Banking & Insurance

in Business, Energy, Investing, Markets, Money, Personal Finance, Retail, Retirement, Wealth Management
Dow Falls Nearly 300 Points, Treasury Yields Surge As Experts Warn Of A Hard Economic Landing
Topline Stocks fell and rates on government bonds surged on Wednesday as investor concerns about a slowdown in economic growth continued to weigh on markets, while oil jumped to a 13-week high on the back of climbing U.S. gas prices. Stocks will struggle for direction until there are “clear signs” that the Fed is taming… More
June 8, 2022, 1:09 pm
in Billionaires, Business, Energy, Investing, Markets, Money, Personal Finance, Wealth Management
Buffett Buys More Occidental Shares—Here’s How His Top Holdings Have Fared In This Year’s Brutal Market
Topline Billionaire investor Warren Buffett continues to see opportunities in the stock market despite a selloff in recent months, recently snapping up more shares of energy company Occidental Petroleum, as some of his biggest holdings continue to outperform despite surging volatility this year. Some of the billionaire investor’s big bets in energy and consumer-related stocks… More
March 17, 2022, 12:30 pm
in Billionaires, Business, Consumer Tech, Innovation, Investing, Markets, Media, Money, Personal Finance, Wealth Management
Facebook Faces An ‘Existential Moment’ After $230 Billion Stock Crash
Topline Shares of Facebook parent Meta fell over 25% on Thursday—erasing over $230 billion in market value for its worst trading session in history—after the company’s dismal quarterly earnings report showed declining users and surging expenses related to the company’s metaverse project. Facebook’s stock had its biggest drop ever, losing a quarter of its value… More
February 3, 2022, 10:27 am
in Business, Investing, Money
Citi Can’t Get Back $500 Million It Accidentally Wired To Revlon Lenders, Federal Judge Rules
Topline Citigroup has lost out on an attempt to retrieve more than $500 million it mistakenly wired last year to a group of companies that loaned money to embattled cosmetics firm Revlon, marking what could be the end to a lengthy saga sparked by a massively costly mishap from one of the nation’s largest banks.… More
February 16, 2021, 9:52 am
in Billionaires, Business, Investing, Lifestyle, Markets, Money
Thanks To IPO Pop, Airbnb’s Three Billionaire Cofounders More Than Double Their Net Worths In A Single Day
Airbnb cofounders: Chief product officer Joe Gebbia (left), chief strategy officer Nathan … [+] Blecharczyk (center) and CEO Brian Chesky (right). Charley Gallay/Getty Images for Airbnb Airbnb’s much-anticipated initial public offering was well worth the wait for the company’s three billionaire cofounders. Shares soared on their first day of trading Thursday, more than doubling the… More
December 10, 2020, 1:12 pm
in Investing, Money
American Express Not A Top Buy, Even With Its Additional Perks
getty This week has been a busy one for American Express. The globally integrated payments firm has had a busy year, in fact, charging up over half a billion dollars in losses in the second quarter of 2020 alone. However, although the company reported an 85% slump in quarterly profit as of June 30, they… More
October 1, 2020, 12:33 pm
in Business, Investing, Markets, Money, Wealth Management
JPMorgan Admits Wrongdoing In Illegal Trading Allegations, Will Pay Record $920 Million To Regulators
Topline JPMorgan Chase will pay a record $920 million to resolve a criminal investigation by three federal agencies over its role in the alleged manipulation of precious-metal and Treasury markets, federal regulators said on Tuesday. The bank settled probes of market manipulation in precious-metal and Treasury markets over an … [+] eight-year period. Win McNamee/Getty… More
September 29, 2020, 9:48 am
in Business, Innovation, Investing, Markets, Money, Personal Finance, Science, Wealth Management
Dow Falls 250 Points As Tech Stocks Drag Market Lower
Topline The market fell sharply on Thursday as tech stocks continued to struggle, while conflicting timelines on a coronavirus vaccine and uncertainty around the next fiscal stimulus bill from Congress also weighed on investors. Stocks were under pressure again on Thursday. Spencer Platt/Getty Images Key Facts The Dow Jones Industrial Average was down 1%, nearly… More
September 17, 2020, 9:36 am
in Innovation, Money
Ohpen Acquires Davinci To Create Comprehensive Cloud Banking Platform
Ohpen, the Dutch cloud-based banking system, has announced the acquisition of Davinci, a provider of cloud-based cross-border loans and mortgages. With the acquisition, Ohpen can offer a full suite of products — across savings, investments, loans, mortgages and current accounts — in a cloud environment. The company works with traditional banks that want to move to… More
September 9, 2020, 9:11 am
in Investing, Money, Personal Finance
How The First Black-Owned Bank With $1 Billion In Assets Can Close The Racial Wealth Gap
getty The first Black-owned bank to reach $1 billion in assets has been created, due to the merger of City First Bank of D.C. in Washington and Los Angeles-based Broadway Federal Bank. Both banks had been working on this deal for a year and the newly created lender will focus on housing, small businesses, and… More
September 1, 2020, 5:57 am
in Business, Consumer Tech, Innovation, Investing, Markets, Money, Personal Finance, Retail, Wealth Management
Here’s Why A TikTok Deal Makes Sense For Walmart
TOPLINE Though many on Wall Street were surprised by Walmart’s recent announcement that it has teamed up with Microsoft in a bid to buy TikTok, a deal would allow the retailer to leverage the social media app to reach younger consumers and build its e-commerce platform, analysts say. A deal for TikTok could be a… More
August 28, 2020, 1:23 pm
in Leadership, Money
Backlash Against WFH Is Based On Preference Not Evidence
Follow my leader could be ruinous in the WFH revolution Volkanakmese for Shutterstock To a deserted Canary Wharf, London. Barclays is – or was – headquartered here. Its chief executive Jes Staley has signaled he wants people back in the office. “It is important to get people back together in physical concentrations,” he said. “We want our… More
August 20, 2020, 2:40 am
in Billionaires, Business, Consumer Tech, Innovation, Investing, Markets, Money
Apple Becomes First U.S. Company Worth More Than $2 Trillion
TOPLINE Apple hit a new milestone on Wednesday, becoming the first publicly traded U.S. company to reach a market capitalization of over $2 trillion and doubling in valuation over the last two years. Apple CEO Tim Cook. Taylor Hill/WireImage KEY FACTS The iPhone maker’s stock is up almost 55% so far in 2020, and shares… More
August 19, 2020, 9:15 am

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