Past due and bankruptcy documents on a wooden table
Banking

Parker files Chapter 7 after Avalara deal collapse; $58m equity wiped

The e-commerce credit card startup shut down on 4 May after acquisition talks with tax-software firm Avalara collapsed. The Chapter 7 filing lists $50m to $100m in both assets and liabilities.

Naomi Voss4 min read

Latest

Close-up of vibrant stock market graphs displaying trading trends on a monitor, ideal for finance and cryptocurrency concepts.
Regulation

Suspicious prediction-market trades draw CFTC scrutiny as volumes swell

Suspicious trading on Kalshi and Polymarket is becoming a core market-structure problem as volumes rise and the CFTC signals tougher oversight.

Tomás Iglesias
California State Capitol in Sacramento
Regulation

California SaaS tax proposal adds new risk for cloud-software stocks

Newsom's bid to tax digital software at 7.25 per cent would reach beyond Sacramento's budget math. For software and AI investors, the question is how much vendors can pass through and how much valuation premium gets shaved by policy risk.

Sloane Carrington
Crowded street in Mumbai with adults riding scooters amidst traffic and buildings.
Deals

Rapido raises $240 million in Prosus-led round at $3 billion valuation

Rapido raised $240 million in a Prosus-led round that valued the Indian ride-hailing platform at $3 billion, offering a fresh marker for late-stage mobility funding in India.

Naomi Voss
Michael Burry and MercadoLibre stock chart
Stocks

Burry buys MercadoLibre in the $1,600s after post-earnings drop

Michael Burry bought a full position in MercadoLibre after the stock fell 13% on a Q1 margin miss, betting his IV15 framework will prove right over a 15-year horizon.

Avery Lin
CFTC headquarters building with agency seal
Regulation

CFTC Issues Blanket No-Action Letter on Prediction Market Data Reporting

The CFTC issued Letter No. 26-14 on Tuesday, granting 19 prediction market platforms — including Polymarket US and Kalshi — relief from swap data reporting obligations, as the agency presses its jurisdictional claim against five state-level gambling regulators.

Tomás Iglesias
US dollar bills and a DXY index chart showing upward trend
Markets

Dollar Rises for Fourth Day as Inflation Data Lifts December Rate-Hike Odds to 35%

The dollar rose for a fourth consecutive session on Thursday, pushing the DXY index to 98.57, as back-to-back US inflation prints drove a sharp repricing of Federal Reserve rate expectations — lifting the odds of a December increase to 35 per cent.

Helena Brandt
Person holding a smartphone and credit card for an online payment, representing digital finance and fintech
Banking

Affirm Targets Bank Charter With $350M Nevada Capital Pledge

Affirm outlined plans at its 12 May investor forum to inject $350 million into a Nevada-chartered industrial bank, aiming to lower funding costs and recapture fees paid to partner banks. The move puts the buy-now-pay-later firm at the centre of a growing push by fintechs to secure ILC charters.

Naomi Voss
Cisco Systems headquarters in San Jose, California
Stocks

Cisco (CSCO) surges 17% on Q3 beat as AI orders double to $9bn

Cisco shares jumped 17% in extended trading after the networking giant beat Q3 estimates, raised its AI infrastructure orders forecast to $9bn from $5bn, and unveiled a $1bn restructuring that will cut nearly 4,000 positions.

Avery Lin
US Treasury Department building facade at dusk with American flag
Economy

Warsh Confirmation Meets 3.8% CPI as Rate-Hike Bets Eclipse Cuts

The April consumer price index rose 3.8 per cent year-over-year, beating every Wall Street estimate as Kevin Warsh's Senate confirmation vote approaches. Markets now price a greater than 50 per cent chance of a rate increase by January 2027, upending the rate-cut mandate that defined his nomination.

Helena Brandt