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bankruptcy protection

Economy

Aussie company cuts 8 per cent of staff

Azeem
An Australian e-bike start-up has made its second round of job cuts in the space of eight months as it slashed a further 8 per cent of its workforce.Zoomo had previously provided services to the grocery delivery service Milkun, which…
Economy

$1b blunder behind giant’s collapse

Azeem
US retailer Bed Bath & Beyond, seller of everything from shower curtains and soaps to vacuum cleaners and duvet covers, for years was a fixture on the Fortune 500 list of biggest American companies.But after a years-long decline that…
Economy

Sudden meme-rally after bankruptcy call

Azeem
Bed Bath & Beyond’s stock price has surged after it became the target of a meme-rally.It’s an abrupt turnaround for the struggling firm, which last week signalled it could imminently file for bankruptcy.On January 5, the company’s stock…
Economy

Boss vanishes after firing 2,700 workers

Azeem
The owner of a major US company — which last week fired 2,700 workers through texts and emails while they slept — has disappeared after squabbling with the company’s board and bankers over whether to file for bankruptcy.David Belford, a…
Economy

Fury at disgraced crypto CEO’s plum new gig

Azeem
The New York Times has confirmed disgraced FTX founder Sam Bankman-Fried will appear for a plum speaking gig next week, sparking widespread outrage.The 30-year-old, who is under investigation by authorities in the US and the Bahamas over…
Economy

SBF ‘deeply sorry’ for FTX collapse

Azeem
Disgraced FTX founder Sam Bankman-Fried told former employees he is “deeply sorry” about the implosion of his crypto exchange – but continued to point the finger at the company’s bankruptcy filing, insisting that he could have saved the…
Economy

‘Liar, fraud’: Billionaires go for the throat

Azeem
Former chief executive of cryptocurrency exchange FTX Sam Bankman-Fried appears to be slowly writing the phrase “what happened” on Twitter, letter by letter.The world is asking the same thing after his companies, worth $47.77 billion (US$32…
Economy

Grim prediction for global vape company

Azeem
A once-leading global vape provider is looking to shave off a third of its global workforce to save itself from bankruptcy. On Thursday, Juul Labs – a company behind rechargeable e-cigarettes (or ‘vapes’) – reached a financing deal with…