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<keyword id="19976119" type="General" weightage="20" keywordseo="Zee" source="keywords">ZEE</keyword> Entertainment Enterprises Ltd and <keyword id="19914172" type="General" weightage="20" keywordseo="Sony" source="keywords">Sony</keyword> Pictures Networks India on Tuesday said they have settled their disputes related to the failed USD 10-billion merger and have agreed to withdraw all claims against each other. The settlement stems from a mutual understanding between the companies to independently pursue future growth opportunities with a renewed purpose and focus on the evolving media and entertainment landscape, signifying the definitive conclusion of all disputes, the two companies said in a joint statement. ZEE Entertainment Enterprises Ltd and Culver Max Entertainment Pvt. Ltd. (CMEPL) have arrived at a comprehensive non-cash settlement, amicably resolving all disputes related to the merger co-operation agreement and the composite scheme of arrangement, it said. Under the agreement, the companies have mutually agreed to withdraw all respective claims against each other, in the ongoing arbitration at the Singapore International Arbitration Centre (SIAC), and all related legal proceedings initiated in the National Company Law Tribunal (<keyword id="6355809" type="General" weightage="20" keywordseo="nclt" source="Orion">NCLT</keyword>) and other forums, it added. The companies will also withdraw the respective composite schemes of Arrangement from the NCLT and inform the relevant regulatory authorities. In January this year, Sony had pulled out from the proposed USD 10-billion merger with ZEE Entertainment Enterprises Ltd citing failure to meet certain "closing conditions" by the Indian firm. The deal collapsed after over two years of announcing it. Subsequently, the two parties went to the courts. SEE ALSO: <a href="https://www.businessinsider.in/tech/mobile/news/apple-iphone-16-to-be-launched-on-september-9-heres-everything-we-know-so-far/articleshow/112828818.cms">Apple iPhone 16 to be launched on September 9 – here’s everything we know so far</a> <a href="https://www.businessinsider.in/stock-market/news/a-company-with-8-employees-looking-to-raise-12-crore-ended-up-getting-applications-worth-over-4700-crore/articleshow/112824522.cms">Delhi firm with just 8 employees seeks ₹12 crore via IPO, gets ₹4,700 crore worth of investor applications!</a> <a href="https://www.businessinsider.in/tech/news/telegram-comes-under-the-scanner-in-india-for-extortion-and-gambling-will-it-be-banned-in-india/articleshow/112807370.cms">Telegram comes under the scanner in India for extortion and gambling – will it be banned in India?</a>

Zee and Sony amicably settle disputes over their failed merger, withdraw claims

New Delhi: 78 per cent of consumers now prefer to do most of their banking digitally through <keyword id="19915384" type="General" weightage="20" keywordseo="mobile-apps" source="keywords">mobile apps</keyword> or websites, according to the Alkami report. This shift is part of a broader trend towards <keyword id="21227659" type="General" weightage="20" keywordseo="cashless-transactions" source="keywords">cashless transactions</keyword> and <keyword id="21012835" type="General" weightage="20" keywordseo="contactless-payments" source="keywords">contactless payments</keyword>, which have become the default for many, especially since the COVID-19 pandemic. According to the report, nearly 80 per cent of financial institutions have seen an increase in cashless transactions over the past two years. This change has been accelerated by the pandemic, with many consumers opting for digital payments to avoid handling cash. About 60 per cent of these institutions noted that the volume of cashless transactions has surged by more than 20 per cent. Cashless payments aren't a new concept--personal checks and credit cards have been around for decades. However, today's digital payments, whether made through a smartphone, laptop, or tablet, are quickly becoming the standard. The convenience and safety of these transactions, especially in a post-pandemic world, have made them more popular than ever. Allison Cerra, Chief Marketing Officer at Alkami Technology, said, "The banking leaders of the future will be those that can harness data for the best use, gain a holistic view of their relationships, and meet the rapidly changing needs of digital consumers." With more people turning to <keyword id="20028215" type="General" weightage="20" keywordseo="digital-banking" source="keywords">digital banking</keyword>, there's been a noticeable decline in the use of ATMs and checks. Chad Rogers, Executive Vice President at Connexus Credit Union, noted that even millennials are moving away from traditional banking methods. "What we're seeing, even with our millennial users, is that they're no longer ordering checks, or making cash withdrawals from our ATMs as we would expect. Instead, they are self-serving from home or wherever they are. They're moving money through our digital banking platform," he said. Interestingly, even though fewer people are visiting bank branches in person, their overall engagement with banks has increased. Thanks to the ease of mobile and <keyword id="19998466" type="General" weightage="20" keywordseo="online-banking" source="keywords">online banking</keyword>, customers are now interacting with their banks more frequently, often on a daily basis. While cashless transactions are on the rise, the adoption of cryptocurrency is growing more slowly. Around 21 per cent of financial institutions reported that their customers are asking for Bitcoin products and services. Although this is still a relatively small percentage, 35 per cent of banks believe that offering cryptocurrency options could give them a competitive edge. Banks are also feeling the heat from fintech companies like PayPal, Stripe, and Venmo. Jamie Dimon, CEO of JPMorgan Chase, has called these fintechs "enormous competitive threats" to traditional banking. The popularity of fintechs has only increased during the pandemic, with many consumers turning to these platforms for their financial needs. Despite the competition, some banks are partnering with fintechs to stay relevant. According to the report, 50 per cent of banks and 40 per cent of credit unions have teamed up with fintech companies in the past three years to enhance their digital offerings. Looking ahead, many experts believe that the future of banking will revolve around personalised experiences. However, only about a quarter of financial institutions are currently using hyperpersonalization to gain a competitive advantage. There's a growing opportunity for banks to leverage personalised recommendations and offers to better serve their customers. Data is also playing a crucial role in this digital transformation. Most banks are now using data analysis to improve customer experiences, guide decision-making, and reduce development time and costs. By unlocking the potential of customer data, banks can better anticipate their clients' needs and offer tailored solutions. Allison Cerra Chief Marketing Officer at Alkami Technology, said, "We are now at a place where technology has democratised financial advice and counsel. It is no longer just the privileged upper class who can afford to get financially fit and prepare for the future."

