British neobank, Monzo, announced on Wednesday that it has successfully raised an additional $190 million in funding. This brings their total fundraising for the year up to an impressive $610 million. The company disclosed that the funding came from new investors including Hedosophia, a known backer of top European fintechs such as N26 and Qonto.
Finance
Berkshire Hathaway, under the leadership of Warren Buffet, reported a significant surge in operating earnings in the first quarter of the year. The company’s operating profit reached $11.22 billion, marking a substantial increase of 39% from the previous year. This growth was mainly attributed to the rise in insurance underwriting earnings, particularly driven by the
Exchange-traded funds (ETFs) may have a significant untapped market waiting for them to capture. Calamos Investments’ Matt Kaufman pointed out that there are trillions of dollars sitting in CD and money market accounts, surpassing the size of the ETF space itself. This presents a lucrative opportunity for ETFs to tap into this vast pool of
A former trader at Societe Generale, Kavish Kataria, recently spoke out against the French bank for what he believes was an unjust termination. Kataria claims that he was made a “scapegoat” after being fired for unauthorized risky bets, while the bank failed to acknowledge its own share of responsibility for the oversight in monitoring the
Bitcoin, the world’s most famous digital currency, experienced a significant drop on Wednesday, reaching its lowest level in over two months. The price plummeted to $56,757.93, marking a sharp decline below $57,000 for the first time since February 28. This sudden downturn in value is mainly attributed to broader risk-off sentiment prevailing in the market
In extended trading, Amazon saw a nearly 2% increase in shares after surpassing both top and bottom line expectations for the quarter. With earnings of 98 cents per share on $143.31 billion in revenue, the company outperformed analyst predictions. The advertising and Amazon Web Services segments also exceeded expectations, showing positive growth potential. However, despite
Local Chinese authorities have recently lifted restrictions on Tesla cars following the company’s China-made vehicles meeting the country’s stringent data security requirements. This significant development comes after Tesla CEO Elon Musk’s unexpected meeting with Chinese Premier Li Qiang during the first major auto show in Beijing in four years. The news of the removal of
Investing in technology can be a lucrative endeavor, but it requires a deep understanding of the market trends and emerging technologies. According to Brett Winton, chief futurist at ARK Invest, there are five key areas that tech investors should focus on to gain a competitive edge. These areas include robotics, artificial intelligence, multi-omics sequencing, public
In the rapidly evolving landscape of China’s electric car market, companies like Nio and Xpeng are pivoting towards the lower-priced segment with the unveiling of new mass market brands this year. This strategic move is aimed at competing directly with established players such as BYD and Volkswagen, as well as catering to the growing demand
Synthesia, an artificial intelligence company backed by Nvidia, has recently introduced a groundbreaking development in the realm of digital avatars. Their latest creation, known as “Expressive Avatars,” has the ability to convey human emotions simply through text inputs. This innovative technology has the potential to blur the lines between virtual characters and real individuals, opening