines for treating Covid at home China's health authorities announced guidelines for treating Covid …
The Guardian
23 hours ago
BlackRock CEO faces call to step down amid claims of hypocrisy
The Guardian - Edward Helmore
Larry Fink, the chief executive of BlackRock, the world’s largest asset manager and one of the most vocal supporters of environmental, social and corporate governance (ESG) investment principles, is facing pressure from an activist hedge fund to step down amid claims of hypocrisy. London-based …
Reuters
1 hour ago
Oil rebounds from 2022 lows on China demand hopes, tanker delays
Reuters - By Alex Lawler
LONDON, Dec 8 (Reuters) - Oil rebounded on Thursday after four sessions of decline, boosted by hopes that easing anti-COVID measures in China will revive demand and by signs that some tankers carrying Russian oil have been delayed after a G7 price cap came into effect. China on Wednesday announced …
FOX Business
13 hours ago
North Carolina father and son sent to prison for embezzling $1.7 million COVID relief
FOX Business - Greg Wehner
A North Carolina man and his son were sentenced to prison this week for submitting fraudulent loan applications seeking $1.7 million in COVID-19 relief. Izzat Freitekh, 57, of Waxhaw, North Carolina and his son, Tarik Freitekh, 35, of Glendale, California, submitted applications for forgivable …
CNBC
16 hours ago
Wealthy Chinese keep on spending while others cut back, survey finds
CNBC - Evelyn Cheng
BEIJING — Wealthier Chinese were more inclined to spend this year, while poorer people cut back on spending even more, McKinsey and Company found in …
USA TODAY
16 hours ago
Ethics committee fines Madison Cawthorn for promoting crypto he had financial interest in
USA TODAY - Joel Burgess
ASHEVILLE, N.C. — Rep. Madison Cawthorn broke congressional ethics rules by improperly promoting a cryptocurrency in which he had a financial interest, according to a report made public on Dec. 6. The House Ethics Committee, following a seven-month investigation, found the Western North Carolina …
Bloomberg Green
1 hour ago
China, Saudi Sign Deals as Xi Gets Warm Welcome in Riyadh
Bloomberg Green - Salma El Wardany
China and Saudi Arabia signed a number of agreements, including on energy and investments, after their leaders met in Riyadh on Thursday at a summit …
CNBC
11 hours ago
Lithium is relatively abundant but it's extremely hard to extract and process, says American Lithium CEO
CNBC
Simon Clarke of American Lithium discusses its projects in Peru.
Associated Press
10 hours ago
South Korea widens back-to-work orders on striking truckers
Associated Press
SEOUL, South Korea (AP) — South Korea’s government expanded its back-to-work orders Thursday against thousands of cargo truck drivers who are staging a nationwide walkout over freight fare issues, saying a prolonged strike could inflict “deep scars” on the country’s economy. The “work start” orders …
Bloomberg Green
1 hour ago
Elon Musk’s Bankers Consider Tesla Margin Loans to Cut Risky Twitter Debt
Bloomberg Green - Davide Scigliuzzo, Sonali Basak, Paula Seligson
Elon Musk’s bankers are considering providing the billionaire with new margin loans backed by Tesla Inc. stock to replace some of the high-interest …
Axios
13 hours ago
Florida lawmaker behind "Don't Say Gay" bill accused of COVID aid fraud
Axios - Sareen Habeshian
The Florida lawmaker who sponsored the state's controversial "Don't Say Gall" bill has been indicted for COVID-19 relief fraud, per a Department of …
13 hours ago
Elon Musk turns Twitter into 'hotel' for staff
bbc.co.uk - By James Clayton & Ben Derico
The BBC has been given photos of Twitter office space that has been converted into bedrooms, which San Francisco authorities are probing as a possible building code violation. One image shows a room with a double bed, including a wardrobe and slippers. An ex-worker said new Twitter boss Elon Musk has …
Associated Press
13 hours ago
Panthers owner settles tax fight over failed practice space
Associated Press
COLUMBIA, S.C. (AP) — The South Carolina county where Carolina Panthers owner David Tepper started building and then abandoned a new practice facility has reached a settlement over $21 million in sales tax money given to the NFL team. Tepper will pay back the money, and York County agreed its …
Bloomberg
11 hours ago
US Senators Seek SBF’s Testimony at Dec. 14 Hearing on FTX
Bloomberg - Olga Kharif, Joanna Ossinger, Allyson Versprille
US Senators Sherrod Brown and Patrick Toomey have asked Sam Bankman-Fried to testify at a hearing about cryptocurrency exchange FTX’s collapse on …
CNN
13 hours ago
New York Times journalists stage historic 24-hour strike after management and union fail to reach deal
CNN - Oliver Darcy
New York CNN Business — A 24-hour strike at The New York Times, a historic demonstration in which more than 1,100 employees are expected to participate, began Thursday at midnight, after management and the union representing staffers failed to reach an agreement for a new contract after more than a …
Bloomberg
14 hours ago
This Is the Last Ever Boeing 747 to Be Built
Bloomberg - THE ASSOCIATED PRESS
Seattle -- After more than half a century, the last Boeing 747 rolled out of a Washington state factory on Tuesday. The 747 jumbo jet has taken on …
15 hours ago
Congressional Subpoena for SBF 'Definitely on the Table', Says Rep. Maxine Waters - Decrypt
decrypt.co - Jason Nelson
Even after adopting a more assertive posture on Twitter, it did not appear that House Financial Services Committee chair Maxine Waters intended to …
Associated Press
13 hours ago
Pentagon splits $9 billion cloud contract among 4 companies
Associated Press
WASHINGTON (AP) — Google, Oracle, Microsoft and Amazon will share in the Pentagon's $9 billion contract to build its cloud computing network, a year after accusations of politicization over the previously announced contract and a protracted legal battle resulted in the military starting over in its …
Bloomberg
9 hours ago
Son Quietly Ups SoftBank Stake to 34%, Edging Toward Buyout
Bloomberg - Min Jeong Lee, Takahiko Hyuga, Pei Yi Mak
Masayoshi Son has quietly tightened his grip on SoftBank Group Corp. during a tumultuous market downturn, edging closer to the point where he could …
The New York Times
2 hours ago
FTX Founder Sam Bankman-Fried Faces Market Manipulation Inquiry
The New York Times - Emily Flitter, David Yaffe-Bellany and Matthew Goldstein
Federal prosecutors are investigating whether FTX’s founder, Sam Bankman-Fried, manipulated the market for two cryptocurrencies this past spring, leading to their collapse and creating a domino effect that eventually caused the implosion of his own cryptocurrency exchange last month, according to …
Associated Press
15 hours ago
1st US floating offshore wind auction nets $757M in bids
Associated Press
PORTLAND, Ore. (AP) — The first-ever U.S. auction of leases to develop commercial-scale floating wind farms in the deep waters off the West Coast attracted $757 million in winning bids Wednesday from mostly European companies, in a project watched by other regions and countries just getting their …
The Guardian
14 hours ago
New York Times poised for first mass staff walkout in 40 years
The Guardian - Associated Press
The New York Times is bracing for a 24-hour walkout on Thursday by hundreds of journalists and other employees, in what would be the first strike of its kind at the newspaper in more than 40 years. Newsroom employees and other members of the NewsGuild of New York say they are fed up with bargaining …
CNBC
19 hours ago
Candy maker Ferrero to buy Halo Top owner, expanding North American business
CNBC - Amelia Lucas
Candy maker Ferrero is buying Wells Enterprises, the ice cream giant that owns Blue Bunny, Blue Ribbon Classics and Halo Top. The two privately held …

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