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☆ Marqeta shares plunge more than 30% on big forecast miss
▼ + stars: | 2024-11-04 | by ( Mackenzie Sigalos | ) www.cnbc.com time to read: +2 min

Marqeta shares tumbled more than 30% in extended trading on Monday after the company issued weaker-than-expected guidance for the fourth quarter. The payment processing firm said revenue in the fourth quarter will increase 10% to 12% from a year earlier. Marqeta, which primarily functions as a card-issuing platform, attributed the guidance miss to "heightened scrutiny of the banking environment and specific customer program changes." Total processing volume of $74 billion was up more than 30% from a year earlier. The company has been trying to break into the buy now, pay later business with a recently launched product called Marqeta Flex.

Persons: it's, Simon Khalaf Organizations: LSEG, Analysts, Mastercard, Visa, CNBC Locations: Las Vegas, BNPL

Residents of the Jabalya refugee camp are seen after being detained by the Israeli military as they attempt to flee their homes amid ongoing ground operations, in Jabalya. Obtained by CNNThe photo shows a large crowd of more than 200 people, crouching low amid the rubble of Jabalya in northern Gaza. One of them, Muhannad Khalaf, said he, his wife and their infant son were trying to escape the camp using a designated safe corridor when the Israeli military stopped them. “We were all gathered in one place – men, women, children, and the elderly. They were insulting us during that time, calling us names, laughing and taking pictures,” the 27-year old told CNN.

Persons: There’s, Muhannad Khalaf, ” Organizations: CNN, Israeli Locations: Jabalya, Gaza

☆ Israeli soldiers forced Palestinian men to take off their clothes as they evacuated war-torn Jabalya, photo shows
▼ + stars: | 2024-10-29 | by ( Abeer Salman | Ivana Kottasová | ) edition.cnn.com time to read: +7 min

The photo, taken in Jabalya on Friday, shows residents of the refugee camp who tried to leave the area after being forced by the Israeli military to evacuate amid its ongoing ground operation there. The photo was first shared on an Israeli Telegram channel; while it is unclear who took it, several of the men in the picture told CNN Israeli soldiers were photographing them as they were being detained. They were insulting us during that time, calling us names, laughing and taking pictures,” the 27-year old told CNN. Jouri’s father Mohamad Abu Ward told CNN he was forced to strip to his underwear and was held for eight hours alongside Jouri. “Individuals suspected of involvement in terrorist activity are being detained and questioned,” the IDF told CNN in a statement.

Persons: There’s, Muhannad Khalaf, ”, Khalaf, Abu Ward, Mohamad Abu Ward, Israel, Balkees Jarrah Organizations: CNN, Israeli, Israel Defense Forces, Jouri, IDF, Cross, United Nations, International Commission of, Rights Watch, Amnesty International, Human Rights Watch Locations: Gaza, Jabalya, Gaza City, Northern Gaza, Geneva, Palestinian Territory, Israel

☆ Marqeta CEO on Q2 earnings, consumer trends and the end of cash
▼ + stars: | 2024-08-09 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailMarqeta CEO on Q2 earnings, consumer trends and the end of cashSimon Khalaf, Marqeta CEO, joins 'Power Lunch' to discuss the payments business and BNPL trends.

Persons: Simon Khalaf

☆ Marqeta CEO Simon Khalaf: Consumers appear to be 'resilient' despite recession fear
▼ + stars: | 2024-05-10 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailMarqeta CEO Simon Khalaf: Consumers appear to be 'resilient' despite recession fearMarqeta CEO Simon Khalaf joins CNBC's 'The Exchange' to discuss the digital payment landscape, consumer behavior, and more.

Persons: Simon Khalaf

☆ Marqeta CEO: Buy now, pay later is a mechanism to fund the economy
▼ + stars: | 2024-04-11 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailMarqeta CEO: Buy now, pay later is a mechanism to fund the economyMarqeta CEO Simon Khalaf argues that buy now, pay later is a mechanism for merchants to fund the economy.

Persons: Simon Khalaf

☆ Turning a tiny fraction of America's dead strip malls into housing could create 700,000 new apartments
▼ + stars: | 2023-11-03 | by ( Eliza Relman | ) www.businessinsider.com time to read: +5 min

Old or vacant strip malls offer a promising opportunity to create much-needed new housing. A new report found that converting 10% of strip malls into housing could create 700,000 new homes. Urban planners and developers across the country are pushing a fix for both: converting strip malls into housing. But when it comes to strip mall conversions, finding the right property to redevelop is the bigger challenge. And older strip malls are often costlier to maintain than to tear down and redevelop.

