Reddit Shares Continue to Fall down as Short Sellers Eye Stock
Industry Leaders Magazine
by Mia Garcia
2h ago
Reddit shares are down after experiencing a rally stemming from the social media company’s IPO last week. Reddit shares saw a two-day tumble in a row as short sellers reportedly target the stock. Reddit’s strong debut, which saw its shares jump significantly, is said to have drawn substantial bearish bets against the social media company in the first few days of trading. Reddit shares hit a high of $74.90 on Tuesday this week. (Image Credit: reddit)Reddit shares down Reddit shares closed down at $49.32, ending the week below their closing price on Reddit’s first day of trading on the ..read more
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Sam Bankman-Fried Found Guilty Sentenced for 25 Year in FTX Fraud
Industry Leaders Magazine
by Mia Garcia
2h ago
Crypto entrepreneur Sam Bankman-Fried was sentenced to 25 years for defrauding FTX investors. Co-founder of FTX Sam Bankman-Fried was sentenced for a massive fraud that unraveled with the collapse of FTX, once one of the world’s most popular platforms for exchanging digital currency. FTX founder will serve his term in prison after being convicted of defrauding his customers, investors, and lenders. ( Image Credit – Shutterstock) Sam Bankman-Fried who presided over the largest crypto collapse in history was sentenced on Thursday in a Manhattan federal court. This s ..read more
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Amazon Invests $2.75 Billion in AI Startup Anthropic, Its Largest
Industry Leaders Magazine
by Mia Garcia
1d ago
Amazon is making its largest outside investment in its three-decade history as it looks to gain an edge in the AI race. Amazon said it will spend another $2.75 billion on Anthropic, a San Francisco-based startup that is widely viewed as a front-runner in generative AI. Its foundation model and chatbot Claude competes with OpenAI and ChatGPT. (Image Credit: amazon) Amazon said it has made an investment of $2.75 billion more in the AI startup Anthropic. This Amazon Anthropic venture investment is as the tech giant is looking to compete with Microsoft, Google and others in the AI a ..read more
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Hyundai May Add Hybrid Production to $7.6 Billion Georgia Plant
Industry Leaders Magazine
by Mia Garcia
1d ago
Hyundai Motor Group leaders are re-evaluating whether its forthcoming $7.6 billion factory in Coastal Georgia should only have production of electric vehicles or if its manufacturing lines should incorporate hybrid cars. José Muñoz, Hyundai president and global chief operating officer, said the company is evaluating whether or not to produce hybrid or plug-in hybrid electric vehicles at the $7.59 billion plant in addition to all-electric vehicles.  (Image Credit: hyundai)Hyundai Georgia hybrid production As per José Muñoz, Hyundai Motor Group’s North American chief executive, the Kor ..read more
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Krispy Kreme’s Sweet Deal with McDonald, Stock Surge by 39%
Industry Leaders Magazine
by Mia Garcia
2d ago
As per Krispy Kreme, its donuts would be available across McDonald’s U.S. restaurants by the end of 2026 as the companies expand a pilot project. Krispy Kreme shares soared 39% on Tuesday. Krispy Kreme shares earlier were on track for its best day ever. Krispy Kreme and McDonald were testing the program in 160 McDonald’s restaurants in the Lexington and Louisville, Kentucky areas as part of the partnership that began in October 2022. (Image Credit: krispykreme) Exclusive fast-food partner As per the Krispy Kreme and McDonald deal the rollout will start in the second half of ..read more
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Visa and Mastercard’s $30B Settlement to Lower Merchants Fees
Industry Leaders Magazine
by Mia Garcia
2d ago
Visa and Mastercard reached an estimated $30 billion settlement to limit credit and debit card fees for merchants, with some savings likely to be passed on to consumers through lower prices. Two of the world’s largest credit card networks, Visa and Mastercard, as well as the banks that issue cards with them, have agreed to settle a decadeslong class action brought upon by merchants. Visa and Mastercard antitrust settlement is one of the largest in U.S. history, and upon court approval would resolve claims in litigation that began in 2005. Visa and Mastercard sett ..read more
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SEC Sued Ripple, Seeks $2B in Over Unlawful XRP Sales
Industry Leaders Magazine
by Mia Garcia
3d ago
The U.S. Securities and Exchange Commission (SEC) sued and is seeking fines and penalties totaling $2 billion in its case against Ripple Labs. SEC sued Ripple over unlawful crypto sales of the cryptocurrency XRP, the company’s chief legal officer said in a social media post on Monday. (Image Credit: shutterstock) Ripple Chief Legal Officer Stuart Alderoty said the SEC regulator has asked U.S. District Judge Analisa Torres in Manhattan for the penalties in court papers filed under seal. The SEC was scheduled to file the documents publicly with redactions on Tuesday. XRP curbed a bulk of it ..read more
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Stellantis Announces Layoffs Amid EV Push and Cost Cutting Plan
Industry Leaders Magazine
by Mia Garcia
3d ago
Chrysler parent Stellantis said on Friday it will lay off about 400 U.S. salaried workers as it seeks to cut costs, boost efficiency and ramp up electric vehicle production plans. Stellantis layoffs will be in its engineering, technology and software units as the automaker faces what it calls challenging market conditions. (Image Credit: stellantis) Stellantis on Friday said the layoffs would affect about 2% of employees in those units “after rigorous organizational reviews.” It employed 11,800 U.S. salaried employees as of the end of last year. Stellantis layoffs are ..read more
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Understanding What Corporate Strategy Is and Its Importance
Industry Leaders Magazine
by Mia Garcia
4d ago
An effective corporate strategy is a crucial component of any successful corporation. A well-crafted strategy has the potential to cause significant growth, an increase in profit, and long-term success. A corporate strategy is a valuable tool for expanding and defining the values of a company. Understanding what a corporate strategy is can help you increase overall profits and financial stability for your company. Companies use corporate strategies to create and identify long-term goals aimed toward improvement and success. What is a corporate strategy? A corporate strategy is a long-term pla ..read more
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The Contrasts and Convergences of Leadership vs Management
Industry Leaders Magazine
by Mia Garcia
5d ago
A few years ago, leaders, entrepreneurs, and innovators created companies, whereas managers were hired to run their operations. But, nowadays, you will notice that our educational system is mostly geared towards business management education. Also, there is a perceptual change that treats both management and leadership as the same, which is not a mere reality. So is there a difference between leadership vs managements. The terms “leadership” and “management” are often used interchangeably. While there is some overlap between the work that leaders and managers do, there are also significant di ..read more
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