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Showing posts with the label company

Binance's rescue of FTX shows no crypto company is 'too big to fail,' experts say

In this article BTC.CM= Follow your favorite stocks CREATE FREE ACCOUNT Binance CEO Changpeng Zhao speaking at a press conference during Web Summit 2022. Ben Mcshane | Sportsfile | Getty Images Binance's agreement to salvage rival cryptocurrency exchange FTX from collapse shows how no one is safe from the chill of crypto winter, according to industry experts. Prior to this week, FTX was the fourth-biggest exchange, processing billions of dollars in daily trading volumes, according to CoinMarketCap data. Its CEO Sam Bankman-Fried had a high profile in Washington, D.C., appearing in Congress to testify about the future of the crypto industry and committing millions in political donations. Despite this, not even FTX was immune from the downturn in digital assets. It's something even Bankman-Fried had recognized, telling CNBC previously: "I don't think we're immune from it." And, sure enough, on Tuesday his firm signed an offer from Binance to be acquired by th...

Shares of China-based funeral company are surging as Covid infections spike

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Workers in protective gear handle a coffin and coffin case at Dongjiao Funeral Parlor, reportedly designated to handle Covid fatalities, in Beijing, China, on Monday, Dec. 19, 2022. Bloomberg | Bloomberg | Getty Images Hong Kong-listed shares of China's biggest cemeteries operator and funeral service rose to their highest level in more than a year as the country struggles with a wave of Covid infection s. Fu Shou Yuan International Group stock reached a 2022 high at 7.04 Hong Kong dollars a share as of Friday's close — having surged about 80% in two months – as the country abruptly ended most of its Covid control measures and saw case numbers surge. Loading chart... Despite widespread reports of a spike in Covid deaths that's straining hospitals and funeral homes, China's official Covid death toll remains low. Health authorities there re-defined Covid deaths to include only people who die from pneumonia or respiratory failure — a contrast with most other countries...

Amazon workers press company on climate change after Pakistan floods 

More than 800 Amazon employees are calling on the company to step up its response to climate change through foreign aid — a sign internal activism is still alive at tech companies despite layoffs and a slowing economy.  The employees say the aid is a way for Amazon to take greater responsibility for its role in producing the greenhouse emissions that cause climate change. In a petition posted on an internal system, the worker s are asking Amazon to contribute toward “reparations” for Pakistan —which suffered devastating floods last summer and fall— by matching employee donations to relief efforts, according to screenshots given to NBC News. They also want the company to match employee donations in future climate related disasters. “Amazon’s success and scale comes with a broad responsibility,” the petition reads. “As Amazonians, we are proud to uphold our leadership principles, and in that spirit, we owe it to our workforce, our customers, and the planet we live on to mitigate the h...

Shares of China-based funeral company are surging as Covid infections spike

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Workers in protective gear handle a coffin and coffin case at Dongjiao Funeral Parlor, reportedly designated to handle Covid fatalities, in Beijing, China, on Monday, Dec. 19, 2022. Bloomberg | Bloomberg | Getty Images Hong Kong-listed shares of China's biggest cemeteries operator and funeral service rose to their highest level in more than a year as the country struggles with a wave of Covid infection s. Fu Shou Yuan International Group stock reached a 2022 high at 7.04 Hong Kong dollars a share as of Friday's close — having surged about 80% in two months – as the country abruptly ended most of its Covid control measures and saw case numbers surge. Loading chart... Despite widespread reports of a spike in Covid deaths that's straining hospitals and funeral homes, China's official Covid death toll remains low. Health authorities there re-defined Covid deaths to include only people who die from pneumonia or respiratory failure — a contrast with most other countries...

'Natural' baby product company recalls toddler cups over lead poisoning hazard

A self-described "natural" baby product company is recalling 10,500 of its stainless steel bottles and cups for toddlers that pose a risk of lead poisoning, the U.S. Consumer Product Safety Commission announced Wednesday. Three of Green Sprouts' products are subject to the recall: its 6 ounce stainless steel sippy cup, its 8 ounce stainless steel straw bottle, which have the tracking numbers 29218V06985 or 35719V06985, and its 6 ounce stainless steel sip and straw cup, which has the tracking number 33020V06985, according to the recall notice. The tracking numbers are printed on the bottom of the bottles, which were sold in aqua, pink, green and navy colors, according to the notice. The bottom bases of the product s can break off and expose kids to a solder dot — a type of metal used to join metallic surfaces — that contains lead, it says. "Lead is toxic if ingested by young children, and can cause adverse health effects," the recall notice said. So far, there h...