Esusu: Save More Money with Your Friends and Family
In cultures around the world families and friends pool their money together into a single pot of money. The process is called esusu, and a new app has adopted the name and making the process easier than ever.
Abbey Wemimo is the co-founder of Esusu. As an immigrant himself, Wemimo's mother practiced esusu and used that financing strategy to send Wemimo to school.
Wemimo explains that the main focus is to create a platform for immigrants and people of color, but of course he would be happy for all Americans to use the platform. Accessibility was a key factor in developing Esusu, which is why Wemimo says the company built a phone-based app.
MARLOWE., the men's skincare and grooming brand, has announced 23-year-old professional boxer Ryan Garcia as "Chief Marlowe Officer" and co-owner of the brand. In this role, Ryan will help boost brand awareness, oversee product design, and strategize digital marketing content for his signature products. Ryan joined Cheddar to discuss the partnership and his boxing career.
Online broker TradeStation Group has landed on Wall Street. The company went public via SPAC deal, valuing the combined venture at $1.4 billion. John Bartleman , President & CEO TradeStation Group, Inc. joined Cheddar's Opening Bell to discuss.
Samsung is getting a major shake-up. In its biggest reshuffle since 2017, the South Korean company is merging its mobile and consumer electronics divisions and replacing its three CEOs with two new leaders. The move is seen as an effort to simplify its structure and focus more on the semiconductor business. Paulina Likos, investing reporter for U.S. News & World Report, explains why Samsung is merging these two units now, and its potential priorities moving forward.
U.S. markets opened lower despite positive jobs data, which saw weekly claims drop to a 52-year low. Kevin Nicholson, Co-CIO Global Fixed Income, RiverFront Investment Group joined Cheddar's Opening Bell to discuss the labor market, inflation, and the impact of the Omicron variant on global markets.
Sarah E. Needleman, reporter at The Wall Street Journal joins Cheddar News to discuss the recent AWS outage and if the internet is too dependent on Amazon.
Italy's antitrust regulators have fined Amazon $1.28 billion for pushing sellers on the platform to use its own logistic services over third parties. The e-commerce giant said it plans to appeal the decision.
Dr. Susan Garfield, Chief Public Health Officer of EY Americas, joins Cheddar News to discuss companies' adjustments and mindsets as the Omicron variant spreads, and what companies must do to address health inequities.
