Author: News Room

With millions of users worldwide and a reputation for innovative products and services, Spotify Technology S.A. (NYSE:SPOT) has become a major player in the music streaming industry. From just 18 million in 2015, the number of premium Spotify subscribers has swollen to 205 million today, which is a testament to how the company has taken the music-streaming industry by storm, rivaling the likes of Apple Music owned by Apple, Inc. (AAPL) while negating the threats posed by pirated content. The spectacular growth of the company, which is evident from stellar revenue growth in the last 5 years, has not pushed…

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Disclaimer: The text below is a press release that is not part of Cryptonews.com editorial content.Floin is a fintech project that is building a safe and reliable platform for crypto purchases, sales, and storage. It introduces a new crypto business model where quality and security take precedence over quantity and hype. Let’s find out how the approach works out better in the long run when compared to the popular model of regulatory evasion.Floin chooses to embrace compliance, rather than evade Crypto compliance can get nasty. The Paxos-SEC clash is a recent example. It didn’t just pull down BUSD – the asset in scrutiny…

JPMorgan Chase (JPM) on Friday reported first-quarter profit and revenue that roundly beat expectations. The New York-based bank posted a profit of $12.6 billion or $4.10 per share. That’s up from $8.3 billion, or $2.63 per share from the same period a year before. Analysts expected earnings of $3.41 per share, according to Refinitiv. With $3.67 trillion in assets, JPMorgan Chase is the largest bank in the United States and a bellwether for the US economy. “The US economy continues to be on generally healthy footings — consumers are still spending and have strong balance sheets, and businesses are in…

European Central Bank policymakers are reconsidering the path of interest rate hikes in light of last month’s banking turmoil, but remain committed to reining in core inflation.Contagion fears set in motion by the collapse of U.S.-based Silicon Valley Bank in early March led to the downfall of several other regional lenders stateside, and culminated in the emergency rescue of Credit Suisse by fellow Swiss giant UBS in Europe.Though panic at the time led to a flight of investors and depositors from the global banking sector, the market has since calmed amid a consensus that the bank failures were the result…

Wells Fargo reported growing profits Friday as the bank benefited from higher interest rates, despite building up loan loss reserves.Here’s how the bank did compared with Refinitiv estimates:Earnings per share: $1.23 per share GAAP versus 90 cents a year ago and $1.13 expected.Revenue: $20.73 billion versus $20.08 billion expected.The bank’s shares were up more than 3% in premarket trading after the earnings report.Wells Fargo increased its net income by more than 30% to nearly $5 billion in the first quarter from a year ago. The bank said its net interest income, what it makes lending money minus what it pays…

Higher interest rates are making annuities more popular than ever. But despite rising annuities sales, misunderstandings keep many people from taking advantage of annuities. Insurers have been dealing with waves of applications in 2023 as yields on multi-year guaranteed annuities (MYGAs) leapt to 3%, 4%, and then above 5%. Let’s look at the misunderstandings that keep people from adding annuities to their financial plans and consider the ways annuities can be customized to meet different goals. There are several types of annuities. In this post, I focus on the more conservative, low-cost annuities that should be considered in many retirement…

If you’re overwhelmed with credit card debt, you can kick-start your payoff plan today with these three counterintuitive strategies. If you’re feeling the squeeze, and even a little bit of shame, you are not alone. About one-third of Americans carry credit card debt from month to month, up 6% from 2022, according to a January 2023 Bankrate survey of 2,458 U.S. adults. February marked a record high $4.82 trillion for consumer credit in the United States, according to a new report from the Federal Reserve. With interest rates higher than previous years, you may notice that your balances are rising…

Union Pacific (NYSE: UNP) will report its Q1 2023 results on Thursday, April 20. We expect it to post upbeat results, with revenue and earnings coming in slightly above the street expectations. The company should continue to benefit from better price realization. However, our forecast indicates that UNP stock has little room for growth, as discussed below. Our interactive dashboard analysis of Union Pacific Earnings Preview has additional details. (1) Revenues expected to be slightly above the consensus estimates Trefis estimates Union Pacific’s UNP Q1 2023 net revenues to be around $6.15 billion, reflecting a 5% y-o-y growth and slightly…

Two months ago, we wrote that after realizing gains of 31%, it was time to take a time out on Tesla at the $208.31 price when our firm stated: “Right now, our technical analysis is at odds with our fundamental analysis, which is often good news, as it means we will be afforded a lower entry on a stock position we plan to build.” This analysis proved accurate as the stock topped around the time our last article was written and is trading at $180 today. Price action is key, yet what’s most important from our last article is that…