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☆ Y Combinator-backed trading app Pluto Markets just raised $2.6 million with this 14-slide pitch deck
▼ + stars: | 2024-02-07 | by ( Callum Burroughs | ) www.businessinsider.com time to read: +2 min

Pluto Markets, a trading app backed by famed accelerator Y Combinator, has raised $2.6 million in fresh funds. The Danish fintech startup, founded in 2021, wants to upend the market for retail trading offerings in Europe. "Companies raised a lot of money to blitz scale across the EU but have now focused on their core markets. Unlike most fintech brokerages, Pluto secured an EU-wide investment license before it had raised $1 million in funding, having bootstrapped and stayed lean. You can check out Pluto Market's 14-slide pitch deck below:

Persons: Joakim Bruchman, Goldman Sachs, We've, Bruchmann, Pluto, Oscar Vingtoft Organizations: Business, Companies, Trade Republic, Saxo Bank, EU Locations: Danish, Europe, Denmark, France, Germany, Berlin

☆ Early retiree who earned $380,000 in passive income last year: Your 'best option' for making money while you sleep
▼ + stars: | 2024-02-05 | by ( Ryan Ermey | ) www.cnbc.com time to read: +3 min

Sam Dogen is the author of "Buy This, Not That"Sam Dogen knows a thing or two about passive income. By reinvesting his passive income along with money he made through his website and book sales, Dogen was able to boost the family's income over the years as well. In 2023, Dogen's passive income portfolio, which includes stock, bond and real estate investments, among others, generated about $380,000. According to Dogen, the best way to begin earning passive income is through your brokerage account. "If you want passive income right now, I think the best option is Treasury bonds at 5%," he says.

Persons: Sam Dogen, Dogen, Stocks Organizations: U.S ., Treasury Locations: San Francisco

LOS ANGELES (AP) — One of the nation's largest real estate brokerages has agreed to pay $70 million as part of a proposed settlement to resolve more than a dozen lawsuits across the country over agent commissions. In October, a federal jury in Missouri found that the National Association of Realtors and several large real estate brokerages, including Keller Williams, conspired to require that home sellers pay homebuyers' agent commission in violation of federal antitrust law. More than a dozen similar lawsuits are pending against the real estate brokerage industry. Two other large real estate brokerages agreed to similar settlement terms last year. In their respective pacts, Anywhere Real Estate Inc. agreed to pay $83.5 million, while Re/Max agreed to pay $55 million.

Persons: brokerages, ”, Michael Ketchmark, Keller Williams, homebuyers, “, ” Gary Keller, Max Organizations: ANGELES, Keller Williams Realty Inc, National Association of Realtors, Inc Locations: Illinois, Missouri, Austin , Texas

☆ Tax season is underway. Here’s what investors should know to prepare
▼ + stars: | 2024-02-01 | by ( Darla Mercado | Cfp | ) www.cnbc.com time to read: +6 min

Tax filing season officially started on Monday, and investors could pay the price following last year's stock market bonanza. Meanwhile, investors collected yields exceeding 5% in money market funds, certificates of deposit and high yield savings accounts. In New York, the top income tax rate is 10.9%, and it's 13.3% in California. Vanguard's New York Municipal Money Market Fund (VYFXX) has a 7-day SEC yield of 4.25% and an expense ratio of 0.16%. Fidelity offers the California Municipal Money Market Fund (FSPXX) , which has a 7-day yield of 3.54% and an expense ratio of 0.3%.

Persons: Tim Steffen, Brenna McLoughlin, you've, McLoughlin, Vanguard's, Sam Nofzinger, Steffen, it's, There's Organizations: Baird, Wealthstream Advisors, York Municipal Money Market Fund, SEC, Fidelity, Money Market Fund, Public Locations: Milwaukee, New York, California, York, –

☆ China stock market: CSRC limits short-selling in latest effort to stem a rout
▼ + stars: | 2024-01-29 | by ( Laura He | ) edition.cnn.com time to read: +3 min

Hong Kong CNN —China’s top securities regulator has limited short-selling, in its latest effort to stem a protracted $6 trillion-dollar stock market rout that began in 2021. The China Securities Regulatory Commission announced Sunday it would “fully” suspend the lending of restricted shares on bourses in mainland China. The Shenzhen stock exchange is the second-largest in mainland China after Shanghai. Bloomberg/Getty ImagesCalm returns but challenges remainChinese authorities have stepped up their measures to stem the stock market rout over the past week. A day later, in an unprecedented move, regulators said they were considering evaluating the performance of the heads of state-owned companies based on their stock market value.

