Provident Financial News

In a promising sign of progress toward leveling the playing field for minority entrepreneurs, a new study shows startups run by Black and Latinx women raised $3.1 billion in 2020, triple the outside funding raised just two years ago.

Investment platform Robinhood Financial was charged by Massachusetts securities regulators Wednesday for luring inexperienced investors to open accounts and make trades, and not doing enough to protect them from outages and disruptions on its platform.

The United States isn’t known for offering a secure retirement, and the pandemic isn’t helping. More than a quarter of workers have taken or plan to take a loan or withdrawal from their retirement accounts because of the pandemic, according to a June survey from the Transamerica Center for Retirement Studies. At the same time, Social Security funds have taken a hit, lowering the funds’ reserves even further.

Robinhood Financial agreed Thursday to pay $65 million to settle allegations from the Securities and Exchange Commission (SEC) that the investment platform misled customers and provided overpriced trades.

Kids may learn how to save, spend, and share, thanks to programs like “Sesame Street,” but Greenlight Financial is adding one more important lesson into the mix: investing. The fintech company behind the parent-managed debit card and app for kids launched its newest plan Thursday, Greenlight Max, which focuses on teaching children how to invest.

Robinhood Financial, which runs a popular commission-free online trading application, has been hit with a record $70 million penalty for misleading customers, approving ineligible traders for risky strategies, and not supervising systems that failed and ended up locking millions of people out of trading.

Venmo said Tuesday it’s begun allowing users to invest in cryptocurrencies with as little as $1, using funds from their Venmo balance or a linked bank account or debit card.

Employees of some companies will soon have a new option in their retirement accounts: crypto. But government regulators remain cautious about Bitcoin and other digital currencies and warn that the volatile assets are speculative.

Market volatility is causing 39% of investors to buy more cryptocurrency, a new survey from The Balance has found, as Americans change their investing and savings habits amid a withering economic outlook.

Responding to growing investor interest in cryptocurrency, Fidelity Investments announced this week that it would soon add Bitcoin as an option in company-sponsored 401(k) plans. 

A tracking tool introduced Thursday by Nasdaq opens a window on stocks and exchange-traded funds with the most activity among small, individual traders. 

Robinhood, after being accused last year of luring inexperienced investors to open accounts and make trades, on Tuesday launched new educational tools on its trading app.

Billionaire Mark Cuban amassed his fortune in several ways: a savvy bet on the early internet, cryptocurrencies, and even owning a professional sports team. Yet after all that, he hasn't aspired to be king—until now. That's his role in Royal Runaway, his latest film set for release at the end of 2023. He plays Philippe, the top royal in the fictional European nation of Caminelle, where his son, Prince Alex, is in line for the throne. Instead, Alex, played by sports announcer Alex Day, flees to Long Island, applies for work at a winery, and falls in love with a woman who isn'taware of his past. «Mark Cuban is considered a bit of American royalty, so it's really fun to have him playing King Philippe in my latest holiday film,” said the film's writer and director, Candice Cain.

Roku Inc. (ROKU), among the nine most-downloaded entertainment apps in the U.S., will likely report its first-ever year-over-year revenue decline in the first quarter as a tepid advertising market outweighs the growing popularity of its Roku Channel.

BuzzFeed shares dropped more than 20% after CEO Jonah Peretti said the company is shutting down its news division as part of a 15% workforce reduction affecting 180 jobs.

new 52-week highs today, signaling robust growth and investor confidence. Among the standout performers were Ashok Leyland, Cholamandalam Investment & Finance, Dr Reddy's Labs, HCL Tech, HDFC, HDFC Bank, IndiGO, IndusInd Bank, IOC, and ITC. The data was sourced from BSE at 1:35 pm, and the updates from the real-time data could come with a lag.

Politicians on both sides of the Atlantic are speaking out against Twitter and its owner Elon Musk after the embattled social media company suspended the accounts of a competitor and several journalists, many of whom have written critically of Musk.

A flight notification system outage at the Federal Aviation Administration grounded all planes nationwide for several hours Wednesday morning, just weeks after a major winter storm caused massive disruptions to air travel and airline business.

Luck Token (LUCK) has crashed this morning after a surge saw it gain as much as 1,000% in 24 hours, with its price currently standing at $0.0004712.

Setll has planned to expand its capacity by more than 2.5 times to 5,000 beds by the end of this fiscal and is looking to enter the Noida, Pune and Chennai markets, a senior executive said. The company, which focuses on providing rental accommodations to working professionals, currently has around 2000 beds across Bengaluru, Gurugram and Hyderabad across 40 centres. The Bengaluru-based startup charges between Rs 12,000 and Rs 18,000 per-bed.

artificial intelligence (AI) such as Microsoft-backed OpenAI's ChatGPT are complicating governments' efforts to agree laws governing the use of the technology. Here are the latest steps national and international governing bodies are taking to regulate AI tools:AUSTRALIA Seeking input on regulations The government is consulting Australia's main science advisory body and considering next steps, a spokesperson for the industry and science minister said in April.BRITAIN Planning regulations The Financial Conduct Authority, one of several state regulators that has been tasked with drawing up new guidelines covering AI, is consulting with the Alan Turing Institute and other legal and academic institutions to improve its understanding of the technology, a spokesperson told Reuters.