Canadian Tire’s Q2 2024 Sees Credit Card Write-Offs Remain High
Canadian Tire Corporation (TSX: CTC.A) released its second-quarter results for the period ending June 29, 2024, revealing persistent high credit card write-offs amidst a challenging retail environment. The financial services segment, while showing some improvements, continues to grapple with significant net credit card write-offs, which remained elevated at 6.7%, up from 5.6% in the same […]
US Household Debt Rises to $17.80 Trillion in Q2 2024
The Federal Reserve Bank of New York’s Center for Microeconomic Data has released its Quarterly Report on Household Debt and Credit for Q2 2024, revealing a $109 billion (0.6%) increase in total household debt to $17.80 trillion. Mortgage balances saw the largest growth, rising by $77 billion to reach $12.52 trillion. Home equity lines of […]
BoE Gives Cautious Thumbs Up to Major UK Banks’ Crisis Readiness
The Bank of England (BoE) has conducted its second “resolvability” assessment of Britain’s eight largest banks, concluding that these institutions could be safely wound down in a crisis without immediate need for taxpayer funds. This evaluation, announced on Tuesday, is a crucial measure implemented following lessons learned from the 2007-09 global financial crisis. The assessment […]
California Federal Court Rules TikTok Pixel Violates Privacy Law
A federal court in California has issued a ruling that could reshape the landscape of digital privacy law. For the first time, a court has determined that software on a website can violate California’s Trap and Trace Law, a component of the state’s Invasion of Privacy Act (CIPA). This precedent-setting decision came in response to […]
Another Forbes 30 Under 30 Alumnus Faces Legal Trouble
The Forbes 30 Under 30 list, often celebrated for highlighting promising young talent across various industries, has recently come under scrutiny as several honorees face significant legal troubles. These young entrepreneurs and innovators, once lauded for their groundbreaking achievements, are now in the spotlight for all the wrong reasons. The prestigious list has yet another […]
Search Interest For Gold Soars 64% in One Week as Recession Fears Mount
Google searches for “buy gold” have surged by nearly 64% in just one week. This remarkable uptick in interest, recorded from late July to early August 2024, highlights a significant shift in investor sentiment as fears of a looming U.S. recession intensify. The spike in gold-related searches is a direct response to increasing concerns over […]
New Low: High Times Sued by Investors
A group of investors has filed a class action lawsuit against High Times Holding Corp., adding to the ongoing struggles of the once-prominent cannabis media company. The lawsuit, filed in late June in the District of Delaware, is led by Mark C. and Jill L. Donius, who claim their $5,500 investment in 2021 was mishandled. […]
Reddit Beats Estimates In Q2 2024 As Massive User Growth Fuels 54% Revenue Spike
In its second quarterly report since going public, Reddit (NYSE: RDDT) reported substantial growth in user engagement and revenue. The social media platform’s performance exceeded Wall Street expectations, signaling resilience and strategic prowess in an increasingly competitive landscape. Reddit’s revenue for the second quarter soared to $281.2 million, a 54% increase from the previous year […]
Cybersecurity Boom: Abnormal Security Closes Funding At 25x Revenue Valuation
FULL DISCLOSURE: This is sponsored content for Plurilock. Abnormal Security has closed a $250 million Series D funding round, propelling its valuation to an impressive $5.1 billion. This latest round, led by Wellington Management, with participation from existing investors Greylock Partners, Menlo Ventures, Insight Partners, and the Falcon Fund, marks a substantial 28% increase from its […]
X Sues Advertisers Over Alleged Boycott
Less than a year after he told them to “go f**k yourself,” Elon Musk is big mad that advertisers still don’t want to spend money on X. He’s so furious that he’s doing what any self-respecting wealthiest man on earth would do: sue them. Musk’s X Corp has filed a lawsuit against a group of […]