Author: News Room

Bilt Rewards, a company that allows Americans to be rewarded for paying their rent, on Wednesday announced a $200 million equity investment, which thrusts the company’s valuation to $3.1 billion as business heavyweight Ken Chenault and NFL Commissioner Roger Goodell were added to its board.  The investment, led by General Catalyst, also has significant contributions by Eldridge, along with existing investors Left Lane Capital, Camber Creek and Prosus Ventures.”This capital raise and the addition of industry titans like Ken Chenault and Roger Goodell to our board are a testament to Bilt’s innovative vision. We’re not just building a loyalty program; we’re…

President Biden just announced his new plan to provide student loan debt relief. When paired with the other cancellations the Biden Administration has provided, this relief would apply to more than 30 million Americans. The President traveled to Madison, Wisconsin to reveal his plans. If implemented, these plans would eliminate accrued interest for 23 million borrowers and would cancel the debt for more than four million borrowers. An additional 10 million borrowers would receive at least $5,000 in debt relief, a slight adjustment to Biden’s original student loan debt cancellation that would have provided $10,000 in forgiveness for many borrowers.…

February added 275,000 jobs, posting another consecutive month of solid job growth, according to the latest Employment Situation Summary from the U.S. Bureau of Labor Statistics (BLS).  Job growth was short of January’s original tally of 353,000 jobs but above the revised number, which showed job growth was just 229,000. December and January combined were 167,000 lower than previously reported. February’s job growth was seen across several industries, including health care, government, food services and drinking places, social assistance, and transportation and warehousing.The unemployment rate increased by 0.2 percentage points from the previous month to 3.9%, pushing the number of unemployed people in the…

Investing.com – France stocks were mixed after the close on Monday, as gains in the , and sectors led shares higher while losses in the , and sectors led shares lower. At the close in Paris, the lost 0.10%, while the index climbed 0.15%. The best performers of the session on the were Eurofins Scientific SE (EPA:), which rose 2.04% or 1.14 points to trade at 57.08 at the close. Meanwhile, Unibail-Rodamco-Westfield SE (EPA:) added 1.66% or 1.18 points to end at 72.06 and Bouygues SA (EPA:) was up 0.90% or 0.33 points to 36.96 in late trade. The worst…

By Erin Flynn Jay, Next Avenue Liz Elting was a 26-year-old graduate student in 1992 when she cofounded a business in her dorm room, a language-translation service that grew into a $1.1 billion company called TransPerfect. She cashed in her stake in 2018 but has no intention of retiring — and doesn’t think you should, either. Elting established a charitable foundation (Elizabeth Elting Foundation) when she left TransPerfect, and she is still looking for opportunities, saying it’s never too late for older adults to start something new. “They’ve learned a lot by the time they’re 50 plus, 60 plus, 70…

By Selena Li and Summer Zhen HONG KONG (Reuters) – China’s financial sector regulator is looking into the exposure of the Hong Kong units of domestic banks and insurers to the country’s local government debt, three sources with knowledge of the matter said, as part of its efforts to contain credit risks. The National Financial Regulatory Administration (NFRA) asked the Hong Kong-based units of Chinese banks and insurers this week to report their holdings of dollar debt issued by so-called local government financing vehicles (LGFV), said the sources. The regulator mainly asked them to reveal their exposure to offshore bonds…

Investing.com – The U.S. dollar firmed in early European trade Wednesday, shrugging off signs of U.S. economic weakness ahead of the release of this week’s key inflation data as traders look for clues as to when the Federal Reserve will start cutting interest rates. At 04:00 ET (09:00 GMT), the Dollar Index, which tracks the greenback against a basket of six other currencies, traded 0.3% higher at 104.080.  U.S. inflation to prove sticky? Data released on Tuesday showed that orders for U.S. fell a hefty 6.1% last month, while the Conference Board’s was revised lower for January and declined further…

By Jarrett Renshaw and Leah Douglas (Reuters) -The Biden administration on Friday said its new climate modeling for sustainable aviation fuel feedstocks will be released in a matter of weeks, marking a delay sources said was due to disagreements over details of the revisions. The slow progress on the revised modeling has frustrated the biofuels industry by extending uncertainty over whether corn-based ethanol will be able to qualify for lucrative new subsidies for SAF production included in the Inflation Reduction Act. A White House spokesperson said the revised model would be finalized in the coming weeks. The administration has been…

President Joe Biden defended his handling of the economy hours after a key economic report found that progress on slowing inflation has stalled, a continued bane on Biden’s presidency. US consumer prices picked up again last month, marking a 3.5% increase for the 12 months ended in March, according to the latest Consumer Price Index data released Wednesday by the Bureau of Labor Statistics. Inflation has dogged the president and his approval ratings on the economy have suffered as prices have soared following the easing of the Covid-19 pandemic. Biden pointed to success “dramatically” reducing the rate of inflation from…

Stay informed with free updatesSimply sign up to the US inflation myFT Digest — delivered directly to your inbox.Traders slashed bets on Federal Reserve interest rate cuts on Wednesday after US inflation surpassed expectations and Joe Biden acknowledged there was “more to do” on fighting price rises.Bond yields jumped, stocks slid and markets pushed back their forecasts of summer rate cuts after official data showed a 3.5 per cent increase in consumer prices for the year to March.“Today’s report shows inflation has fallen more than 60 per cent from its peak, but we have more to do to lower costs…