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Financial News

632 Results / Page 23 of 71

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Business & Lifestyle

Proposed legislation in Hawaii would allow banks to serve as cryptocurrency custodians

HONOLULU (Heartland Newsfeed) -- Proposed legislation in Hawaii's state legislature could change the banking system, allowing for the storage and custody of cryptocurrency. Senate Bill 2594 was filed and introduced in the Hawaii Senate with bipartisan support. The legislation would make it legal for banking institutions in the state to hold "digital securities," "virtual currencies," "digital consumer assets" and other "open blockchain tokens" for their customers and allow the court system to hear cases on digital asset claims. Democratic Sens. […]

todayJanuary 23, 2020 75

Business & Lifestyle

Arizona Cardinals’ Larry Fitzgerald is newest stakeholder in NBA’s Phoenix Suns

PHOENIX (UPI) -- Veteran wide receiver Larry Fitzgerald has purchased a portion of the NBA's Phoenix Suns. Sources told NFL Network and ESPN Fitzgerald purchased a minority stake in the franchise. The Suns were valued at $1.5 billion in 2019, according to Forbes. "It's an investment in something I have supported since I've been in Arizona," Fitzgerald told NFL Network. "It gives me another connection in the community I love and always will live in. It's a long-term commitment I […]

todayJanuary 22, 2020 81

Business & Lifestyle

South Korea considering a crypto income tax of 20%

SEOUL (Heartland Newsfeed) -- Crypto holders living in South Korea may want to keep an eye out on recent actions being pursued by their government. A report released Monday from South Korean-based Yonhap News Agency revealed the country's Ministry of Economy and Finance's (SKMEF) tax office is reviewing a proposal that could result in the adoption of a cryptocurrency income tax, which could be as high as 20 percent. An unidentified official who spoke with Yonhap suggests that South Korea […]

todayJanuary 20, 2020 72

Business & Lifestyle

Collins sentenced to 26 months in prison for insider trading

NEW YORK (UPI) -- A Federal judge on Friday sentenced former Rep. Chris Collins of New York to 26 months in prison for insider trading. The Republican pleaded guilty to two counts -- conspiring to commit securities fraud and making false statements -- after initially facing an 11-count indictment. Federal prosecutors accused Chris Collins of encouraging his son, Cameron Collins, and Stephen Zarsky -- Cameron Collins' prospective father-in-law -- to sell their shares in Australian biotech firm Innate Immunotherapeutics using […]

todayJanuary 18, 2020 31

East Central Illinois Region

Local governments receive block grant monies for public infrastructure projects

SPRINGFIELD (Heartland Newsfeed) -- The Illinois Department of Commerce & Economic Opportunity (DCEO) announced that 26 communities and townships across the state received block grant money, according to a press release released Tuesday. The recipient announcement is related to applications received for public infrastructure as related to the Community Development Block Grant. $12.5 million was distributed for this block grant. The grants will help low-income communities across the state undertake desperately-needed public infrastructure projects, such as water plant improvements, water […]

todayJanuary 14, 2020 39

Business & Lifestyle

Visa to buy fintech provider Plaid in $5.3 billion deal

SAN FRANCISCO (UPI) -- Visa has announced it will pay more than $5 billion to acquire financial technology company Plaid, which produces software for startups to connect to users' bank accounts. Some of Plaid's clients include payment app Venmo, investing app Robinhood and cryptocurrency exchanges Coinbase and Gemini. The firm was founded in 2013 and is based in San Francisco. The deal is worth $5.3 billion, the companies said. Visa said three-fourths of the world's online consumers used a financial […]

todayJanuary 14, 2020 35

Business & Lifestyle

Raytheon tapped for self-evaluating machine learning system

WALTHAM, Mass. (UPI) -- Raytheon Co. announced on Monday it has begun work on a machine-learning technology allowing machines to teach machines through artificial intelligence use. The $6 million contract is one of four, valued at a total of $20.9 million, between the U.S. Defense Research Projects Agency and Raytheon BBN Technologies, SRI International, BBN Technologies, Teledyne Scientific & Imaging and BAE Systems. The new deal calls for the development of systems able to communicate information and the conditions of […]

todayJanuary 13, 2020 43

Business & Lifestyle

New Hampshire retailers voice opposition to new tax on electronic devices

CONCORD, N.H. (The Center Square) -- Advocates for New Hampshire retailers have voiced strong opposition to proposed legislation that would put a tax on electronic devices. House Bill 1492 would create a 4.3 percent tax on the retail sale of electronic devices, including computers, TVs, video games and cellphones. The revenue would be put toward funding education in the state. In an email response to The Center Square, New Hampshire Retail Association president/CEO Nancy Kyle provided excerpts of a briefing that […]

todayJanuary 13, 2020 22

Business & Lifestyle

Aramco raises $29.4 billion in world’s biggest initial public offering

NEW YORK/DHAHRAN, Saudi Arabia (UPI) -- Saudi Arabia's Aramco raised $29.4 billion in the world's largest initial public offering, surpassing the oil company's original listing by $5 billion. Goldman Sachs Group Inc., one of the underwriters of the IPO, exercised the option to place 450 million additional shares that were initially separated to avoid price swings, according to a statement. The shares at $8.53 were placed with investors during the book-building process. The stabilization period ended Friday. "The 450 million […]

todayJanuary 12, 2020 45

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