The Nasdaq composite just passed 6000 for the first time, hitting an all-time intraday high in the process. Over the past 12 months the composite is up nearly 32%. The majority of this strong performance can be attributed to five technology stocks that have also been surging – Apple, Facebook, Amazon, Microsoft and Alphabet account for about 40% of the composite’s gains in 2017.… Read More
Oscar Health, a startup rethinking health insurance for the digital age, is rolling out a new product for small businesses called Oscar for Business. The rollout comes as Oscar struggles with its original bet on individual insurance through the Affordable Care Act, a move which vaulted the company, now valued at $2.7 billion, to initial success. Oscar was the only startup that had the approval… Read More
China’s non-performing loans have stabilized and pressure from capital flight has eased off, Yi Gang, deputy governor of the People’s Bank of China, said here on Monday.
Agricultural Bank of China said Monday that it has increased lending to farmers and rural businesses in support of agricultural supply-side structural reform in the first quarter.
China is expected to improve stock market supervision with stricter measures, better information disclosure and strengthened investor protection.
CommonBond, one of the biggest of the second generation of startups tackling online lending, has launched a direct student loan product as it expands its footprint in the debt business. The company is known for its strict qualification requirements for refinancing packages and with an initial focus on the high end of student lending (servicing only 20 — mostly ivy league —… Read More
Meet Dave: an AI dressed up in a bearsuit that’s just launched to save you from the evils of expensive overdraft fees. Hand Dave access to your checking account and the app’s machine learning algorithms will get busy crunching your spending data so the bear can warn you about pending transactions which might push you into the red and incur an expensive bank penalty. Read More
China’s banking regulator has instructed banks to control credit growth to the country’s booming real estate sector, intensifying caution against an over-heated market.