Persons: Hong Kong CNN —, ”, Ken Cheung, Evergrande, ” Cheung, Hong, Li Yunze, Pan Gongsheng Organizations: Hong Kong CNN, China Securities Regulatory Commission, Mizuho Bank, Bloomberg, Shanghai Shenzhen, Administration of Financial, People’s Bank of China Locations: Hong Kong, bourses, China, Shanghai, Shenzhen

☆ 2023 income tax return: Here’s what you need to know before you file
▼ + stars: | 2024-01-28 | by ( Jeanne Sahadi | ) edition.cnn.com time to read: +8 min

New York CNN —Come Monday, the IRS will start accepting and processing 2023 federal income tax returns. Pull out your return from last year: Your 2022 tax return will give you a good starting point for figuring out what documents you need to have handy to fill out this year’s return, said Tom O’Saben, director of tax content and government relations at the National Association of Tax Professionals. Here is a list of the most common and costly tax return mistakes the IRS has seen over the years. Lastly, the program cannot be used to file your state returns, so you’ll have to do that separately but your state may have its own free file program. (More details on the federal Direct File program are here.)

Persons: Tom O’Saben, you’ve, ” O’Saben, O’Saben, didn’t, you’re, filers, Katie Lobosco, Tami Luhby Organizations: New, New York CNN, IRS, Patriots, National Association of Tax, Social Security, Child, filers, Social Locations: New York, Maine and Massachusetts, brokerages, Arizona , California, Florida , Massachusetts, Nevada , New Hampshire , New York, South Dakota , Tennessee , Texas, Washington and Wyoming

☆ ADM shares plunge 24% in worst day since 1929 as CFO is placed on leave
▼ + stars: | 2024-01-23 | by ( ) www.cnbc.com time to read: +3 min

The Archer-Daniels-Midland Co. (ADM) grain facility in Mendota, Illinois, U.S.Shares of Archer-Daniels-Midland plunged 24% on Monday, its biggest one-day drop since 1929, after CFO Vikram Luthar was placed on administrative leave as the company investigates accounting practices at its Nutrition segment. The probe brings more uncertainty to ADM's high-margin Nutrition segment, which is under pressure due to weak demand for meat alternatives and other products as well as downtime at a large soy processing facility. The Nutrition segment, however, has not performed well in recent quarters. "First and foremost, understanding the true scope of potential accounting irregularities and their impact on Nutrition segment revenues/margins will be critical," said Goldman Sachs analyst Adam Samuelson. ADM appointed Ismael Roig, who has been with the company since 2004, as its interim CFO.

Persons: Archer, Vikram Luthar, Luthar, Goldman Sachs, Adam Samuelson, Ismael Roig Organizations: Daniels, Midland Co, Midland, U.S . Securities, Exchange Commission, SEC, for Research, ADM, BMO, UBS, Bunge Global Locations: Mendota , Illinois, U.S, Chicago

☆ There are 3 bullish signals flashing that point a recovery in the housing market, Compass CEO says
▼ + stars: | 2024-01-22 | by ( Jennifer Sor | ) www.businessinsider.com time to read: +5 min

The housing market is flashing signs of life, Compass CEO Robert Reffkin said. AdvertisementThe housing market is flashing a handful of bullish signals for the year ahead, according to Compass CEO Robert Reffkin. The founder of one of the nation's top real estate brokerages said he believed the housing market will be on the path to recovery in 2024. But more owners appear to be moving out of necessity or have warmed up to the idea of selling as mortgage rates head lower. At this rate, buyers are outpacing sellers in the market, Reffkin said, noting that Compass's real estate agents are seeing more business in the new year.

