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DailyPay, a fintech that helps workers access their wages in real time, has raised $500 million in capital.
The $500 million includes a $175 million Series D, led by Carrick Capital Partners; existing investors, including RPM Ventures, participated, a statement said. The round valued DailyPay at over $1 billion, giving unicorn status to the fintech, a person familiar with the matter said.
A warning from President Biden could dampen the party atmosphere for Big Oil’s expected third-quarter earnings bonanza.
Biden, who is worried about high gasoline prices, said last week that oil companies should be more focused on increasing oil supplies to bring down prices than on rewarding shareholders. “My message to the American energy companies is this: You should not be using your profits to buy back stock or for dividends,” he said in a speech at the White House. “Not now. Not while a war is raging.”
Stocks are rebounding on better-than-feared third-quarter earnings, but investors should still be cautious.
Chris Senyak, chief investment strategist at Wolfe Research, is skeptical about the recent rally of the S&P 500 and Nasdaq He believes a recession is near and stocks will get hit. “We continue to believe that the Fed will ultimately hike fed funds to between 5% and 6%, and that a demand-driven recession will hit at the beginning of next year,” Senyek wrote.