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SEC fines Ernst & Young $ 100 million for employees cheating on CPA ethics exams

Accounting giant Ernst & Young will pay $ 100 million to settle charges with the Securities and Exchange Commission that hundreds of its employees cheated on the ethics components of the Certified Public Accountant examination and continuing education courses and for withholding information about the misconduct to regulators. “It’s simply outrageous that the very professionals …

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Atari turns 50, and the godfather of video games talks about how to change the world

Atari turns 50, and the godfather of video games talks about how to change the world

“‘Schopenhauer always talked about creative destruction. New innovations often destroy old dominance. And that’s what you kind of want to do, because you’re not going to beat Microsoft at their game. But you can beat them at a game that you own. ‘” That’s Atari founder and mass-market video game creator Nolan Bushnell’s advice to …

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Nike’s quarterly profit beats Wall Street expectations, $ 18 billion buyback approved

Nike Inc. late Monday reported quarterly earnings above Wall Street expectations and said its board approved a new, $ 18 billion share buyback program, sending the apparel maker’s shares higher in the after-hours session. Nike NKE, -2.13% said it earned $ 1.4 billion, or 90 cents a share, in the fiscal fourth quarter, compared with …

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Robinhood stock spikes after reported deal interest from FTX

Shares of Robinhood Markets Inc. HOOD, +14.00% closed up 14% in Monday trading after a Bloomberg News report said that FTX, the cryptocurrency exchange run by Sam Bankman-Fried, was exploring whether it may be able to purchase Robinhood. The report, which quoted multiple anonymous sources, said that FTX was “deliberating internally” how it might be …

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NIO’s Hong Kong, Singapore shares hit new highs as outlook brightens

NIO Inc.’s shares in Hong Kong and Singapore have climbed to fresh record highs as the global outlook for electric-vehicle demand brightens. The electric-car manufacturer’s Singapore-listed shares NIO, +3.70% gained 4.1% to US $ 24.77 while its Hong Kong stock 9866, +2.49% rose 4.3% to 196.60 Hong Kong dollars (US $ 25.05), both new highs. …

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Here’s how much the average working boomer has saved for retirement

Three news items that say a lot about the retirement crisis facing Americans and what we can do about it — if we want to. The first is a survey of 1,000 working Americans conducted recently showing much, or little, they have saved for retirement. And the picture isn’t so much bleak as devastating. Less …

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Berkshire Hathaway Inc. Cl B stock outperforms market on strong trading day

Shares of Berkshire Hathaway Inc. Cl B BRK.B, +4.02% rose 4.02% to $ 278.28 Friday, on what proved to be an all-around favorable trading session for the stock market, with the S&P 500 Index SPX, +3.06% rising 3.06% to 3,911.74 and the Dow Jones Industrial Average DJIA, +2.68% rising 2.68% to 31,500.68. The stock’s rise …

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Crypto crash: forced selling cools down; correlation with equities back in focus

Hello! Welcome back to Distributed Ledger, our weekly crypto newsletter that reaches your inbox every Thursday. I’ll walk you through what’s going on in the current bear market. As usual, find me on Twitter at @FrancesYue_ to send feedback, or tell us what you think we should cover. You can also reach me through email …

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Supreme Court dismisses case against SEC’s ‘no admit, no deny’ policy backed by Musk, Cuban

The U.S. Supreme Court Tuesday rejected a challenge brought against the Securities and Exchange Commission by a former Xerox executive, and backed by Tesla CEO Elon Musk, against the Securities and Exchange Commission’s practice of barring those who agree to settlements with the agency from publicly proclaiming their innocence. The SEC’s so-called gag rule was …

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Elon Musk says SpaceX will accept Dogecoin for some merchandise, though the crypto is down 90% from all-time high

Dogecoin has jumped 13% over the past 24 hours on Tuesday to around $ 0.068, after Elon Musk reiterated his support for the meme coin, even though the crypto has lost more than 90% of its value from its all-time high in May 2021. Musk, chief executive at both Tesla TSLA, +11.72% and SpaceX, said …

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