Facebook Instagram Twitter Youtube

Peter Russell

Vanguard shifting prime money market fund to safer U.S.-backed investments

5 years ago

Next month, Vanguard will transition its $125.3 billion Prime Money Market Fund into a government money market fund and rename it the Vanguard Cash Reserves Federal Money Market Fund.
Prime fund investors will be eligible for lower fees, as Vanguard will reduce the investment minimum for its Prime Admiral Shares from $5 million to $3,000, effective Aug. 27.
Vanguard isn’t alone. Northern Trust also closed a money market fund earlier this year.

Pelosi vows to get Trump’s tax returns from Treasury if Biden wins: ‘The world will see what the president has been hiding’

5 years ago

House Speaker Nancy Pelosi vowed that Congress will get President Donald Trump’s income tax returns from the next Treasury Department secretary if Democratic nominee Joe Biden is elected to the White House.
Trump, who is seeking reelection, has refused to release his income tax returns to the public, despite other presidents having done so for the past four-plus decades.

IRS to send catch-up payments for missing stimulus money

5 years ago

As the government rushed out stimulus checks to millions of Americans this spring, some were disappointed to find the payments fell short of what they expected.
Now, the IRS is making catch-up payments. This week, it added 50,000 people who had money withheld because of their spouse’s unpaid child support to the list of people who will get catch-up payments.

Health start-up backed by Groupon co-founder joins the fight against Covid-19

5 years ago

Tempus was formed to help identify cures for a variety of illnesses, from cancer to depression and now Covid-19.
The health-care company conducts genomic tests and analyzes clinical data in a patient’s electronic health-care records, anything from medical imaging to a doctor’s handwritten notes.
Former FDA Commissioner Scott Gottlieb is on the Tempus board of directors, and the company is valued at $5 billion by investors.

There are a lot more losing than winning stocks in the S&P 500, Jim Cramer says

5 years ago

“When you get down into the weeds of this market, what you see is that there are a lot more losers than there are winners,” CNBC’s Jim Cramer said.
“That’s the nature of the Covid economy, and now that there’s no one in Washington willing to play gardener, maybe it’s only a matter of time before the weeds overrun the entire patch,” the “Mad Money” host said.
“We have a bizarre situation where some companies are doing very well,” Cramer said, “but a lot of other companies are getting crushed.”

Indonesia has a ‘surprising’ way to fund a larger government deficit — but its currency suffers

5 years ago

Indonesia’s currency, the rupiah, is the worst-performing Asian currency so far this year partly due to investor concerns over its central bank helping to finance a larger government deficit.
The “debt burden sharing” arrangement involves the central bank buying 397.6 trillion Indonesian rupiah ($26.97 billion) worth of government-issued bonds to fund increased spending to fight the coronavirus.
The program has been likened to an unconventional tool called quantitative easing, which has until recently been used only by major central banks in developed economies such as the U.S. and Europe.
Indonesia, Southeast Asia’s largest economy, recorded its first economic contraction in more than two decades as it struggles to contain the coronavirus outbreak.

Digital loan start-up Blend jumps to $1.7 billion valuation as mortgage demand surges

5 years ago

Digital lending start-up Blend raised $75 million in fresh funding at a valuation of almost $1.7 billion, a jump of more than 70% from its previous round a year earlier, CNBC has learned.
Refinance application volumes jolted more than 1,000% higher in March, and purchase applications climbed by more than 100% every month since May, according to company figures.
The Series F funding round was led by Canapi Ventures, a fintech VC fund that is backed by the banking industry and led in part by Gene Ludwig, a former U.S. regulator who founded the Promontory Financial Group.

Fintech app Robinhood is driving a retail trading renaissance during the stock market’s wild ride

5 years ago

The start-up, launched in 2013 with a free-trading model, has been mimicked by incumbent brokerage firms including Charles Schwab, Fidelity and TD Ameritrade.
Retail brokers are seeing record new account openings this year despite the pandemic.
In May, Robinhood brought in $280 million of fresh capital, boosting its valuation to $8.3 billion, even after its trading technology stumbled badly during the coronavirus crash.

Lyft reports dramatic revenue drop of 61% but points to uptick in rides in July

5 years ago

Ride-hailing company Lyft reported results for the period ending June 30, 2020, its first full quarter during the Covid-19 pandemic.
The company just beat analysts’ expectations with losses per share of 86 cents (adjusted) and revenue of $339 million.
Wall Street was expecting losses of 99 cents per share (adj.) and revenue of $336.8 million for the quarter, according to a consensus of analysts surveyed by Refinitiv.

Moving Markets
  • State Filing Number: 7590320
  • 246 5th Avenue, New York, NY 10001, United States of America.

Follow us

Facebook Instagram Twitter Youtube
Facebook
Twitter
LinkedIn

menu

Weekly Newsletter