Robinhood co-founders Vlad Tenev (L) and Baiju Bhatt (R) in 2015. Ben Margot/ASSOCIATED PRESS With additional reporting from Antoine Gara, John Dobosz and Jeff Kauflin Following the tragic suicide of a 20-year-old Robinhood trader after he saw a $730,000 negative balance in his account, the company’s founders released a statement pledging to tighten eligibility criteria,
Month: June 2020
Rents are down 8 to 10% in New York City. Getty As nearly 1 million rent-stabilized apartments in New York City receive a rent freeze in the midst of the coronavirus pandemic and economic fallout, landlords with market units are reducing rents by nearly 10% amid lower than usual demand. Zillow Z -owned New York
AMC reversed course on a controversial policy on Friday, saying it will now require all patrons at its movie theaters to wear face masks in an effort to quell the spread of the coronavirus. Initially, AMC had decided that masks would be optional, saying the decision not to require masks was made in an effort to avoid
Senator Ron Wyden, a Democrat from Oregon and ranking member of the Senate Finance Committee, speaks during a hearing in Washington, D.C., U.S., on June 9 about unemployment insurance during the Covid-19 pandemic. Leah Millis/Reuters/Bloomberg via Getty Images The enhanced unemployment benefits supporting household income for millions of jobless Americans will soon lapse. Lawmakers, scrambling
The private-jet industry is seeing a rapid rebound from the coronavirus crisis, as new customers who had never flown private splurge to avoid the crowds and lines of commercial flying. While commercial traffic is running about 15% to 17% of last year’s totals, private flights are running at up to 70% or more of normal,
Robinhood app Source: Robinhood Robinhood is making it more difficult to get access to its options offering in the wake of a customer’s suicide last week. In a blog post Friday, Robinhood’s co-CEOs outlined multiple changes to the free-trading app. Robinhood will increase eligibility requirements, and “consider additional criteria” for customers for level three options
Student loan borrowers could see big changes over the next few months. pcess609 Former Vice President Joe Biden made an announcement in April that was mostly drowned out by more and more alarming developments of the coronavirus pandemic: As president, he would forgive undergraduate federal student loan debt picked up at public colleges for those
During the pandemic, Shelly Marshall knew she’d have to pivot quickly to stay afloat. Marshall co-owns Brooklyn-based Island Pops with her husband, Khalid Hamid, selling Caribbean-inspired ice cream. “You come to a shop, sit down and have an ice cream cone and hang out with friends — that wasn’t possible during Covid,” Marshall said. “Customers
Take the time you need to learn about retirement income strategies. Getty How should you deploy your retirement savings to generate lifetime income? That’s one of several critical decisions pre-retirees face as they approach retirement. To help you answer this question, let’s look at the “Retirement Income Scorecard” that I developed to estimate the amount
Hundreds of unemployed Kentucky residents wait in long lines outside the Kentucky Career Center for … [+] help with their unemployment claims on June 19, 2020 in Frankfort, Kentucky. Getty Images Even as the economy begins to reopen, the coronavirus pandemic has left tens of millions of Americans in financial trouble. More than 44 million
Ready to open on Monday, New York City real estate agent look to global prime cities, such as Hong … [+] Kong and London, which exited quarantine earlier, for clues. Getty As New York enters the second phase of reopening its economy on Monday, the real estate industry in the Big Apple is also readying
New York Gov. Andrew Cuomo speaks during the daily media briefing at the Office of the Governor of the State of New York on June 12, 2020 in New York City. Jeenah Moon | Getty Images More people will die if states that reopened their economies too quickly and are reporting spikes in cases don’t
The Slack Technologies application is displayed on an Apple iPhone in an arranged photograph taken in Arlington, Virginia, on Monday, April 29, 2019. Andrew Harrer | Bloomberg | Getty Images Check out the companies making headlines midday Friday: Slack — Shares of Slack Technologies dipped nearly 2% after Goldman Sachs downgraded the business messaging service to sell
1. Don’t underestimate the role of chance in life. It’s easy to assume that wealth and poverty are caused by the choices we make, but it’s even easier to underestimate the role of chance in life. The families, values, countries and generations we’re born into, as well as the people we happen to meet along
People walk past the U.S. Federal Reserve building in Washington D.C., the United States, May 21, 2020. Ting Shen | Xinhua via Getty Images Historically unique financial conditions brought on by the coronavirus have changed the way the Federal Reserve is stress-testing banks this year. In addition to the usual rigors that measure how well
Oliver Rossi If you inherited an IRA, think before you take that tax-favored $100,000 distribution. That’s because the relief the CARES Act offers investors who have individual retirement accounts and 401(k) retirement plans isn’t as generous to those who inherit these accounts, according to the American Institute of CPAs. The CARES Act provides several options
TOPLINE The market opened higher on Friday, but stocks cut gains and turned negative amid fears on Wall Street over a resurgence in coronavirus cases across the country. Stocks are set to end the week higher. Spencer Platt/Getty Images KEY FACTS The Dow Jones Industrial Average was down 0.4% by midday on Friday, while the
It should be a last resort, but it’s easier than ever to break into your nest egg if you’ve been … [+] hurt by the coronavirus pandemic. Getty The Internal Revenue Service’s official guidance on Covid-19-related 401(k) and Individual Retirement Account loans and distributions is out, and it expands the list of who can qualify
AFP via Getty Images Amid the widespread economic pain from COVID-19, count America’s city centers as top victims. After all, far fewer people now come into these places for work or play. Moreover, the shift toward more teleworking will continue after this pandemic – and thus have long-term effects on real estate. City centers may
Singapore on Friday eased restrictions further and reopened pockets of the economy that were suspended due to coronavirus — but retailers are not hopeful the move would do much to lift their already struggling businesses, according to an industry association. The Southeast Asian economy has been badly hit as measures — both overseas and domestically —
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