Nick R. Hamilton, Author at Slay News

Norway Bolsters Security of Vulnerable Undersea Cables after Nord Stream Pipeline Sabotage

Norway is bolstering its security of undersea cables after the recent sabotage of the underwater Nord Stream pipeline system exposed critical vulnerabilities. The Norwegian government announced it is boosting security around vulnerable undersea fiber optic cables. The cables are vital to the country’s oil and gas production. Officials said the…

Local Governments Mobilize Veterans to Cover Worker Shortage at Foxconn over Revenue Loss Fears

Local governments in China are mobilizing military veterans to cover the worker shortage at Foxconn as violent protests over Covid lockdown measures continue to escalate at the world's largest Apple iPhone factory. The combination of the protests and the Chinese Communist Party's ongoing zero-Covid approach has created a shortage of…

American Consumers’ Sentiment on Economy Plummets, New Survey Shows

Sentiment regarding the U.S. economy is plummeting among American consumers, a new survey has revealed. Consumer sentiment fell this month, despite upwardly revised figures, according to the University of Michigan. In a newly released survey, the consumer sentiment index for November had deteriorated less than expected and was revised to…

Ford Recalls More than 634,000 SUVs over Fuel Leaks, Fire Risk

Ford Motor Company is recalling more than 634,000 SUVs globally over reports of fuel leaks and fire risks. The move came after it emerged that these vehicles may run a risk of a cracked fuel injector that can leak vapors or spill fuel onto a hot engine, potentially triggering a…

Musk Delays Relaunch of Twitter Blue, Announces New Gold and Grey Checkmarks

Elon Musk is delaying the relaunch of the Twitter Blue subscription service but has announced that the social media platform is rolling out new gold and grey checkmarks. The Twitter Blue verified checkmark service is being pushed back from November 29 to December 2. In a tweet early on Friday…

Sam Bankman-Fried Ran FTX as His ‘Personal Fiefdom,’ Lawyers Say

FTX founder and former CEO Sam Bankman-Fried ran his company like a “personal fiefdom,” lawyers for the failed cryptocurrency exchange say. FTX's legal team made the statement in a Wilmington, Delaware bankruptcy court on Tuesday. The comment came during the first bankruptcy hearing for the collapsed crypto exchange. The company…

FTX Funneled Millions into Political Campaigns before Bankruptcy

Three FTX executives funneled over $70 million to political campaigns during the 2022 election cycle, ranking third in donations overall, records show. Former FTX executives sought to gain influence in Washington by contributing significantly to this year’s midterms. The big beneficiaries of FTX’s donations have attracted attention following the spectacular collapse…

S&P Global Warns: Corporate Defaults Will Double Even in Mild Recession

Leading analysts with S&P Global have warned that corporate default rates will more than double, even if the United States only suffers a mild recession. According to the Monday warning from S&P Global Ratings, the default rate for American companies could reach 3.75 percent by September 2023. The rates will…

Elon Musk Restores Project Veritas’ Twitter Account

Elon Musk's Twitter has restored the account of the non-profit investigative journalism watchdog Project Veritas as several high-profile users have had bans lifted in recent days. The Project Veritas, headed by James O’Keefe since 2011, is the latest account to be reinstated after the social media platform was taken over…

Alameda: The Firm at the Heart of FTX’s Epic Collapse

In late 2017, MIT alumnus Sam Bankman-Fried left the quantitative trading firm Jane Street to start his own cryptocurrency trading firm, Alameda Research. Founded prior to FTX, Alameda got its start by taking advantage of bitcoin price differentials between Japanese and U.S. exchanges, namely by buying bitcoin for a low price in the…