In a shocking revelation, the court-appointed trustee in the Synapse bankruptcy case uncovered an $85 million shortfall in customer deposits. This discrepancy arose from the mismatch between what partner banks of fintech middleman Synapse were holding and what depositors were owed. The fallout from this financial debacle has plunged the U.S. fintech sector into its
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Rivian Automotive has recently announced the redesign of its all-electric R1 pickup and SUV models with a focus on enhancing range, performance, and computing power. The 2025 model-year vehicles may not appear drastically different from their predecessors, but Rivian has made significant improvements under the hood. With more than half of the hardware components overhauled
Walmart recently unveiled new training programs and certifications to address the growing demand for skilled roles within its business, such as HVAC technicians, opticians, and software engineers. The retail giant is committed to upskilling its workforce to retain its position as the nation’s largest private employer and stay ahead of competitors like Amazon. Additionally, Walmart
Warner Bros. Discovery’s streaming service, Max, has recently announced price increases for its ad-free options. This move comes at a time when various streaming platforms are making their memberships more expensive. With the debut of season two of HBO’s “Game of Thrones” prequel “House of the Dragon” just around the corner, Max is looking to
It was reported by CNBC’s David Faber that Paramount and Skydance have come to terms on a merger deal. This deal is said to be announced in the near future, pending approval. The agreement stems from negotiations between a special committee at Paramount and a buying consortium led by David Ellison’s Skydance, along with backing
The inception of Yotta, a fintech startup founded by Adam Moelis in 2019, aimed to revolutionize the way Americans save money to provide a safety net for life’s uncertainties. However, instead of achieving this goal, Yotta has become a source of agony for thousands of its customers who relied on the platform for essential financial
The Food and Drug Administration recently approved Moderna’s vaccine for respiratory syncytial virus for adults ages 60 and above, marking the company’s second product to enter the U.S. market. This approval comes as a win for Moderna, providing them with another revenue source amidst decreasing demand for their Covid jab. Moderna’s shot approval was based
In April, signed sales contracts on existing homes dropped by 7.7% compared to March, marking the slowest pace since April 2020. This decline in pending sales, which are an indicator of closed sales one to two months later, was 7.4% lower than in April of the previous year. The drop was unexpected, as sales were
American Eagle announced that it is making progress in enhancing its profitability through improvements in its product assortment and operational adjustments. However, the company reported weaker-than-expected sales for the fiscal first quarter. Despite this, the revenue increased by 6% year over year, reaching a record high for the first quarter. The news release also stated
Porsche has made a groundbreaking announcement by introducing the first-ever production hybrid version of its iconic 911 sports car – the 2025 911 Carrera GTS. This move signals a significant shift in the automotive industry towards electrification, as well as a commitment to meeting stringent fuel economy standards. According to Frank Moser, Porsche’s vice president