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Strategy vows to relentlessly accumulate BTC, promising 10–20 per sale
15 days ago•Source: The Block
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23.35 min•3 months ago
Strategy CEO: Bitcoin would need to crash to 8,000 and stay years before balance-sheet risk
Strategy CEO Phong Le said the balance sheet is safe unless Bitcoin falls to about $8,000 and remains there for five to six years; the company posted a $12.6 billion quarterly net loss from unrealized BTC losses as Bitcoin traded around $64,800, while Michael Saylor dismissed quantum-threat concerns as 'horrible FUD' and announced a Bitcoin Security program to bolster resilience amid the crypto sell-off.
2.575 min•2 years ago
GSK Shares Plunge 9% as Delaware Court Allows 70,000 Zantac Lawsuits
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DOJ Sues to Break Up Live Nation-Ticketmaster Monopoly
The U.S. Justice Department and over two dozen states have filed a lawsuit to break up Live Nation and its Ticketmaster unit, accusing them of monopolistic practices that inflate concert ticket prices and harm artists and smaller promoters. The lawsuit seeks to divest Ticketmaster and address anticompetitive harm, reflecting the Biden administration's aggressive antitrust stance. Live Nation disputes the claims, arguing the lawsuit won't resolve ticketing issues.
"Warren Buffett Reflects on Berkshire's Performance and Charlie Munger's Legacy"
Warren Buffett reassures investors about Berkshire Hathaway's long-term prospects while mourning the passing of Charlie Munger, emphasizing the company's resilience and caution in the face of market excess. Buffett downplays expectations for "eye-popping" performance due to Berkshire's immense size and limited opportunities for significant growth. The annual letter also highlights the record financial results for 2023 and the readiness of Greg Abel as Buffett's successor. Munger's significant influence on Berkshire's success is acknowledged, and the letter underscores the company's ability to withstand economic challenges and stick to its core businesses.
Walmart sued for firing employee with Crohn's disease.
The U.S. Equal Employment Opportunity Commission (EEOC) has sued Walmart for illegally firing a North Carolina deli worker with Crohn's disease. The EEOC accused Walmart of violating the Americans with Disabilities Act by dismissing Adrian Tucker in April 2017 because her nine "unauthorized" absences in the prior six months, including a hospitalization and a visit to the emergency room, violated its "attendance and punctuality policy." The lawsuit seeks back pay and punitive damages for Tucker, and an end to similar future discrimination. Walmart said it was reviewing the complaint.
Rivian moves staff to Illinois plant for faster EV production.
Rivian is relocating parts of its manufacturing engineering team to Illinois to accelerate production of its R1T electric pickup trucks and R1S SUVs. The reorganization would mean those working on manufacturing engineering would be asked to relocate to central Illinois or its headquarters in Irvine, California. Rivian has been losing money on every vehicle it builds and narrowly missed its annual production target of 25,000 units last year.
Amgen announces second round of layoffs, cutting 450 jobs.
Amgen is set to cut 450 jobs, less than 2% of its workforce, in its second round of layoffs this year due to intensifying pressure on drug prices and high inflation. The healthcare industry is feeling the impact of rapidly increasing interest rates. The company had about 25,200 staff members in more than 50 countries as of Dec. 31, 2022.