Tag: FX

Share to FacebookShare to TwitterShare to LinkedinTopline The U.S. dollar hit a two-decade high on Monday, responding to Federal Reserve Chairman Jerome Powell’s comments that the central bank will continue to tackle inflation “forcefully”—signaling further interest rate hikes. The value of the U.S. dollar hit a 20-year high on Monday morning. SOPA Images/LightRocket via Getty…

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Share to FacebookShare to TwitterShare to LinkedinTopline The Secret Service told reporters Friday it recovered $286 million in Covid-19 relief loans meant for small businesses that were stolen by fraudsters, according to multiple outlets, adding to the total of billions of dollars in pandemic relief funds that investigators say were fraudulently obtained. Attorney General Merrick…

Sports’ all-time earnings leaders include two soccer stars, a tennis pro, an NBA forward, a prize fighter and a golf legend. Phil Mickelson’s rumored $200 million contract with the Saudi-backed LIV Golf tour is the latest, and largest, example of the value that sports leagues, brands and even sovereign wealth funds see in aligning themselves…

Share to FacebookShare to TwitterShare to LinkedinTopline The Euro fell below parity with the U.S. dollar on Monday for the second time this year as the Eurozone continues to face rising inflation while it prepares for a potential energy crisis this winter amid concerns of Russia squeezing supply of natural gas. The value of the…

Retail traders are obsessed with meme stocks again as volume for shares of Bed Bath & Beyond  (BBBY) , AMC  (AMC)  and GameStop  (GME)  are ramping up. The catalyst for the recent surge in these stocks is because Ryan Cohen, chairman of GameStop, said he plans to sell his stake in Bed Bath & Beyond.…

A really bad day at a once high-flying Silicon Valley startup just a got a whole lot worse for many (now former) employees. Robinhood  (HOOD) – Get Robinhood Markets Inc. Report, the troubled brokerage that attracted the attention of Gen Z investors, can not catch a break and is laying off 23% of its employees.…

Share to FacebookShare to TwitterShare to Linkedin The IRS is looking to get more efficient in collecting taxes from crypto trading getty What Happened The Infrastructure Act passed by the U.S. Congress in 2021 brought cryptocurrency exchanges under the controversial “broker” definition and subjected them to the IRS information reporting regime. As a result, starting…

PayPal’s crypto offering could be facing its last days if activist hedge fund Elliott Management has its say. The hedge fund recently took a stake in the beleaguered payments behemoth, according to the Wall Street Journal. The amount of the stake and what Elliott paid was not disclosed. Elliott could encourage PayPal to eliminate its crypto offering…

Share to FacebookShare to TwitterShare to Linkedin Guillermo Rauch, founder and CEO of Vercel, one of more than 300 immigrant-founded billion-dollar … [+] companies. Vercel Tomas Gorny grew up in Poland under communism. But after moving to the U.S. and taking odd jobs like washing dishes and saving money from small ventures, he cofounded the…