Wolfspeed, a North Carolina semiconductor manufacturer for electric vehicles, has reached a bankruptcy agreement to reduce its $6.5 billion debt by over two-thirds, effectively wiping out existing shareholders. The company plans to formally file for bankruptcy soon and aims to emerge by the end of 2025, while navigating challenges from rising interest rates and changing government policies.
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Houston Rockets acquire Kevin Durant from Phoenix Suns, reports say
Kevin Durant TradeThe Phoenix Suns are trading 15-time All-Star Kevin Durant to the Houston Rockets for Jalen Green, Dillon Brooks, the 10th pick in the upcoming draft, and future picks. Durant, who averaged 26.6 points per game for Phoenix last season, will be joining his fifth NBA franchise after a challenging tenure with the Suns. Need More Context? 🔎
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