Finance
Garage-door maker employees get cash reward in takeover as private equity tests ownership model
In the otherwise-sleepy town of Arthur, Illinois, this week brought a life-changing surprise for hundreds of workers at locally based garage-door maker, C.H.I. Overhead Doors. C.H.I.’s private equity owner, KKR, is selling the company to steel manufacturer Nucor in a $3 billion deal. The sale marks one of KKR’s largest returns in recent history, generating […]
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Stocks making the biggest moves midday: Walmart, Citigroup, Paramount and more
Exterior view of a Walmart store on August 23, 2020 in North Bergen, New Jersey VIEW press | Corbis News | Getty Images Check out the companies making headlines in midday trading. Walmart — Shares fell about 10.5% after the big-box retailer reported quarterly earnings that significantly missed Wall Street’s expectations. Walmart posted adjusted first-quarter earnings […]
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Robinhood to let users hold their own crypto and NFTs as it reaches for growth beyond stock trading
Vlad Tenev, CEO and co-founder Robinhood Markets, Inc., is displayed on a screen during his company’s IPO at the Nasdaq Market site in Times Square in New York City, U.S., July 29, 2021. Brendan McDermid | Reuters Robinhood is handing over the keys to some of its customers’ crypto. The trading and investing company announced […]
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22. Tala
Founder: Shivani Siroya (CEO)Launched: 2014Headquarters: Santa Monica, CaliforniaFunding: $362.1 millionValuation: $800 million (PitchBook)Key technologies: Machine learningIndustry: FintechPrevious appearances on Disruptor 50 List: 2 (No. 20 in 2021) Fintech start-up Tala is continuing its mission to improve the financial health of underserved and underbanked populations. Founded in 2011 by Shivani Siroya, the Santa Monica-based company uses its mobile […]
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Coinbase to slow hiring amid plunge in cryptocurrencies and tech stocks
Coinbase reported a 27% decline in revenues in the first quarter as usage of the platform dipped. Chesnot | Getty Images Coinbase has become the latest tech company to warn of a slowdown in hiring. The crypto exchange told staff Tuesday it would slow hiring and reevaluate its headcount, reversing earlier plans to triple its […]
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Citigroup shares jump 7% after Warren Buffett reveals a near $3 billion stake in the struggling bank
Berkshire Hathaway Chairman and CEO Warren Buffett. Andrew Harnik | AP The 91-year-old “Oracle of Omaha” scooped up Citi shares while they have been underperforming the rest of the financial sector in the past 12 months. The stock is down nearly 40% while the Financial Select Sector SPDR Fund is off by 12% over the […]
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Investor interest in equity and crypto-focused funds picking up despite the sell-off, Tifin CEO says
A Wall Street subway station near the New York Stock Exchange (NYSE) in New York, on Monday, Jan. 3, 2022. Michael Nagle | Bloomberg | Getty Images Search interest for stock funds remains strong despite the recent market sell-off, even in areas of the market that have cooled off significantly, according to trends seen by […]
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Stocks making the biggest moves in the premarket: Walmart, Home Depot, Citigroup and more
Take a look at some of the biggest movers in the premarket: Walmart (WMT) – Walmart slumped 7% in premarket trading after missing bottom-line expectations for the first quarter. The retail giant earned $1.30 per share, 18 cents a share below estimates as inflationary pressures offset the positive impact of better-than-expected sales. Home Depot (HD) […]
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Home affordability at 2007 bubble levels, but crash is unlikely: Blackstone’s Joe Zidle
A major Wall Street firm is drawing a striking parallel to the housing bubble. Blackstone’s Joe Zidle calls homes almost as unaffordable as the 2007 peak. Yet, he believes a crash is unlikely due to a major difference: Most owners aren’t using their homes like an ATM. “That caused so many people to go upside […]
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Some factories might leave China, but in the grand scheme of things it doesn’t matter much
China still holds the cards for global supply chains, whether or not Covid lockdowns frustrate businesses in the near term. An employee works on the production line of the screens for 5G smartphones at a factory on May 13, 2022 in Ganzhou, Jiangxi Province of China. Zhu Haipeng | Visual China Group | Getty Images […]
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