Persons: —, Ahmad Abu, Khalaf, It's Organizations: Service, Enterprise Community Partners, International Council of Shopping Centers, Sears Locations: Ahmad, Cities, Abu, Santa Ana , California, Irondequoit , New York

☆ Marqeta CEO talks new credit card issuing platform
▼ + stars: | 2023-10-23 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailMarqeta CEO talks new credit card issuing platformSimon Khalaf, Marqeta CEO, joins 'Closing Bell Overtime' to talk the company's new credit card issuing platform for brands.

Persons: Simon Khalaf

☆ Want to retire in 5 years? Here’s how to invest for it, according to the pros
▼ + stars: | 2023-10-16 | by ( Amala Balakrishner | ) www.cnbc.com time to read: +5 min

So, what are the best investment strategies if you are looking to retire in around five years' time? This calls for a much higher exposure to riskier assets like stocks, says Stevenson. Stock/bond/cash split When deciding how to plan assets across stocks, bonds and cash, the pros say an appropriate balance between short-term stability and long-term growth potential is key. For someone in their 50s looking to retire soon, Ward suggests allocating 65%-85% of their assets to stocks and the remaining 15%-35% in bonds. Bullish on Japan, tech plays Within each asset allocation, the importance of diversification should not be overlooked, according to the pros.

Persons: Tom Stevenson, Stevenson, Thomas Poullaouec, Rowe Price, Laith Khalaf, AJ Bell, Fidelity's Stevenson, Fidelity's Stevenson reckons, Judith Ward, Ward, Poullaouec Organizations: Fidelity International Locations: Bullish, Japan, China, Europe

☆ Taliban stopped 100 women flying to Dubai for university scholarships, UAE billionaire says
▼ + stars: | 2023-08-23 | by ( Charlotte Greenfield | ) www.reuters.com time to read: +2 min

[1/2] Afghan women shout slogans during a rally to protest against what the protesters say is Taliban restrictions on women, in Kabul, Afghanistan, December 28, 2021. REUTERS/Ali Khara/File Photo Acquire Licensing RightsAug 23 (Reuters) - The head of a Dubai-based conglomerate on Wednesday said Afghanistan's Taliban authorities had stopped around 100 women from travelling to the United Arab Emirates where he was to sponsor their university education. Spokespeople for the Taliban administration and Afghan foreign affairs ministry did not immediately respond to Reuters requests for comment. They allow Afghans to leave the country but usually require Afghan women travelling long distances and abroad to be accompanied by a male chaperone, such as their husband, father or brother. Reporting by Charlotte Greenfield and Maha El Dahan Editing by Bill BerkrotOur Standards: The Thomson Reuters Trust Principles.

Persons: Ali Khara, Khalaf Ahmad Al Habtoor, Al Habtoor, Charlotte Greenfield, Maha El, Bill Berkrot Organizations: REUTERS, United, United Arab Emirates, Al, UAE, Thomson Locations: Kabul, Afghanistan, Dubai, United Arab, Maha

☆ Wall Street starts fretting about US debt again after months of easy stock-market gains
▼ + stars: | 2023-08-02 | by ( Joseph Wilkins | George Glover | ) www.businessinsider.com time to read: +3 min

Stocks have racked up easy gains over the past few months thanks to AI and cooling inflation. But investors are suddenly worried about debt again after Fitch slashed its credit rating for the US. The last time this happened was 2011 – and the S&P 500 took six months to recover its losses. Get the inside scoop on today’s biggest stories in business, from Wall Street to Silicon Valley — delivered daily. In response, the S&P 500 dropped 6.5% and took a further six months to recover its losses.

Persons: Fitch, –, It's, Stocks, AJ Bell's, Laith Khalaf, Fitch's, Ray Dalio Organizations: Service, Poor's, House Locations: Wall, Silicon, –, Washington –, Canada

☆ Fitch's US debt-rating downgrade is bad news for stocks. Here's everything you need to know.
▼ + stars: | 2023-08-02 | by ( George Glover | ) www.businessinsider.com time to read: +4 min

The downgrade comes two months after Joe Biden and House Republicans reached an 11th-hour deal to stop a catastrophic default. Get the inside scoop on today’s biggest stories in business, from Wall Street to Silicon Valley — delivered daily. Here's everything you need to know about the ratings agency's shock move. Fitch said the last-minute debt-ceiling deal after months of shutdown had failed to convince it that Congress will be able to avert future calamities. As debt-ceiling negotiations dragged on earlier this year, the White House warned stocks could crash 45% if the government ever failed to repay its debts – so even a downgrade is bad news for the market.

