FTX Tapped Into Customer Accounts to Fund Risky Bets
Crypto exchange FTX lent billions of dollars worth of customer assets to fund bets by its affiliated trading firm, Alameda Research, setting the stage for the exchange's implosion, a person familiar with the matter said.
Kirkland Wins Court Approval to Advise 3M Earplug Unit Bankruptcy
A bankruptcy judge said 3M and its Aearo unit's interests are aligned and Kirkland's representation in both doesn't cause a conflict.
Amazon Launches Cost-Cuts Review
CEO Andy Jassy is leading the review including the devices unit, which includes Alexa and has had an annual operating loss of $5 billion in some recent years, documents show.
Yoga-Streaming Company Gaia to Settle SEC Probe
Gaia, a streaming video business focusing on yoga and alternative health, said the company and its chief financial officer have agreed to pay $2.05 million to resolve an SEC investigation.
Brookfield Seeks to Expand Role as Capital Provider to Large Companies
The firm has collected $33 billion in investment capital since June as it looks for more deals like its Intel financing agreement.
Gap Starts Selling Its Apparel on Amazon
The fashion brand strikes a distribution deal with the e-commerce giant.
Elon Musk Ends Remote Work at Twitter, Attracts FTC Focus
In response to a fresh wave of executive departures, the FTC said it was tracking recent developments at the social-media company.
Foxconn Says Aims to Swiftly Recover iPhone Production Levels at Covid-Hit Site
Foxconn is still operating its main iPhone plant in Zhengzhou under a closed-loop system.
Target Rolls Out New Store Format Tailored for Online Shopping
The new stores will have a larger backroom fulfillment space to help the retail chain process online and curbside orders.
Juul Secures Financing to Avoid Bankruptcy, Plans to Cut 30% of Jobs
The vaping company says it will lay off about 400 people after getting a bailout from board members.
(END) Dow Jones Newswires
11-10-22 1915ET
