Robinhood reported its first quarterly profit as a public company, helped by cost cutting and higher interest rates that boosted revenue it earns on margin loans and customer deposits. The company reported net income of $25 million in the second quarter, and said operating expenses declined 24% year on year to $466 million. Overall revenue rose 53% to $486 million, with net interest revenue...
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The Heir Who Wants to Be Mayor
Hi, welcome to your Weekend.To spend time with Daniel Lurie is to understand the true meaning of the word “mensch.” Everyone who knows the San Francisco philanthropist and Levi’s heir says pretty much the same things about him: Daniel is “a really good guy”—affable, smart, egoless and earnest in his desire to improve the lives of the neediest. So earlier this year, when I began hearing...
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