78 pc of consumers choose digital banking over cash transactions

<ul class="summary-list"><li>My bank has lowered the APY on my high-yield savings account by almost half a percent recently.</li><li>I'm not happy that my cash is generating less returns now, and I don't know what to do.</li></ul>It's never pleasant to receive an email from your bank informing you that the interest rate on your <a target="_blank" class="" href="https://www.businessinsider.com/personal-finance/banking/best-high-yield-savings-accounts-rates-right-now">high-yield savings account</a> is decreasing.Unfortunately, like many Americans happy to collect a robust yield on their savings, I've gotten three of these notifications in the last three months as the Federal Reserve has begun to lower interest rates. From August until the end of October, the annual percentage yield (APY) on my high-yield savings account has fallen from 4.6% to 4.2%.I opened this bank account almost two years ago, right after graduating from college. Back in 2023, with inflation still elevated, interest rates were at their highest levels since the Great Financial Crisis, and it seemed like most banks were offering near-5% yields on savings. After paying off my bills every month, I would put the remainder of my paycheck into my high-yield savings account and watch the number creep up.Now, it looks like the days of a 5% APY are in the past. In September, the Federal Reserve dished out a 50 basis-point rate cut, signifying the beginning of the end for high rates. Continuing this trend, the central bank's chair, Jerome Powell, announced a <a target="_blank" href="https://www.businessinsider.com/federal-reserve-cuts-interest-rates-quarter-point-powell-inflation-election-2024-11">25 basis-point cut</a> last week, and is expected to slash rates further in the months ahead.Is there anything I can do about the state of my savings account, or do I have to watch my yield erode away slowly? Curious, I asked three financial experts for their advice on this topic.As a famous politician once said, we didn't just fall out of a coconut tree. Context is important. Patti Black, a financial advisor at Savant Wealth Management, reminded me that the recent high interest rate environment is a marked departure from the last decade, where interest rates were near zero and there was no yield on cash to be found. So, while yields dropping from nearly 5% might seem like a tough pill to swallow for someone like me who just opened an account in the last couple of years, it's still a pretty good deal when you consider where rates have been in the past.I didn't have a bank account during the post-2008 zero-interest rate policy era, so this was helpful context to have. Perhaps my generation is indeed coddled — first by our parents and now by Jerome Powell's post-pandemic rate hikes.Black also suggested that I switch up my perspective. While a rate-cutting cycle means less return on my cash, it also means lower borrowing costs for a car loan or a mortgage, which is good news for the housing market.But there are other options for where I can have my money sit, Black said. Of course, one alternative is a <a target="_blank" href="https://www.businessinsider.com/cd-rates-certificate-deposit-high-interest-where-to-invest-now-2024-10">certificate of deposit</a> (CD), which is essentially a savings account that holds money at a fixed interest rate for a fixed period of time. CDs generally pay higher interest rates than savings and money market accounts in exchange for locking up your money for anywhere between three months to many years. However, my hands are a little tied. A well-known rule of thumb is to keep three to six months of living expenses available in your bank account as an emergency fund (read: liquid and highly accessible), so it's not a good idea to lock up money in my high-yield savings account for a prolonged period time. I could withdraw my money from the CD if needed, but I'd have to pay back some or all of the interest I'd generated up until that point as a penalty.With this in mind, Black said that sometimes it doesn't matter what the rate on the high-yield savings account is — it's the best place to park cash for easy access.Armed with this context, I still wanted to see if there were more ways to put my cash to work for me.Daniel Milan, financial advisor at Cornerstone Financial Services, had some more thoughts on CDs. A three-month CD could be a good option if I were comfortable locking up my money for that period of time, according to Milan.My bank didn't offer CDs, so I would need to open up a new bank account, which isn't necessarily a bad thing. Some financial experts recommend having <a target="_blank" class="" href="https://www.businessinsider.com/personal-finance/banking/how-many-savings-accounts-can-you-have">multiple bank accounts</a> for different savings goals. Searching online, I saw <a target="_blank" href="https://www.businessinsider.com/personal-finance/banking/best-3-month-cd-rates">multiple options</a> yielding over 4.6%.However, Milan didn't recommend locking up my money for longer. Usually, the longer the term of the CD, the higher the rate. But that's not always the case in today's market."In this current environment, it makes no sense to go further out than three months on a CD because the three-month CD is paying you more than a one-year or two-year right now," Milan said.Looking at CD offerings from a variety of banks, I discovered that this was indeed true — generally, the longer the CD duration, the lower the rate, especially after a 1-year duration. Rates on 6-month and 9-month CDs were also attractive depending on the bank, but again, my liquidity needs take those off the table.Many of the banks I looked at didn't offer short-term CDs, either. For example, one option offered a 4.5% APY on an 11-month CD, 3.7% on a 2-year, and 3.5% on a 5-year.It wouldn't make sense to move my money out of my savings account without high enough compensation for the lower liquidity."You're not getting paid for that illiquidity," Milan told me.Short-term <a target="_blank" href="https://markets.businessinsider.com/bonds">Treasury bills</a> are another investment option for higher yield, and they offer more liquidity than CDs, according to Richard McHorter, a private wealth advisor at SRM Private Wealth. A three-month Treasury bill currently yields 4.43%.There's also the added benefit of tax savings, which is especially appealing for McHorter, who lives in California: "If you're a resident of a high-income tax state, I would be looking at Treasury bills."As a resident of New York City, the idea of lower taxes certainly appeals to me. If I were to buy Treasury bills, I would only need to pay federal taxes, bypassing state and local income taxes.McHorter also said that there's a lot of uncertainty about interest rates right now, and they could actually start going back up again. Trump's proposed <a target="_blank" class="" href="https://www.businessinsider.com/trump-tariffs-hit-company-stock-profits-hardest-china-investing-manufacturing-2024-11">tariff policies</a> could increase inflation, in which case the Fed would probably increase rates to combat an overheating economy, he said.If I buy a three-month Treasury bill, I can reassess the inflation situation when I get my money back in three months and reinvest it accordingly, McHorter said.When it comes to interest rates and inflation, pay attention to the data and don't try to predict the market with your money, Milan advised. <a target="_blank" href="https://www.businessinsider.com/federal-reserve-cuts-interest-rates-quarter-point-powell-inflation-election-2024-11">Jerome Powell</a> himself has said that it's too soon to say how the election results could reshape markets and interest rates."My advice to anybody would be: just be diligent in reading and interpreting the data as it comes out," Milan said. Watch inflation data and Fed commentary, and base your investing decisions on the information you have at hand.It feels like the market is a bit in limbo as everyone waits for the effects of the election to ripple through, but as Black mentioned, not taking any action right now isn't the worst decision.What's next? For starters, I'm going to sit down and crunch some numbers for what three to six months of living expenses look like for me and keep that in my high-yield savings account. With the money I have left over, I have some good options.Are you a Gen-Zer who has recently been faced with an investing predicament? Feel free to reach out to Christine at <a target="_blank" href="mailto:cji@businessinsider.com">cji@businessinsider.com</a> to share your story.