Persons: Robert Reffkin, Reffkin, —, brokerages, Freddie Mac, Sam Lafoca, LM Otero, Sellers, Phil Noble, I've, Barbara Corcoran Organizations: Service, National Association of Realtors, CNBC, Community, Getty, Associated, REUTERS, Mortgage, Association, New Locations: lancaster California, USA, Dallas, Kirkham, England

☆ A short-seller who gained over $66,022 in December with a win ratio of 95% shares the 3 red flags that helped him evade short squeezes and led him to have one of his best months
▼ + stars: | 2024-01-21 | by ( Laila Maidan | ) www.businessinsider.com time to read: +7 min

And these short sellers pile up on top of each other with their biased opinions," Capablanca said. But because of the increased number of short sellers, a stock can blow past that and remain elevated over multiple days. So even if the market seems dead, nothing is there to trade, they will force a trade," Capablanca said. This rule helped him avoid Vivos Therapeutics (VVOS), a stock that many short sellers he knew tried to short. Such an outcome could lead to a continued elevated price, driving short sellers out for weeks, he said.

Persons: David Capablanca, lockdowns, Capablanca, it's, POL Organizations: Capablanca, Guardian, Yahoo, Traders, Therapeutics, Yahoo Finance, shorting C4 Therapeutics

☆ How Long Does It Take to Get a Tax Refund?
▼ + stars: | 2024-01-15 | by ( E. Napoletano | ) www.wsj.com time to read: +6 min

By E. NapoletanoOver dinner with friends, you toast to having finished this year’s tax return: Everyone’s getting a tax refund! How you file your tax return greatly impacts how quickly your refund arrives. Four ways to get your tax refund fasterThere are a few basic situations where your refund can be delayed. E-fileIf you still put a stamp on your tax return, you may want to upgrade to e-filing. How to check your refund statusNo matter how you file, you can easily check your refund status using the IRS’s Where’s My Refund?

Persons: they’ve, Uncle Sam, Rob Burnette, haven’t, you’ll, “, you’re, Brian Eberle, it’s, Eberle, ” Organizations: Internal Revenue Service, IRS, Outlook Financial, Social Locations: Troy , Ohio, Minneapolis

☆ The head of the National Association of Realtors abruptly resigned. She says she faced a blackmail threat.
▼ + stars: | 2024-01-08 | by ( Associated Press | ) www.businessinsider.com time to read: +2 min

download the appSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Read previewThe National Association of Realtors is grappling with more turmoil in its top leadership ranks just over two months after the trade group's CEO stepped down well before his planned retirement. The Chicago-based organization said Monday that NAR president Tracy Kasper has resigned, effective immediately, and is being succeeded by the trade group's president-elect, Kevin Sears. In a statement, the NAR said Kasper recently received a "threat to disclose a past personal, non-financial matter unless she compromised her position at NAR." In early November, former NAR CEO Bob Goldberg announced he would be stepping down nearly two months before his planned retirement.

Persons: —, Tracy Kasper, Kevin Sears, Kasper, Bob Goldberg, Nykia Wright, Kenny Parcell Organizations: Service, Association of Realtors, Business, NAR, Chicago Sun, Times, The New York Times Locations: Chicago, Kansas City , Missouri, The, Utah

☆ Investors will soon be able to buy slices of bonds. How to decide if this is the right move for you
▼ + stars: | 2024-01-05 | by ( Michelle Fox | ) www.cnbc.com time to read: +4 min

Investors will be able purchase pieces of corporate bonds, Treasurys and eventually, municipal bonds. The idea is to open up opportunities to investors who don't want to spend upward of $1,000 on single corporate bonds. While retail investors can buy individual corporate bonds through brokerages, they often opt for mutual funds or exchange-traded funds, which offer baskets of diversified bond securities. The iShares Broad USD Investment Grade Corporate Bond ETF (USIG) , for instance, tracks the ICE BofA U.S. Corporate Index. For corporate bonds, he suggests looking at actively managed funds, particularly for noninvestment grade and municipal bonds.

