Author: businessinvestopedia.com

According to Citi, Select Water Solutions will be a winner thanks to recent business changes. The company, which provides sustainable water services to the oil and gas industry, recently began a strategic shift to its water infrastructure business with a focus on managing and recycling produced water. Citi analyst Scott Gruber said Select Water’s largest business line is water services, which is “more closely tied to volatile and cyclical completion activity,” but the company does not emphasize that area. The company’s moves are “supported by trends in the energy industry,” the company said. He is bullish that these changes will…

The siren song for money market funds has gotten a little louder. Cash yields remain high for now, with the timing of the Federal Reserve’s interest rate cuts in doubt. After central bank policymakers stressed last week that there was a “lack of further progress” in curbing inflation, Wall Street differed widely in their expectations for the number of interest rate cuts in 2024, ranging from a minimum of one to a maximum of four. I responded as expected. It also means, at least in the short term, that investors who stash cash are well compensated for doing so. The…

Alternative lender Upstart receives subpoena from Securities and Exchange Commission for fintech disclosures related to use of artificial intelligence models and lendingthe fintech said in its quarterly report on Tuesday. The San Mateo, California-based company announced on November 17, 2023 that it had received the subpoena. Regulators requested various documents and information. “While we are cooperating with the SEC, we cannot predict the outcome of this matter,” Upstart said in the filing. Upstart noted in its quarterly earnings report that the percentage of fully automated loans in the first quarter of 2024 increased to 90% from 84% in the same…

First-time applications for unemployment benefits have reached their highest level since late August 2023, a potential sign that a previously robust labor market is changing.The Labor Department said Thursday that jobless claims for the week ending May 4 rose to a seasonally adjusted 231,000, up 22,000 from the previous quarter and up from the Dow Jones Industrial Average’s estimate of 214,000. exceeded. This is the highest number of claims since August 26, 2023.The increase in claims follows a series of mostly positive employment reports, although employment in April was lower than expected. The number of job openings is also decreasing,…

Fintech company Aspiration announced last month that it had spun off its consumer financial services brand into a separate, independent company in response to growing demand for sustainable financial services. Tim Newell Previously, he led Aspiration’s consumer fintech division while serving as Chief Operating Officer of Aspiration Partners., reached an agreement with the company to spin out the division. He has taken the helm of the new neobank, which continues to operate under the Aspiration brand name. Newell declined to disclose the purchase price, saying only that “we were able to reach an agreement that was satisfactory to both parties.”…

Nodes for sale: This is the latest innovation in the blockchain industry. It’s not about the technology, it’s about how to raise cash from investors. “Node sales” involves selling blockchain nodes directly to investors. This process is ostensibly one that brings in quick cash while giving projects an easy path to decentralization. Although still a relatively new phenomenon in fast-moving cryptocurrencies, it is becoming more common. His distributed GPU cloud infrastructure provider Aethir revealed last week that it distributed licenses for more than 73,000 nodes of his worth over 41,000 ETH ($126 million). Other blockchain projects raising funds through node…

A sign advertising a home for sale is posted outside a building in Manhattan on April 11, 2024 in New York City. BusinessInvestopedia | Getty Images Mortgage rates are significantly higher than they were earlier this year, but they fell slightly last week after rising for several weeks in a row. This was enough to spark new demand, especially for refinancing. The average contract interest rate for 30-year fixed-rate mortgages with conforming loan balances ($766,550 or less) decreased from 7.29% to 7.18%, and the points for loans with a 20% down payment remained unchanged at 0.65 points (including origination fees).…

Brigade of Good | Digital Vision | Getty Images More Americans are paying capital gains taxes on the proceeds of selling a home as real estate values ​​soar, but there are ways to reduce the bill, experts say. Nearly 8% of U.S. home sales made more than $500,000 in 2023, compared with about 3% in 2019, according to an April report from real estate data firm CoreLogic. There’s a reason the report pointed to that threshold. This is the key to special tax breaks for homeowners who sell their primary residence for a profit. Married couples filing jointly can earn…

Monkey Business Image | Getty Most U.S. home buyers who take out a mortgage choose the 30-year fixed rate option, but they may not realize how unusual that offer is. “The 30-year fixed-rate mortgage is a uniquely American structure,” said Greg McBride, chief financial analyst at Bankrate. As the name suggests, a 30-year fixed-rate mortgage spreads the repayment period over 30 years, and the interest rate remains the same over the life of the loan. Jacob Channell, senior economist at LendingTree, said the interest rate at the start of your mortgage won’t change unless you refinance or sell your home.…

Billionaire investor Stanley Druckenmiller said Tuesday that reckless government spending enabled by the Federal Reserve is harming average Americans and jeopardizing President Joe Biden’s re-election chances. He said he was exposing himself. The head of the Duquesne family office, who made a name for himself betting on the British pound in the early 1990s, criticized fiscal and monetary authorities, including Treasury Secretary Janet Yellen and Federal Reserve Chairman Jerome Powell. He also called Bidenomics a failure and said consumers were paying the price in higher inflation. “There seems to be a lot more awareness about the fiscal situation we’re in.…