dailypay 175m series 1b beltran 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.
Entering November, oil looked poised to rise higher. OPEC had said it was cutting production and Europe was working on a plan to ban Russian oil shipments to the Continent.
But instead of a rally, the oil market has fallen, with West Texas Intermediate (WTI) crude futures dropping 12% on the month. WTI was trading at $76.76 a barrel on Monday.
Those of us of a certain age recall a time when the money supply numbers from the Federal Reserve sent shock waves through the financial markets, much as the jobs or inflation reports do now. That was back in the late 1970s and early 1980s, when the Fed supposedly used the data to guide its monetary policy to break the back of inflation. But the connection between the money measures and the real economy later broke down, and the attention paid to them dwindled.
That is, until recently. Growth in the M2 measure, which consists of currency, checking, and other transaction and retail savings accounts, has collapsed to about 2% below the level a year ago. That’s a stunning reversal from the explosion in the money supply from pandemic monetary and fiscal stimulus; year-over-year, M2 expansion peaked at 27% in early 2021.
Until now, the U.S. clean-energy revolution has been imported. Other countries make almost all of the batteries, solar panels, and critical chemicals used in America. But the revolution is starting to come home, a move that could shake up the renewable-energy supply chain.