Financials

Uber Earnings Pop on Increased Ridership

Uber just posted a five-star quarter. As other tech titans take a beating this earnings season, the perpetually stalled-out rideshare leader on Tuesday reported one of its strongest earnings results ever — due to a massive increase in ridership. It…

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There Are A Lot More People Worth $30 Million Now Than There Were Last Year

What kind of party do you throw when you’re officially ultra-wealthy? Plenty of people found out in 2021, when more than 56,000 people worldwide broke the coveted $30 million threshold that takes them from rich to really, really rich, according…

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Canada’s TD Bank Adds to Its Burgeoning US Empire with $13 Billion Deal

Toronto’s Bay Street is a 500-mile drive and a border crossing away from New York’s storied Wall Street district, where bright American flags hang from the iconic Stock Exchange. But in Canada’s financial capital, among flags with red and white…

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FTC Pressure May Kibosh the Biggest Semiconductor Deal in History, Lockheed Martin Up Next

Defense contractor Lockheed Martin is not used to being in the crosshairs — normally, its job is to make the crosshairs. On Tuesday, all that changed when the Federal Trade Commission (FTC) turned its scope on the missile manufacturer and…

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Goldman Sachs’ Profits are Weighed Down by Big Bonuses and Subpar Trading

“It was the best of times, it was the worst of times.” On Tuesday, Goldman Sachs revealed 2021 was easily the most profitable year in its history, for which executives are swimming in record bonus payouts. But the world’s most…

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Amazon End Game: How Will Its Battle with Visa Pan Out

The battle between Amazon and Visa has begun in earnest. With Amazon vowing to stop accepting payments on UK-issued Visa cards beginning on January 19, the two Goliaths are locked in a thorny war that this week has analysts scratching…

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Big Daycare Chains Scoop Up Closed Businesses

Add child-care to the list of industries crawling back from the pandemic. Over 20% of child-care center capacity in the US has closed since March 2020, and The Wall Street Journal reported this week that more than half of those…

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Robinhood Taps Lucrative Options Market

For financial service firm Robinhood, it’s abundantly clear which of the two services it offers is more lucrative. In its third-quarter earnings call last Tuesday, the company reported options deals rang up nearly half its net revenue, despite accounting for…

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In Wall Street Earnings Season, Costs Are Weighing Heavily on the Big Banks

America’s big banks report earnings this week — JPMorgan on Wednesday, then Bank of America, Citigroup, Morgan Stanley and Wells Fargo on Thursday, and finally Goldman Sachs on Friday. As a group, they’ve made record profits throughout the pandemic and…

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Coinbase CEO Calls the SEC “Sketchy” as Regulator Threatens to Sue Over Crypto Lending

Well, at least he didn’t mince any words. After the Securities and Exchange Commission threatened to sue his company over plans to launch a cryptocurrency lending program, Coinbase CEO Brian Armstrong went on an all-out offensive Wednesday, accusing the regulator…

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JPMorgan Takes Over Volkswagen’s Payments Platform

America’s biggest bank now owns the keys to its very own Volkswagen…payment software. JPMorgan Chase announced Wednesday it is buying a 75% majority stake in Volkswagen Payments, extending an acquisition spree designed to stem the pains of low interest rates…

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Extra Credit: The Shifting World of Private Credit Markets

Tale of the Tape: Warren Buffett and Cathie Wood

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