Crypto exchange FTX is replacing its U.S. president

Brett Harrison, FTX Source: CNBC Brett Harrison, the U.S. president of the crypto exchange FTX, announced his resignation on Tuesday, with the company in the midst of a massive expansion effort. Harrison said on Twitter that he will be moving into an advisory role at the company and said he plans to remain in the … Read more

Amazon’s second Prime Day sale will take place Oct. 11-12

Workers retrieve boxes at an Amazon fulfillment center on Prime Day in Raleigh, North Carolina, U.S., on Monday, June 21, 2021. Rachel Jessen | Bloomberg | Getty Images Amazon is hosting another Prime Day-like deal bonanza next month, marking the first time it will hold two such events in the same year. The company said … Read more

Facebook stock falls to yet another ignominious level

Facebook was a member of the exclusive $1 trillion club a year ago, but it’s fallen a long way since then. Now named Meta Platforms Inc. META, -2.18%, the company saw its market value fall below $400 billion Friday for the first time since Jan. 7, 2019, according to Dow Jones Market Data. Meta’s valuation … Read more

Meta shares plunged 14% this week, falling close to their pandemic low

Meta Platforms CEO Mark Zuckerberg speaks at Georgetown University in Washington on Oct. 17, 2019. Andrew Caballero-Reynolds | AFP | Getty Images Facebook hasn’t been this cheap since the beginning of the pandemic. After plunging 14% for the week to close at $146.29, shares of Facebook parent Meta are at their lowest point since March … Read more

The Meta meltdown: This chart shows Facebook’s fall from grace among the most valuable U.S. companies

Dogged by competitive and macroeconomic threats, Meta Platforms Inc. is sinking down the ranks of the largest U.S. companies. After a 9.4% daily slide in its stock, Meta META, -9.37% ranked 10th by market value as of Tuesday’s close, falling below Visa Inc. V, -3.37% for the first time since the start of August. Meta, … Read more

AppLovin abandons effort to buy Unity after $20 billion bid rejected

AppLovin logo is seen at the company’s booth one day before the China Digital Entertainment Expo & Conference (ChinaJoy) at Shanghai New International Expo Center on August 1, 2019 in Shanghai, China. VCG | Visual China Group | Getty Images Game developer AppLovin said it’s giving up on its effort to buy Unity. After Unity … Read more

Amazon Sellers See ‘Scary’ Holiday Season as Consumers Pull Back

The effects are rippling from sellers to firms that support them, including small business lenders. Amazon merchants commonly borrow about $100,000 to buy inventory and pay for marketing campaigns during the holidays, paying the loans off with their proceeds. Seth Broman, chief revenue officer of Swiftline, which offers loans to online merchants, is turning down … Read more

Homes Sell Below List Price in US for First Time Since March 2021

The shift is largely because of surging mortgage rates, which have dented affordability and kept many would-be buyers on the sidelines, forcing sellers to accept lower prices. The average sale-to-list price ratio fell to 99.8% in the four-week period ended Aug. 28. It hasn’t been below 100% since March 2021, Redfin said.