Business

A strong smell of weed hangs over many New York neighborhoods, the result in part of cannabis decriminalization in 2019 – but cannabis growers in the state are at an impasse when it comes to getting their crops to market. Almost 300,000 pounds of the drug, worth as much as …

Most of the customers of failed crypto exchange FTX were institutions but the effects of its collapse are still likely to reverberate across the sector and may affect small retail investors, MPs have been told. “What we’re hearing … is that the majority of the funds in that platform were …

Jeremy Hunt is expected to increase the number of people paying the highest rate of tax by lowering the threshold from £150,000, according to Treasury sources. The move to increase the number of taxpayers paying the 45p rate of tax is a handbrake turn from Liz Truss’s government, which proposed …

Twitter temporarily closed its offices and cut workers’ access to internal systems on Friday as it began sacking staff without notice, a week after the billionaire Elon Musk took over the social media platform. The firings, which could see as many as half of Twitter’s 7,500 workers dismissed, came as …

The United Nations, Nato, European Union and US have all urged Russia to reverse its decision to pull out of a deal that allowed Ukrainian grain exports via the Black Sea, amid fears of a global food crisis. Moscow announced it was suspending the UN-brokered arrangement in response to a …

Alphabet revenue fell below analysts’ expectations in the third quarter, it announced on Tuesday, as it continues to battle an industry-wide tech slowdown. The company reported a third quarter revenue of $69bn, up 6% from last year but lower than analyst estimates of $70.9bn. Like many tech and social media …

Texas is suing tech giant Google for allegedly collecting biometric data of millions of Texans without obtaining proper consent, the attorney general’s office said in a statement on Thursday. In its complaint, Texas says that companies operating in the state have been barred for more than a decade from collecting …

Elon Musk on Saturday announced that his company would continue to pay for Starlink satellite internet in war-torn Ukraine, a day after suggesting he could not keep funding the project. “The hell with it,” the world’s richest man wrote on Twitter. “Even though Starlink is still losing money & other …

At last, some clarity from Kwasi Kwarteng, even if we’re only talking about the day on which the chancellor intends to make himself clear. The grand unveiling of the debt-cutting plan will happen on 31 October, which risks riffs about ghoulish Halloween tricks but is better than trying to prolong …

Buying Twitter “is an accelerant to creating X, the everything app”, said Elon Musk by way of a non-explanation of why he was now prepared to do the deal he was desperately trying to escape. One must conclude he judged his legal case to be doomed before it had even …