Britain's $33 billion banking app Revolut has swung into profit while still trapped in banking license limbo – Fortune
British banking app Revolut finally turned things around last year after years of losses, nearly doubling revenue to 1.8 billion pounds ($2.27 billion) and posting pre-tax profits of 438 million pounds ($553 million). The news will come as good news to top fintech investors, including Index Ventures, SoftBank Vision Fund 2 and Balderton Capital, which […]
An Essay Inspired by the Happy News that the Human Population Has Reached Eight Billion
Estimated Reading Time: 5 minutes The late, great Julian SimonJulian Simon spent decades battling intellectually against biologists and zoologists who were convinced that human population growth, if governments did not hold it in check with draconian measures, would spell doom for multitudes of humans. (I might as well have used the present tense above, because […]
Jeff Bezos to sell $5 billion in Amazon stock after shares hit all-time high
Mike Murphy, founder and managing partner at Rosecliff, will share his insights on the stock after trading opens on Tuesday. Amazon founder Jeff Bezos said on Tuesday he plans to sell about $5 billion worth of stock in the company, the same day the e-commerce giant’s shares hit an all-time high. Bezos disclosed his plans […]
Chicago pension debt climbs to $37.2 billion – Chicago Tribune
Chicago’s pension debt topped $37 billion last year, but city leaders on a special task force convened by Mayor Brandon Johnson more than a year ago to address the problem have focused on one area: how to ensure that benefits to certain pensioners are at least as good as Social Security. City debt rises to […]
Medicare pushes new payment rule after alleged $3 billion fraud scheme – The Washington Post
Federal regulators are calling for an overhaul of how Medicare pays health care providers after a $3 billion scheme to defraud the agency became one of the largest in history. Over the course of more than a year, about a dozen companies used the personal information of Medicare recipients and doctors to submit bills to […]
US announces more than $2 billion package for Ukraine
Defense Secretary Lloyd Austin announced the $2.3 billion aid package ahead of a Ukrainian security council meeting. meeting He met with his Ukrainian counterpart on Tuesday. The package includes key air defense interceptor missiles and other weapons, and a Pentagon spokesman said more details about the package would be released soon. Defense Secretary Austin met […]
Car dealership losses from CDK software outage could soon reach $1 billion, study finds
Direct losses for car dealerships affected in recent weeks by an outage at major software provider CDK Global could total $1 billion if the issue is not resolved soon, new data shows. Michigan-based Anderson Economic Group estimates that if the problems continue into the weekend, it will be the third week of shutdowns, and that […]
Car dealership losses from CDK software outage could reach $1 billion, study finds
Ryan Payne, President of Payne Capital Management, appeared on “Mornings with Maria” to explain the latest data on the auto industry. Direct losses for car dealerships affected in recent weeks by an outage at major software provider CDK Global could total $1 billion if the issue is not resolved soon, new data shows. Michigan-based Anderson […]
NYC Council passes $112.4 billion budget, with 3 dissenting votes over ‘NYPD pet projects’
The New York City Council passed the massive $112.4 billion spending plan on Sunday by a vote of 46-3, with three Democratic Socialist council members voting no. Mayor Eric Adams, who negotiated with council leaders, praised the measure, which was opposed by only three council members: Councilmembers Tiffany Caban, Shahana Hanif and Alexa Aviles. The […]
Judge says Visa, Mastercard can likely handle swipe-fee settlement bigger than $30 billion
Financial experts talk about “serious” consequences of retail credit cards. A federal judge on Friday Card Issuers Visa and Mastercard She is likely to be able to withstand a “significantly larger” settlement with retailers who claim they overpaid swipe fees than the $30 billion settlement offer she rejected last week. U.S. District Judge Margo Brody […]