Recent court documents filed in the bankruptcy cases of Voyager Digital and Celsius Network reveal the financial ruin potentially facing customers of both companies. “The money that my wife and I were hoping to use for our young daughter’s education in the future is now locked up,” Niraj, a Voyager customer, wrote in a statement […]
Continue ReadingMortgage rates have been steadily rising over the past year, and with the Federal Reserve’s latest rate hike, there likely won’t be a slowdown any time soon, according to one economist. The rise in interest rates “means that mortgage rates are going to continue to rise and that we’re going to see some pullback in […]
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Q2 GAAP Revenues of $42.7 million; Operating Revenues of $266.6 million Q2 GAAP Net Loss of ($142.2 million), Operating Adjusted EBITDA of $74.2 million Declares Quarterly Dividend of $1.00 per common share LOS ANGELES, July 28, 2022 /PRNewswire/ — B. Riley Financial, Inc. (NASDAQ: RILY) (“B. Riley” or the “Company”), a diversified financial services platform, […]
Continue ReadingSpotify (SPOT) surged on the heels of its Q2 earnings report with shares climbing more than 13% on Wednesday after the company reported a beat on both revenue and monthly active users. But one analyst says the stock surge was an “overreaction” given the platform’s profitability struggles. “While we believe there remains material user growth […]
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WASHINGTON, July 27 (Reuters) – The top U.S. consumer watchdog plans to scrutinize the use of cryptocurrencies for real-time payments and ramp up oversight of Big Tech companies as they expand into the traditional financial sector, its director told Reuters. The Consumer Financial Protection Bureau (CFPB) also will publish a report this fall on “buy-now, […]
Continue ReadingRenting a 50 inch TV or faux leather couch doesn’t appear to be top of mind with lower income consumers as inflation for everything eats into budgets. Shares of home goods rental outfit The Aaron’s Company crashed more than 25% pre-market on Tuesday after the company became the latest retailer to offer horrid guidance. The […]
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A new study has concluded that cryptocurrencies can complement traditional finance by acting as a ‘good alternative’ to the existing settlement processes. The study by the International Association of Money Transfer Networks (IAMTN) stated that through the blockchain technology that powers cryptocurrencies, remittances can be instant due to the ability to eliminate intermediaries like banks […]
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German Finance Minister Christian Lindner is currently at the center of controversy in German media over alleged conversations he had with the head of Porsche about government policy on climate-friendly cars. On Friday, German public broadcaster ZDF’s satirical news show “Die Anstalt” displayed a quote allegedly from Porsche boss Oliver Blume telling a company meeting in […]
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Discover Financial Services DFS reported second-quarter 2022 adjusted earnings of $3.96 per share, which beat the Zacks Consensus Estimate by 5.6%. However, the bottom line plunged 29% year over year. DFS’s revenues — net of interest expenses — amounted to $3,224 million, which declined 10% year over year. However, the top line beat the consensus […]
Continue ReadingWhether dodging taxes or legal peril, wealthy Americans often succeed in concealing assets from the government by hiding their money in offshore bank accounts. Research from the IRS and a group of economists last year found that the top 1% of earners in the U.S. neglect to report 20% of their income — and that […]
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