After graduating from the University of Southern California in 2017, Tiffany Fong started several e-commerce businesses, earning passive income while traveling the world. She recently spoke with The Epoch Times about how she lost a lot of money investing in cryptocurrencies, which prompted her to become involved in exposing scandals in the crypto sector such as…
Sam Bankman-Fried Reveals Plans to Launch New Business After FTX Collapse
FTX founder Sam Bankman-Fried has revealed plans to start a new business venture just weeks after his cryptocurrency exchange spectacularly collapsed. In an interview with the BBC published on Saturday, the 30-year-old—who is facing a number of civil lawsuits brought against both him and his failed company—said he would “give anything” to be able to set up a…
House Republicans Warn ESG Policies May Violate Antitrust Laws, Demand Documents from Investor Group
December 11, 2022
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Business & Marketscongressdan bishopESGInvestmentJim JordanMatt GaetzPolicies & ImpactsPoliticsUSUS News
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Six Republicans on the House Judiciary Committee have launched an investigation looking into whether major climate groups are violating federal antitrust laws in their effort to push the “environmental, social, and governance” (ESG) agenda. Their concerns were raised in a letter dated Dec. 6 to two executives on the Steering Committee for investor group Climate…
Rising Electric Vehicle Production Costs May Lead to 1,350 Layoffs at Illinois Plant
December 11, 2022
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Business & MarketsCompanieseconomyelectric vehicle supply chainenergyEV problemsEV production costsIllinoisInvestmentLocal NewsMarketsRegional-Local NewsStellantisUSUS News
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Over a thousand employees at Stellantis’s assembly plant in Illinois are potentially set to lose their jobs as the company struggles with rising manufacturing costs. The Belvidere plant employs around 1,350 workers and is a site that manufactures the Jeep Cherokee SUV. Stellantis plans to indefinitely halt operations at the plant, which will result in…
Automaker Stellantis to Idle Illinois Plant, Citing Rising Electric Vehicle Production Costs
December 11, 2022
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Business & MarketsCompanieseconomyelectric vehicle supply chainenergyEV problemsEV production costsIllinoisInvestmentLocal NewsMarketsRegional-Local NewsStellantisUSUS News
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Automaker Stellantis will indefinitely idle an assembly plant in Illinois that employs around 1,350 workers, the company said, citing the challenge of rising costs related to the electric vehicle (EV) market and other factors. The site, which will be idled beginning in February 2023, manufactures the Jeep Cherokee SUV. Stellantis, the parent company of Chrysler, Dodge,…
Investor Home Purchases Follow National Trend of Housing Market Slump
Investor home purchases are down over 30 percent year-over-year nationwide, mirroring the trend of individual home purchases over the past several months. A recent report from Redfin indicates the third quarter drop is the largest decline since the Great Recession, with the exception of the second quarter of 2020 due to the Pandemic. Investors bought…
Georgia Joins Other States in Recent Announcements to Incentivize Electric Vehicle Production
December 9, 2022
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Business & MarketsCompanieseconomyElectric VehiclesenergyGeorgiaInvestmentNorth CarolinaPolicies & ImpactsSouth CarolinaTennesseeUS
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The Hyundai Motor Group (HMG) and SK On—a South Korean renewable energy technology firm—will be investing an estimated $4 billion to $5 billion in a northwestern Georgia county to build a battery manufacturing plant for electric vehicles (EV). Gov. Brian Kemp announced on Thursday that HMG and SK On have signed a memorandum of understanding…
FTX Employees Paint Complex Picture of Bankman-Fried
December 9, 2022
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Alameda ResearchBusiness & MarketscryptocurrencyFTXInvestmentMarketsSam Bankman-FriedTechThe BahamasUS
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As with many notorious villains, Sam Bankman-Fried is a complex and contradictory character. In the public eye, he has gone from quirky financial genius and selfless philanthropist to liar, con artist, and thief. But his former employees describe a more nuanced person that is neither angel nor villain. “Of all the things I’ve heard and…
Vanguard Drops Out of Climate Initiative as Reaction Against Woke ‘ESG’ Investing Continues
Investment firm Vanguard Inc. has announced that it’s pulling out from a major climate initiative as the company faces increasing pressure for its policy of using environmental, social, and governance (ESG) factors while investing in securities. In 2021, Vanguard joined the Net Zero Asset Managers initiative (NZAM), which aims to push the asset management industry…
Financial Regulatory Bodies Vie for Power Over Crypto Industry
The FTX collapse has reignited a power struggle between the two federal agencies—the Commodities Futures Trading Commission (CFTC) and the Securities and Exchange Commission (SEC). Many in the crypto business have pointed to the fact that the two agencies have been battling for domain over digital assets for a long time, which may be one of…
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