Persons: Sam Nofzinger, Nofzinger, Chuck Failla, I'm, Tom Kaiser, Failla Organizations: Public, Corporate, ICE, Sovereign Financial Group, Brock Investment Advisors, Apple, Microsoft, BlackRock Locations: brokerages, TreasuryDirect

☆ India to be world's third-largest economy by 2030 -S&P Global Ratings
▼ + stars: | 2023-12-05 | by ( ) www.reuters.com time to read: +2 min

BENGALURU, Dec 5 (Reuters) - India will remain the fastest-growing major economy for at least the next three years, setting it on course to become the world's third-largest economy by 2030, S&P Global Ratings said in a report. S&P expects India, currently the world's fifth-largest economy, to grow at 6.4% this fiscal and estimates growth will pick up to 7% by fiscal 2027. However, S&P, which had raised its forecast even before the latest data, said India's growth will depend on its successful transition to a manufacturing-dominated economy from a services-dominated one. "A paramount test will be whether India can become the next big global manufacturing hub, an immense opportunity," S&P said in its Global Credit Outlook 2024 report, dated Dec. 4. India has one of the youngest working populations in the world, with nearly 53% of its citizens under the age of 30.

Persons: Narendra Modi's, Nandan Mandayam, Savio D'Souza Organizations: India, Global, Thomson Locations: BENGALURU, India, Bengaluru

☆ Why are real estate commissions 6%? – and why that’s about to change
▼ + stars: | 2023-12-03 | by ( Anna Bahney | ) edition.cnn.com time to read: +9 min

Many thought the internet would eventually kill the 6% real estate commission. Even as the ranks of stockbrokers and travel agents have dropped in recent years as commissions petered out, the number of real estate agents has grown and their typical commissions are bigger than ever as home prices have risen. That is largely because of the power of the National Association of Realtors, an influential lobbying group that represents 1.5 million real estate agents. How real estate commissions workHome sellers are usually on the hook for their real estate agent’s commission as well as for paying the agent that represents the buyer. Real estate agents will tell you commissions are negotiable — and they are.

Persons: Sellers, ”, Jordan Barry, “, Tiffany Hagler, won’t, Babiracki Barlow, “ we’ve, Vasi Organizations: DC CNN, Kansas City, Brookings Institution, stockbrokers, National Association of Realtors, University of Southern, National Association of Real, Exchanges, NAR, Association, Geard, Bloomberg, Getty, realtors, Agents, MLS, Department of Justice, DOJ, California Association of Realtors, New, Real, Board Locations: Washington, New York City, University of Southern California, Larchmont , New York, Boston, New York, New York —, York

☆ Alibaba dips on MS downgrade as PDD grabs spot of most valuable Chinese e-commerce firm
▼ + stars: | 2023-12-01 | by ( ) www.reuters.com time to read: +2 min

Meanwhile, shares of PDD Holdings (PDD.O) have surged this week following stellar quarterly results from the Temu parent. The company closed with a market capitalization of nearly $196 billion on Thursday, surpassing Alibaba's market value of $190.45 billion. They also noted uncertainties from Alibaba's decision to scrap the spin-off of its cloud business. Morgan Stanley cut its price target on the stock to $90 from $110, the second lowest among analysts, as per LSEG data. PDD shares were down 2.1% at $144.4 but have surged almost 80% in 2023, handily outperforming its peers.

Persons: Dado Ruvic, Morgan Stanley, PDD, Alibaba, Morgan Stanley's Eddy Wang, Sruthi Shankar, Sriraj Organizations: REUTERS, Alibaba, PDD Holdings, Wall, Vipshop Holdings, Thomson Locations: China, Alibaba's, Bengaluru

Fabric by Gerber Life launched a new investment account for parents to invest on behalf of their kids. Gerber Life's partner brand, Fabric by Gerber Life, offers affordable term life insurance, free wills — and now a new investment account for your child. Fabric by Gerber Life has launched UGMA custodial accounts on their digital platform so you can invest for your child's future. How to open a UGMA account with Fabric by Gerber LifeOpening an account with Fabric by Gerber Life is simple and only takes about five minutes. Flexible spendingA UGMA account is a type of custodial account that permits parents/guardians to invest on behalf of a child/dependent.

