Business failure is, unfortunately, all too common and there is a plethora of reasons for a business to crumble. To avoid this fate, let’s have a peek at some of the biggest business mistakes and investigate what lessons we can learn from their untimely demise. Whether you run a small business or a start-up – […]
Archives for 2020
Supreme Court overturns consolidated group tax refund allocation rule
The U.S. Supreme Court struck down a long-standing common law rule by which federal courts had decided disputes between members of an affiliated group filing a consolidated return over which of them should be allocated any tax refund. Instead, according to the unanimous decision released Tuesday, state laws should be applied to resolve these disputes. […]
Gold-backed ETFs have never seen inflows like this
Global investors are stashing more and more assets into gold as the coronavirus outbreak spreads and appetite for risk takes a hit. The global tally of bullion in ETFs swelled by the most in more than a month on Tuesday as equities sank. That was the 25th consecutive day of inflows, a record. At 2,624.7 […]
ESG investing is a ‘complete fraud,’ Chamath Palihapitiya says
“Complete fraud,” “joke,” “jargon,” “so ridiculous,” were among the choice words Social Capital founder and CEO Chamath Palihapitiya used to describe the growing ESG movement. “These are useful statements. It’s great marketing. But again it’s a lot of sizzle, no steak,” he said Wednesday on CNBC’s “Squawk Box.” The increasingly popular ESG investing style evaluates […]
The two-day, two trillion-dollar wipeout
CNBC.com: The S&P 500 just wiped out about $1.737 trillion of its value during its two-day market sell-off, according to S&P Dow Jones Indices. The equity benchmark lost $810 billion in value on Tuesday, adding to its $927 billion loss on Monday, according to the firm’s Senior Index Analyst Howard Silverblatt. It’s down $2.138 trillion […]
Lowe’s misses same-store sales estimates, forecasts weak 2020
(Reuters) – Lowe’s Cos Inc missed quarterly same-store sales estimates on Wednesday due to stiff competition from larger rival Home Depot Inc, and forecast annual earnings below expectations. Shares of the Mooresville, North Carolina-based home improvement chain fell 3% to $115 in trading before the bell. Home Depot, which beat sales estimates on Tuesday, has […]
PhonePe receives Rs427 crore from its Singapore parent
Walmart-owned Flipkart’s digital payments arm PhonePe has received a Rs 427 crore (about $60 million) cash infusion from its Singapore-based parent, regulatory filings show. This is the third such capital infusion into the loss-making digital payments company in the ongoing fiscal year, with investments totalling Rs 1,710 crore (around $240 million). PhonePe Private Ltd, Singapore, […]
It’s Karma: Once struggling startup unlocks fintech riches
By Tom Metcalf and Julie Verhage Ken Lin co-founded Credit Karma Inc. in 2007 after struggling to find out his own credit score. That’s something he probably won’t need in the future. Intuit Inc. — the software giant behind TurboTax — said Monday it’s buying Credit Karma for about $7.1 billion in cash and stock. […]
Jupiter launches European Smaller Companies Fund
Jupiter has today added to its European fund range with the launch of the Jupiter European Smaller Companies fund. The new fund will be managed by Jupiter’s co-head of European Growth, Mark Heslop. The unconstrained fund will aim to achieve long term capital growth by investing in small-cap European firms (excluding the UK). The fund […]
When A Client’s Financial Problems Are Beyond Financial Advice: How (And When) To Refer Clients To A Mental Health Professional
Executive Summary As financial advisors know, talking to clients about money can get emotionally charged, especially when the discussion concerns major (and potentially traumatic) life events. And sometimes, clients can become so distraught or unable to face the challenging issues in their past… even as the failure to deal with those issues prevents them from […]