Akron, Ohio-based FirstEnergy Corp. agreed to pay $230 million to resolve federal charges in connection with an alleged bribery scheme involving a $1 billion public bailout for two nuclear power plants owned by a bankrupt subsidiary with municipal debt. Federal authorities charged the public utility holding company with conspiring to commit honest services wire fraud.
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Petr Toman / Shutterstock.com The Tokyo Olympics have proven to be one of the most durable events in all of sports. The Summer Games were nearly canceled in 2020, but the expensive and time-consuming decision to postpone them for a year instead eventually won the day. Then they were almost canceled again as a coronavirus
How a dog can function properly with a tail that is 350 times bigger than his body? by Egon von Greyerz of Gold Switzerland Investors may hope that the biggest financial experiment and debt bubble in history will last another 100 years. And they can pray that the currency system which has lost 98% of
Stone Ridge Asset Management, the alternative investment manager behind New York Digital Investment Group, has filed a new prospectus with the United States Securities and Exchange Commission, or SEC, to add Bitcoin (BTC) to its open-end mutual fund. The prospectus for Stone Ridge Bitcoin Strategy Fund appeared on the SEC website on Friday, though the
What Is an M&A Strategy? Transforming a small business into a large one, or scaling a business, occurs in one of two ways. Companies can grow their revenues and profits from within by cultivating and growing demand for their products and services, or they can acquire other companies. Key Takeaways An M&A strategy is one
In this article CYDY Young chemist working with chemical substances during scientific experiment in laboratory. skynesher | E+ | Getty Images Company: CytoDyn Inc. (CYDY) Business: CytoDyn is a late-stage biotechnology company. The company focuses on developing treatments for multiple therapeutic indications based on leronlimab, a novel humanized monoclonal antibody targeting the CCR5 receptor. Its
For the past 232 years, residents of Dulwich, a leafy neighbourhood in south-east London, have tolerated without complaint what is now the capital’s only toll road. A more recent move to restrict traffic in the area, however, has provoked bitter debate. Dulwich was one of 89 areas across England that installed car-free zones last year.
The lending businesses of large US banks are doubling down on wealthier customers, as well-to-do Americans borrow to buy second homes, invest in the stock market and potentially lighten their tax bills. The combined value of loans made by the wealth management arms of JPMorgan Chase, Bank of America, Citigroup and Morgan Stanley surpassed $600bn
Philadelphia-based Janney Montgomery Scott added three teams from Wells Fargo and Merrill Lynch across two states managing $1.4 billion in client assets, the firm said on Monday. “These are top teams and impressive hires,” recruiter Mark Elzweig, president of Mark Elzweig Company, says in an email to Financial Planning. “Many wirehouse advisors are attracted to
Sharing is Caring! From Birch Gold Group If you were awake at all this week, you caught glimpses of the stock market drama. Maybe you tuned it out? Here’s a quick recap: Monday. Huge sell-off, the worst one-day decline since October 2020. Tuesday: Big rebound recaptured 80% of Monday’s losses. Wednesday: Rally continues, Monday’s losses fully
Across the country, would-be first-time homebuyers are facing disappointment, as they realize the rapid rise in home prices has left them priced out of the market. Many house shoppers are losing bidding wars to cash buyers. Only about 549,000 homes were available for sale nationwide in June 2021, a number that is down 45% over
Amazon’s Payments Acceptance & Experience team is hiring a digital currency and blockchain expert to develop the company’s digital currency and blockchain strategy and product roadmap, including a launch strategy. “We’re inspired by the innovation happening in the cryptocurrency space and are exploring what this could look like on Amazon,” the company’s spokesperson said. Amazon
By Chris Farrell, Next Avenue You probably heard: Meghan McCain is leaving ABC ‘s “The View” after nearly four years. Among her reasons for quitting is that COVID-19 “has changed the world for all of us,” she told The Guardian. “It’s changed the way I’m looking at my life, the way I’m living my life, the
What bond-market guru Mohammed El-Erian said Friday was enough to make bond investors listen like they’re in an old E.F. Hutton commercial. “Inflation is not going to be transitory,” the chief economic adviser at Allianz SE said in an interview on Bloomberg TV. El-Erian likened it to his belief in 1999 that Argentina would default,
Silver moved lower on Friday and finished the week in the red down 1.94%. The decline in silver came in conjunction with a drop in gold prices. Both were impacted by the rise in the dollar. U.S. Yields moved higher despite a smaller than expected gain in the Markit PMI services, manufacturing and compositive index.
