FTX saga & bankruptcy filing, tech companies cut costs, retail earnings stay strong (for now)

Over the past week, the SBF and FTX situation has only grown more complex. More and more workers are getting let go as companies begin to prioritize profits over growth. And retail sales increased 1.3% in October but it seems to be fueled by consumer debt as US household debt rose to $16.5 trillion.   

All these stories covered on “This Week in Finance”   

November 10 - November 17  

#stocks #ftx #crypto #news  

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00:00 Busy week in finance  

00:37 Cost cutting & Google activist letter 

04:35 FTX saga continues & bankruptcy filing 

10:33 Retail sales & earnings 

14:45 Thank you for watching!  

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Activist Letter: https://www.tcifund.com/files/corporateengageement/alphabet/15th%20November%202022.pdf 

Amazon Cuts Jobs: https://www.cnbc.com/2022/11/14/amazon-reportedly-plans-to-lay-off-about-10000-employees-starting-this-week.html 

2022 Tech Layoffs https://www.cnbc.com/2022/11/09/tech-layoffs-2022.html 

SBF Vox Interview: https://www.vox.com/future-perfect/23462333/sam-bankman-fried-ftx-cryptocurrency-effective-altruism-crypto-bahamas-philanthropy

 Genesis: https://www.coindesk.com/business/2022/11/16/genesis-crypto-lending-unit-is-halting-customer-withdrawals-in-wake-of-ftx-collapse/ 

BlockFi: https://www.coindesk.com/business/2022/11/16/genesis-crypto-lending-unit-is-halting-customer-withdrawals-in-wake-of-ftx-collapse/ 

Genesis Tweet: https://twitter.com/JasonYanowitz/status/1592917789898989568?s=20&t=yF2vtZtZLdx5OmyqeNG7Yw 

FTX Tweet: https://twitter.com/gurgavin/status/1593292792582635520?s=20&t=yF2vtZtZLdx5OmyqeNG7Yw 

Retail Earnings Tweets: https://twitter.com/finfriendsYT 

US Retail Sales: https://www.reuters.com/markets/us/us-retail-sales-beat-expectations-october-2022-11-16/ 

Household Debt: https://www.cnbc.com/2022/11/15/household-debt-soars-at-fastest-pace-in-15-years-as-credit-card-use-surges-fed-report-says.html

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*These videos are for entertainment purposes only and are NOT financial advice*