Shares of the online car retailer Cavana dropped more than 50% over the past two days while dropping 18% in early trading on Monday morning. Wall Street is questioning the company’s business model after a mixed third quarter. Carvana reported a loss of $186 million for the fourth quarter, and analysts are not happy about …
Carvana Faces Stock Plunge As Used Car Sales Drop Read More »
CEO Charles Scharf told Burr that the bank’s answers to fraud-related queries about Zelle were “misleading, insulting, and useless.” The Massachusetts Democrat, who chairs the Senate Banking Committee, says that customers at Wells Fargo who use Zelle report fraud or scams more than twice as high as other big banks. She said Wells Fargo also …
Sen. Warren Accuses Wells Fargo CEO Of Dodging Questions Read More »
Despite recent recession fears, Berkshire Hathaway’s third-quarter operating profits were up. Meanwhile, Warren Buffett continued to buy his stock at a moderate pace. The Omaha-based company made a total of $7.761 billion in the third quarter, up 20% from last year’s period. Insurance-investment income increased to $1.408 billion this year, up from $1.161 billion in …
Berkshire Hathaway Talks Stocks As Other Companies See Movement As Well Read More »
On Monday, the Department of Justice announced that it had seized $3.36 billion in stolen bitcoin in a previously unannounced raid on the residence of James Zhong. Friday, Zhong pleaded guilty to wire fraud. This act is punishable by up to twenty years in prison. According to the Department of Justice, U.S. authorities seized about …
Federal Authorities Seize $3.36 Billion Worth of Bitcoin Read More »
CNBC reported on an EU document that shows that the bloc has “serious concerns” about the U.S. Inflation Reduction Act, which “breaches international trade rules.” The Inflation Act stated it would use $1.5 billion of its funds to improve its national laboratories. However, the EU saw this act in a different scope. U.S. Secretary of …
The European Union Has Serious Issues With Biden’s Inflation Reduction Act Read More »
Who could stop Mark Zuckerberg’s expensive pivot from Meta Platforms (META) to the metaverse? It’ll have to be one of the investors who hold the most significant losses. A recent Investor’s Business Daily analysis found that just ten investors, excluding Mark Zuckerberg, own the largest chunk of Facebook. That’s more than even Zuckerberg owns, at …