Are investors getting concerned that the Fed is going to take away the punch bowl? FULL SHOW NOTES AND LINKS HERE Bitcoin gets skipped over in investors’ rush to safe havens.Gold mining stocks have never been a better deal.Fiscal stimulus without monetary stimulus is no longer possible.Bitcoin has a sucker’s rally after getting comfortable below
While serious institutional interest in crypto is perhaps becoming more of an established trend than an emerging narrative, the focus of big-money players is usually on Bitcoin (BTC). However, assets like Ether (ETH) and decentralized finance (DeFi) are beginning to pique the attention of major investors. For Siam Commercial Bank (SCB), DeFi is a major
Although Canada does not receive the same kudos for innovation and technological development as the United States, it punches above its weight when it comes to emerging financial technology (fintech) companies. Here’s a look at five Canadian fintech companies that are making a name for themselves by providing innovative financial solutions for customers: Payfirma, Quandl,
US state authorities have opened a new front in the regulatory crackdown on the cryptocurrency business, taking aim at BlockFi, a company that has raised $14.7bn by offering interest-bearing crypto accounts. In recent days Texas, New Jersey and Alabama have alleged the accounts amounted to an unregistered offering of securities. New Jersey ordered the company
Record-breaking temperatures in countries across the world have dominated the headlines in recent years. Last month, searing heat in North America resulted in a Canadian record temperature of 49.6C in Lytton, British Columbia. Last year, Siberia experienced unprecedented temperatures of 38C inside the Arctic Circle. In 2019, heat records were smashed across Europe. The UK,
Like many of my colleagues, I came out of a large wirehouse environment. And I suspect, like many of you, I left that environment because I could not reconcile my need to do what was best for the client with the firm’s emphasis on product- and commission-driven transactions that may have met the suitability standard
After 2020’s humongous share gains, 2021 is proving a bit of a come down for Tesla (TSLA), with shares sitting 7% into negative territory, a disappointing showing compared to the S&P 500’s 16% uptick. Wedbush’ Daniel Ives puts the weak performance down to a trifecta of: “1) increasing EV competition, 2) China PR/safety issues negatively
In this article HON TWTR INTC SAM SNAP Pedestrians walk past Skechers shoes displayed outside of a store in San Francisco, California. Getty Images Check out the companies making headlines before the bell Friday: American Express – American Express gained 3.3% after reporting quarterly earnings of $2.80 per share. That beat the consensus estimate of
Mike Hambright is a real estate investor, mentor and coach, and is the Founder of FlipNerd.com and the Investor Fuel Mastermind. Take a moment and look back at your first job. For most of us, it was minimum wage or close to minimum wage, and we worked our butts off and were proud of the paycheck we
The Central Bank of Colombia has announced its involvement in the first blockchain bond pilot program in the country, with the participation of the Interamerican Development Bank (IDB) and Davivienda, a private commercial bank. The proof of concept will use the Lacchain blockchain platform developed by the IDB, which will handle the operative part of
By Kerry Hannon, Next Avenue Time to dispel the myth that midlife and older entrepreneurs (and employees) are set in their ways and baffled by technology. Those shibboleths are far from the reality I found when I checked in with a handful of the 20 entrepreneurs who I interviewed for my 2019 book, “Never Too Old
Municipals were steady in typical summer Friday style ahead of a less-than-robust new-issue calendar to end July. The U.S. Treasury 10-year ends 10 basis points higher than it started the week, but back to levels of a week ago, while the stock market rallied and earnings pushed them to all-time record highs Friday. Triple-A benchmarks
Editor’s Note: With so much market volatility, stay on top of daily news! Get caught up in minutes with our speedy summary of today’s must-read news and expert opinions. Sign up here! (Kitco News) – The gold market just can’t shake the fact that the U.S. central bank is looking to raise interest rates sooner
US car owners are being preyed upon by thieves, because South African mine owners are… by Doug French via Mises The local paper offered up this vague headline last week, “Car Part Thefts Up in Henderson in 2021, Police Say.” Most readers likely passed over the article. But, in the time it takes to read the piece,
In the past two decades, index and exchange-traded funds (ETF) have become some of the most popular forms of investing because they offer investors a passive way to gain exposure to a basket of stocks as opposed to investing in individual stocks which increases risk of loss. Since 2018, this trend has extended to the