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HomeNewsGlobal NewsGlobal Market Watch: AT&T Breach, Kia Recall, Bankman-Fried's Sentencing etc.

Global Market Watch: AT&T Breach, Kia Recall, Bankman-Fried’s Sentencing etc.

Global Market developments include data thefts, car recalls, and Sam Bankman-Fried’s 25-year prison sentence for defrauding FTX customers.

Global Market:-Kia plans to recall 4.3 lakh cars due to safety concerns, Alaska Air faces turbulence due to grounded Boeing models, and Nippon Steel faces scrutiny for US Steel acquisition.

Kia Recall

Kia has issued a recall for 4.27 lakh Telluride SUVs due to a defect causing the intermediate shaft and right front driveshaft to not be fully engaged, potentially causing unintentional movement.

AT&T Breach

AT&T confirmed a massive data breach, resulting in millions of customers’ data being stolen and uploaded to the dark net, and reset passwords for millions.

Nippon Steel

Japan’s Nippon Steel is pursuing its $15 billion acquisition of US Steel, aiming to recognize its ‘deep roots’ in the sector despite US President Joe Biden’s opposition.

Bankman-Fried has been sentenced

Ex-crypto boss Sam Bankman-Fried has been sentenced to 25 years in prison for fraud leading to FTX’s collapse and forfeiture of over $11 billion, allegedly stealing money, lying, and bribing foreign officials.

Alaska Air profit plans may fall

Alaska Air Group’s long-term profit plans may fall below target due to lost capacity from Boeing 737 Max 9 fleet grounding, with an adjusted loss of 45-55 cents per share. Capex plans and expectations are uncertain.

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