Business

Appeals court upholds FTX co-founder Sam Bankman-Fried’s fraud conviction

Friday, June 12 by SRN News

NEW YORK (AP) - A federal appeals court has upheld the conviction of cryptocurrency entrepreneur and FTX co-founder Sam Bankman-Fried, finding that the 2023 trial that led to his 25-year prison sentence was not unfair. The 2nd U.S. Circuit Court of Appeals in Manhattan said... Read More.

Space stocks slump as blistering rally cools after SpaceX market debut

Friday, June 12 by SRN News

June 12 (Reuters) - U.S. space stocks tumbled on Friday as investors rushed to lock in gains on the day of SpaceX's market debut, snapping a months-long rally fueled by anticipation over the blockbuster IPO. The Elon Musk-led company jumped 28%, clinching a valuation of... Read More.

Brazil launches subsidized motorcycle credit program for app-based delivery drivers

Friday, June 12 by SRN News

BRASILIA, June 12 (Reuters) - Brazil's government on Friday launched a subsidized credit program for app-based delivery drivers to purchase motorcycles, in a fresh move to boost demand and support a part of the workforce that has expanded rapidly in recent years. The program will... Read More.

Pakistan’s finance minister presents the country’s next budget that hikes defense spending

Friday, June 12 by SRN News

ISLAMABAD (AP) - Pakistan 's finance minister on Friday presented the government's new budget to lawmakers, a draft that hikes defense spending by 18% while trimming funding for development programs and offering modest tax reliefs for salaried workers. The proposal underscores the struggles of... Read More.

Officials say sprinklers at California medical equipment warehouse didn’t work during blaze

Friday, June 12 by SRN News

TRACY, Calif. (AP) - Firefighters responding to a blaze that destroyed a massive medical equipment warehouse in Northern California and sent embers flying for miles were hindered by sprinklers and hydrants that weren't working, authorities said Friday. The 1 million-square-foot (93,000-square-meter) warehouse in Tracy,... Read More.

Tired of chaos, investors retreat from oil market at record pace

Friday, June 12 by SRN News

By Amanda Cooper and Dmitry Zhdannikov LONDON, June 12 (Reuters) - The extreme volatility of global oil prices has drained liquidity from the market this year at the fastest pace on record, as investors have become increasingly wary of committing cash to an asset that... Read More.

Lost Gulf oil exports far smaller than thought, traders and shippers say

Friday, June 12 by SRN News

By Alex Lawler and Dmitry Zhdannikov LONDON, June 12 (Reuters) - Since the start of the Iran war and Tehran's announcement that the Strait of Hormuz was "closed", the market has grappled to put a figure on lost crude supply and to predict the price... Read More.

The road to SpaceX’s juggernaut IPO

Friday, June 12 by SRN News

June 12 (Reuters) - SpaceX made its stock market debut on Friday,as investors backed CEO Elon Musk's vision for an empire stretching from reusable rockets to orbital AI at a valuation that ranks among the world's biggest. Here is a timeline of SpaceX's journey to... Read More.

Instant View: SpaceX opens trading at $150 after record-busting IPO

Friday, June 12 by SRN News

NEW YORK, June 12 (Reuters) - SpaceX traded higher in its Nasdaq debut on Friday, a day after pricing its record $75 billion IPO. Thursday's pricing gave Elon Musk's space, communications and AI firm a $1.77 trillion valuation, the largest ever in an initial... Read More.

Current Weather

Appeals court upholds FTX co-founder Sam Bankman-Fried’s fraud conviction

Space stocks slump as blistering rally cools after SpaceX market debut

Brazil launches subsidized motorcycle credit program for app-based delivery drivers

Pakistan’s finance minister presents the country’s next budget that hikes defense spending

Officials say sprinklers at California medical equipment warehouse didn’t work during blaze

Tired of chaos, investors retreat from oil market at record pace

Lost Gulf oil exports far smaller than thought, traders and shippers say

The road to SpaceX’s juggernaut IPO

Instant View: SpaceX opens trading at $150 after record-busting IPO

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