Author: Press Room
A startup looking to be Wall Street’s one-stop shop for onboarding new customers just raised $13 million.Footprint, which was featured on Business Insider’s up-and-coming fintechs list last year, announced its Series A on Tuesday. The round was led by QED Investors, and included investment from Index Ventures and Palm Tree Capital, among others.The startup aims to streamline the identification process for businesses and consumers, which is a pain point felt across Wall Street thanks to regulations that require firms to know to whom they are providing services, such as Know Your Customer (KYC). The problem is that each firm does…
I use Google Docs like a chaos gremlin: constantly and with a nihilistic approach to organization and labeling. I’d guess that 75% of my Google Drive is items called “Untitled.” I start new text documents all the time — whenever I want to take notes during a phone call, start drafting an article, jot down half a thought, or just copy down some text or a link I want to save to look at later.The result is a ton of half-written docs, sometimes completely blank or with just a few words — probably never to be reopened and most of…
There are two things that are guaranteed in life – death and taxes. Actually, no – I take that back. There are three things that are guaranteed in life. Death, taxes, and a bull market in defense spending. The world isn’t get safer, and governments don’t ever want to spend less when it comes to defense. If anything, with technological advancements growing exponentially, why not specifically invest in the intersection of defense and technology? That’s what the Global X Defense Tech ETF (NYSEARCA:SHLD) attempts to do. SHLD is a new fund, having launched on September 11, 2023, as the first…
Unlock the US Election Countdown newsletter for freeThe stories that matter on money and politics in the race for the White HouseDonald Trump’s defence rested in the Manhattan “hush money” case on Tuesday without him taking the stand, sending the historic first criminal trial of a former US president into its final stages.The decision — an apparent climbdown by Trump, who had repeatedly vowed that he would testify to clear his name — came at the end of more than four weeks of evidence from prosecutors, during which they called 20 witnesses including Stormy Daniels, the porn actor allegedly paid…
Key Republican senators sharply criticized Supreme Court Justice Samuel Alito after news reports showed an upside-down American flag – a symbol used by some supporters of former President Donald Trump who challenged the legitimacy of Joe Biden’s 2020 victory – flying outside his home in 2021. Such criticism of a conservative justice from high-ranking GOP senators is extremely rare and a sign of how unusual the controversy is. In a brief interview with CNN, Senate Republican Whip John Thune, one of the contenders vying to replace retiring Senate Minority Leader Mitch McConnell, called the flag a “bad decision.” “I don’t know how you explain that,”…
One of the many lessons we should have learned from the Covid-19 pandemic is the cost to older adults of loneliness and social isolation. While nearly 900,000 older adults died from the virus, tens of thousands were sickened and may have died from the isolation the pandemic caused. But what have we learned from that tragic experience? Whether older adults are living in their long-time homes, senior living communities, or nursing homes, we continue to struggle to keep them engaged with others. A Widespread Problem The Covid tragedy focused attention on the problem. And now, several organizations are pursuing solutions.…
Gen Z and millennial homebuyers are struggling to buy homes on their own. About 36% of younger buyers plan to receive a cash gift from their family to help with the down payment on a home, a Redfin study found. The percentage of millennials getting help from their parents has gone up in the last few years. In 2019, 18% of millennials used a cash gift for their down payment and in 2023, that rose to 23%.It’s not just cash gifts Gen Zers and millennials are using. Some plan to use their inheritance for a down payment and 13% plan…
The Biden administration will release 1 million barrels of gasoline from reserves held in the Northeast to reduce prices at the pump ahead of the Fourth of July holiday and summer driving season.”By strategically releasing this reserve in between Memorial Day and July 4th, we are ensuring sufficient supply flows to the tri-state [region] and northeast at a time hardworking Americans need it the most,” Energy Secretary Jennifer Granholm said in a statement Tuesday.Gasoline futures have rallied 19% this year as oil prices have risen due to OPEC cutting production and fears the Israel-Hamas war could spark a broader Middle…
Most Americans don’t think they need to be millionaires in order to achieve financial success.Fewer than 20% of Americans define being “financially successful” as “being a millionaire,” according to Bankrate’s 2024 Financial Success survey.Here’s how that breaks down by generational cohort:Gen Z (ages 18 to 27): 16%Millennials (ages 28 to 43): 12%Gen X (ages 44 to 59): 13%Baby boomers (ages 60 to 78): 12%One reason for this may be because $1 million doesn’t go as far as it used to due to the depreciating value of money over time, says Sarah Foster, Bankrate’s principal U.S. economy analyst.”Millionaires might not be…
For well-paid financial advisors, patience can pay. At many Wall Street banks, advisors set aside part of their income, which grows tax-free with interest, and collect it in retirement at a lower tax rate. This is a boon for banks, too, as they report lower compensation costs to their shareholders.However, advisors usually have to forfeit this money if they leave for another employer before an agreed-upon number of years. Some fight back and sue for their due. For Ajamie LLP, a Houston law firm with 11 attorneys, taking on banks with billion-dollar war chests is becoming a booming business.”If I…
