Category: Money

  • Grab Achieves Profit on Adjusted Basis

    Grab Achieves Profit on Adjusted Basis

    Grab has hit a significant financial milestone. For the first time since its inception in 2012, Grab has reported a profit on an adjusted basis, a promising development for investors concerned about the company’s profitability. In the quarter ending September, Grab posted an adjusted EBITDA (earnings before interest, tax, depreciation, and amortization) of $29 million,…

  • Shein Targets $90 Billion Valuation in Upcoming IPO

    Shein, the Singapore-based fast fashion giant, is setting its sights high for its U.S. initial public offering (IPO), targeting a valuation between $80 billion and $90 billion, as reported by Bloomberg. This ambitious valuation marks a significant increase from its $64 billion valuation earlier this year and slightly below its peak valuation of $100 billion…

  • Uber releases Q3 financials

    Uber releases Q3 financials

    Uber Technologies Inc (NYSE:UBER) has delivered a good performance in Q3 2023, showcasing a robust recovery with a net income of $221 million. This marks a significant reversal from the net loss of $1.2 billion in Q3 2022. The company’s growth narrative is compelling, with Gross Bookings surging by 21% to $35.3 billion, indicating a…

  • Mint.com to be sunsetted

    Intuit’s decision to sunset Mint in favor of Credit Karma has unsettled its vast user base. Mint, since 2006, has been a cornerstone in personal finance management, valued for its no-cost, comprehensive budgeting tools. The transition to Credit Karma brings uncertainty, particularly as it lacks Mint’s advanced budgeting features and raises questions about the neutrality…

  • WeWork Chapter 11 bankruptcy

    In a striking turn of events, WeWork, once a darling of the corporate real estate world, has filed for Chapter 11 bankruptcy protection in New Jersey. This move, as stated in their recent press release, is limited to their operations in the U.S. and Canada. With liabilities soaring between $10 billion to $50 billion, the…

  • FTC Cracks Down on Hidden Junk Fees

    The Federal Trade Commission (FTC) is taking a bold step to protect consumers from unexpected “junk fees” by proposing a new rule that mandates upfront disclosure. This move comes after the Biden administration exerted pressure on companies like Ticketmaster and Airbnb to be more transparent about their extra charges. Both companies have committed to making…

  • Lyft Fined $10 Million Over Icahn-Soros Deal

    Lyft Fined $10 Million Over Icahn-Soros Deal

    Lyft Inc. has settled a $10 million fine with the SEC for not disclosing a board director’s role in a share sale involving billionaires Carl Icahn and George Soros, just before the company’s 2019 IPO. The director, identified as Jonathan Christodoro, helped Icahn sell a 2.6% stake in Lyft to Soros at a discounted rate.…

  • California tax refund for car owners

    I’m honestly perplexed by this decision. Even the electric car users will get this. I don’t own a car so I wouldn’t be eligible. This is just a really strange proposal considering that electric car owners would get this offset and people who rely on MUNI and other public transport are not getting this money.…