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What It Was Like to Be a Jewish Banker
  + stars: | 2023-11-14 | by ( Jacob Goldstein | ) www.nytimes.com   time to read: +1 min
THE MONEY KINGS: The Epic Story of the Jewish Immigrants Who Transformed Wall Street and Shaped Modern America, by Daniel SchulmanOn Feb. 6, 1904, a group of powerful Jewish men met at the Fifth Avenue mansion of Jacob Schiff. Then he asked the same question my grandfather used to ask: What does it mean for the Jews? Schiff is the book’s central figure, and by the early 20th century, on the eve of the Russo-Japanese War, his influence had spread beyond Wall Street. At the time, Jews were being raped and murdered in yet another series of pogroms in imperial Russia. These attacks burned such a lasting scar on the Jewish psyche that, earlier this year, an Israeli major general was moved to compare the slaughter of Israeli civilians on Oct. 7 to “a pogrom from our grandparents’ time.”
Persons: Daniel Schulman, Jacob Schiff, Schiff, ” Daniel Schulman, , Adolph Ochs, Oscar Straus, Theodore Roosevelt’s, Hague, Organizations: Jewish Immigrants, The New York Times, Russo Locations: German, Japan, Russia, United States, Japanese, Wall,
Silvergate Capital — The crypto lender's stock sank 23% after the company announced it will wind down operations and liquidate Silvergate Bank. Revenue came in at $150.2 million, topping the $145 million expected. CEO Dustin Moskovitz also said he was buying 30 million shares. Revenue came in at $103.5 million compared to the $101.7 million expected. Adjusted earnings per share came in 1 cent ahead of estimates at 18 cents.
Nov 4 (Reuters) - PayPal Holdings (PYPL.O) shares dropped 7% in premarket trading as the payments processor cut its annual revenue forecast, warning of a bleak holiday quarter as consumers cut back on discretionary spends. Decades-high inflation has hit the purchasing power of consumers who also have to contend with the threat of a looming recession. PayPal said lower- and middle-income households had started to cut discretionary spending, as they grapple with higher prices of food, energy and gas. The San Jose, California-based company cut its adjusted revenue growth outlook to 10% from 11% forecast earlier. The company also said holiday-quarter e-commerce spending was likely to grow in low single digits, in line with expectations from several companies including Mastercard (MA.N), which last month forecast downbeat fourth-quarter revenue.
Nov 3 (Reuters) - Online payments firm PayPal Holdings Inc (PYPL.O) cut its annual revenue growth forecast in anticipation of a broader economic downturn and said it did not expect much growth in its U.S. e-commerce business in the holiday quarter. The San Jose, California-based company cut its adjusted growth outlook for the year to 10% from 11% previously. Chief Executive Daniel Schulman blamed "a challenging macro environment, slowing e-commerce trends and an unpredictable holiday shopping season" for the company's prudent forecast. "We think that e-commerce is going to be pretty muted in the fourth quarter," Schulman said in a post-earnings call. Last week, payments giant Mastercard Inc (MA.N) also forecast weaker-than-expected revenue growth for the holiday quarter.
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