Tag Archives: billion

This article first appeared in the Morning Brief. Get the Morning Brief sent directly to your inbox by signing up here. Saturday, January 14, 2022 Today’s newsletter is by Myles Udland, Head of News at Yahoo Finance. Follow him on Twitter @MylesUdland and on LinkedIn. Read this and more market news on the go with Yahoo Finance App. Big banks including JPMorgan, Wells Fargo, Citigroup, and Bank of America all reported quarterly results on Friday. These firms collectively sent a clear message to… Source link

The government spending bill that was just passed through the Senate and awaits approval from Congress is estimated to total nearly $1.7 trillion. While it will fund a variety of initiatives like aid to Ukraine and enhanced retirement savings, it will not extend “accelerated depreciation” tax breaks, which were initiated during the Trump administration and seen by many as corporate tax cuts. Read more. Source link

Early Tuesday morning, the Securities and Exchange Commission filed charges against Sam Bankman-Fried, alleging the 30-year-old disgraced founder of FTX orchestrated a scheme to defraud the company’s equity investors. “We allege that Sam Bankman-Fried built a house of cards on a foundation of deception while telling investors that it was one of the safest buildings in crypto,” SEC Chair Gary Gensler said in a release. “The alleged fraud committed by Mr. Bankman-Fried is a clarion call to… Source link

Disney’s ad tier officially launched Thursday as the media giant looks to curb accelerating streaming losses. “We expect Disney to generate anywhere from about $500 million to even up to $1 billion dollars in ad-supported revenue on the Disney+ product in their first year of operation,” Geetha Rangathan, analyst at Bloomberg Intelligence, told Yahoo Finance Live. Rangathan said ad-supported revenue rise by up to $3 billion over the next three years, reiterating her confidence in the media… Source link

Bold bets on high-flying technology stocks from Cathie Wood’s ARK Invest have destroyed an estimated $1.3 billion in shareholder wealth over the past decade, a Morningstar analysis published this week found. And these losses don’t take into account the sharp declines seen across ARK’s suite of investment offerings so far this year. According to Morningstar, the bulk of these losses came primarily from two of ARK’s actively managed vehicles last year: the ARK Genomic Revolution ETF (ARKG) and… Source link

The Pentagon building in Washington, D.C. Staff | AFP | Getty Images The Pentagon said Wednesday that Amazon, Google, Microsoft and Oracle received a cloud-computing contract that can reach as high as $9 billion total through 2028. The outcome of the Joint Warfighting Cloud Capability, or JWCC, effort is in line with the U.S. Defense Department’s effort to rely on multiple providers of remotely operated infrastructure technology, as opposed to relying on a single company, a strategy promoted… Source link

Indians form the world’s largest diaspora group at around 18 million. That has led to India receiving ever-increasing remittances over the years. In 2022, the amount has already touched $100 billion, making the country the first ever to reach the figure, World Bank data (pdf) show. “Remittance flows to India were enhanced by the wage hikes and a strong labor market in the United States and other OECD countries,” a Nov. 30 World Bank release said. Read more datawrapper-chart-So8Gk Inward… Source link

Photo illustration by Jakub Porzycki/NurPhoto via Getty Images Yahoo’s latest deal underscores its move to boost revenues and use its cash to grow its core businesses, including Yahoo Sports, Yahoo Finance and Yahoo Mail. Why it matters: Acquired last year by Apollo Global Management, Yahoo plans to add on new commerce and transaction businesses, such as sports betting and, according to a company source, retail stock trading. Of note: Yahoo generates around $8 billion in GAAP revenues… Source link

Photo illustration by Jakub Porzycki/NurPhoto via Getty Images Yahoo’s latest deal underscores its move to boost revenues and use its cash to grow its core businesses, including Yahoo Sports, Yahoo Finance and Yahoo Mail. Why it matters: Acquired last year by Apollo Global Management, Yahoo plans to add on new commerce and transaction businesses, such as sports betting and, according to a company source, retail stock trading. Of note: Yahoo generates around $8 billion in GAAP revenues… Source link

Early Friday morning, Binance CEO Changpeng Zhao said the company committed another $1 billion to its “relief fund” aimed at helping troubled businesses in the crypto industry. Binance’s efforts have been accelerated in the wake of FTX’s collapse earlier this month, which resulted in the company, once valued at $32 billion, filing for bankruptcy protection and leaving the crypto industry frozen in its wake. Earlier this month, Binance walked away from a purported deal to buy FTX. Binance’s… Source link