FinTech News
Economic News
Morgan Stanley Advises Investors to "Embrace" Potential Recession
The last week of 2018 was a wild one on Wall Street. Following the worst Christmas Eve on record — which saw indexes fall to their lowest point of the year — Boxing Day brought a rally that resulted in the largest single-day point gain in the history of the Dow. Since all that madness the markets have been relatively calm but, as CNN Business reports, a Morgan Stanley analyst...
Money Management Tips
Money at 30: CES, Tech Temptation, and Lifestyle Creep
Yesterday I returned home from a week-long stay in Las Vegas, Nevada. The main purpose of my visit wasn't gambling or any particular Cirque du Soleil performance (although I did manage to see one while in town) but to attend this year's Consumer Electronics Show. This being my first time, it's hard to say how the 2019 edition of the annual convention compares to years past, although I heard from...
FinTech News
Americans Lost $1.7 Billion in Bitcoin Investments Last Year
Americans lost a total of $1.7 billion in 2018 by investing in Bitcoin. Moreover another $5 billion in unrealized losses is also estimated. While the losses themselves may be expected, something most investors don't realize is that they can deduct these losses on their taxes.
Small Business News
Ongoing Shut Down Affects $200 Million in SBA Loans Per Day
It's official: the current federal government shutdown now ranks as the longest in history, topping the previous record of 21 days (which occurred during the Clinton administration). So far the shutdown has resulted in furloughs for many "non-essential" federal employees and work without pay for others. As we previously reported, among the agencies affected by the shut down is the Small Business Administration. Now Inc. has run the numbers to determine...
Economic News
Survey Finds 37% of Americans Overspent This Holiday Season
In 2018 Americans spent more than $850 billion during the holiday shopping season. That spending level not only rose 5.1% from 2017 but also made it the highest total in six years. Now, according to a new survey by the personal finance site WalletHub, more than one-third of shoppers say they actually overspent this past holiday. WalletHub's study found that 37% of respondents felt they overspent during the 2018 holiday season....
FinTech News
Plaid Acquires Competitor Quovo
The FinTech firm Plaid has reportedly purchased rival startup Quovo in what amounts to the company's first major acquisition. According to CNBC sources, the deal was valued at just under $200 million, although terms were not officially made public. This news comes just a few weeks after Plaid raised $250 million in a funding round that valued them at a $2.7 billion. Those who have used apps such as Bumped or Qapital and...
Personal Finance News
