Author: News Room

Customers of the failed cryptocurrency exchange FTX are poised to recover all of the money they lost when the firm collapsed in 2022 and receive interest on top of it, the company’s bankruptcy lawyers said on Tuesday.The announcement was a landmark in the attempt to recover the $8 billion in customer assets that disappeared when FTX imploded virtually overnight, setting off a crisis in the crypto industry. Under a plan filed in federal bankruptcy court in Delaware, virtually all FTX’s creditors, including hundreds of thousands of ordinary investors who used the exchange to buy and sell cryptocurrencies, would receive cash…

International airline passengers arriving at Heathrow Airport near London and at other airports in Britain were facing long lines at immigration checkpoints on Tuesday evening after the nation’s Border Force reported a nationwide computer outage, officials said.“Border Force is currently experiencing a nationwide issue which is impacting passengers being processed through the border,” Heathrow, the country’s largest airport, said on social media at 9:15 p.m.The problem was also affecting Manchester Airport, Gatwick Airport near London and Belfast International Airport in Northern Ireland. The overall number of affected airports wasn’t clear.Officials said that the problem originated with the Border Force’s “eGates,”…

A report on workplace culture at the Federal Deposit Insurance Corporation released on Tuesday revealed a broad, yearslong pattern of sexual harassment, discrimination and abuse of mostly women and members of minority groups by senior officials. The findings are likely to lead to another potentially bruising round of questions for the agency’s chair, Martin Gruenberg, who is scheduled to testify in Congress later this month.The report said the bad behavior at F.D.I.C., which has the authority to monitor the health and stability of all U.S. banks but more closely oversees smaller institutions, affected “far too many employees” and went on…

A bipartisan group of senators is pushing to halt the expansion of facial recognition technology at airports in the United States and restrict its use as part of the Federal Aviation Administration reauthorization bill that is making its way through Congress.Citing privacy concerns, Senators Jeff Merkley, Democrat of Oregon, and John Kennedy, Republican of Louisiana, are proposing to block the expansion of the technology until 2027 and require the transportation security administrator to make clear that passengers can opt out at airports where it is in use.With a Friday deadline for renewing the aviation law, the proposal is among the…

Less than two weeks after President Biden signed a bill that will force TikTok’s Chinese owner, ByteDance, to sell the popular social media app or face a ban in the United States, TikTok said it sued the federal government on Tuesday, arguing the law was unconstitutional.TikTok said that the law violated the First Amendment by effectively removing an app that millions of Americans use to share their views and communicate freely. It also argued that a divestiture was “simply not possible,” especially within the law’s 270-day timeline, pointing to difficulties such as Beijing’s refusal to sell a key feature that…

Around 6:30 every morning, David Richardson is usually awakened by the swelling sound of traffic. Steps from his front yard, thousands of cars rumble past each day as they travel along the Kensington Expressway, an expansive six-lane highway that slices through his neighborhood on Buffalo’s East Side.The expressway, built in the 1950s and ’60s to move cars faster between downtown Buffalo and its suburbs, has long depressed property values and stifled economic development in this low-income and predominantly Black community. It has also posed a physical barrier, making it harder for residents to reach grocery stores and parks.New York State…

As experts warn that images, audio and video generated by artificial intelligence could influence the fall elections, OpenAI is releasing a tool designed to detect content created by its own popular image generator, DALL-E. But the prominent A.I. start-up acknowledges that this tool is only a small part of what will be needed to fight so-called deepfakes in the months and years to come.On Tuesday, OpenAI said it would share its new deepfake detector with a small group of disinformation researchers so they could test the tool in real-world situations and help pinpoint ways it could be improved.“This is to…

Nearly two decades after the fast-casual salad chain Sweetgreen was founded, the company announced on Tuesday that it would introduce beef to its menu.According to Nicolas Jammet, a founder of Sweetgreen, the addition of a caramelized garlic steak option comes at a time when many Americans are trying to increase their protein intake and also as Sweetgreen is looking to attract more customers for dinner.The decision, however, leaves many questions about how the company, which has more than 225 locations, may accomplish its goal of carbon neutrality by 2027 when beef production is a significant factor in climate change. As…

When Disney reported robust earnings in February, the activist investors then circling the company essentially called it a stunt — a temporary, heat-of-battle effort to fend them off and not, as Robert A. Iger maintained, proof that a struggling Disney had finally “turned the corner.”The Disney chief’s argument just got a lot stronger.Disney blew past Wall Street’s expectations for a second consecutive quarter on Tuesday, in part because its flagship streaming service made money — a first. Disney+ had been expected to lose more than $100 million in the most recent quarter, widening losses since its 2019 arrival to roughly…

The numbers behind a big fundOn Wall Street, one mystery has been whispered about for months: How accurate is the valuation of Blackstone’s flagship real estate fund?The speculation has arisen because the fund, the $59 billion Blackstone Real Estate Income Trust — more commonly known as BREIT — has managed to keep an “appraised” value of its assets that far exceeds virtually every other real estate fund. Many rivals have fallen in value, some quite dramatically, in the face of high interest rates and a flagging property market.BREIT’s performance has floated above its competition, and it has boasted a 10.5…