Bankman-Fried plans to plead not guilty in the FTX fraud case

NEW YORK, Dec. 30 (Reuters) – Sam Bankman-Fried is expected to enter a plea on Tuesday not guilty of criminal charges that he defrauded investors and looted billions of dollars at his now-bankrupt FTX cryptocurrency exchange, according to a known source with the case. Bankman-Fried is accused of illegally using customer FTX funds to support … Read more

Chinese manufacturing is shrinking sharply as the number of COVID infections rises

BEIJING, Dec. 31 (Reuters) – China’s factory activity contracted at its strongest pace since the pandemic first broke out nearly three years ago, after Beijing abruptly reversed anti-epidemic measures this month, sparking a wave of COVID infections across the country . The official purchasing managers index (PMI) fell from 48.0 in November to 47.0 in … Read more