Persons: —, Gerber, you'll, grantor, It's Organizations: Gerber Life, Service, Gerber, Fort Washington Investment Advisors, Social, Capital, IRS, Transportation Locations: There's

☆ U.S. Leans on Turkey to Stop Supporting Hamas and Russia
▼ + stars: | 2023-11-30 | by ( Ian Talley | Jared Malsin | ) www.wsj.com time to read: 1 min

Hamas and other militants hand over newly released hostages as part of a deal with Israel. Photo: Stringer/Zuma PressISTANBUL—The Biden administration’s sanctions chief warned Turkish officials that the country is fueling violence across two continents by serving as a financing haven for Hamas and a trade hub for Russia’s war machine. Despite U.S. sanctions targeting Hamas financiers over the past decade, Turkey has allowed the group’s investment firms, holding companies, real-estate brokerages and a host of other businesses to operate out of Istanbul, U.S. officials say.

Persons: Stringer Organizations: Zuma Press ISTANBUL, Biden, Turkish Locations: Israel, Turkey, Istanbul, U.S

☆ With Meme-Stock Boom Behind It, Robinhood Scours Globe for DIY Investors
▼ + stars: | 2023-11-30 | by ( Hannah Miao | Caitlin Mccabe | ) www.wsj.com time to read: 1 min

Robinhood became synonymous with a new generation of do-it-yourself investors in America. Now it wants to do the same abroad. The digital brokerage on Thursday is opening a wait list for U.K. residents and will grant them early access to its trading app over the next several weeks, with full availability scheduled for early 2024. Robinhood joins other digital brokerages, including Webull and Public, that launched in the U.K. this year.

Persons: Robinhood Locations: America

☆ Why Robinhood Wants British Customers
▼ + stars: | 2023-11-30 | by ( Hannah Miao | Caitlin Mccabe | ) www.wsj.com time to read: 1 min

Persons: Robinhood Locations: America

☆ British-Nigerian man pleads guilty in New York to bank hacking crimes
▼ + stars: | 2023-11-28 | by ( ) www.reuters.com time to read: +2 min

A hooded man holds a laptop computer as blue screen with an exclamation mark is projected on him in this illustration picture taken on May 13, 2017. Idris Dayo Mustapha, 33, pleaded guilty to access device fraud, conspiracy to commit computer intrusion and securities fraud, and conspiracy to commit wire fraud at a hearing before U.S. District Judge Pamela Chen in Brooklyn. Mustapha, a native of Lagos, Nigeria, had been arrested in the United Kingdom in August 2021, and was extradited to the United States in August. The case is U.S. v. Mustapha, U.S. District Court, Eastern District of New York, No. Reporting by Jonathan Stempel in New York; Editing by Cynthia OstermanOur Standards: The Thomson Reuters Trust Principles.

Persons: Idris Dayo Mustapha, Pamela Chen, Mustapha, Jonathan Stempel, Cynthia Osterman Organizations: U.S . National Security Agency, Nigerian, U.S, Prosecutors, Court, Eastern District of, Thomson Locations: British, New York, Brooklyn, Mustapha, Lagos, Nigeria, United Kingdom, United States, U.S, Eastern District, Eastern District of New York

☆ She bought a house without using a realtor. Did you?
▼ + stars: | 2023-11-28 | by ( Jordan Pandy | ) www.businessinsider.com time to read: +5 min

Diem Nguyen recently bought a home near San Francisco without using a real-estate broker. AdvertisementIn October, Diem Nguyen bought a home in the San Francisco Bay Area for $1.6 million — without a realtor. About 88% of homebuyers this year used a real-estate agent, Zillow found . Have you bought a home without a real-estate agent? (Aalto does have a team of real-estate agents working behind the scenes, but they are salaried rather than paid by commission.

