FTX founder keeps talking, ignoring typical legal strategy

NEW YORK - Sam Bankman-Fried, the founder and former CEO of FTX, has been unusually talkative following the November collapse of the cryptocurrency exchange and his subsequent indictment on fraud and other charges. He's given a series of interviews intended to present his version of events and used social media to criticize the new management of FTX. The atypical chattiness for a criminal defendant is likely causing Bankman-Fried's attorneys to scratch their heads, or worse. Prosecutors can use any statements, tweets or other communications against him at his trial, which is scheduled for October.

Bankman-Fried will appear before the judge hearing his case in New York Thursday on a bail-related matter.

- Associated Press

Pilot shortage puts pressure on airline operations

GOODYEAR, Ariz. - A shortage of pilots is limiting the number of flights that airlines can operate, which can cause problems during peak travel periods. The problem is most severe at small, regional airlines, but it could spread to the major carriers. In response, airlines have been in a hiring frenzy that is likely to continue for several years as the carriers replace pilots who reach the federal mandatory retirement age of 65. Airline executives warn that it could take years to produce enough pilots to meet Americans' growing desire to travel. The largest pilots' union says airlines just need to boost pay to attract people who already have pilot licenses.

- Associated Press

Peltz, citing changes at Disney, ends push for seat on board

Activist investor Nelson Peltz is calling off a proxy fight with Disney one day after newly returned CEO Bob Iger announced a major restructuring of the company that includes thousands of job cuts. Peltz phoned into CNBC Thursday to say that his firm, Trian Fund Management, got everything it wanted with the changes imposed by Iger. Peltz last month announced that he would seek a seat on the board of the entertainment company, citing a failed succession after Iger departed about two years ago and named Bob Chapek as his replacement. Chapek floundered as the chief executive and was ousted on Iger's return.

- Associated Press

Senate panel probes holiday meltdown at Southwest Airlines

Congress is hearing about the December meltdown at Southwest Airlines. A Southwest executive said Thursday the airline is upgrading software this week to better respond to disruptions such as winter storms.

The president of the pilots' union at Southwest says Congress needs to hold the airline accountable, and give firm dates for how it will fix a crewscheduling system that was overwhelmed in December. Sen. Maria Cantwell, chair of the committee holding the hearing, says there will be other snowstorms, so we need to learn why Southwest's operation collapsed and what needs to change so it doesn't happen again. Southwest canceled nearly 17,000 flights over the December holidays.

- Associated Press

U.S., UK impose cybersecurity sanctions on Russian group

WASHINGTON - The U.S. Treasury Department has announced a joint U.S.-U.K. effort to sanction Russian cybercriminals as the one-year anniversary of Russia's invasion of Ukraine nears and Treasury tightens its efforts to financially punish violators of existing sanctions.

The U.S. coordinated with the United Kingdom to impose sanctions on seven people that it said are part of the Russia-based cybercrime gang Trickb ot.

All members are listed as living in Russia or Russian-occupied Ukraine.

Trickbot is named for a strain of trojan viruses originally used to steal financial data. The viruses have infected millions of computers worldwide.

- Associated Press

Battery recycling firm wins $2B loan from Energy Department

WASHINGTON - A Nevada company that recycles batteries for electric vehicles has won a $2 billion green energy loan from the Biden administration.

Redwood Materials, a recycling venture founded by the former chief technology officer at Tesla, secured a conditional loan from the Energy Department 's Advanced Technology Vehicles Manufacturing program, which helped fuel Tesla more than a decade ago.

Energy Secretary Jennifer Granholm toured Redwood's facility in Nevada with Nevada Gov. Joe Lombardo on Thursday.

- Associated Press