Mark Zuckerberg’s controversial cryptocurrency initiative is dead in the water amid resistance from the Federal Reserve — and Meta is now looking to sell off its crypto assets altogether, according to a report. The Diem Association — a crypto project formerly known as “Libra” that has been backed by the parent company of Facebook and … Read more
The International Monetary Fund is urging El Salvador to drop its controversial embrace of bitcoin as its legal tender, saying it “entails large risks” for the Central American nation’s economy. The IMF made the recommendations after it held negotiations with El Salvador — whose government is asking for a $1.3 billion loan to help pay … Read more
British luxury car manufacturer Bentley is making a sizable investment to fuel its transition to an all-electric vehicle lineup, the company said Wednesday. Bentley announced it will invest £2.5 billion – the equivalent of $3.4 billion – on the development of electric vehicles over the next 10 years. The carmaker will produce its first electric … Read more
If Elon Musk gets his way, McDonald’s will become the latest company to jump onto the Dogecoin bandwagon. Musk, a noted Dogecoin fan, called Tuesday for McDonald’s to accept the meme token as a legitimate form of payment for burgers and fries. The billionaire offered to provide McDonald’s with some publicity if they agreed to … Read more
Frustrated that you haven’t been able to tip the kitchen staff at restaurants in addition to tipping your waiter? Willie Degel is betting the answer is yes. The owner of Uncle Jack’s Steakhouse — a former Food Network star who appeared in the reality show “Restaurant Stakeout” – says he’s in talks with his point-of-sale … Read more
Coca-Cola and beer maker Molson Coors have banded together to roll out a new lemonade-flavored alcoholic drink. Simply Spiked Lemonade will hit store shelves this summer with each variety pack containing four flavors — lemonade, strawberry lemonade, watermelon lemonade, and blueberry lemonade. The drinks will be offered in 12-ounce slim cans while other select flavors … Read more
A Virginia woman drove across the country to stalk Apple CEO Tim Cook for more than a year by sending him photos of a loaded pistol and claiming to be the mother of his twins, according to explosive court documents. A California judge on Friday granted a restraining order against the woman after lawyers for … Read more
The International Monetary Fund cut its global growth forecast for 2022 due to slowing economic recovery in the US and China as well as the rise in COVID-19 cases and lingering disruptions in the supply chain. Global GDP, which reached 5.9% last year, has been revised downward to 4.4% this year, the IMF said in … Read more
A one-time Swiss banking CEO who is on trial for fraud now says that the nearly $220,000 he spent at strip clubs was a legitimate business expense. Pierin Vincenz, the former head of the bank Raiffeisen Switzerland, who was once honored as “banker of the year,” also claimed in a Swiss court that he spent … Read more
Allegations that Alphabet Inc.’s Google deceived users with unclear smartphone location tracking settings should be weighed by a jury, an Arizona judge ruled on Tuesday, refusing to toss out a lawsuit brought by the state’s attorney general. Google had sought summary judgment to get the case against it thrown out at an early stage. It … Read more