All posts tagged: cash

US Postal Service Tells Congress It Needs Help, Running Out of Cash

US Postal Service Tells Congress It Needs Help, Running Out of Cash

Published by Sam Flores

WASHINGTON, June 24 (Reuters) – U.S. Postmaster ⁠General ⁠David Steiner told Congress ⁠on Wednesday that the financially struggling agency has a ​broken business model and needs help from lawmakers to turn around its operations. “The bottom ‌line is that we are ‌out of cash. We are borrowing from our employees’ retirement funds ⁠to continue ⁠operations,” Steiner’s written testimony before a U.S. Senate committee said, ​warning it could run out of operating funds in months if it stopped deferring obligations. “The Postal Service has a broken business model and action is needed by Congress ​to fix it.” Steiner wants Congress to compensate it for money-losing operations and ⁠make ⁠other reforms. In March, Steiner ⁠said ​the Postal Service was hiring restructuring advisers to help address its financial troubles. One ​key question is whether ⁠USPS should continue to deliver to 170 million addresses six days a week, which costs $3.4 billion annually — and 70% of those routes lose money, Steiner said. About 58% of its 18,000 Post Offices also lose money. The Postal ⁠Service has reported net losses …

HMRC announces 22% tax on cash interest held in stocks and shares Isas | Isas

HMRC announces 22% tax on cash interest held in stocks and shares Isas | Isas

Published by Sam Flores

Isa reforms announced on Tuesday promise a new first-time buyer account with no upper age limit, and a tax on interest on cash savings held in a stocks and shares wrapper. Savers and investors can currently deposit up to £20,000 a year in Isas, which offer the chance to earn returns which are not subject to tax. In last year’s budget, the chancellor, Rachel Reeves, announced major changes to the regime, including the end of the Lifetime Isa, aimed at people saving for a first home or retirement, and a lower cap on cash Isa savings for everyone aged under 65. More details of the changes were announced on Tuesday, as the government launched a consultation on a new first-time buyer Isa and published rules to prevent savers using stocks and shares Isas to hoard cash. The consultation from the Treasury suggests that the first-time buyer Isa will be available to anyone aged over 18, in contrast to the lifetime Isa (Lisa), which had an upper age limit of 40 for new savers. The Treasury …

Crypto Scammers Using Couriers To Collect Cash, Avoid Detection: FBI

Crypto Scammers Using Couriers To Collect Cash, Avoid Detection: FBI

Published by Jenni Sidey

Authored by Naveen Athrappully via The Epoch Times, Crypto scammers are using couriers to pick up cash from victims in person to avoid being traced by banks, the FBI is warning. The fraudsters first approach targets, typically seniors, with business or romantic proposals via social media, texts, or a fake cryptocurrency investment profile, the bureau said in a June 15 public service announcement alert. “After establishing a relationship with the victim, the scammer suggests investing in cryptocurrency and instructs the victim to download specific cryptocurrency trading applications and create investment accounts.” Typically, victims are asked to send wire transfers to various domestic and international bank accounts under the guise of deposit accounts. They get access to websites showing fictitious returns on investment, which entices them to deposit even more money. Legitimate financial institutions often flag such transfers as suspicious and block them. To bypass this, scammers are instructing victims to hand over money to fake investment accounts via in-person cash pickups. The victims are led to believe the money they send will be deposited into …

Apple Card Promo Doubles Daily Cash Back on Nike Purchases

Apple Card Promo Doubles Daily Cash Back on Nike Purchases

Published by skeptic

Apple is teaming up with Nike for an Apple Card promotion that gives extra Daily Cash back. For the next month, ‌Apple Card‌ users can get 6% Daily Cash back when making a purchase with ‌Apple Card‌ using Apple Pay at a Nike retail store, the Nike website or Swoosh website, or Nike’s apps. The ‌Apple Card‌ normally offers 3% cash back on Nike purchases, so the bonus is doubled during the promotion period (June 15 to July 15). ‌Apple Card‌ holders can get the 6% Daily Cash back on up to $500 in purchases, for a total of $30 back. The deal is available to ‌Apple Card‌ owners, co-owners, and participants, so multiple family members can take advantage of the bonus offer. Most ‌Apple Pay‌ purchases provide 2% Daily Cash, but Apple has partnered with companies like Nike to increase that to 3%. Extra cash back is available when using ‌Apple Pay‌ and ‌Apple Card‌ for purchases at Ace Hardware, Apple retail stores, ChargePoint, Duane Reade, Hertz, Booking.com, Uber, and Walgreens. Popular Stories New …

SpaceX IPO: Why insiders like Elon Musk are much likelier to cash in big than public buyers

SpaceX IPO: Why insiders like Elon Musk are much likelier to cash in big than public buyers

Published by Sam Flores

Elon Musk’s SpaceX is becoming a publicly traded company after selling 555.6 million shares in what was the biggest initial public offering in history. But my new research suggests that investors who bought those shares are unlikely to see the explosive growth that past IPOs had. The rocket, satellite and artificial intelligence company said it raised US$75 billion on June 11, 2026, in the offering, giving it a valuation of $1.77 trillion. SpaceX isn’t the only high-profile tech company expected to sell shares to the public for the first time this year. Artificial intelligence companies OpenAI and Anthropic are also expected to list in the coming months in massive IPOs. For Wall Street, that means blockbuster deals with hefty fees for the banks involved. For early investors and executives, it could mean enormous paydays. For everyday investors, meanwhile, the question is whether a hot company “going public” today represents a good investment opportunity. What does it really mean when a company “goes public”? For decades, an IPO marked the moment when ordinary investors could buy …

