Michael Jordan selling majority ownership stake in Charlotte Hornets
Michael Jordan is finalizing a deal to sell the majority share of the Charlotte Hornets, a move that will end his 13-year run overseeing the organization, the team announced Friday
2023-06-16 22:59
S&P 500 to see small gain in 2024 as US economic risks rise: Reuters poll
By Caroline Valetkevitch NEW YORK The S&P 500 will end next year only about 3% higher than its
2023-11-21 21:19
Danone Asserts That It Still Owns Business Seized in Russia
Danone SA said that the French company remains the legal owner of its Russian dairy operations even after
2023-07-26 15:28
Elizabeth Holmes prison: Everything we know about disgraced Theranos founder going to jail
Disgraced Theranos founder Elizabeth Holmes is about to begin her 11-year prison sentence after being found guilty of defrauding investors, including media mogul Rupert Murdoch, over fake claims about the company’s blood-testing capabilities. As well as being handed jail time over her role in misleading investors, Holmes was also ordered to pay $452m in restitution. Follow the latest updates live “This is a fraud case where an exciting venture went forward with great expectations and hope, only to be dashed by untruth, misrepresentations, hubris, and plain lies,” Judge Davila, presiding over the case, said before handing down the prison sentence to Holmes. “I suppose we step back and we look at this, and we think, what is the pathology of fraud? Is it the inability or the refusal to accept responsibility or express contrition in any way? Now, perhaps that is the cautionary tale that will go forward from this case.” Ahead of being sentenced, Holmes, who has long maintained she did not intend to defraud anyone, told the court: “I am devastated by my failings. “Every day for the past years I have felt deep pain for what people went through because I failed them. I regret my failings with every cell of my body.” Where will Holmes serve her sentence Holmes, who requested 18 months of house arrest as a punishment, will begin her sentence at Federal Prison Camp Bryan in Texas – an all-female facility 100 miles from Holmes’ hometown. The minimum security prison houses around 500 inmates, and runs a variety of programmes intended to prepare prisoners for life after incarceration, according to Camp Bryan’s handbook. Holmes’ day will begin at 6am, when inmates are woken up for meals and work; people failing to comply with the strict wakeup rules are subject to punishments. Inmates are then counted at five different times during the day, when they must assemble in specific areas (once again, punishments are doled out to those who are not present at these times). The prison features a study, game room, and work programmes that see all inmates take part in a six-week course on the importance of efficiency in the workplace before they are placed into a role – with some prisoners earning as little as $0.12 in some assignments. According to the handbook, “All designated inmates are required to develop a financial plan to meet their financial obligations”, which for Holmes will mean reparations of $452m. How will Holmes keep in touch with her family? Holmes is married to Billy Evans, and the pair have two children, William, 2, and newborn Invicta. She lives around 100 miles from her family, who will be permitted to visit at weekends. Inmates at Camp Bryan are also permitted to take part in video sessions with their friends and family, according to the handbook, as well as to send and receive text messages. Prior to beginning her sentence at Camp Bryan, Holmes spent the weekend with her husband and children at the beach.
2023-05-30 22:28
China Bans Writers From Weibo for Comments on Stocks, Jobless Rate
China banned Wu Xiaobo, a well-known finance writer, as well as two of his peers from writing on
2023-06-27 01:49
Kenya's president to get pay hike as economy suffers
Kenya's president, his deputy and other state officials are set to receive pay rises despite citizens facing deep economic hardship and higher taxes, according to a...
2023-06-30 23:17
Billionaire Ryan Cohen takes over as CEO at GameStop
Billionaire Ryan Cohen, the largest individual investor in GameStop, is taking over as CEO at the video game retailer
2023-09-28 20:19
AMC Theaters scraps plans to charge more for good seats
AMC Theaters said Thursday it is ending its "Sightline" tiered seat-pricing pilot, which it began earlier this year, in which moviegoers who sat up by the front of the theater directly next to the screen paid less for a ticket compared to those who chose more desirable seats in the middle of the theater.
2023-07-21 03:55
HSBC Announces Fresh Buyback as Higher Rates Propel Profits
HSBC Holdings Plc announced a new buyback program as higher interest rates stoke the bank’s profits. The London-based
2023-08-01 12:27
Chile’s Prices Unexpectedly Fall, Paving Way for Rate Cut
Chile’s consumer-price index unexpectedly fell in June, fueling bets that the central bank will start lowering its benchmark
2023-07-07 22:22
SEC extends agreement to keep football championship in Atlanta at least through 2031
The Southeastern Conference championship game will remain at Mercedes-Benz Stadium through at least 2031
2023-12-01 04:53
Toyota Had a Great Week. The Company’s Chairman Did Not
The biggest rally in three years for Toyota Motor Corp. shows how a well-timed campaign to promote the
2023-06-16 09:25
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