When Adam Moelis co-founded a fintech startup named Yotta in 2019, he had noble intentions. Unfortunately, the company has become a source of distress for thousands of customers due to a dispute between Yotta’s banking partners, Synapse and Evolve Bank & Trust. The fallout has left 85,000 Yotta customers locked out of their accounts, totaling
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Billionaire investor Bill Ackman is making headlines once again by selling a 10% stake in his investment firm, Pershing Square. This move is part of a larger strategy to eventually take the firm public, with a recent funding round raising $1.05 billion. The transaction values Pershing Square at $10.5 billion and has garnered interest from
The United Auto Workers union recently challenged the results of the organizing vote at a Mercedes-Benz plant in Alabama, where workers voted against union representation. Among the claims made by the UAW are allegations that the German automaker fired four pro-union workers, forced workers to attend anti-union meetings, and interfered with workers’ ability to advocate
China’s recent efforts to bolster its real estate market have been met with cautious optimism by analysts. While the government’s comprehensive policy measures are a step in the right direction, it will take time before significant stabilization is observed. Despite the initial surge in Hong Kong-listed property stocks following the announcement, the market still remains
Red Lobster, the popular seafood chain, has recently filed for Chapter 11 bankruptcy protection in an effort to slim down its operations and facilitate a sale. The company disclosed that it has received a stalking horse bid from its existing lenders to acquire the business, although they are open to higher bids from potential buyers.
The Chinese government has recently announced new measures to bolster the real estate sector, particularly aimed at supporting state-owned enterprises (SOEs) in purchasing unsold apartments. This initiative is intended to provide more funding for developers to complete construction on pre-sold properties. People’s Bank of China Deputy Governor Tao Ling revealed that the central bank would
The U.S. Department of Education has extended the deadline for borrowers to request a loan consolidation in order to qualify for key student loan forgiveness. This initiative, which will combine federal student loans into one new federal loan, could potentially result in debt cancellation for borrowers. The deadline for this loan consolidation request has now
In an effort to address the income gap and improve access to higher education, the state of Connecticut has implemented several programs to pave the way for college attendance and alleviate student debt. While these initiatives aim to level the playing field and provide opportunities for underserved communities, their impact and effectiveness remain questionable. One
As the world becomes more interconnected, many Americans are considering purchasing real estate overseas. According to the latest Trend Report by Coldwell Banker Global Luxury, nearly 40% of U.S. millionaires are planning on buying a home abroad within the next year. Additionally, two-thirds of respondents are looking to purchase a property outside of the U.S.
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