Jack Dorsey, chief executive officer of Twitter Inc. and Square Inc., speaks during an Empowering Entrepreneurs events at Ryerson University in Toronto, Ontario, Canada, on Tuesday, April 2, 2019. Cole Burston | Bloomberg | Getty Images A remarkable changing of the guard is happening in finance. This week, the market capitalization of fintech payments firm Square exceeded
Month: September 2020
The United States’ richest Big Tech executives lost a collective $25 billion to their net worth after Thursday’s market sell-off, according to data compiled by CNBC’s Robert Frank. The S&P 500 tech sector closed down 5.8% Thursday, dragging markets in the red. The dramatic drops shaved several billions off the net worth of some of
You knew this was coming. The market internals had been flashing warning signs for a couple weeks: very few new highs, very sloppy advance/decline line, low short interest, and a lot of talk about FOMO (Fear of Missing Out) and TINA (There Is No Alternative). All signs of frothiness. So what is this? Is this
People pass by The New York Stock Exchange on Aug. 3, 2020. Angela Weiss | AFP | Getty Images You may be tempted to revisit your retirement investing strategy now that stocks are falling, but history shows those who get the best return on their money stay the course. The Dow Jones Industrial Average dropped more
David is CEO of Move, Inc./realtor.com. Realtor.com makes buying, selling, and living in homes easier and more rewarding for everyone. getty Before I joined realtor.com, I thought of online home search the way most people probably do — a way to look at pretty pictures of homes, dream about where my family and I might live, and
Fixed Index Annuities Caveat In this discussion of fixed index annuities, which use to be called equity indexed annuities, I am mostly making an implicit assumption that the annuity is competitively priced. Internal costs reflect was is needed to support the guarantees provided by the insurance company and to keep the company reasonably profitable. But
getty The feds have made another arrest tied to Paycheck Protection Program (PPP) loan fraud. This time, it’s an attorney facing charges. Jae H. Choi, who has an office in Fort Lee, New Jersey, has been accused of fraudulently obtaining nearly $9 million in PPP loans. Choi has been charged with three counts of bank
In this May 4, 2020 photo provided by the University of Maryland School of Medicine, the first patient enrolled in Pfizer’s COVID-19 coronavirus vaccine clinical trial at the University of Maryland School of Medicine in Baltimore, receives an injection. University of Maryland School of Medicine | AP Pfizer could have results from its late-stage coronavirus
People wait outside a Bank of China branch in Beijing on July 11, 2014. GREG BAKER | AFP | Getty Images Banks in China are likely to record greater declines in profits in the second half of this year as bad loans are set to rise further as a result of the coronavirus pandemic, according
Ever thought about going to Antarctica for the day? It’s possible through sightseeing tours by Antarctica Flights. The company operates flights that depart from Australia and fly one of 19 routes over the ice-covered continent. Flights depart and land at the same airport, making this one trip that actually is more about the journey than
SpaceX deploys 60 Starlink satellites in orbit. SpaceX SpaceX gave an update on early tests of its Starlink satellite internet network, which showed speeds capable of playing online video games and streaming movies. Starlink is the ambitious plan by Elon Musk’s company to build an interconnected network of about 12,000 small satellites in low Earth orbit.
John Lund/Marc Romanelli | Getty Images For many workers, a traditional retirement is not part of their plans. Among baby boomers still in the workforce, 59% expect to keep working into retirement, a new study from Voya Financial shows. For Generation X, that share is 60% and for millennials, 49%. Overall, 54% of all workers
A ban on evictions is meeting resistance from rental housing providers. getty An eviction moratorium issued Tuesday by the Centers for Disease Control and Prevention is drawing a chorus of disapproval from multifamily housing advocates who say the action is overly burdensome and interferes with their own obligations to provide safe and affordable housing. The
If you’re deciding whether to pay off your mortgage in retirement, carefully consider all the … [+] factors. getty Some pre-retirees and retirees might be wondering if it makes any sense to pay off the mortgage on their home in the current low-interest environment. As it is with many seemingly simple questions, the answer is
Close-up of Conservation easement with pen getty The Senate Finance Committee report- Syndicated Conservation-Easement Transactions – released on August 25 is very heartening. It exposes tax shenanigans that threaten an otherwise benign tax incentive. At least it is as benign as any tax incentive can be. The report is a great read. I will give
Davinson Sanchez and Serge Aurier of Tottenham Hotspur look on as Jamie Vardy of Leicester City jumps for the ball during the Premier League match on July 19, 2020 in London, England. Tottenham Hotspur FC | Tottenham Hotspur FC | Getty Images England’s Premier League has terminated a major contract with Chinese streaming service PPTV,
A pedestrian passes in front of the New York Stock Exchange. Michael Nagle | Bloomberg | Getty Images U.S. stock futures fell on Thursday night following a massive decline sparked by tech shares during regular trading. Dow Jones Industrial Average futures dipped 101 points, or 0.4%. S&P 500 futures were down by 0.4% and Nasdaq
Thanks to Amazon’s success, CEO Jeff Bezos is the richest person in the world, worth $207 billion, according to the Bloomberg Billionaires Index. But when he started Amazon as an online bookseller in 1994, Bezos thought it was likely that his business would fail. “I thought there was a 30% chance that we might build a successful
A stock trader wearing a mask walks near social distancing signs the day a new IPO is launched at the New York Stock Exchange as the city continues Phase 4 of re-opening following restrictions imposed to slow the spread of coronavirus on August 27, 2020 in New York City. The fourth phase allows outdoor arts
Carlos Ponce joins others at a July 16 demonstration in Miami Springs, Florida, asking senators to support the continuation of unemployment benefits. Joe Raedle | Getty Images The fight over state and local funding “Both sides have dug in on their philosophical grounds,” when it comes to supporting state and local governments, said Mark Mazur,
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