The interest rate on my high-yield savings account keeps dropping. I asked 3 experts how to earn more on my cash.

<ul><li><keyword id="30067" type="General" weightage="100" keywordseo="rbi" source="Orion">RBI</keyword> has said that 25% of the amount of I-CRR maintained by banks will be released on Saturday and another 25% on September 23. </li><li>Releasing money in tranches helps to smoothen out liquidity and avoid sudden gush of funds, says Madan Fadnavis of Bank of Baroda.</li><li></li></ul> The Reserve Bank on Friday decided to discontinue the <keyword id="18349664" type="General" weightage="50" keywordseo="incremental-cash-reserve-ratio" source="Orion">Incremental Cash Reserve Ratio</keyword> (I-CRR), which was put in place to absorb surplus liquidity following the withdrawal of Rs 2,000 currency notes, in a phased manner beginning Saturday. On August 10, the RBI mandated banks to maintain an incremental cash reserve ratio (I-CRR) of 10% on the increase in their net demand and time liabilities (<keyword id="312584" type="General" weightage="20" keywordseo="NDTL" source="Orion">NDTL</keyword>) between May 19, 2023 and July 28, 2023. The measure was intended to absorb the surplus liquidity generated by various factors, including the return of Rs 2,000 notes to the banking system. "On a review, it has been decided to discontinue the I-CRR in a phased manner," the central bank said in a statement. There is surplus liquidity in system of around Rs 75,000 cr of late, according to Madan Sabnavis, chief economist at Bank of Baroda. He adds, "Releasing money in tranches helps to smoothen out liquidity and avoid sudden gush of funds." Based on an assessment of current and evolving liquidity conditions, it has been decided that the amounts impounded under the I-CRR would be released in stages so that system liquidity is not subjected to sudden shocks and money markets function in an orderly manner, it added. The RBI said 25% of the amount of I-CRR maintained by banks will be released on Saturday and another 25% on September 23. The rest will be released on October 7. While announcing the I-CRR, RBI Governor <keyword id="6359111" type="General" weightage="50" keywordseo="shaktikanta-das" source="Orion">Shaktikanta Das</keyword> had indicated that the provision was a temporary measure for managing the liquidity overhang. The RBI had announced that the I-CRR would be reviewed on September 8, 2023, or earlier with a view to returning the impounded funds to the banking system ahead of the festival season. Following the withdrawal of the Rs 2,000 notes, the liquidity with the banks had surged significantly, the I-CRR was aimed to absorb the excess cash. As much as 93% of Rs 2000 currency notes that were in circulation on May 19 -- the day when the currency was withdrawn from circulation -- have been returned to banks. The advance tax payments are due next week which will put pressure on liquidity further. The total value of Rs 2000 banknotes received back from circulation is Rs 3.32 lakh crore up to August 31, 2023. Fadnavis adds, "The question is whether this will be adequate next week when there are tax outflow. This is because the amount coming in of around Rs 25-27,000 cr will cover the outflow through the V3R today and will not leave much surplus." (With text inputs from PTI)