Persons: Fitch, Joe Biden, Stocks, Joe Biden's, Biden, it's, AJ Bell's, Laith Khalaf, Fitch's, Janet Yellen, Larry Summers Organizations: House Republicans, Service, AAA, Social Security, House, Nasdaq, CME Group, Dow Jones, P Global, Biden Locations: Wall, Silicon, Europe, Asia

☆ Goldman Sachs CIO says it's important to decide who in a firm to 'superhumanize' with AI technology
▼ + stars: | 2023-05-11 | by ( Paige Hagy | ) www.businessinsider.com time to read: +3 min

Goldman Sachs' Marco Argenti told a conference how he assesses AI's return on investment. Firms can use AI to "superhumanize" talent, Argenti said. The top financial services firms, like Goldman Sachs, are looking to use artificial intelligence to "superhumanize" their talent. Generative artificial-intelligence will enhance productivity and efficiency across financial services, according to Marco Argenti, chief information officer at Goldman Sachs. Within Goldman Sachs, Argenti said the bank is looking to apply generative AI to data management, data classification, and workflow creation.

☆ MetLife profit drops as economic worries hurt investment income
▼ + stars: | 2023-05-03 | by ( ) www.reuters.com time to read: +1 min

May 3 (Reuters) - MetLife Inc's (MET.N) first-quarter profit missed Wall street estimates on Wednesday as growing economic uncertainty hurt the insurer's investment income, sending its shares down 2% in extended trading. Adjusted net investment income fell 8% to $4.6 billion in a quarter marred by a string of high-profile bank collapses that roiled financial stocks. "We remain focused on managing risk across economic cycles and controlling what we can to deliver for our shareholders and our stakeholders," Khalaf said. Adjusted premiums, fees and other revenues - excluding pension risk transfers (PRT) at MetLife - rose 3% to $11.54 billion. Rival insurer Prudential Financial Inc (PRU.N) had reported a lower-than-expected quarterly profit on Tuesday due to a decline in its assets under management.

☆ Here’s how payment players have fared post-SVB
▼ + stars: | 2023-03-20 | by ( ) www.businessinsider.com time to read: +3 min

Affirm said SVB was neither a funding partner nor an originating bank partner, and that large banks held the majority of its operating accounts. While it initially paused disbursements to merchants that had SVB accounts, it later resumed those transactions. While it initially paused disbursements to merchants that had SVB accounts, it later resumed those transactions. Issues with payment processing , accessing capital, and cryptocurrency implications emerged in the wake of SVB’s collapse. However, many are still getting the cold shoulder from those large banks, and their account opening times can be longer than startup-focused lenders.

☆ Lebanon banks 'have no liquidity,' says banking association's secretary general
▼ + stars: | 2023-03-08 | by ( ) www.reuters.com time to read: 1 min

BEIRUT, March 8 (Reuters) - Lebanon's commercial banks do not have enough liquidity to pay back depositors, the secretary general of the country's banking association said on Wednesday in a letter that laid out the banks' positions. The letter was signed by the Association of the Banks of Lebanon (ABL)'s Fadi Khalaf and served as the introduction to the ABL's monthly report. The letter said commercial banks had approximately $86.6 billion deposited at Lebanon's Central Bank as of mid-February, and a net negative position with correspondent banks of $204 million as of Jan. 31, 2023. "These numbers show without a doubt that the banks have no liquidity," Khalaf wrote. Reporting by Maya Gebeily Editing by Peter GraffOur Standards: The Thomson Reuters Trust Principles.

The Codex Sassoon, dating from the late 9th or early 10th century, sold for $38.1 million at Sotheby’s in New York on Wednesday. It is believed to be the earliest and most complete Hebrew Bible. The Codex Sassoon fell short of its high estimate of $50 million, however. A rare findThe Codex Sassoon is believed to be the very first codex, or manuscript in book form, of the Hebrew Bible. Top image: A woman examines the centuries-old Hebrew Bible.

