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Fed Says it Will Unwind Balance Sheet 'Relatively Soon'
The Federal Reserve Open Market Committee (FOMC) left rates unchanged at its meeting on Wednesday, but indicted that it would begin unwinding its $4.5-trillion balance sheet "relatively soon," as Bloomberg reports. The Fed signaled last month that it would begin winding down its $4.5-trillion portfolio of Treasury and mortgage securities as long as the economy grows as broadly as projected. The
Report: Global VC-Backed Fintech Funding Set For Record High in '17
FinTech
After a sluggish Q1, global venture capital-backed funding of fintech companies rebounded to the tune of of $5.2 billion raised across 251 deals in the second quarter, according to the latest report from data provider CB Insights. In fact, CB Insights notes that global VC-backed investments in fintech companies are on pace to rise 19% from 2016, which would surpass the
Lyft and Taco Bell Unite to Form Late-Night Dream Team
Lifestyle
Nightshift workers, stoners and bad hombres – prepare to celebrate. NYT reports that ride-sharing app Lyft have teamed up with beloved fast food chain Taco Bell to create what appears to be a college students pipe dream: Lyft - Taco Mode. The initial test region for the concept, which will allow Lyft customers to add in a Taco Bell drive-through
Amazon Market Cap Reaches $500 Billion
For the first time, Amazon’s market capitalization has climbed above the half trillion mark, reports The Wall Street Journal. Investors have shown tremendous faith in the tech giant’s trajectory, the Journal notes, and Wednesday morning’s market value of $502.8 billion proves that confidence has been warranted. Amazon isn’t alone in its skyrocketing value – investors have sided profoundly with a
Trump Blasts Amazon, Washington Post on 'Internet Tax' Evasion: Is That Even a Thing?
The President of the United States Tuesday took to Twitter Inc (NASDAQ: TWTR) to strike at Amazon.com, Inc. (NASDAQ: AMZN) and what he calls the "Amazon Washington Post," and not for the first time. After Trump accused the Washington Post of being “Fake News” he suggested the media company is a lobbyist for the online retailer with which it shares an owner (Jeff Bezos) and accused Amazon
Investment in British Fintech Surges past Pre-Brexit Levels
FinTech
Despite worries to the contrary, fintech investors are still flocking to post-Brexit U.K. Reuters: Over half a billion dollars were poured into British financial technology companies in the first half of 2017, over a third more than the same period last year, trade body Innovate Finance said on Wednesday, in the latest sign the fast-growing sector is so far weathering
Lakewood Capital Bets Against One of China's Richest Billionaires
Hedge Funds
When looking at Lakewood Capital Management’s muted 1.5% quarterly performance, investors might yawn at the hedge fund’s performance. But that belies important differences in the Long / Short strategy, with a particular emphasis on what happened on the short side of the portfolio during the quarter. In the fund’s second quarter letter to investors reviewed by ValueWalk, fund manager Anthony
Fund Manager Allocations
Summary: Global equities have risen 7% in the past 3 months and 16% in the past year, yet fund managers continue to hold significant amounts of cash, suggesting lingering doubts and fears. They have become more bullish towards equities, but not excessively so: less than half expect better profits and a better economy in the next 12 months. Allocations to
Lebron James Adds to Fortune After Pizza Chain Success
Lifestyle
Five years ago, Lebron James, his business partner Maverick Carter and financial adviser Paul Wachter invested $1 million in relatively unknown chain restaurant Blaze Pizza. Now, as ESPN reports, their stake is valued at $25 million. The fast-casual chain just sold an undisclosed stake in the company to Brentwood Associates, a private equity firm, which valued Blaze at roughly $250 million.
7 Funding Alternatives For Female Entrepreneurs
More often than not, pitching VC firms means pleading your case to white men. This is no easy feat for women entrepreneurs who, at best, may be easily dismissed or, at worst, may be taken advantage of. The solution, of course, is to overhaul the culture and demographics of VC firms—but as is the case with male-dominated tech companies, that’s a tall