JPMorgan has agreed to buy payments start-up WePay, in its first major acquisition of a financial technology (fintech) firm. The investment bank said Tuesday it would provide its 4 million small businesses clients with WePay’s payments technology. “With WePay, Chase is taking the work out of payments for both our business clients and the software
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Andrew Harrer | Bloomberg | Getty Images Listerine mouthwash bottles move through the production line at the J&J consumer healthcare products plant in Lititz, Pennsylvania. With the Dow Jones industrial average surging through the 23,000 level for the first time ever, Cramer offered investors a piece of contrarian food for thought. “Here’s something you never
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Speculation in digital currency bitcoin is apparently spilling over into an obscure e-commerce stock. Shares of Overstock.com closed up nearly 11.6 percent Tuesday after briefly surging more than 14 percent. The stock has hit four-year highs on mounting excitement around the company’s venture into blockchain, the technology behind bitcoin. “I think the new story for
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The University of Pennsylvania has produced more billionaires than any other university, according to Forbes. In a ranking of the schools that produce the most billionaires, Forbes said UPenn beat out Harvard and Yale to take the top spot. Thanks in large part to its Wharton School of Business, UPenn has 18 graduates who are
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UnitedHealth, the largest U.S. health insurer, reported a stronger-than-expected quarterly profit and raised its full-year earnings forecast, helped by strength in its pharmacy benefit management business. UnitedHealth, the bellwether for the industry, is the first health insurer to report earnings a week after U.S. President Donald Trump decided to cut off subsidies to health insurance
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In August, Estonia proposed its own state-backed digital asset, which would be called “estcoin”. The small Eastern European nation said it was considering the launch of estcoin through an initial coin offering (ICO) — a crowdfunding method that has garnered much scrutiny in recent weeks. And last month, Japan signaled the potential launch of its
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Goldman Sachs posted earnings Tuesday that easily beat expectations on the top and bottom lines, sending shares higher in premarket trading. Traders reacted positively despite another sharp pullback in trading. The bank reported: Earnings of $5.02 per share vs. $4.17 expected by Thomson Reuters. Revenue of $8.33 billion vs. $7.54 billion expected. Goldman has struggled
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U.S. motorcycle maker Harley-Davidson reported a better-than-expected quarterly profit on Tuesday and maintained its full-year shipments forecast, despite prolonged weak demand in its home market. Harley’s U.S. retail motorcycle sales, or sales by dealers to customers, fell 8.1 percent in the third quarter ended Sept. 24. The company’s total global retail sales dipped 6.9 percent.
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Talks for the deal between Airbus and Bombardier first started in August. Enders said the deal was different from an earlier round of talks in 2015, when he abruptly ordered an end to negotiations. He said the CSeries’ has since been certified, entered service and was performing well. “It’s an entirely different situation,” he said.
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Private equity and venture capital have much in common, and The Economist is partly correct to characterize VC as “private equity for fledglings”. Like their counterparts in PE, VC funds have long lifespans, which allows partners to cultivate long-term growth in portfolio companies rather than focusing on quarterly showings. And like private equity firms, the
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