FTX sues Binance and former chief Zhao for $1.8bn

TikTok briefly went dark in the U.S. before returning as negotiations continue with potential suitors, but the app is still not available in app stores. Some users are selling smartphones with TikTok installed at inflated prices on resale sites like Poshmark and eBay, with listings reaching thousands of dollars. While some listings may be jokes, the demand for TikTok-enabled phones remains uncertain as a new iPhone 16 without TikTok starts at $799. Full Article

Chevron has completed an expansion at its Tengiz oil field in Kazakhstan to increase production to around one million barrels a day, nearing 1 percent of global supplies. Despite concerns about declining demand due to electric vehicles, Chevron remains confident in the growth of global oil demand. The $49 billion expansion project, involving partners like ExxonMobil and Lukoil, is crucial for Chevron's financial performance and Kazakhstan's government revenue, despite challenges such as hydrogen sulfide gas...

President Trump declared a national energy emergency and proposed using coal as a backup fuel source for new electric generating plants to meet increased electricity demand for artificial intelligence. Despite the U.S. having abundant fossil fuel reserves, coal generation has declined due to the cheaper costs of natural gas and renewables. Experts predict coal will remain economically unviable, while the Trump administration's focus on fossil fuels may hinder the country's competitiveness in the global energy...

Donald Trump's push for a new oil boom faces resistance from Wall Street, with shale executives warning that US oil output in his second term will only rise slightly, due to investor pressure and economic factors. Despite Trump's efforts to boost production and lower prices, shale companies are hesitant to ramp up drilling, citing profitability concerns and the depletion of prime drilling locations. The industry's caution is driven by past volatility and current price pressures,...

Last year, wages outpaced house price growth, leading to a slight improvement in affordability for buyers in the UK, with first-time buyers still paying five times their annual salary for a property. Despite a decrease in mortgage rates, high borrowing costs remain a barrier to home ownership, with the average mortgage rates exceeding 5%. Data shows that 40% of first-time buyers received help with a deposit, mainly from family or friends, due to rising rents....

In January, layoffs at CNN, Citigroup, and Microsoft were reported, with Stripe also cutting 300 roles this week. Unlike traditional notices, Stripe employees were notified with an illustration of a cartoon duck, causing confusion and incorrect dates on termination notices. Despite the gaffe, Stripe plans to continue hiring and increase its workforce by 17% this year to 10,000 employees. Full Article