RBI decides to withdraw incremental CRR in phased manner and release it by Oct 7

<ul class="summary-list"><li>Binance.US urged its customers to withdraw cash from the crypto exchange in a recent notice.</li><li>It said its partner banks are preparing to shut off fiat withdrawal channels.</li></ul>Binance's US arm is urging its customers to withdraw their cash from the crypto exchange by next week, as the Securities and Exchange Commission tightens the screws in its "ideological campaign" against the industry.In a <a href="https://twitter.com/binanceus/status/1666996908651323393" target="_blank" rel="noopener">tweet</a> Thursday evening, Binance.US alerted customers that its banking partners would be shutting off withdrawal by June 13, which could prevent the exchange from accepting deposits or issuing withdrawals in US dollars. It urged American customers to withdraw any fiat cash by the June 13 deadline, adding withdrawals could take longer than usual due to elevated activity on the platform. Customer deposits are still safe, it said, as assets are backed on a 1:1 ratio.After June 13, Binance.US will become a crypto-only platform until it can find "more stable" banking partners, it said."The SEC has taken to using extremely aggressive and intimidating tactics in its pursuit of an ideological campaign against the American digital asset industry. Binance.US and our business partners have not been spared in the use of these tactics, which has created challenges for the banks with whom we work," the exchange said in a statement."The SEC has brought unjustified civil claims against our business, from which we will continue to vigorously defend ourselves, our customers," it later added.<a href="https://markets.businessinsider.com/news/currencies/sec-sues-binance-ceo-changpeng-zhao-crypto-securities-regulation-2023-6">Binance is facing 13 charges from the SEC</a>, after being scrutinized by regulators for months over its compliance with US securities laws. Among other violations, the SEC has accused the firm of misrepresenting trading controls on Binance.US, as well as secretly allowing "high-value" US clients to trade on Binance.com, though American customers are supposed to be restricted from its main platform.

Binance.US tells customers to withdraw their cash from the exchange as the SEC pursues its 'ideological' attack on the crypto industry

