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.
President Joe Biden is ordering a record-setting 50 million barrels of oil released from America's strategic reserve to help bring down energy costs.
Stocks closed mixed on Wall Street Tuesday after a day of wobbly trading. Losses in big technology stocks and companies that rely on consumer spending tempered gains elsewhere in the market.
El Salvador President Nayib Bukele says his government will build an oceanside “Bitcoin City” at the base of a volcano.
A late drop robbed the S&P 500 of another record high on Wall Street Monday and left major indexes mostly lower after being up for much of the day.
Target will no longer open its stores on Thanksgiving Day, making permanent a shift to the unofficial start of the holiday season that was suspended during the pandemic.
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.
Cheddar has been covering the biggest news of the week with some of the biggest names in the biz. In case you missed it, we've pulled together some of the highlights that will keep you informed as we get ready for the week ahead.
Stocks closed mostly lower on Wall Street Friday, though gains for several tech companies pushed the Nasdaq composite to another record high and its first close over 16,000 points.
The number of Americans applying for unemployment benefits fell for the seventh straight week to a pandemic low of 268,000.
Stocks closed mixed on Wall Street Thursday as investors reviewed the latest earnings reports from retailers and an update on the employment market.
