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.
Stocks continued to fall on Wall Street Wednesday as investors review the latest corporate earnings and prepare for higher interest rates.
A Rome villa containing the only known ceiling painted by Caravaggio is going back on a court-ordered auction block after no apparent winning bids were entered.
AT&T and Verizon say they will delay some new 5G wireless service after the airline industry raised alarms about potential interference with important systems on planes.
Stocks fell to a new low for the year on Wall Street Tuesday and bond yields surged amid renewed jitters the Federal Reserve will lift interest rates to tackle rising inflation.
Microsoft is paying nearly $70 billion for Activision Blizzard, the maker of Candy Crush and Call of Duty, as it seeks an edge in the fiercely competitive businesses of mobile gaming and virtual-reality technology.
GreenPower Motor Company CEO Fraser Atkinson joined Cheddar News to discuss Gov. Jim Justice's plan for West Virginia to reduce carbon emissions in 2022 by adding a school bus fleet of B.E.A.S.T.s — or battery-electric automated school transportation. Atkinson discussed why the state was perfect for manufacturing electric buses, and the economic impact its facilities will have on the region. He also noted a health impact the new vehicles could have, citing research that children from kindergarten to sixth grade are most at risk for cancers and respiratory illnesses due to exhaust pollution.
As food prices continue to rise, the cost of eating at home is starting to outweigh the cost of eating out. According to the Labor Department, grocery prices jumped a whopping 6.5 percent in December, while restaurant prices rose only 6 percent. Daniel Ammen, the senior director of project management and purchasing at restaurant management company Front Burner Brands, joined Cheddar to discuss how its own restaurant, The Melting Pot, is navigating the cost differential and how its restaurants overall are dealing with ongoing staffing shortages.
From Wall Street to Silicon Valley, these are the top stories that moved markets and had investors, business leaders, and entrepreneurs talking this week on Cheddar.
Two of the biggest names in crypto had a public spat this week over whether stablecoin issuers should have to reveal to the general public what's in their reserves.
Americans overlooked shortages, spiking prices and uncertainty over the omicron variant to break spending records during the critical holiday shopping season.