Our experts answer readers' banking questions and write unbiased product reviews (<a href="https://www.businessinsider.com/personal-finance/personal-finance-editorial-standards#rating-banking-products" class="not-content-link" target="_blank">here's how we assess banking products</a>). In some cases, we receive a commission from <a href="https://www.businessinsider.com/personal-finance/our-partners" class="not-content-link" target="_blank">our partners</a>; however, our opinions are our own. Terms apply to offers listed on this page.Bottom line: The Cash App Mobile Banking - Product Name Only has no fees and unique perks, and it's easy to get one thanks to no minimum deposit. However, it's not a traditional checking account, so it's probably not the right choice if you want access to a full-service bank.<h2>Cash App Banking Review</h2>Cash App is best known for letting users <a href="https://www.businessinsider.com/personal-finance/how-to-wire-money-send-receive-cash-immediately">transfer money</a> to each other, but the company also offers the Cash Card through its banking platform. It's similar to a debit card since you can deposit cash at retail locations, direct deposit your paycheck, and withdraw money at ATMs. But there are some notable differences from your standard debit card — it's easier to set up, there are fewer fees, and you can round up transactions to invest in bitcoin or stock.The Cash App Cash Card is a strong account with no minimum deposit or monthly fees, making it more accessible than some more traditional <a href="https://www.businessinsider.com/personal-finance/best-checking-accounts">checking accounts</a>. Creating an account takes a few seconds, and once you apply, you can get instant access via Google Pay or Apple Pay. But if you use an ATM outside the network, you typically have to pay $2.50 per transaction. You also have to pay $1 per transaction to deposit paper money at retail locations, which can add up.The Cash Card also offers in-app integrations like Round Ups and instant discounts. With a few clicks, you can enable Round Ups, which automatically rounds up your purchases to the nearest dollar. You can put the extra money in your Cash App savings account, select a stock, or invest in bitcoin.Cardholders can also utilize offers for instant discounts at checkout. Cash App provides offers for various retailers, including coffee shops, retailers, and restaurants. Once you activate the offer within the app, you can use it when you pay. <h3>Cash App Pros and Cons</h3><table style="border-collapse: collapse; width: 100%; height: 44px;" border="1"><tbody><tr style="height: 22px;"><td style="width: 50%; height: 22px;">Pros</td><td style="width: 50%; height: 22px;">Cons</td></tr><tr style="height: 22px;"><td style="width: 50%; height: 22px;"><ul><li>No monthly fees or overdraft fees</li><li>Receive your paycheck up to two days early with direct deposit</li><li>In-app discount offers for purchases with certain retailers</li><li>Round up purchases to invest in stock or bitcoin</li><li>FDIC-insured account</li></ul></td><td style="width: 50%; height: 22px;"><ul><li>$2.50 charge for out-of-network ATM transactions unless you direct deposit $300 or more each month</li><li>No joint accounts</li><li>$1 fee per transaction to deposit paper money at retail locations</li></ul></td></tr></tbody></table><h2>How Cash App Banking Compares</h2><h3>Cash App Banking vs. Chime Checking Account</h3>Like Cash App, Chime aims to remove barriers that prevent customers from opening accounts. You don't need to undergo a credit check or banking history review. You also won't pay fees or have minimum account balance requirements, which is similar to the Cash Card. The main difference between the two options is that Chime Checking is a bank account, and Cash App is a financial platform that offers a debit card. Both companies provide solid products that prioritize accessibility. The type of card you want will determine which is a better fit.<a href="https://www.businessinsider.com/personal-finance/chime-bank-review">Chime Banking Review</a><h3>Cash App Banking vs. Capital One 360 Checking Account</h3>Capital One is an <a href="https://www.bankrate.com/banking/best-online-banks/" target="_blank" rel="noopener">online bank</a> with various account options, including the 360 Checking Account. The account offers the typical features associated with top banks — no fees, no minimum deposit, overdraft protection, and a user-friendly app. You have to pay a $2 fee for using an out-of-network ATM, which is nearly the same as Cash App's fee. Capital One offers a discount program with the Capital One Shopping browser. However, the in-app Cash Card discounts provide a more seamless customer experience. It's easy to set up an account with Capital One, and if you prefer access to in-person branches, it might be a better pick. Plus, once you have a Capital One account, applying for additional ones only takes a few seconds. <a href="https://www.businessinsider.com/personal-finance/capital-one-bank-review">Capital One 360 Bank Review</a><h2>Cash App Banking FAQs</h2><h3 class="faq-question">What banking does Cash App use?</h3>Cash App is not a bank. Since it's a banking platform, Cash App partners with Sutton Bank to offer the card. However, it's not a checking account. If you have questions or need assistance with the card, <a href="https://cash.app/help" target="_blank" rel="noopener">contact Cash App</a> instead of Sutton Bank.<h3 class="faq-question">How long does a Cash App card take to arrive?