Author: Jeffery Carter

Patrick Collison, chief executive officer and co-founder of Stripe Inc., left, smiles as John Collison, president and co-founder of Stripe Inc., speaks during a Bloomberg Studio 1.0 television interview in San Francisco, California, U.S., on Friday, March 23, 2018. Bloomberg | Bloomberg | Getty ImagesStripe has once again shown why sometimes it’s better to be private.During a February sell-off for fintech stocks, Block plunged 28%, its steepest decline since 2023, alongside drops of 20% or more for PayPal and Coinbase and a 8% slide in shares of SoFi. Meanwhile, Stripe on Thursday announced a tender offer for employee shares at a…

(Bloomberg) — Two short sellers released reports on AppLovin Corp., touching off a record intraday rout of as much as 23% in shares of 2024’s best performing technology stock. Most Read from Bloomberg Shares of AppLovin, which provides marketing services to app developers, pared some of those losses to close down 12% Wednesday, shedding nearly $17 billion in market value as investors unwound some of the blistering rally that saw shares rise eight fold last year. The stock was briefly halted for a volatility pause. Fuzzy Panda and Culper Research both published short reports against the company, just days after…

Norwegian robotics firm 1X unveiled its latest home robot, Neo Gamma, on Friday. The humanoid system will succeed Neo Beta, which debuted in August. Like its predecessors, the Neo Gamma is a prototype designed for testing in the home environment. Images of the robot show it performing a number of household tasks like making coffee, doing the laundry, and vacuuming. 1X says the bipedal robot is set to step outside the lab, with limited in-home testing, though the company is quick to add that the Gamma is a long way from commercial scaling and deployment. Image Credits:1X Neo Gamma represents…

Jonathan McKernan, U.S. President Donald Trump’s nominee to be the director of the Consumer Financial Protection Bureau, sits on the day he testifies during a Senate Banking, Housing and Urban Affairs Committee confirmation hearing on Capitol Hill in Washington, D.C., U.S., February 27, 2025. Annabelle Gordon | ReutersPresident Donald Trump’s pick to lead the Consumer Financial Protection Bureau on Thursday withstood grilling from Democrat senators who repeatedly asked him to confirm that he would uphold his legal obligations to run the agency.Pressed by senators including Elizabeth Warren of Massachusetts, Jonathan McKernan, a former Federal Deposit Insurance Corporation board member, told lawmakers…

U.S. President Donald Trump meets with Ukrainian President Volodymyr Zelenskyy at the White House in Washington, D.C., U.S., Feb. 28, 2025.Brian Snyder | ReutersPresident Donald Trump found the tone and body language of Ukrainian President Volodymyr Zelenksyy objectionable during an Oval Office meeting that exploded into a loud argument on Friday, the White House told CNBC.White House press secretary Karoline Leavitt said there was not a specific thing that Zelenskyy said in the Oval Office to Trump or Vice President JD Vance that the president objected to, but the tone and manner in which he said it.Leavitt said Friday that…

India beat New Zealand by 44 runs to set up rerun of the Cricket World Cup final against Australia in last four.Spinner Varun Chakravarthy returned figures of 5-42 as India beat New Zealand by 44 runs to set up a semifinal clash with Australia in cricket’s Champions Trophy. India won all three of their group matches to top Group A and will play the first semifinal of the 50-over tournament in Dubai on Tuesday. The match is a rerun of the 2023 Cricket World Cup final, which the Australians won in Ahmedabad. New Zealand will take on Group B winners…

CNBC’s Jim Cramer on Monday described how he thinks froth is disrupting the market. He believes that trendier stocks need to cool off before others can bounce back.”Once these frothy momentum stocks come in enough, then we will finally be in a much more straightforward world, a world where what tends to rally is not the sizzle, but the steak,” Cramer said.After a humbling sell-off on Friday, the indexes struggled to find their footing during Monday’s session. By close, the S&P 500 slid 0.5%, the Nasdaq Composite lost 1.21% and the Dow Jones Industrial Average clinched a 0.08% gain. According…

Valentinrussanov | E+ | Getty ImagesAs the IRS faces cutbacks, some taxpayers are weighing whether to file returns this season.But skipping your federal filing can be costly, experts say.Josh Youngblood, an enrolled agent and owner of The Youngblood Group, a Dallas-based tax firm, said he’s had a few clients ask whether they need to file this year.”I’m concerned we’re going to see more of this” amid IRS layoffs and calls to eliminate the agency, he said.More from Personal Finance:Don’t wait to file your taxes this season, experts say. Here’s whyHere’s how IRS layoffs could impact your tax filing and refund…

By Chris Prentice NEW YORK (Reuters) -The U.S. Securities and Exchange Commission has told unionized employees they will have to return to the office in mid-April, unless they have certain exemptions, according to a memo seen by Reuters. The move follows similar efforts at the agency with its non-union staff, as well as across the federal workforce, in response to a mandate by Republican President Donald Trump that officials terminate remote or hybrid work arrangements. Citing that directive, guidance from the Office of Personnel Management, SEC Chief Operating Officer Ken Johnson said in a memo to all staff they will…

OpenAI is forecasting a major shift in the next five years around who it gets most of its computing power from, The Information reported on Friday. By 2030, OpenAI expects to get three-quarters of its data center capacity from Stargate, a project that’s expected to be heavily financed by SoftBank, one of OpenAI’s newest financial backers. That represents a major shift away from Microsoft, OpenAI’s biggest shareholder, who fulfills most of the startup’s power needs today. The change won’t happen overnight. OpenAI still plans to increase its spending on Microsoft-owned data centers in the next few years. During that time,…