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TechCrunchMark Cuban, Mavericks in hot water over Voyager 'Ponzi scheme'
Billionaire Mark Cuban is the latest celebrity on the receiving end of investor ire. A group of Voyager Digital customers filed a class-action suit in Florida federal court against Cuban, as well as the basketball team he owns, the Dallas Mavericks, alleging their promotion of the crypto platform resulted in more than 3.5 million investors losing $5 billion collectively. Voyager Digital's CEO, Stephen Ehrlich, was also named as a defendant in the suit.
- Poets & Quants
5 Indian MBAs Who Left Corporate Jobs To Follow Their Hearts
From nimbu pani carts to taking Kerala’s banana chips to the rest of India, here are five MBA graduates who ditched the traditional corporate job route and followed their true love — food. ... The post 5 Indian MBAs Who Left Corporate Jobs To Follow Their Hearts appeared first on Poets&Quants.
- Business Insider
Oil prices have tumbled almost 30% in 2 months. Here's why, and what could happen next.
The three Rs explain why oil prices have fallen from their June highs: Recession worries, Russian resilience, and retreating demand.
- The New Voice of Ukraine
No path out of economic oblivion for Russia, Yale University scientists believe
There is no path out of economic oblivion for Russia as long as the allied countries remain unified in maintaining and increasing sanctions pressure against Russia, five Yale University scientists said in an August 2022 study.
- Footwear News
Walmart Is Opening a 400,000 Sq.-Ft. Consolidation Center to Move Product Faster
The announcement marks Walmart's latest investment in its supply chain.
- The Des Moines Register
Gov. Kim Reynolds allocates $12.5 million for permanent Field of Dreams stadium
The governor has now dedicated $18.5 million to a 'Field of Dreams' TV show and a Field of Dreams stadium. Backers say the stadium will boost tourism.
- CBS-Chicago
Mayor Lightfoot's 2023 budget forecast includes $42.7 million property tax hike
Facing the smallest budget shortfall of her tenure, a $127.9 million deficit for 2023, Mayor Lori Lightfoot is expecting a $42.7 million property tax hike as she prepares to run for a second term.
- Christian Science Monitor
Welcome to the office, Gen Z. You’re the only one here.
While Gen Z may have had the technical know-how to kick off careers remotely during the pandemic, it values connection and prioritizes work-life balance.
- Oilprice.com
Oil Inches Higher After EIA Reports Large Crude Inventory Build
Crude prices fell earlier today, but bounced back after the EIA reported a large build in crude stocks, but a large draw in gasoline inventories
- USA TODAY Opinion
‘Inflation reduction’ bill? Don’t buy Democrats’ fantastical twisting of reality.
Democrats' 'Inflation Reduction Act' would address climate change and prescription prices by spending even more money and growing government.
- In The Know by Yahoo
Staples employee brags about 'princess' treatment on TikTok: 'Healthy work environment'
One brave TikToker is daring to say what few would admit in this cultural climate: Working at Staples is actually pretty sweet.
- Reuters
Boeing makes first 787 Dreamliner delivery since May 2021
WASHINGTON (Reuters) -Boeing on Wednesday delivered its first 787 Dreamliner since May 2021, a milestone for the planemaker that has faced production problems with its widebody jet. American Airlines said it had taken delivery of its first Boeing 787 Dreamliner since April 2021, sending shares up 4.5%. American Airlines Chief Executive Robert Isom in an Instagram post reiterated the airline expects to receive nine 787s in 2022.
- Reuters
India could emerge as Asia's strongest economy in 2022-23, says Morgan Stanley
The brokerage expects India's growth to average 7% for 2022-2023 and contribute 28% and 22% to Asian and global growth, respectively. Morgan Stanley's projection comes as Asia's third-largest economy grew 9.2% in the fiscal year 2022, a sharp recovery from a 6.6% contraction in the previous year as COVID-19 lockdowns took a severe toll on its economy. "Lower corporate taxes, the production-linked incentive (PLI) scheme and India as a potential beneficiary of supply chain diversification will catalyse and sustain domestic demand, especially in investment," the economists said in a note dated Tuesday.
- National Review
IRS Deletes Job Posting Seeking Applicants Willing to ‘Use Deadly Force’
The IRS deleted a job posting Wednesday seeking a Special Agent "willing to use deadly force" for its law enforcement division, Criminal Investigation (CI). The deletion came amid renewed scrutiny of the IRS in response to a Democrat-backed spending bill that would double the size of the agency.
- Business Insider
India's getting around sanctions against Russia by using Asian currencies to buy Russian coal
Global trade is typically denominated in the US dollar, but sweeping sanctions have spurred countries still doing business with Russia to switch.
- GOBankingRates
Stimulus Updates To Know for Summer 2022
At the onset of the coronavirus pandemic, the American economy immediately fell into recession, with unemployment spiking to 14.8%, the highest since records began in 1948. In response, the U.S....
- Associated Press
At 75, India seeks way forward in big but job-scarce economy
As India’s economy grew, the hum of factories turned the sleepy, dusty village of Manesar into a booming industrial hub, cranking out everything from cars and sinks to smartphones and tablets. Scenes like this are an everyday reality for millions of Indians, the most visible signs of economic distress in a country where raging unemployment is worsening insecurity and inequality between the rich and poor. Entire families leave their homes in India’s vast rural hinterlands to camp at such bazaars, found in nearly every city.
- MoneyWise
Here are 3 proven ways to get rich during a recession — without having to risk a bunch of money to do it
Don’t suffer through the downturn. Take advantage of it, instead.
- Good Morning America
Inflation slows significantly as gas prices drop in July
Inflation data released on Wednesday revealed that price increases slowed in July, easing the strain on household budgets as the Federal Reserve fights inflation with a series of borrowing cost hikes. While still elevated, price hikes waned from the near-historic pace reached in June, giving hope to policymakers and consumers that inflation has peaked. The consumer price index, or CPI, rose 8.5% year-over-year in July, a marked slowdown from 9.1% in June, according to the Bureau of Labor Statistics.
- Fortune
‘The economy is deteriorating’: German finance minister paints dark picture of country’s increasingly fragile outlook
An energy crunch and rising inflation are set to make life more difficult for residents of Europe’s largest economy.