Bankman-Fried pleads not guilty in a Manhattan court
Sam Bankman-Fried, founder of FTX, pleads not guilty to fraud and related charges in federal court. Judge Lewis Kaplan penciled in Oct 2 as a tentative trial date with potential shifts. Prosecutors say a month is enough to present the case. defense anticipates two to three weeks of testimony. Bankman-Fried appeared calm, spoke little, and left without speaking to reporters.
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Fed cites strong hiring to justify continued rate rises
Federal Reserve officials said in mid December minutes that solid job growth could keep inflation elevated and justify raising rates more this year than previously forecast. They stressed that smaller hikes were not a sign of resolve wavering or inflation easing, noting risks inflation could stay higher than expected while remaining committed to keeping rates high.
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Amazon and Salesforce announce massive U.S. job cuts
Amazon will cut about 18,000 positions in its largest layoff in Seattle company history, mainly affecting brick and mortar stores and PXT HR functions. Salesforce plans about 8,000 cuts, or 10 percent of its workforce, the largest reduction in its 23 years.
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