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What is breakage? Breakage is a term used to describe revenue earned by retailers from unused gift cards or other prepaid services that are never claimed. In these cases, the business pockets the money paid for these items, without actually providing the service or item the customer originally paid for. Although almost all of this money is considered profit for …

What is a lightweight file? A “thin file” refers to the credit report of a person with little or no credit history. Consumers who are just starting out and who may never have taken out a loan or had a credit card are said to have light files. Key points to remember A person with little or no credit history …

What does Jack Ma, Founder and Executive Chairman of Alibaba Group Holding Ltd. (BABA), worth it? As of August 5, 2022, Jack Ma’s net worth was $35.4 billion as the 34th richest person in the world, according to a Bloomberg article. Much of Ma’s wealth is tied to Alibaba. He had the biggest majority stake in the company and its …

Editor’s Note: Below is the Week 23 release of the NYC Recovery Index, originally published January 11, 2021. Visit the NYC Recovery Index Homepage for the latest data. The new year brought renewed optimism as New York’s economic recovery continued to improve during the week of January 2. A decrease in unemployment claims, an increase in restaurant reservations and gains …

Mutual Fund vs. ETF: An Overview Mutual funds and exchange-traded funds (ETFs) have a lot in common. Both types of funds consist of a mix of many different assets and represent a popular way for investors to diversify. While mutual funds and ETFs are similar in many respects, they also have some key differences. A major difference between the two …

What is a Schedule II bank? A Schedule II bank is a subsidiary of a foreign bank that is authorized to do business in Canada. Typically, the names of these banks reflect their foreign subsidiary nature, such as Citibank Canada and Amex Bank of Canada. A Schedule I bank is a national institution such as the Royal Bank of Canada …

What is cash is king? “Cash is King” is a slang term reflecting the belief that money (cash) is more valuable than any other form of investment tool, such as actions Where obligations. This phrase is often used when prices in the securities market are high and investors decide to save their money when prices are cheaper. It can also …

What is Invest, Then Investigate? Invest, then investigate is an investment strategy in which investors first buy a stock and then research and due diligence second. Key points to remember Investing, then investigating is a strategy of buying a stock before researching its history, fundamentals, and performance. It is generally a risky and speculative strategy that is more often talked …

Standard CD prices Terms APY Minimum deposit CD from 7 to 89 days 0.01% $5,000 CDs from 3 to 6 months 0.01% $500 CDs from 6 to 12 months 0.01% $500 CDs from 12 to 24 months 0.01% $500 CDs from 24 to 36 months 0.01% $500 CDs from 36 to 48 months 0.01% $500 CD from 48 to 84 …