Finance

Coinbase posts first profitable quarter in 2 years as CEO keeps pushing for regulations: ‘We remain confident that the U.S. will get this right’ – Uptrends

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Coinbase posts first profitable quarter in 2 years as CEO keeps pushing for regulations: ‘We remain confident that the U.S. will get this right’ – Uptrends

After eluding profitability for two years, Coinbase executives celebrated posting $273 million in net income for the fourth quarter of 2023, putting the net profitability for all of 2023 at $95 million. Even before the earnings call, markets were reacting positively to Coinbase, with shares on Thursday closing up 3.3%—and rising about 13% after hours. … Read more

Volkswagen-backed Scout Motors developing $50,000 electric SUV – Uptrends

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Volkswagen-backed Scout Motors developing ,000 electric SUV – Uptrends

Scout Motors celebrated the start of construction on its $2 billion electric SUV plant in South Carolina on Thursday not with a line of people in suits with shovels but with a nod to the company’s gasoline-powered past. A fleet of old Scout vehicles drove a brick from the site of the former factory in Fort Wayne, … Read more

Alleged fraudster Charlie Javice loses bid to have JPMorgan pay for counterclaims as legal battle continues – Uptrends

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Alleged fraudster Charlie Javice loses bid to have JPMorgan pay for counterclaims as legal battle continues – Uptrends

JPMorgan Chase & Co isn’t on the hook for all of Charlie Javice’s legal fees as the fight between the founder of financial aid site Frank and one of the world’s biggest banks continues. Judge Kathaleen St. Jude McCormick said Wednesday that JPMorgan Chase doesn’t have to pay for the fees associated with six counterclaims … Read more

BlackRock, State Street Global Advisors back out of climate transition group – Uptrends

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BlackRock, State Street Global Advisors back out of climate transition group – Uptrends

The chief financial officer who oversees New York City’s five public pension funds, with $242 billion in assets, has something to say to BlackRock CEO Larry Fink’s asset management firm and Jamie Dimon’s J.P. Morgan Asset Management: You guys are failing. “By caving into the demands of right-wing politicians funded by the fossil fuel industry … Read more

Markets: Stocks set another record with S&P 500 at all-time high – Uptrends

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Markets: Stocks set another record with S&P 500 at all-time high – Uptrends

U.S. stocks set another record Thursday following some mixed reports on the economy. The S&P 500 rose 29.11 points, or 0.6%, to 5,029.73 and squeaked by its prior all-time high set last week. The Dow Jones Industrial Average gained 348.85, or 0.9%, to 38,773.12, and the Nasdaq composite climbed 47.03, or 0.3%, to 15,906.17. TripAdvisor … Read more

New Yorker Hotel: 48-year-old man lives rent-free for 5 years – Uptrends

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New Yorker Hotel: 48-year-old man lives rent-free for 5 years – Uptrends

For five years, a New York City man managed to live rent-free in a landmark Manhattan hotel by exploiting an obscure local housing law. But prosecutors this week said Mickey Barreto went too far when he filed paperwork claiming ownership of the entire New Yorker Hotel building — and tried to charge another tenant rent. … Read more

How many workers went on strike in 2023? – Uptrends

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How many workers went on strike in 2023? – Uptrends

Auto workers held waves of walkouts. Hollywood actors and writers picketed for months. And healthcare, education and hospitality employees also withheld their labor while calling for improved pay and job conditions. The number of U.S. workers on strike more than doubled last year. According to an annual report from the Labor Action Tracker, a collaboration between researchers … Read more

Herbalife stock: Activist hedge fund billionaire Bill Ackman claims victory amid 32% plunge – Uptrends

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Herbalife stock: Activist hedge fund billionaire Bill Ackman claims victory amid 32% plunge – Uptrends

Pershing Square’s Bill Ackman folded on his short bet against Herbalife Ltd nearly six years ago but he’s calling Thursday’s record tumble a win. The stock of the weight-loss shakes and vitamins seller plunged 32% to a 14-year low, after a quarterly earnings report that fell short of analyst expectations. In the last six months, … Read more

Become the ‘face of data’ by taking one of these business analytics course offerings needed to succeed in 2024 – Uptrends

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Become the ‘face of data’ by taking one of these business analytics course offerings needed to succeed in 2024 – Uptrends

In the world of tech and business, data and decision-making are practically an inseparable pair. Companies from all sizes—from small businesses to Fortune 500 corporations—are using data for things like targeting ads, predicting customer performance, and identifying cost-cutting strategies. By next year, data will be used to optimize nearly every aspect of work, McKinsey predicts. … Read more

Lab-grown diamonds: Popular with Gen Z, millennials but not sustainable – Uptrends

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Lab-grown diamonds: Popular with Gen Z, millennials but not sustainable – Uptrends

The muted sounds of hammering and sanding drift down to the first floor of Bario Neal, a jewelry store in Philadelphia, where rustic artwork that mimics nature hangs on warmly-lit walls. Waiting for one of those rings is Haley Farlow, a 28-year-old second grade teacher who has been designing her three-stone engagement ring with her … Read more