A recent study argues that the SEC’s whistleblower program is dominated by high-priced law firms. Those firms can take 30%-40% of the whistleblower’s bounty, lowering incentives for tipsters to come forward. Unrepresented tipsters also tend to get a smaller reward than those represented by a big firm. Loading Something is loading. The Securities and Exchange… Continue reading The SEC has paid over $1 billion to whistleblowers since 2012. But a new study says the agency has outsourced the job to high-priced law firms that may discourage more tipsters from coming forward.
July retail sales is the next big economic data point and a beat could calm recession fears but hurt stocks as the Fed pushes forward on its hawkish path
July retail sales are the next big macro data point for the stock market to watch. A retail sales beat could spur the Fed’s hawkishness, putting pressure on the recent rally in stocks. Retail heavyweights Target and Walmart are also due to release quarterly results this coming week. Loading Something is loading. US retail sales… Continue reading July retail sales is the next big economic data point and a beat could calm recession fears but hurt stocks as the Fed pushes forward on its hawkish path
A 23-year-old entrepreneur netted over $750,000 in 2021 by renting out properties he doesn’t own. Here’s how he got started.
Derek Cheung learned about rental arbitrage during an internship in 2019. He researched a list of available properties in Austin, Texas, then pitched his idea to landlords. Cheung used his profits and negotiated deals to grow his short-term-rental business. In February 2019, Derek Cheung took a big leap of faith into real estate when he… Continue reading A 23-year-old entrepreneur netted over $750,000 in 2021 by renting out properties he doesn’t own. Here’s how he got started.
Warren Buffett’s Berkshire Hathaway reveals how inflation, worker shortages, supply constraints, and flagging consumer demand are hitting American companies
Theron Mohamed Warren Buffett. Chip Somodevilla / Getty Berkshire Hathaway’s Q2 earnings provide valuable insights into the health of the US economy. Warren Buffett’s company faced inflation, worker shortages, supply woes, and patches of weak demand. Geico faced higher prices for used cars and auto parts, while McLane battled to find truck drivers. Loading Something… Continue reading Warren Buffett’s Berkshire Hathaway reveals how inflation, worker shortages, supply constraints, and flagging consumer demand are hitting American companies
Wall Street is more hawkish than the Fed and that suggests continued upside for stocks as sentiment improves, Fundstrat says
A bullish counter trade is forming as Wall Street gets more hawkish than the Fed, according to Fundstrat’s Tom Lee.Lee highlighted that economists expect the Fed to raise interest rates through 2023 to 5%.Meanwhile, only one Wall Street bank sees positive gains for the S&P 500 in 2022. Loading Something is loading. Wall Street has… Continue reading Wall Street is more hawkish than the Fed and that suggests continued upside for stocks as sentiment improves, Fundstrat says
China’s Xi Jinping may visit Saudi Arabia next week with oil likely to top the agenda after Biden fails to secure a big production boost, report says
Xi Jinping is expected to visit Saudi Arabia next week, according to the Guardian. The Chinese leader will likely be received with elaborate ceremonies as relations with Saudi Arabia grow closer. Xi’s trip follows a visit to the kingdom from US President Joe Biden last month. Loading Something is loading. Chinese President Xi Jinping is… Continue reading China’s Xi Jinping may visit Saudi Arabia next week with oil likely to top the agenda after Biden fails to secure a big production boost, report says
Dutch police arrested a suspected developer of the US-sanctioned Tornado Cash crypto mixer and are looking into potentially more arrests
A developer of the sanctioned Tornado Cash platform has been arrested by Dutch Police. The platform was sanctioned by the US Treasury this week over connections to North Korean money laundering. Dutch police say that more arrests are possible as they look into decentralized fintech firms. Loading Something is loading. The Netherlands Crime Agency (FIOD)… Continue reading Dutch police arrested a suspected developer of the US-sanctioned Tornado Cash crypto mixer and are looking into potentially more arrests
Russia’s wealth fund could add China’s yuan as the Kremlin explores other currencies while sanctions keep dollar and euro assets frozen
Russia is looking to add China’s yuan, India’s rupee, and Turkey’s lira to its wealth fund. The central bank disclosed its policy outlook for the coming three years, and noted that other currencies could also be added to the mix. Russia’s wealth fund held just under $200 billion in July. Loading Something is loading. Russia’s… Continue reading Russia’s wealth fund could add China’s yuan as the Kremlin explores other currencies while sanctions keep dollar and euro assets frozen
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