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Jury finds Elon Musk did not defraud Tesla investors with infamous 'funding secured' claim

Musk was facing a lawsuit from Tesla shareholders saying his tweets may have cost them billions of dollars as part of his desire to take Tesla private.
Elon Musk leaves a federal courthouse in San Francisco, Friday, Feb. 3, 2023. A high-profile trial focused on a 2018 tweet about the financing for a Tesla buyout that never happened drew a surprise spectator for Friday's final arguments — Elon Musk, the billionaire who is being accused of misleading investors with his usage of the Twitter service he now owns.
Elon Musk leaves a federal courthouse in San Francisco, Friday, Feb. 3, 2023. A high-profile trial focused on a 2018 tweet about the financing for a Tesla buyout that never happened drew a surprise spectator for Friday's final arguments — Elon Musk, the billionaire who is being accused of misleading investors with his usage of the Twitter service he now owns.
2d ago

Despite layoff headlines, there's still plenty of hiring going on in the U.S. economy

The U.S. added 517,000 jobs in January and now has the lowest unemployment rate since 1969.
A "Now Hiring" sign is displayed in front of a Chipotle restaurant  in Washington
A "Now Hiring" sign is displayed in front of a Chipotle restaurant  in Washington
2d ago

Activision Blizzard pays SEC $35 million to settle probe

CEO Bobby Kotick and other senior executives reportedly knew about significant harassment issues within Activision, including instances of alleged sexual misconduct.
The Activision Blizzard Booth during the Electronic Entertainment Expo in Los Angeles in 2013.
The Activision Blizzard Booth during the Electronic Entertainment Expo in Los Angeles in 2013.

U.S. added 517,000 jobs in January as employers drove unexpected hiring surge

Monthly job gains far outpaced the 187,000 forecast as the unemployment rate fell to a historic low of 3.4%, showing the labor market remains strong despite the Fed’s continued interest rate increases.
Construction workers in Brooklyn, N.Y., on Jan. 24, 2023.
Construction workers in Brooklyn, N.Y., on Jan. 24, 2023.

Class-action lawsuits alleging deceptive practices by Beyond Meat will be combined in Chicago

Beyond Meat announced last fall it would lay off 200 workers. That was on top of a 4% reduction in its workforce it announced in August.
Beyond Meat products on a grocery store shelf in Miami
Beyond Meat products on a grocery store shelf in Miami
3d ago

A U.S. short seller's fraud accusations dethroned Asia's richest man. Here's what to know.

Gautam Adani's company has dismissed the allegations and accused Hindenburg Research of a “calculated attack” on India. But the claims have sent shockwaves through the markets.
Adani, the Indian billionaire whose business empire was rocked by allegations of fraud by short seller Hindenburg Research, said his company will make more investments in Israel.
Adani, the Indian billionaire whose business empire was rocked by allegations of fraud by short seller Hindenburg Research, said his company will make more investments in Israel.
3d ago

Indian billionaire Gautam Adani calls off $2.5 billion share sale

Gautam Adani called off his flagship company's $2.5 billion share sale after his conglomerate shed tens of billions of dollars in market value following claims of fraud by short-seller, Hindenburg Research.
Indian billionaire Gautam Adani calls off $2.5 billion share sale
Indian billionaire Gautam Adani calls off $2.5 billion share sale
4d ago

Fed's interest rate hike means pricey mortgages aren't going away anytime soon

Early signs show buyers starting to get back into the housing market and gain more leverage as prices fall, but experts warn borrowing costs are unlikely to ease soon.
A sign announcing a pending sale in front of a house on Jan. 23, 2023, in Brooklyn Park, Minn.
A sign announcing a pending sale in front of a house on Jan. 23, 2023, in Brooklyn Park, Minn.
4d ago

Federal Reserve raises key interest rate 0.25%, signals more hikes likely

While there are some signs inflation is decelerating, officials warn that the Fed isn't likely to back off its rate hikes anytime soon.
Jerome Powell, chairman of the U.S. Federal Reserve, speaks during a news conference in Washington, DC on Nov. 2, 2022.
Jerome Powell, chairman of the U.S. Federal Reserve, speaks during a news conference in Washington, DC on Nov. 2, 2022.

Supply of weight loss drug Wegovy expected to improve in next few months, company says

Drugmaker Novo Nordisk says it is ramping up production of the popular drug following widespread shortages last year.
Wegovy
Wegovy

Bed Bath & Beyond closing 87 more stores as it looks toward bankruptcy

The latest closures affect the struggling home goods retailer's stores nationwide.
A Bed Bath & Beyond store in New York City on Oct. 1, 2021.
A Bed Bath & Beyond store in New York City on Oct. 1, 2021.