Back in 2021 and early 2022, there was a flurry of VC interest in Southeast Asian investment apps. One of them was Singapore-based Endowus, which raised two rounds in rapid succession: a Series A in June 2021 followed just seven months later by $25.6 million in follow-on funding. Now...
The first lawsuit over the use of ESG in a 401(k) has a few gaping holes — most notably that the lead plaintiff in the proposed class action wasn’t invested in any of the funds in question, defendant American Airlines said. In a motion to dismiss filed Friday, the airline...
Wall Street regulators Tuesday hit broker-dealers with another round of hundreds of millions of dollars in penalties for failing to catch executives and traders using unofficial communications like WhatsApp. But of the 11 firms that agreed to pay $289 million to settle the matter with the Securities and Exchange...
Jose Luis Pelaez Inc | Digitalvision | Getty ImagesAmericans increasingly turned to their credit cards to make ends meet heading into the summer, sending aggregate balances over $1 trillion for the first time ever, the New York Federal Reserve reported Tuesday.Total credit card indebtedness rose by $45 billion in...
Wells Fargo & Co. and BNP Paribas are among firms that will pay hundreds of millions of dollars total in penalties for employees using unofficial communications like WhatsApp to conduct business — the latest salvo in U.S. regulators’ crackdown on how Wall Street keeps records. Wells Fargo units agreed to...
Chargeflow, a startup using AI to fight chargeback fraud, today announced that it raised $11 million in a seed round led by the VC firm OpenView Venture Partners. The tranche builds on Chargeflow’s previously undisclosed $3 million seed round closed several months ago, bringing the startup’s total raised to...
After facing the reality of how expensive fresh flowers could be when planning her own wedding, Della Larca founded Florèal Blooms, her luxury silk flower rental business, three and half years ago from her basement in Butler, New Jersey.Larca's business swelled last year, and she recently moved to a...
Here are the most important news items that investors need to start their trading day:1. Earnings delightThe Dow Jones Industrial Average rose more than 400 points, or 1.16%, Monday to kick off the week. Meanwhile, the S&P 500 rose 0.9%, while the Nasdaq Composite, which was dragged down by Tesla, increased just 0.61%....
Financial advisors using LPL Financial’s Model Wealth Portfolios unified account management program will now have access to direct indexing. The firm announced the enhancement at its flagship Focus 2023 event that ended Monday, and advisors will be able at access the feature through new custom indexed separately managed account solutions. The...
Bulging sales of Treasuries are about to deliver a major test of investor demand and determine whether a sell-off has room to run as the market braces for the biggest round of refunding auctions since last year. Yields have surged since late July, and climbed again Monday, amid evidence of a resilient...