FTX Chaos Prompts Reckoning on Dubai’s Embrace of Crypto Giants

(Bloomberg) — On Oct. 26, days before the collapse of his crypto exchange FTX, Sam Bankman-Fried sat for lunch at an upscale Dubai restaurant, subtly testing the waters for funding at a table of founders, bankers and financiers, including Anthony Scaramucci. 

After Tragedy In Family, Shapoor Mistry Faces A $29-Billion Challenge

Now Mistry, 57, will have to figure out how to resolve that dispute and free up cash as a weakening economy and rising interest rates rattle his Shapoorji Pallonji Group, which just emerged from years of financial stress during the pandemic. He has met with lawyers and consultants, people familiar with the discussions said. Those, … Read more

Adidas Dropped Ye, But Sneakerheads Haven’t

In the week since Adidas terminated its deal with Ye — the former Kanye West — the sneakers have remained in demand. Selling prices for models with the highest volume of recent transactions on StockX, an online resale platform, rose an average of 6.5%, according to analysis by Bloomberg. The biggest increase came from the … Read more

Food and wine trips to France, Italy, Spain and the UK

When Colin and Jenoa Matthes left their home state of Utah to embark on a world tour in 2019, they found themselves drawn to the food scenes in places like France and Italy. “We really loved, especially, the food in all of these different countries … and how local and specialized they were in different … Read more

John Mack, Who Led Morgan Stanley Into a Crisis, Regrets Little

(Bloomberg Businessweek) —  teems with its star’s name. “You’ve got to talk to John Mack,” a Duke University bigwig tells corporate recruiters. “Goddamn it,” an early Wall Street coworker says after seeing him in action, “John Mack just did that!” One veteran tells a big-time rival he’s now No. 2, behind a new No. 1: “John … Read more

Employees Have Finally Had Enough of Its Toxic Culture

(Bloomberg Businessweek) — Shortly after Exxon Mobil Corp. lost its battle with an activist investor last year, an executive named Bill Keillor decided to give his department a morale boost. It had been a difficult year and a half for Exxon employees. Covid-19 and plunging crude prices had led to halted salary increases, reduced benefits, … Read more

IRS to Make Largest Increase Ever to 401(k) Contribution Limit

Millions of Americans can save more in retirement accounts next year, after inflation adjustments made Friday by the Internal Revenue Service. The employee contribution limit for 401(k) and similar workplace plans will jump $2,000 to $22,500 for 2023, the largest increase ever in terms of dollars and percentage, according to benefits provider Milliman. About 60 … Read more

‘She needs to pay her debt’

Former Theranos CEO Elizabeth Holmes (L) arrives at federal court with her partner Billy Evans on October 17, 2022 in San Jose, California. Justin Sullivan | Getty Images SAN JOSE, Calif. — A star witness in the trial of former Theranos CEO Elizabeth Holmes doubled down on his testimony on Monday, two months after he … Read more