</h3>The application for a Cash App card is quick, and once you apply, you usually get instant access to the card through Apple Pay or Google Pay. The physical card arrives in the mail within 14 days.<h3 class="faq-question">Do you need a bank account for a Cash App Cash Card?</h3>You do not need a bank account for a Cash App Cash Card. You can deposit paychecks, send money, pay for purchases, withdraw at ATMs, and add paper money to your Cash Card without a bank account. Some of those transactions have fees, though.<h3>Why You Should Trust Us: How We Reviewed Cash App Banking</h3>We used Personal Finance Insider's <a href="https://www.businessinsider.com/personal-finance/how-we-rate-checking-savings-money-market-accounts">bank account rating methodology</a> to review the Cash Card. Even though Cash App is not a bank, it offers a debit card, which is typically a banking product. To create a rating for the account, we looked at customer service, the mobile app, ethics and fees. Each category received a rating between 0 and 5, and our ratings factor in how the Cash Card compares to similar accounts. We then averaged those numbers to create a final score.

Cash App Banking Review 2023

<ul class="summary-list"><li>Investor Whitney Tilson says he felt "deceived" after watching the Biden debate with Trump last week.</li><li>Tilson said Biden should pull out "if the man I saw at the debate is the real Joe Biden right now."</li></ul>Investor <a target="_blank" href="https://markets.businessinsider.com/news/stocks/whitney-tilson-touts-a-stock-pretty-close-to-berkshire-will-continue-to-be-a-long-term-winner-1032275357">Whitney Tilson,</a> a longtime donor to President Joe Biden, says he's reconsidering his support for Biden after his stumbling performance at last week's presidential debate."I feel deceived. For months my Republican friends have been sending me videos from Twitter and Fox 'News' that appear to show Biden's dementia," Tilson <a target="_blank" href="https://x.com/whitneytilson/status/1807239014157586631">wrote</a> in an X post on Saturday."Though I was concerned, I was mostly able to dismiss these often deceptively-edited videos as the usual Republican attack machine idiocy because I remember how they tried to do the same to Hillary in 2016," he continued. "But the debate changed all that."The former hedge fund manager said Biden must withdraw from the presidential race if his bad performance on Thursday's debate was not a one-off.Biden's withdrawal, the <a target="_blank" href="https://www.opensecrets.org/donor-lookup/results?cand=&amp;cycle=&amp;employ=&amp;name=Whitney+Tilson&amp;order=desc&amp;sort=A&amp;state=NY&amp;zip=">longtime Democratic donor</a> said, is now critical if the Democrats want to have any chance of beating former President Donald Trump in November."If it's as bad as what we all witnessed on Thursday night, then he needs to put his country first and step aside immediately," Tilson wrote."I will fight to my dying breath to stop Trump and his toxic Trumpism, but if the man I saw at the debate is the real Joe Biden right now, then it would be a waste of my time and money to support him because he has almost no chance of beating Trump," he continued.Tilson added that he would still vote for Biden if he stays on but would instead "channel all of my energies into helping Democrats hold the Senate and retake the House."Representatives for Biden and Tilson did not immediately respond to requests for comment from BI sent outside regular business hours.Remarks made by high-profile donors like Tilson are likely a source of concern for the Biden campaign, which has been <a target="_blank" href="https://www.businessinsider.com/joe-biden-defense-disaster-debate-backfire-experts-say-2024-7">working hard to assuage supporters</a> of Biden's mental acuity following last week's debate.Biden's performance on Thursday was <a target="_blank" href="https://www.businessinsider.com/jon-stewart-biden-looked-like-resting-25th-amendment-face-2024-6">riddled with gaffes and stumbles</a> as he sought to make the case for his candidacy against his GOP rival, Trump.The setback on the debate stage has only compounded fears and worries about Biden's cognitive decline and his fitness for the Oval Office. Some have even called for the 81-year-old to be <a target="_blank" href="https://www.businessinsider.com/not-too-late-for-democrats-replace-biden-choose-another-candidate-2024-6">replaced as the presumptive Democratic nominee</a>.Billionaire <a target="_blank" href="https://www.businessinsider.com/mark-cuban-sell-dallas-mavericks-leave-shark-tank-2023-11">Mark Cuban</a>, who once said that he'd still vote for Biden even if the president "<a target="_blank" href="https://www.businessinsider.com/mark-cuban-will-vote-for-joe-biden-despite-his-age-2024-3">was being given last rites</a>," said on Friday that he was <a target="_blank" href="https://www.businessinsider.com/mark-cuban-still-a-biden-man-after-bad-debate-2024-7">willing to consider swapping Biden out</a> for another candidate."Trump is far better than Biden at soundbites and marketing. That's reality," Cuban <a target="_blank" href="https://x.com/mcuban/status/1806695973298610671">said</a> in an X post. "For that reason, I'm also open to the discussion to replace Biden and/or Harris."It's not like Trump's approval ratings are high. They aren't. It could be an open door to find someone immediately out-performing Trump," he continued. "But if that doesn't happen, I'm still voting for Biden.

