The Daily Chase: Ontario Teachers' Pension Plan writes off FTX investment; Qatar bans FIFA boozes
BNN Bloomberg
Ontario Teachers' Pension Plan is writing off the entire value of its investment in Sam Bankman-Fried's now-bankrupt FTX, citing potential fraud, as the impact of the cryptocurrency exchange's spectacular flameout ripple through to Canada.
MUSK ULTIMATUM SPARKS TWITTER EXODUS
Well, Elon Musk's ultimatum that Twitter employees either commit to the company's new “hardcore” (his words, not mine) work mode or get out has, uh, not gone the way the world's richest man intended. According to reporting from our Bloomberg News partners, employees have been leaving en masse in the wake of the pronouncement, dealing a blow to Musk's shiny new US$44 billion toy. Twitter has reportedly closed it offices until Monday, and Musk has walked back his demands to have everyone abandon work-from-home measures introduced in the pandemic. Not to read into just a single company, let alone one where Musk slashed staff by 50 per cent in the early days of his ownership, the whole debacle does make one wonder how much the balance of power has really tipped back to the employer as recession risks loom.
ANOTHER TWIST IN THE TURQUOISE HILL TAKEOVER
