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Coinbase
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Business & Lifestyle

Coinbase to lay off more than 900 employees

Coinbase, the first crypto exchange to be publicly traded, blamed "market conditions" for its move and said it will incur $149 million to $163 million in restructuring efforts, including severance packages and termination benefits. SAN FRANCISCO (UPI) -- Coinbase, one of the world's top cryptocurrency trading platforms, announced Tuesday it will be laying off more than 900 workers in the face of slowing global interest in digital currencies. The company, the first crypto exchange to be publicly traded, blamed "market conditions" for its […]

todayJanuary 12, 2023 26

Bitcoin cryptocurrency money
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Business & Lifestyle

Cryptocurrencies: the future of money?

With the meteoric rise of Bitcoin and other cryptocurrencies, people are beginning to ask: is this the future of money? Or is this just a passing fad? It’s something that anyone can do, learn how to build a crypto exchange. Either way, they’re not going anywhere any time soon as we detail in this particular article. Cryptocurrencies have made waves, and that’s not a secret. This article will explore the history of money and discuss why cryptocurrencies may be here […]

todayNovember 16, 2022 7

Samsung
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Business & Lifestyle

Samsung announces disappointing 3Q results

JH Han, vice chairman and CEO of Samsung, speaks on stage during the Samsung press conference at the 2022 International CES, at the Mandalay Bay Convention Center in Las Vegas January 4. SEOUL (UPI) -- South Korea's Samsung Electronics announced Friday that its third-quarter operating profit is expected to be $7.66 billion, down a whopping 31.7% from a year ago. It's the lowest profitability level for the company since the first quarter of 2021 and falling short of the $8.3 […]

todayOctober 12, 2022 17

Illinois American Water Villa Grove
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Business News

Villa Grove sells water, wastewater systems

Systems sold to Illinois American Water for $11 million

VILLA GROVE -- Illinois American Water (IAW) announced on September 22 the acquisition of Villa Grove's water and wastewater systems. The newly acquired systems add approximately 1,489 water and 1,069 wastewater customers to the Company’s eastern Illinois service area. The purchase was at the cost of $11 million. “Our team is excited to serve our new customers in Villa Grove and expand our footprint in Douglas County,” said IAW president Justin Ladner. “Since 2020, we have had the privilege of […]

todayOctober 3, 2022 41

Federal Reserve Jerome Powell
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Business & Lifestyle

Federal Reserve raises interest rate by 0.75%

Federal Reserve Chairman Jerome Powell and members of the Federal Open Markets Committee voted Wednesday to raise the benchmark interest rate by 75 basis points. WASHINGTON (UPI) -- The Federal Reserve raised its benchmark interest rate by 0.75% Wednesday in its latest move to fight the highest inflation in 40 years. The highly anticipated move boosts the federal funds rate to the range of 3% to 3.25% after it remained near zero as recently as March. The Federal Open Market […]

todaySeptember 21, 2022 27

1GWBZe
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Business & Lifestyle

Kraken announces leadership succession plan

CHEYENNE, Wyo. (Business Wire) -- Kraken, one of the world’s leading crypto platforms, today announced that COO Dave Ripley will succeed co-founder and CEO Jesse Powell. Powell will become chairman of the board of directors. Ripley will assume the role of CEO after Kraken completes a COO search. “Dave’s proven leadership and experience give me great confidence that he’s the ideal successor. [He is] the best person to lead Kraken through its next era of growth,” said Powell. “I look […]

todaySeptember 21, 2022 17

6323027042c82.image
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Business News

Deal reached to avoid national rail strike

A pending railroad worker strike Friday, including those working for Amtrak, may create significant pains in an already strained economic environment. If no deal is reached, workers will go on strike as of 12:01 a.m. Friday. However, a tentative agreement was agreed to early Thursday morning, avoiding the strike. WASHINGTON (The Center Square) – The White House announced a tentative deal Thursday morning to avoid a national rail strike. The strike would have threatened to cripple the nation’s already stressed supply […]

todaySeptember 15, 2022 23

Dow Jones U.S. markets
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Business & Lifestyle

Dow stabilizes after worst sell-off since 2020

The Dow Jones Industrial Average closed up 30.12 Wednesday following the worst sell-off in two years. NEW YORK (UPI) -- U.S. stocks stabilized Wednesday right before the close in an up-and-down trading session following the biggest single-day sell-off in more than two years. After dropping more than 200 points during the final hour of trading, the Dow Jones Industrial Average finished the day up 30.12 to close at 31,135.09. The NASDAQ rose 0.7%, while the S&P 500 added 0.3%. Energy […]

todaySeptember 14, 2022 21

stocks business financial
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Business News

Stocks slide for third straight week

Traders work on the floor of the NYSE before the opening bell at the New York Stock Exchange on Wall Street in New York City on August 19. Stocks fell for a third straight week Friday. NEW YORK (UPI) -- U.S. markets posted their third straight weekly loss, falling Friday despite a solid August jobs report. The Dow Jones Industrial Average finished 337.98 points or 1.1% lower at 31,318.44. The S&P 500 also fell 1.1%, and the NASDAQ Composite declined […]

todaySeptember 2, 2022 15

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