A Biden donor says giving him cash is a waste of time and money if that bad debate showed what Biden's really like

<ul class="summary-list"><li>When <keyword id="23536695" type="General" weightage="20" keywordseo="Planet-Fitness" source="keywords" meta.keywordsubtype="org" meta.entityname="Planet Fitness" meta.hostid="261" meta.entityid="Planet Fitness">Planet Fitness</keyword> CEO <keyword id="23566960" type="General" weightage="20" keywordseo="Chris-Rondeau" source="keywords">Chris Rondeau</keyword> was fired, it was a surprise to nearly everyone.</li><li>But former employees tell Insider Rondeau's behavior raised eyebrows among some at headquarters.</li></ul>When <a target="_blank" href="https://www.businessinsider.com/planet-fitness-ceo-chris-rondeau-fired-gym-plnt-stock-price-2023-9">Chris Rondeau</a>, ten-year CEO of Planet Fitness, was fired by the company's board of directors, he told Insider he was "seriously blindsided." "I wasn't finished," he told Insider in a text message last month. "I had the best team best franchisees and an amazing business." Confusion over Rondeau's abrupt departure sent shares for the largest gym network in the US plummeting by 20%, slicing off more than $1 billion in market cap. Meanwhile, the exact reasons behind the board's decision are still unclear. As questions about Rondeau's departure continue to go unanswered, Insider has learned that his hard-partying ways raised eyebrows among some staff. Insider spoke with six former Planet Fitness employees. Some former staffers pointed to drinking in the office and Rondeau asking company staff to withdraw thousands from Rondeau's personal accounts to pay for cash-fueled weekend getaways — even after a lawsuit claimed Planet Fitness suffered from a "debaucherous" alcohol-fueled environment — as red flags. Planet Fitness and Rondeau did not respond to requests for comment. <div type="image" title="Former Planet Fitness CEO Chris Rondeau on the New York Stock Exchange in 2015 after the company's IPO." height="2333" width="3500" msid="104695594" hostid="261"></div><h2>Kegs and cash</h2>Two former employees confirmed Rondeau kept a keg in his office at Planet Fitness headquarters in Hampton, New Hampshire. A former employee told Insider she felt the keg was unprofessional, while a former executive assistant defended it, saying the keg was "locked and frequently untouched." In a 2018 <keyword id="23566963" type="General" weightage="20" keywordseo="workplace-lawsuit" source="keywords">workplace lawsuit</keyword> against Rondeau and other executives, former employee Casey Willard said drinking on the job was encouraged, describing events like "Fireball Fridays" and "Beers with Peers" that sometimes started before 8:30 AM. In court, lawyers for Rondeau denied claims about debauchery but said "some employees periodically consumed alcohol during work hours at certain times." "Everybody drank," a third former employee told Insider. "It was the most toxic, high-school environment." One of the two former employees who recalled a keg being in Rondeau's office said drinking that took place at work wasn't compulsory or disruptive. Willard's lawsuit didn't prompt the keg's removal, either; it remained there even after the lawsuit was filed, one employee said. Former employees also told Insider Rondeau would ask assistants, who were company employees, to obtain thousands of dollars in cash ahead of leisure trips he asked them to coordinate. The former executive assistant for Rondeau said he used the cash, taken from his personal bank accounts, to tip when he went to dinner or to buy coffee from Dunkin Donuts. "He's a generous tipper, there's no denying that," the former executive assistant said, adding that she didn't think the amount of cash Rondeau traveled with was excessive for the CEO of a publicly traded company. Rondeau would travel with thousands of dollars in cash on trips spanning a single weekend, another former employee said. One former employee said these trips often blurred the line between leisure and business. Rondeau would often meet with <keyword id="19956269" type="General" weightage="20" keywordseo="franchise-owners" source="keywords">franchise owners</keyword> on the trips, people with whom he had both professional and personal relationships, the former employee recalled. Rondeau's separation agreement bars him from contacting any Planet Fitness employees about his employment, except those in the legal or human-resources divisions per his separation agreement, Insider previously reported. A spokesperson for Planet Fitness previously told Insider Rondeau's departure was not because of "any material or unexpected financial events." A September earnings call made shortly before Rondeau's ouster painted an upbeat picture of the company's business prospects — and the company's same-store sales rose nearly 9% last quarter. But the gym's dirt-cheap pricing scheme — just $10 a month to join — had increasingly come under scrutiny as inflation drove up prices. In what would be his final earnings call as CEO, Rondeau said he wouldn't budge on the $10-a-month pricing, saying it would "cheapen the brand." Rondeau was a fixture at Planet Fitness, starting front desk associate at the company's first gym in 1993 and ascending to CEO in 2013 — but his tenure had rough patches. In her workplace lawsuit, Casey Willard said she was drugged and raped by a manager on a work trip and then pressured into a relationship with her boss, Insider previously reported. Willard also said Rondeau and another executive had sexual relationships with subordinates, which they denied in a court filing. Willard and Planet Fitness settled the lawsuit in 2021 for undisclosed terms. Rondeau, in a text message sent to Insider in late September, said he never had an inappropriate relationship with an employee, "absolutely not on my kid's life." Know more about Planet Fitness? Contact reporter Katherine Long via encrypted messaging app Signal (+1-206-375-9280) or email (<a target="_blank" href="mailto:klong@businessinsider.com">klong@businessinsider.com</a>), or reporter Jack Newsham via Signal (+1-314-971-1627) or email (<a target="_blank" href="mailto:jnewsham@insider.com">jnewsham@insider.com</a>).

