Crypto Corner Episode 428: Grayscale Investments Approved to List Shares on OTC for BCH and LTC, Robinhood Postpones UK Expansion
Point Roberts, WA and Delta, BC - July 22, 2020 (Investorideas.com Newswire) Investorideas.com, a leader in crypto and blockchain investing news brings you today's edition of the Crypto Corner podcast and commentary on what's driving cryptocurrency stocks and the crypto market.Listen to today's Crypto Corner Podcast:https://www.investorideas.com/Audio/Podcasts/2020/072220-CryptoMarket.mp3Crypto Corner Episode 428: Grayscale Investments Approved to List Shares on OTC for BCH and LTC, Robinhood Postpones UK ExpansionSHARE PODCAST:Get the Crypto Corner Podcast on iTunesGet the Crypto corner on Sp...
US Bancorp sets aside another $1.7 billion for expected coronavirus-related defaults
MINNEAPOLIS — U.S. Bancorp has put aside another $1.7 billion to cover potential loan defaults, another sign that the nation’s biggest banks expect to see significant economic shocks in the months ahead due to the coronavirus pandemic.The nation’s fifth-largest bank’s increase to its provision for credit losses in the second quarter comes on top of nearly $1 billion it set aside last quarter for the same purpose as the pandemic was just getting started.Earlier this week, three of the nation’s biggest banks — JPMorgan Chase, Citigroup and Wells Fargo — said they had also stockpiled nearly $30 b...
Star Tribune (Minneapolis)
GoHealth raises $914 million through IPO and plans to expand its Medicare offerings
CHICAGO — GoHealth, an online health insurance marketplace, raised $914 million through an initial public offering Tuesday, but shares of the Chicago-based company fell 7.3% on Wednesday’s first day of trading.The company will use the funds raised through the IPO to expand, said Brandon Cruz, co-founder and chief strategy officer.The company’s IPO of 4.6 million shares was priced at $21 a share, higher than the expected range of $18 to $20 a share. Shares closed at $19.46 a share Wednesday. GoHealth is trading under the ticker GOCO.Founded in 2001, GoHealth uses data to identify potential cust...
Joe Biden, Barack Obama and others targeted in massive Twitter hack asking victims to send money to Bitcoin account
Presidential hopeful Joe Biden and former President Barack Obama were just a few of many high-profile movers and shakers to have their Twitter accounts hacked Wednesday in an elaborate cryptocurrency scam.“I am giving back to the community,” read a tweet supposedly posted by Biden. “All Bitcoin sent to the address below will be sent back doubled! If you send $1,000 I will send back $2,000. Only doing this for 30 minutes,” according to a screen grab acquired by Business Insider.A similar tweeted appeared on Obama’s Twitter account.Also hit was Elon Musk.“I’m feeling generous because of COVID-19...
New York Daily News
Vanguard's partnership profits were paid out early to employees during pandemic
The low-cost mutual fund provider Vanguard is immensely profitable.The private, for-profit company earns millions of dollars in fees each year and pays income taxes. And for senior executives and others at Vanguard, there’s a closely watched compensation program called “Partnership Plan” paid out every year.The Partnership Plan is Vanguard’s internal profit-sharing mechanism, designed to reward all employees, from top managers, who benefit the most, to full-time call-center employees, with a piece of the profits the low-cost fund manager generates.This year, Vanguard pushed up the Partnership ...
The Philadelphia Inquirer
Quicken Loans files paperwork for IPO under name Rocket Companies
DETROIT — Quicken Loans, the nation’s largest mortgage lender, has filed paperwork with the U.S. Securities and Exchange Commission to move forward with taking the company public under the name Rocket Companies.Although the Detroit-based company has not yet announced the number or price of shares that would be offered on the New York Stock Exchange, experts have speculated an initial public offering by Quicken could raise tens of billions of dollars. No date was given for the proposed IPO.Under the proposal made public Tuesday, Quicken founder Dan Gilbert would retain a controlling stake in Ro...
The Detroit News
Maria Panaritis: The strangeness of having a checkup during a pandemic
It began two weeks ago, my foray into the abnormal new normal of a region reopening from pandemic lockdown.The kid’s dentist was back in business. My boy, too, had been yanked from kindergarten, cut off from classes, friends, and even trips to the supermarket. So, when the dental office opened back up, we slipped him in for a cleaning. In theory, schools are reopening this fall. In theory, they will need evidence that the kids saw a doctor and dentist.His would be the first of several medical meet-ups I’d book as the region entered or moved toward the “green” phase of reopening businesses and ...
The Philadelphia Inquirer
Wells Fargo expects dividend cut as coronavirus roils financial system
Wells Fargo expects it will shrink its dividend when it announces second-quarter earnings in July, the San Francisco-based bank said Monday.It will be the bank’s first dividend cut since the financial crisis.The move came after the Federal Reserve released the results of its annual stress tests of the country’s largest banks Thursday, in which it barred them from buying back their own stock or increasing dividend payouts to shareholders in the third quarter.Despite the restrictions, the regulator said that banks were generally still well-capitalized during the economic downturn caused by the c...
The Charlotte Observer
Law firm sued for unpaid rent in Chicago's first big office space leasing lawsuit of pandemic
CHICAGO — One of Chicago’s largest law firms is itself getting sued after skipping rent payments on its sprawling riverfront office during the coronavirus pandemic.Jenner & Block failed to make April 1 and May 1 rent payments and is in default on its lease at 353 N. Clark St., alleges a lawsuit filed by its landlord, an affiliate of Chicago-based real estate investment manager Heitman. The suit seeks to collect more than $3.8 million.The lawsuit, filed May 20 in Cook County Circuit Court, is the first known major legal spat between commercial landlords and tenants in Chicago since companies be...
Global spending on oil to drop by $1 trillion in 2020 says IEA
Abu Dhabi: Investments in the energy sector will see their biggest fall this year due to the COVID-19 outbreak, which has hit both demand and prices, with consumer spending on oil set to drop by $1 trillion in 2020 according to the International Energy Agency (IEA).“The speed and scale of the fall in energy investment activity in the first half of 2020 is without precedent. Many companies reined in spending; project workers have been confined to their homes; planned investments have been delayed, deferred or shelved; and supply chains interrupted,” the IEA said in their World Energy Investment...