KEY POINTS Personal finance start-up SoFi has agreed to buy Utah-based payment processor Galileo for $1.2 billion. Deal talks began before “things got challenging,” but they were able to continue despite the coronavirus slowdown, SoFi CEO Anthony Noto says. Galileo has been around for a
KEY POINTS The Paycheck Protection Program will lend up to $349 billion in forgivable loans to small businesses hurt by the coronavirus fallout. The Small Business Administration program may not forgive as much of the loans as business owners think. At least 75% of the
Pinterest — Shares of the social media company soared 14% in extended trading after Pinterest released preliminary results ahead of its first-quarter earnings call in May. The company expects revenue ranging from $269 million to $272 million in the first quarter. It anticipates 365 million to 367 million
In our continued coverage of the coronavirus’ impact on technology startups, we look back at 2008 to understand which investor groups pulled back the most when the financial crisis hit. By pullback we are referring to the most active investors by investor type before the
The Trump administration and Congress have finalized a deal that will lead to much-needed relief for American workers, small businesses and the industries that need it most as the coronavirus pandemic ravages the global economy. While this piece of legislation isn’t perfect, as no piece
The average price of a gallon of gas has fallen below $2 in the United States — the lowest price in four years, according to AAA. The plunge can be attributed to the ongoing coronavirus pandemic, which has wiped out demand as people are increasingly
The economy is cratering deeper than we have seen in our lifetimes. Layoffs are coming so quickly, the state unemployment offices can’t keep up. Banks are flooded with calls about upcoming mortgage and loan payments. Downtowns are deserted, malls are closed, bars are empty,
The economic fallout from the coronavirus pandemic could drive an additional 11 million people into poverty in East Asia and the Pacific unless “urgent action” is taken, the World Bank warned in a report released Monday. In the worse-case scenario outlined by the Washington-based financial