Persons: Diem Nguyen, —, Aalto, Buyers, Nguyen, Zillow, Sellers, Jordan Pandy, Ilyce Glink, Samuel J, Tamkin Organizations: Service, San Francisco Bay Area, country's, Buyers, Rocket Mortgage, Washington Post, Sarasota Herald, Tribune Locations: San Francisco, San Francisco Bay, California, Washington, Zillow, Sarasota

☆ This is the best place to park cash to use for your next stock buys
▼ + stars: | 2023-11-26 | by ( Zev Fima | ) www.cnbc.com time to read: +5 min

According to money market tracker Crane Data , the average yield of the 100 largest money market funds is 5.19%. Money market funds vs. money market accounts Not to be confused with money market accounts (and other types of deposit accounts), money market funds are low-risk investments — and as such, they are not backed by the Federal Deposit Insurance Corporation (FDIC). Forbes put together a list of top money market funds from some of the biggest brokerages in the nation. To be sure, as CNBC Select points out, there are high-yield savings and money market accounts out there with yields approaching those from money market funds. But we want to emphasize that these were rare events and money market funds are considered very low-risk investments.

Persons: Jim Cramer, Louis P, Forbes, you'll, Jim Cramer's, Jim Organizations: Federal Deposit Insurance Corporation, CNBC, Jim Cramer's Charitable, New York Stock Exchange, Bloomberg, Getty Locations: New York, U.S

The logo of NVIDIA as seen at its corporate headquarters in Santa Clara, California, in May of 2022. The company was set to erase more than $40 billion in market capitalization if losses hold, based on its current share price of $482.20. Nvidia, which has been at the forefront of artificial intelligence developments with its tailor-made graphics processing units, said its China business will take a hit from tighter export controls. Still, it forecast current-quarter revenue of $20 billion, plus or minus 2%, beating analysts' average estimate by more than $2 billion, according to LSEG data. "This disconnect between stellar earnings and an uncertain future in China is causing investor concern," said Scott Acheychek, CEO of REX Shares, which offers a fund linked to Nvidia shares.

Persons: Scott Acheychek, Nvidia's, Kyle Rodda, NVDA, Stifel, Arsheeya Bajwa, Chavi Mehta, Arun Koyyur Organizations: NVIDIA, Handout, REUTERS Acquire, Nvidia, REX, Thomson Locations: Santa Clara , California, China, Bengaluru

TOKYO, Nov 17 (Reuters) - Warren Buffett's vote of confidence in Japanese trading houses is helping Mitsubishi Corp (8058.T) overcome long-held investor wariness about its complex global business that covers everything from sausages to natural gas, a top executive said. "Until fairly recently, being an industrial conglomerate had negative connotations," Kobayashi said in an interview. Appointed as the trading house's first chief stakeholder engagement officer in April, Kobayashi is now focused on wooing investors who focus on growth, not just value. Berkshire first announced roughly 5% stakes in August 2020, with Buffett saying the trading houses "have many joint ventures throughout the world and are likely to have more". read moreStill, Mitsubishi is trading at a price-to-book ratio of just a little over 1, or at almost no premium to the value of its assets.

Persons: Warren Buffett's, wariness, Berkshire Hathaway, Kenji Kobayashi, Kobayashi, Itochu, outperforming, Buffett, Benjamin Graham, that's, Anton Bridge, Miho Uranaka, David Dolan, Miral Organizations: Mitsubishi Corp, Berkshire, Reuters, Mitsubishi, Mitsui, Sumitomo, Tokyo Stock Exchange, Nikkei, Columbia University, Thomson Locations: TOKYO, Berkshire, Japan

☆ After a Landmark Verdict, Realtors Ask, ‘What’s Next?’
▼ + stars: | 2023-11-17 | by ( Ronda Kaysen | More About Ronda Kaysen | ) www.nytimes.com time to read: +2 min

Similar suits are making their way through the courts, with more filed after the verdict, adding additional pressure on the industry. The ruling “will reshape the housing market," said Ryan Tomasello, a managing director covering real estate technology at the investment bank Keefe, Bruyette & Woods, affecting “the industry not just from the perspective of the consumer, but from the perspective of real estate brokers and agents.”N.A.R. said it plans to appeal the verdict. Interviews with real estate agents in markets around the country revealed an industry wrestling with its identity and uncertain about the road ahead. Others are convinced that the verdict will result in only modest changes, perhaps a few more disclosure forms atop an endless pile of paperwork.

Persons: brokerages, Ryan Tomasello, Keefe, ” N.A.R Organizations: National Association of Realtors Locations: Missouri

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