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Activist short seller accuses Cash App of facilitating fraud

Mar 23, 2023Mar 23, 2023 Editor Desk

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Spread the love Comment on this story Comment Shares of Jack Dorsey-led Block tumbled Thursday after an activist short seller released a report accusing the fintech company of inflating its user numbers and facilitating fraudulent transactions. Block, previously known as Squareis a digital payments company that offers cash register services at businesses like coffee shops and farmers-market booths. But it also offers mobile transactions through Cash App. Hindenburg Research, a firm that made waves for betting against Adani Group in Januaryalleged in a new report that Block has misrepresented to…

Movie theater stocks pop after report says Apple plans to spend $1B a year on releases

Mar 23, 2023Mar 23, 2023 Editor Desk

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Spread the love Moviegoers line up at the AMC Loews Lincoln Square box office on March 05, 2021 in New York City. Michael Loccisano | Getty Images Cinema stocks jumped Thursday after a report said Apple plans to spend $1 billion a year on theatrical film releases. The investment is part of the tech company’s efforts to raise its profile in Hollywood and lure subscribers to its streaming service, Apple TV+, Bloomberg reportedciting people familiar with the matter. Typically, Apple has released films directly to its streaming platform or allowed…

Italy vs England live stream: Watch Euro Qualifying for free | Digital Trends

Mar 23, 2023Mar 23, 2023 Editor Desk

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Spread the love Italy vs England should be quite a thrilling Euro 2024 qualifying match given the two teams are both some of the best in Europe. If you want to watch the action unfold live, you need to find a streaming service that offers Fox Sports as that’s where all the Euro 2024 qualifying is happening. To help you out, we’ve picked out the best ways to watch including a way to watch the Italy vs England live stream for free, legally of course. Watch the Italy vs England…

After Adani, Hindenburg Targets Jack Dorsey’s Payments Firm Block for ‘Facilitating Fraud’

Mar 23, 2023Mar 23, 2023 Editor Desk

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Spread the love ack Dorsey stepped down as Twitter CEO on November 2021 (File Photo: Reuters) Following publication of the report, Block’s stock tumbled up to 22 percent in early trading on Wall Street before recovering slightly Two months after accusing India’s Adani Enterprises of fraud, US investment group Hindenburg Research launched a new salvo Thursday, this time against Jack Dorsey’s mobile payments firm Block, saying it “widely overstated” its user base. Following publication of the report, Block’s stock tumbled up to 22 percent in early trading on Wall Street…

French airports, schools and oil refineries hit by national strike over pension age increase | CNN Business

Mar 23, 2023Mar 23, 2023 Editor Desk

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Spread the love Paris CNN — French transport networks, oil refineries and schools were hit by widespread disruption Thursday as workers staged a national strike to protest an increase in the retirement age that was pushed through parliament without a vote. Though sporadic demonstrations had popped up in Paris and other cities after the French government forced the bill through last week, Thursday marked the first day of coordinated action since then. It is the ninth day of strikes since the bill was introduced in January. Only two out of…

All you need to know about interest rates and how they affect you

Mar 23, 2023Mar 23, 2023 Editor Desk

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Spread the love For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails The Bank of England has raised interest rates for the eleventh consecutive time today as it continues trying to tame sky-high inflation. Policymakers at the UK central bank have to raise rates by a further 0.25 per cent, bringing the base rate to 4.25 per cent. At 10.4 per cent, inflation – or rising prices – are still at one…

India, UAE mull options to curb foreign exchange rate risks on rupee trade – Times of India

Mar 23, 2023Mar 23, 2023 Editor Desk

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Spread the love NEW DELHI: India is looking to work out a mechanism to hedge exchange rate risks in the proposed rupee-based trade with the United Arab Emirates to limit losses for exporters, an India official told reporters on Thursday. India and the UAE representatives are likely to meet in May to review the progress on their Comprehensive Economic Partnership Agreement and discuss settling payments for trade in rupees, which is yet to take off, the official said, asking not to be identified before a final decision is taken. The…

Bank of England raises interest rate to highest for 14 years

Mar 23, 2023Mar 23, 2023 Editor Desk

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Spread the love The Bank repeated language that further rises would be required “if there were evidence” of more inflationary pressures. The Bank’s discussions suggested that some of that pressure, for example from wage growth, was declining even after Wednesday’s shock inflation number. The next meeting in May is now a key point, where new quarterly forecasts for the economy and inflation could underpin a pause in rate rises. Source link

Wages surged for lowest-paid Americans after the pandemic

Mar 23, 2023Mar 23, 2023 Editor Desk

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Spread the love The COVID-19 pandemic stopped the U.S. economy in its tracks, driving unemployment to double-digits and shutting employers from coast to coast. But it also had another effect for some Americans: Wages for low-paid workers surged at their fastest rate in 40 years, interrupting a decades-long period of stagnation. Between 2019 and 2022, the lowest-paid saw their real income grow 9%, according to a new analysis from the Economic Policy Institute. Even accounting for inflation, income for workers in the bottom 10% grew faster than in any recovery…

European bank shares fall as crisis leaves its mark

Mar 23, 2023Mar 23, 2023 Editor Desk

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Spread the love Banking shares have slipped in Europe as the instability that surged through the global banking system prompts investors to adjust to more challenging economic and lending conditions ahead. The Federal Reserve on Wednesday indicated it was on the verge of pausing further increases in borrowing costs after the collapse of two United States lenders earlier this month triggered worries of contagion throughout the banking system. Fed Chair Jerome Powell said the banking industry stress could trigger a credit crunch with “significant” implications for a slowing US economy.…