Honolulu police seize drugs, cash, and machines in Waimakua Place gambling investigation

Honolulu police seize drugs, cash, and machines in Waimakua Place gambling investigation

Published by skeptic

Honolulu police say a search warrant served at an alleged illegal gambling room on Waimakua Place led to the seizure of drugs, gambling machines and cash Tuesday evening as investigators continued a wider campaign against underground gaming operations across Oʻahu. The warrant was executed around 5 p.m. by the Honolulu Police Department’s Narcotics/Vice Division Gambling Detail. Officers from the District 2 Crime Reduction Unit, Major Events Division and Specialized Services Division also took part in the operation. Investigators entered the location as part of an ongoing gambling probe. By the end of the search, officers had recovered illegal drugs, 18 gambling machines and more than $11,000 in cash. Police said all of the items were taken into evidence for further examination. Honolulu police continue crackdown on gambling rooms amid Waimakua Place raid No arrests had been announced when the department released details of the case. Authorities also did not disclose what types of drugs were recovered or provide additional information about potential suspects. The investigation remains active. pic.twitter.com/paw9LpFFrK — Honolulu Police (@honolulupolice) June 10, 2026 …

Waymo launches a loyalty program with 10% cash back and free cancellations

Waymo launches a loyalty program with 10% cash back and free cancellations

Published by skeptic

Waymo is launching a loyalty program called Waymo Premier, which will offer frequent robotaxi riders a number of perks in exchange for $29.99 per month. Premier members will be able to skip the virtual line and earn 10% cash back on every trip (and “even more during busy times,” according to Waymo). They’ll also get five free ride cancellations every month, and Waymo says Premier members will even be able to hail a robotaxi in cities where the service still has a waitlist. Waymo Premier will not be available to riders in Austin or Atlanta, the company told TechCrunch, because its robotaxis are only available via the Uber app in those cities. The loyalty program is launching as Waymo ramps up its expansion in the U.S., and prepares for an international launch later this year. Waymo is also starting to roll out its newest vehicle, the Zeekr-built van that it calls “Ojai,” in Los Angeles, Phoenix, and San Francisco. The Premier program could also be the start of a new line of business for Waymo …

Michigan raid seizes illegal gambling machines and cash in Adrian amid enforcement push

Michigan raid seizes illegal gambling machines and cash in Adrian amid enforcement push

Published by skeptic

Michigan regulators say they seized dozens of illegal gambling devices and thousands of dollars in cash during a raid at an Adrian business, the latest move in a wider crackdown on unauthorized gaming activity across the state. Investigators executed a search warrant June 4 at Games 4 U, located at 2984 Treat Highway, Unit C, in Adrian, according to the Michigan Gaming Control Board. The operation grew out of a joint investigation involving the gaming regulator and the Michigan Department of Attorney General, with assistance from the Madison Township Police Department. During the search, authorities took possession of 42 slot-style gambling machines and 10 computer-based gambling machines. Officials also seized $8,715 in cash along with 20 gift cards that they said were tied to illegal gaming activity at the business. Michigan law generally prohibits gambling activity unless it has been specifically authorized. State officials say businesses that operate unlawful gaming machines can face criminal penalties, financial sanctions, or both. Investigation targets alleged illegal gambling operation in Adrian The Adrian raid comes as the Michigan Gaming …

Analysis:Japan governance reforms set to prise open .8 trillion cash hoard

Analysis:Japan governance reforms set to prise open $1.8 trillion cash hoard

Published by Sam Flores

TOKYO, June 11 : Proposed revisions to Japan’s governance code that stress the need for efficient use of cash have raised expectations among investors that corporate hoarders will start to mobilise their $1.8 trillion money mountain. The revisions, to be finalised in the summer, could see companies return more cash to shareholders or redeploy it for deal-making or growth investment, building on reforms over the past decade that have helped share prices reach record highs. Makita set out its cash allocation policy explicitly for the first time this year, saying it will hold cash and cash equivalents at two to three months of sales, with excess funds to be used for shareholder returns and investment. The tool maker pledged to return 50 per cent or more of profit to shareholders and took into account the evolving governance code and requests from institutional investors, said Ryota Maruyama of Makita’s general affairs department. “We recognise we are required to communicate with the market regarding the use of capital,” he said. The governance reforms, from the Financial Services …

AC Black Flag Resynced is more than a nostalgic cash grab, says director

AC Black Flag Resynced is more than a nostalgic cash grab, says director

Published by Daniella Wilson

In a series as storied as Assassin’s Creed, the reverence held for Black Flag is evidence enough of its quality. The prospect of a remake of AC’s fourth game brought forth more excitement over the years than many of gaming’s heaviest hitters. When Black Flag Resynced was announced, that anticipation reached new heights. Following a hands-on preview of the game earlier this year, Radio Times Gaming spoke with game director Richard Knight to dive deeper into why Black Flag was chosen to be remade, and why in 2026. “If you ignore the numbers, Black Flag has a lot of really incredible things behind it,” Knight began. “It has this great setting in the Caribbean. It has this really cool character players love in Edward [Kenway]. It’s got assassin gameplay, and it’s got naval gameplay. “And so, when you put all those things together, it sounds like, ‘Wow. That’s a great thing,’ and then you go, ‘OK, what are the things we could do to bring that forward into the future and make it a modern …