Author: Press Room

Last updated: March 4, 2024 10:31 EST | 2 min read Ethereum’s major upgrade, “Dencun” is scheduled to drop on March 13, and, according to developers, it will immediately decrease gas fees on layer 2s by 75%.A new technological feature called proto-danksharding, aka blobs, is driving this impressive added scale.Proto-danksharding funnels some of the data from Ethereum’s layer 2s into temporary storage “blobs” of up to one month to offload some of the validating work, making it cheaper and faster.Polygon Labs’s Vice President of Product, David Silverman, told Decrypt in a recent interview that gas fees may even drop to a…

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On Wednesday, Rivian announced it would lay off 10% of salaried staff the next day.One laid-off worker said it was their fourth round of layoffs at Rivian but anxiety was still high.They waited all night to learn they’d been laid off but were relieved the uncertainty ended. Thanks for signing up! Access your favorite topics in a personalized feed while you’re on the go. download the app This as-told-to essay is based on a conversation with a former Rivian employee who was laid off Thursday and spoke anonymously to protect their privacy. Business Insider has verified their identity and employment. The…

For the fourth calendar quarter of 2023, an average partnership interest in Artko Capital LP was up 6.9% net of fees. At the same time, investments in the most comparable market indexes-Russell 2000 (RTY), Russell Microcap, and the S&P 500 (SP500, SPX) -were up 14.0%, 16.1%, and 11.7% respectively. For the calendar year of 2023, an average partnership interest in Artko Capital LP was up 1.6% net of fees. At the same time, investments in the most comparable market indexes-Russell 2000, Russell Microcap, and the S&P 500- were up 16.9%, 9.3%, and 26.3% respectively. Our detailed results and related footnotes…

Stay informed with free updatesSimply sign up to the Oil myFT Digest — delivered directly to your inbox.Opec+ members led by Saudi Arabia and Russia have extended the latest round of voluntary cuts to oil production for another three months, as they attempt to boost prices that have remained subdued despite ongoing geopolitical tensions.The curbs were due to expire at the end of March but will now be maintained until the end of June, according to Saudi Arabia’s state news agency.The measures add to a series of output cuts by Opec+ members since 2022 designed to support prices amid rising…

Former Presidential Candidate Scott Walker: “I don’t see any path for Nikki Haley” Former Wisconsin Gov. Scott Walker, Michigan State Senate Majority Whip Mallory McMorrow, Republican Strategist Doug Heye and CNN Political Commentator Karen Finney join CNN’s Dana Bash to discuss the countdown to Super Tuesday and the state of the 2024 presidential race. Read the full article here

Paramount Global plans to eliminate jobs as the entertainment company takes a step toward cutting costs. In an internal employee memo obtained by Barron’s, Chief Executive Bob Bakish wrote that returning to earnings growth was a top priority for the company, which has seen annual earnings decline each year since 2020. “This will require us to continue to grow revenue, while reducing costs. And unfortunately, part of streamlining costs means that today, we will begin the difficult process of saying goodbye to some of our very valued colleagues across Paramount,” Bakish said in the memo. Bakish had told employees back…

The recent troubles at New York Community Bancorp Inc. are not a sign of systemic problems in the U.S. banking system, a top Federal Reserve official said Wednesday. “A single bank missing its revenue expectations and increasing its provisioning does not change the fact that the overall banking system is strong, and we see no signs of liquidity problems across the system,” said Fed Vice Chair for Supervision Michael Barr, in a speech to a meeting of the National Association of Business Economics in Washington. Barr said there were “a few patches and pockets of risk” in the sector, including…

By Arathy Somasekhar and Georgina McCartney HOUSTON (Reuters) – Energy Transfer (NYSE:) does not expect the U.S. Army Corps of Engineers to shut down the Dakota Access oil pipeline (DAPL) after a long-pending environmental review of a section that runs under a lake and is opposed by nearby Native American tribes, Executive Chair Kelcy Warren said on Tuesday. A U.S. court in 2022 ordered the federal government to undertake a more intensive environmental impact statement (EIS) of the 1,100-mile (1,800-km) long crude pipeline’s route, the latest saga in a lengthy court battle between the tribes and pipeline operator Energy Transfer.…

By Anton Bridge TOKYO (Reuters) – For years, SoftBank (TYO:) Group splashed out billions on startups at near-peak valuations without batting an eye. Now founder Masayoshi Son’s tech powerhouse is relying on a new weapon as it searches for the next big thing in AI: caution. The strategy marks a vast turnaround for a company that completely transformed the world of tech investing with its high-conviction bets on startups at an unheard of scale. It also highlights the lingering effect of SoftBank’s “defence mode”, a strategy it adopted after being hit by plummeting valuations in the aftermath of the pandemic,…