That has rendered a community that experts estimate to be 7 million to 8 million people invisible, underrepresented and unnoticed. There's power in numbers, Berry said, and as it is now, much of the research on the American MENA community is anecdotal because of the lack of an identifier. "Small-business owners in the community would be able to take advantage of grants that we're not entitled to, because we're factored into the white category." 'It's like déjà vu'It isn't the first time the U.S. has concluded that a MENA category is necessary. It's a processThe recommendation for the OMB to adopt a MENA category is just that — a recommendation.

☆ Youth in Spain see jobs gain after years of instability
▼ + stars: | 2022-12-19 | by ( Belén Carreño | ) www.reuters.com time to read: +5 min

Youth unemployment rates that reached more than 55% in the years after the financial crisis fell to 31% in the third quarter - against an overall unemployment rate of 12.6%, according to the National Statistics Office, INE. Youth unemployment is a chronic problem in southern European countries. Greece, whose rates of youth unemployment are similar to Spain's, wants to reduce its youth unemployment rate to 18% by 2030 and is introducing subsidies for pension and health fund costs to reduce labour costs, as well as special training programmes. Previously, employers used temporary contracts as a safety net in times of crisis. Before the labour reform, the rate of temporary contracts, which in the last decade has been around 25% of all jobs, resulted in a high turnover of jobs, inflating the overall unemployment rate.

☆ No signs of crypto spilling over into traditional assets – yet, analyst says
▼ + stars: | 2022-12-16 | by ( Hannah Ward-Glenton | ) www.cnbc.com time to read: +1 min

Billions of dollars were lost when the exchange FTX collapsed, raising questions about whether movements in the crypto sphere could ricochet through to other financial systems. There are "no signs of spillover" from cryptocurrency into more traditional assets, according to an investment analyst from AJ Bell. A 'highly volatile' assetKhalaf was reluctant to make predictions as to where cryptocurrency will go next because it's so changeable as an asset. And while there are questions as to the long-term adoption of cryptocurrency, Khalaf made one point with a lot of certainty. "For the foreseeable, [cryptocurrency] remains highly volatile and speculative asset," he said.

☆ NATO chief says Russia wants a 'freeze' in Ukraine fighting so it can prepare for a renewed assault early next year
▼ + stars: | 2022-12-08 | by ( Sinéad Baker | ) www.businessinsider.com time to read: +2 min

Russia wants a pause in Ukraine fighting to prepare for a bigger attack next year, NATO's head said. Jens Stoltenberg said Russia is trying to enact some kind of "freeze" of the war. Russia would then try to "launch a bigger offensive next spring," he said. "And then try to launch a bigger offensive next spring." He responded by stressing NATO members' support for the country, and said that Russia had "underestimated the strength of NATO Allies and partners in our commitment to stand by Ukraine, to support Ukraine."

☆ Nasdaq futures drop over 1% as weak tech earnings fan slowdown fears
▼ + stars: | 2022-10-26 | by ( Amruta Khandekar | ) www.reuters.com time to read: +3 min

Shares of Meta Platforms (META.O) fell 3.9% and Pinterest (PINS.N) 4.1% as they rely on ad revenue. U.S.-listed shares of Spotify Technology dropped 5.7%, as margins came under pressure from a slowdown in ad growth. ET, Dow e-minis were down 37 points, or 0.12%, S&P 500 e-minis were down 27 points, or 0.7%, and Nasdaq 100 e-minis were down 186 points, or 1.59%. A bright spot was Visa Inc (V.N), whose shares rose 1.3% after the payments processor topped quarterly profit estimates on strong travel demand. Reporting by Amruta Khandekar and Shreyashi Sanyal in Bengaluru; Editing by Saumyadeb Chakrabarty and Arun KoyyurOur Standards: The Thomson Reuters Trust Principles.

☆ Big Tech tumbles as results sound alarm bells
▼ + stars: | 2022-10-26 | by ( ) www.reuters.com time to read: +3 min

Meta Platforms Inc (META.O), which is scheduled to report after markets close on Wednesday, was trading 4% lower. Amazon.com Inc (AMZN.O) and Apple Inc (AAPL.O), both due to report on Thursday, were down about 4% and 1%, respectively. While most Big Tech stocks have edged higher in the past few weeks, overall it has been a bleak year for the sector. Netflix, Meta, Amazon, Microsoft, Alphabet and Apple have already lost a combined $2.5 trillion in market value so far this year. read moreReporting by Yuvraj Malik and Akash Sriram in Bengaluru; Editing by Saumyadeb ChakrabartyOur Standards: The Thomson Reuters Trust Principles.

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