Savings app CEO says 85,000 accounts locked in fintech meltdown: ‘We never imagined a scenario like this’
When Adam Moelis co-founded a fintech startup named Yotta in 2019, he wanted to give Americans a new way to save money to help them cushion the ups and downs of life. Instead, his company has inadvertently been a source of deep pain for thousands of customers who relied on Yotta accounts to receive paychecks, pay bills and save for emergencies. […]
Trump Media asks Louisiana to investigate trading of its shares
The company that owns Donald Trump’s social media platform Truth Social said on Tuesday it has sent a letter to the commissioner of the Louisiana Office of Financial Institutions to open an investigation into alleged “illicit activities” in the trading of its shares. The letter, from Trump Media and Technology Group’s (TMTG) (DJT.O), opens new tab CEO […]
Umicore shares rise after JPMorgan unveils double upgrade of materials tech group
Brussels-listed shares in Umicore SA (EBR:UMI) were trading higher by more than 4% on Wednesday after analysts at JPMorgan upgraded their rating of the maker of catalytic converters and battery materials to “Overweight” from “Underweight.” In a note to clients, the JPMorgan analysts said a revised valuation of the business until the end of 2026 suggests that […]
Sweden fines Nasdaq $9.6 million over regulatory violations
Sweden’s financial supervisory authority has fined Nasdaq Stockholm 100 million Swedish crowns ($9.59 million) for not complying with bourse rules at several occasions in recent years, the regulator said in a statement on Wednesday. “Investigations show that, in conjunction with … four company events, there have been deficiencies in how Nasdaq Stockholm has conducted its […]