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BUSINESS

FTX will sell or restructure global empire, CEO says

FTX’s new CEO said on Saturday that the bankrupt crypto exchange is looking to sell or restructure its global empire, even as Bahamian regulators and FTX squabble in court filings and press releases about whether the bankruptcy filing should proceed in New York or in Delaware. “Based on our review over the past week, we […]

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BUSINESS

A big new Exxon Mobil climate deal that got assist from Joe Biden

Could it be that Big Oil’s next big thing got a big assist from Joe Biden? Maybe, if carbon capture and storage is indeed as big a deal as ExxonMobil’s first-of-its-kind deal to extract, transport and store carbon from other companies’ factories implies. The deal, announced last month, calls for ExxonMobil to capture carbon emitted […]

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With the UK economy in freefall, Rishi Sunak clings to a fracturing Tory coalition – POLITICO

LONDON — It had been billed as Austerity 2.0. But the £55 billion package of tax rises and spending cuts unveiled by U.K. Prime Minister Rishi Sunak and Chancellor Jeremy Hunt on Thursday tried to delay the pain where possible, for as long as they could. In a sense the pair had little choice — […]

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Power supplies across Perth to move underground

Power supplies across Perth will start moving underground. Poles and wires will be taken off the streets under the State Government’s four-year Targeted Underground Power Program. Homes and businesses in the towns of Victoria Park and Bassendean and cities of Vincent, Stirling, Bayswater, Canning, Fremantle, Melville and Swan will be its initial focus. Your local […]

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Anthony Albanese refuses to rule out tax on massive coal and gas profits in a bid to ease energy price pressure on Australians

Prime Minister Anthony Albanese has refused to rule out a tax on coal and gas in attempt to lower energy prices amid a possible market intervention. The government is under pressure to rapidly drive down gas and power bills by Christmas, with The Australian reporting Cabinet will consider a temporary tax on coal and gas […]

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BUSINESS

Sam Bankman-Fried steps down, FTX files for bankruptcy

Sam Bankman-Fried, founder and chief executive officer of FTX Cryptocurrency Derivatives Exchange, during an interview on an episode of Bloomberg Wealth with David Rubenstein in New York, US, on Wednesday, Aug 17, 2022. Jeenah Moon | Bloomberg | Getty Images Sam Bankman-Fried’s cryptocurrency exchange FTX has filed for Chapter 11 bankruptcy in the U.S., according […]

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Biden to Announce Restrictions on Methane Emissions at COP27

SHARM EL SHEIKH, Egypt—President Biden is moving to tighten restrictions on emissions of methane, a potent greenhouse gas, and boost funding for developing countries to adapt to the effects of climate change and transition to cleaner technologies, according to the White House.  Mr. Biden is expected to announce the measures in a speech before a […]

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BUSINESS

Investors lost more than $2 trillion since

An attendee wears a “Will Work for NFTs” shirt during the CoinDesk 2022 Consensus Festival in Austin, Texas, US, on Thursday, June 9, 2022. The festival showcases all sides of the blockchain, crypto, NFT, and Web 3 ecosystems, and their wide-reaching effect on commerce, culture, and communities. Jordan Vonderhaar | Bloomberg | Getty Images A […]

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At Somos, New Yorkers weigh in on the Puerto Rican utility crisis

Socialist New York City Council Members Tiffany Cabán and Alexa Avilés sat behind a folding table at a bilingual press conference outside the Luma Energy’s office in Santurce, an urban neighborhood in San Juan, Puerto Rico. They were four miles and half a world away from the air conditioned hotel rooms hosting the Somos Puerto […]

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BUSINESS

Oil prices dip on China demand worries

LONDON, Nov 8 (Reuters) – Oil prices slipped on Tuesday as recession concerns and worsening COVID-19 outbreaks in top crude importer China heightened fears of lower fuel demand. Brent crude fell 84 cents, or 0.9%, to $97.08 a barrel by 1006 GMT while U.S. West Texas Intermediate (WTI) crude fell 96 cents, or 1%, to […]

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