By Natalie DeCoste The Public Company Accounting Oversight Board (PCAOB) is getting an overhaul by the Securities and Exchange Commission after years of dysfunction. The PCAOB is a nonprofit corporation established by Congress to oversee the audits of public companies to protect investors and further the public interest through the preparation of independent audit reports. The PCAOB [...]
By Natalie DeCoste When the pandemic started, consumers tightened their purse strings and slowed their spending. With COVID restrictions lifting, Americans are borrowing once again, now at decade-high levels. According to credit-reporting firm Equifax, consumer demand for auto loans and leases, general-purpose credit cards, and personal loans was up 39% in April compared to the same period [...]
By Natalie DeCoste The popular trading app Robinhood filed to go public last week, revealing significant amounts of revenue as the United States Securities and Exchange Commission (SEC) sets its sights on the way the company makes its money. In the online brokerage company’s IPO filing released last Thursday, Robinhood disclosed that it made 81% of its [...]
By Natalie DeCoste Visa announced Wednesday that more than $1 billion worth of cryptocurrency was spent by consumers globally on goods and services through crypto-linked cards during the first six months of the year. "We are doing a lot to create an ecosystem that makes cryptocurrency more usable and more like any other currency. People are exploring [...]
By Natalie DeCoste One of the most popular vacation rental platforms, Airbnb, has blocked tens of thousands of rentals as part of the company’s efforts to stop partiers. It was reported that Airbnb blocked or redirected what the company labeled as “potentially risky reservation attempts” from over 50,000 people across 15 U.S. cities as part of a [...]
By Natalie DeCoste The Federal Trade Commission (FTC) filed charges against semiconductor manufacturer Broadcom on July 2 over allegations that the company illegally monopolized the market for semiconductor components. The FTC announced that it filed a complaint against Broadcom for illegally monopolizing markets for semiconductor components through exclusive dealings. These semiconductor chips are used to deliver television [...]
By Natalie DeCoste This week’s report on initial jobless claims by the Labor Department reveals that workers filing for benefits have hit a new pandemic record, and this time it’s for the better. The Labor Department reported that seasonally adjusted initial claims are 364,000, a decrease of 51,000 from the previous week’s revised level. The latest [...]
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