MoneyGram and Ripple testing bank transfers of the XRP cryptocurrency. Fortune Staff Writer Jeff John Roberts explains why this partnership is so significant.
"Unlike Bitcoin or Ethereum, it (Ripple) is centrally controlled," explains Roberts. "This is Ripple's moment of truth because people are speculating on XRP." With transaction fees so high for Bitcoin, some investors are seeing Ripple as a good alternative.
"Ripple is at the forefront of blockchain technology and we look forward to piloting xRapid," MoneyGram CEO Alex Holmes said Thursday. In the release announcing this partnership, both Ripple and MoneyGram promoted the efficiency and speed of this digital currency.
On today's Biz Breakdownm, Ford beats Tesla to the first EV truck Deliveries, massive flight cancelations wrap up Memorial Day Weekend, and Apple announces new IOS 16 features one week before the WWDC.
Scientists are hoping that the simplest element in the universe — hydrogen — can be the solution to slowing down climate change. However, it does not come without cost. The process of making hydrogen could potentially add more CO2.
The Week's Top Stories is a guided tour through the biggest market stories of the week, from winning stocks to brutal dips to the facts and forecasts generating buzz on Wall Street.
Canopy Growth reported a wider-than-expected loss in its fourth quarter and fiscal year results. However, the cannabis company plans to expand its portfolio and make new investments to achieve profitability and drive growth. CEO David Klein provides insight into the earnings report and how the company plans to reach profitability. “The premium strategy coupled with our mainstream brands in Canada is the key to achieving profitability here," he said.
U.S. stocks ended near session highs to close Thursday's session after retailers released positive earnings results. Investors also continued to weigh the federal reserve's recent indication that the central will raise rates in an effort to curb inflation. Adam Johnson, Portfolio Manager for Adviser Investments, joins Cheddar News' Closing Bell to discuss.
Elon Musk officially dropped out of the $200 billion club.
The move comes as Tesla's stock continues to plummet as a number of banks and analysts reconsider their lofty valuation of the automaker. Greg Martin, Co-Founder, Rainmaker Securities joined Cheddar's Opening Bell to discuss.
On today's Biz Breakdown: Elon Musk ups his offer to buy Twitter, Pfizer drops vaccine cost for some lower income countries, and Oreo & Ritz team up to create a cracker-cookie Sandwich
Catching you up on today's top stories with Elon Musk raising his own commitment to purchasing Twitter with $33.5 billion, Apple plans to produce 220 million iPhones this year, and the company also is raising its hourly retail wage to $22 per hour amid ongoing unionization efforts at its stores.
Everyone is searching for that social media moment, whether it’s filming a viral dance for TikTok or snapping a selfie for your Instagram Story. Cheddar News explores the activities made for the online world, including streaming companies creating real-life experiences to entice you to stay subscribed, TikTok taking the stage with its first theatrical production, and how one immersive experience made out of candy encourages you to revisit your childhood.
