Business

Adam Neumann’s bid to buy back WeWork essentially ended this week. A bankruptcy court on Monday approved a deal that gets WeWork out of debt. It could conclude its restructuring and leave bankruptcy by late May following a vote on the deal, thanks to $450 million in financing provided largely by WeWork creditor and real estate technology provider Yardi Systems. That deal would eliminate $4 billion in...

More than three million Australians will have their student debt wiped in a bid to win over younger voters crushed by the cost of living crisis. Education Minister Jason Clare on Sunday announced the government would cap the Higher Education Loan Program (HELP) indexation rate, eliminating about $3 billion of student debt. The capped rate would ensure indexation matched either the Consumer Price Index (CPI) or...

Joe Lubin is in a fight with the Securities and Exchange Commission. Not only is the financial regulator waging war against Ethereum, he claims, but making a grab for jurisdiction over the future of the Internet. So Lubin has decided to punch back. In 2015, Lubin was part of the team that created Ethereum, the computer network home to the world’s second largest cryptocurrency, known...

China’s economic forays into resource rich Central Asia, a region which shares deep historical, political and economic ties with Moscow, has created certain discomfiture in the Russian establishment. In a recent trade meet in Uzbekistan a Russian trade official emphasised that Russia and China were “equal partners with an equal share in trade turnover” in the resource rich Central Asian country.It must be pointed...

OpenAI released draft documentation Wednesday laying out how it wants ChatGPT and its other AI technology to behave. Part of the lengthy Model Spec document discloses that the company is exploring a leap into porn and other explicit content. OpenAI’s usage policies curently prohibit sexually explicit or even suggestive materials, but a “commentary” note on part of the Model Spec related to that rule says the company is considering...