Finance

Netherlands’ Wopke Hoekstra sees tremendous growth potential in summer

LONDON — European countries could experience a “tremendous acceleration of growth” in the summer, as vaccinations are stepped up, Dutch Finance Minister Wopke Hoekstra told CNBC.

European economies are wrestling against one of the deepest shocks in history. The coronavirus pandemic has halted much of Europe’s economic activity and the Covid-19 vaccine rollout has been bumpy. Euro zone member states contracted by almost 7% in 2020 and strict social restrictions are still in place, clouding the prospects for 2021.

The European Commission, the EU’s executive arm, turned more negative on the economic recovery, cutting its GDP forecast for the year

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Financial planners warn of ruin as stock trading takes on video game traits

The individual investor has never had more power.Platforms like Robinhood have made it possible to trade stocks — for free — from your phone. Millions have signed up, and many jumped into the trading frenzy around GameStop stock in the past few weeks.But what played out in the market didn’t look like investing to many financial planners.”I’d almost put it equivalent to gambling,” said Paul West, Managing Partner at Carson Wealth. “The best long term investors look so far out into the future instead of what’s happening today.”For many of those armed with trading apps, that’s not what’s happening. Free … Read More

How the GameStop frenzy sabotaged a bid to ‘democratize’ finance

“Fintech is basically if Wall Street and Silicon Valley had a kid,” said Jeff Hauser, director of the Revolving Door Project, a progressive advocacy group. “Over time if they get too strong in these unregulated areas, they will take advantage of people with less access to lawyers and less understanding of the fine print.”

Those suspicions about fintech will be on full display this week when the House Financial Services Committee, led by Rep. Maxine Waters (D-Calif.), summons Robinhood co-founder Vlad Tenev, other executives and hedge fund managers linked to the brokerage for a potentially explosive hearing. Among the witnesses

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Private finance emerges as crypto’s next major growth catalyst

Long gone are cryptocurrency’s days as an obscure hub for experimental ventures in cryptography. 2020 marked a seminal year for the space, with cryptocurrencies taking major strides into the mainstream as governments, supranational organizations and corporate entities alike made significant entrances into an industry they collectively call the “digital asset space.” 

As per centralized authorities’ choice, cryptography and its primary feature, privacy, have been relegated from the front-and-center role they once played as cryptocurrency’s main attractions. In their place, a breadth of ever-more enticing DeFi applications has taken the limelight on the back of enhanced liquidity, yield farming and unprecedented

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Grand Forks financial manager says maintaining a good credit rating helps consumers meet financial goals

“Essentially, credit ratings are like a report card for how you handle your finances,” said Chris Moen, northern valley lead financial guide with Alerus Financial in Grand Forks. “It’s one way that lenders can determine your risk.

“With that being said, having a higher score can save you considerable amounts of money, due to better interest rates that you qualify for. It can also help you qualify for financing throughout the journey of your life, whether it be a car, a home, a business. And, really, it can help enable you to take advantage of opportunities that can actually help

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How Tech is Shaping the Future of Finance

Finance and technology, now dubbed fintech, presents opportunities for entrepreneurs with innovative solutions.

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Technology and finance have always been intertwined, from the invention of the abacus to make financial calculations easier to the mammoth supercomputers that are used to drive complex financial models today. The fintech industry was born out of that merger, and now the majority of financial activity is carried out on

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