Planet Fitness CEO Chris Rondeau's firing is still a mystery, but some ex-staff say kegs and cash-fueled weekend trips were common

<ul class="summary-list"><li>To withdraw <keyword id="11918408" type="UNKNOWN" weightage="60" keywordseo="money" source="Orion">money</keyword> using the iOS or Android apps, you'll have to navigate to your account settings and then click on the transfers option using the website or app.</li><li>But before you can withdraw money from your Robinhood account, you'll have to meet certain requirements, depending on where the money came from.</li><li>You can make up to five withdrawals a day and are limited to $50,000 per business day.</li></ul>Robinhood is one of the most popular trading platforms for young investors, but <a href="https://markets.businessinsider.com/news/stocks/robinhood-stock-market-controversial-week-traders-cyberattack-accounts-trading-margin-2020-10" target="_blank" rel="noopener">not all users are happy</a>. If you want to switch from Robinhood to one of Insider's <a href="https://www.businessinsider.com/personal-finance/what-are-the-best-investment-apps" target="_blank" rel="noopener">top-ranked</a> investment apps, you can either directly transfer securities out of Robinhood into your new <a href="https://www.businessinsider.com/what-is-a-brokerage-account" target="_blank" rel="noopener">brokerage account</a>, or you can sell your <a href="https://www.businessinsider.com/what-is-stock" target="_blank" rel="noopener">stocks</a> and <a href="https://www.businessinsider.com/how-to-buy-cryptocurrency" target="_blank" rel="noopener">crypto</a> and transfer the money into your bank account. It's easy to withdraw money from Robinhood on your iOS or Android mobile device - or by using their website. If you can, it's best to withdraw your cash into the same bank account you used to fund your account. Otherwise, Robinhood may ask you for extra documents to prove that you own the bank accounts in question. <h2>Before you withdraw your funds</h2>Robinhood users should look out for a few rules that limit how and when they can withdraw their cash from their accounts. <ul><li>You may be required to wait up to five business days after depositing funds. Robinhood has an "Instant Deposits" policy, which means some customers can start trading as soon as they've moved cash into their Robinhood account from their checking or savings account. But there's a catch: even though you might be able to buy and sell stock with your "instant deposits," you won't be able to transfer your cash back out of Robinhood right away. Once you've moved money into your Robinhood account, you're typically required to wait up to five business days before you can move that money out. </li></ul><ul><li>After selling stock, you must wait for the trade to settle. When you buy or sell stocks, ETFs, or options in the United States, it takes three business days for those trades to "settle," which means the trade is officially complete. If you're a Robinhood Gold or a Robinhood Instant user, you may be eligible for instant settlement, which means you can withdraw any proceeds right after you sell stocks, ETFs, or, options. </li></ul><ul><li>You can make only five withdrawals per business day. If you've already hit that limit, you'll have to wait until the next business day to make any additional transfers.</li></ul><ul><li>You can withdraw only $50,000 per business day. If you have a large balance that exceeds that amount, you will have to withdraw money in lump sums.</li></ul><ul><li>You have to wait 30 days to withdraw funds from selling free stock. You know that <a href="https://markets.businessinsider.com/news/stocks/robinhood-free-stock-sec-finra-regulation-nyse-proxy-statements-hood-2021-08" target="_blank" rel="noopener">free stock</a> you received from Robinhood's Referral program? Robinhood will let you sell that stock right away if you want, but you have to keep the cash value of that stock in your account for 30 days before you can withdraw it. </li></ul><ul><li>You'll face special rules if you're switching bank accounts. Watch out if you funded your Robinhood account with one bank account, and want to move your money into a different bank account. That can look suspicious, and Robinhood has some special rules that apply in that situation. They may ask you to send some documents to prove you're really the owner of both bank accounts, like sending pictures of your photo ID or bank statements. To avoid the hassle, it's best if you can withdraw your cash into the same bank account that funded your Robinhood account.</li><li>You may not be able to withdraw money while your account is restricted. Robinhood sometimes restricts users' accounts. That can happen if the user has a negative balance, had a bank account transaction reversed, if the user is suspected of fraud, or for a few other reasons. If your account is restricted, you may not be able to withdraw any money until you've contacted Robinhood to clear things up.</li></ul><h2>How to withdraw money from Robinhood on iOS </h2><ol><li>Tap the account icon in the bottom-right corner.<div type="image" title="A screenshot of Robinhood on iOS with a circle around the account icon, which looks like the head and torso of a person." height="219" width="500" msid="86668439" hostid="261"></div></li><li>Click on the three lines located in the top right corner (often called a "hamburger").<div type="image" title="A screenshot of an account on Robinhood iOS with a box around the Setting menu icon, which looks like three horizontal bars stacked on each other." height="252" width="410" msid="86668440" hostid="261"></div></li><li>Select Transfers.<div type="image" title="A screenshot of the Settings Menu on Robinhood iOS with a box around the &quot;Transfers&quot; option." height="479" width="572" msid="86668441" hostid="261"></div></li><li>Tap Transfer Money.<div type="image" title="A screenshot of the Transfer Money option on the Transfers screen of Robinhood iOS." height="304" width="589" msid="86668442" hostid="261"></div></li><li>Enter the dollar amount and hit Continue. Select Robinhood for the "From" field and then the bank account of your choosing for the "To" field. Then select Transfer.<div type="image" title="A screenshot of the Transfer screen on Robinhood iOS." height="759" width="587" msid="86668443" hostid="261"></div></li></ol><h2>How to withdraw money from Robinhood on Android</h2><ol><li>Tap the account icon in the bottom right corner.<div type="image" title="A screenshot of the Robinhood Android homepage with a box around the account icon, which looks like the head and torso of a person." height="244" width="562" msid="86668444" hostid="261"></div></li><li>Click on the three lines located in the top right corner (often called a "hamburger").<div type="image" title="A screenshot of an account on Robinhood Android with a box around the Menu button, which looks like three horizontal bars stacked on each other." height="278" width="467" msid="86668445" hostid="261"></div></li><li>Tap Transfers.<div type="image" title="A screenshot of the Settings Menu on Robinhood Android with a box around the Transfers option." height="247" width="529" msid="86668446" hostid="261"></div></li><li>Tap Transfer to Your Bank.<div type="image" title="A screenshot of the Transfers screen on Robinhood Android with a box around the &quot;Transfer Money&quot; option." height="285" width="592" msid="86668447" hostid="261"></div></li><li>Enter the dollar amount and hit Continue. Select Robinhood for the "From" field and then the bank account of your choosing for the "To" field. Then select Transfer.<div type="image" title="A screenshot of the Transfer screen on Robinhood Android." height="895" width="595" msid="86668448" hostid="261"></div></li></ol><h2>How to withdraw money from Robinhood on the web</h2><ol><li>Navigate to the Transfers screen.<div type="image" title="A screenshot of the transfers screen of Robinhood on a web browser." height="398" width="530" msid="86668449" hostid="261"></div></li><li>Fill in transfer details and select Review transfer.<div type="image" title="A screenshot of the transfer details screen on Robinhood on a web browser." height="369" width="783" msid="86668450" hostid="261"></div></li><li>Click Submit.<div type="image" title="A screenshot of the review transfer screen on Robinhood on web browser." height="459" width="483" msid="86668451" hostid="261"></div></li></ol><h2>The financial takeaway</h2>You can easily transfer money out of Robinhood into your bank account. But there's a few catches. Most importantly, you can't take money out until five business days after you've transferred that money into Robinhood. You'll also need to wait three business days after selling stocks, ETFs, or options before you can withdraw the proceeds. On the iOS or Android app, get started by tapping the "Account" button in the bottom right of the screen, which looks like a cartoon person. From your browser window, get started by clicking "Account" in the top right, and then click "Transfers."<a data-type="60ad76c4e5224e47165fbabb">Is Robinhood safe? Experts weigh in on using the commission-free investing app</a><a data-type="613a241ebd69125fd4743686">Start investing in mutual funds in 4 steps</a><a data-type="612d03512311696e87596e70">Here are all the fees you'll pay when using the Robinhood app - and how to avoid them</a><a data-type="611143fb0d5b755b492d74c3">Stock trading: How to get started for beginners</a>

How to withdraw money from the Robinhood app

The decision of the Reserve Bank of India (RBI) to withdraw Rs 2,000 denomination banknotes from circulation will not have any major impact on <keyword id="47316" type="General" weightage="20" keywordseo="gold-demand" source="Orion">gold demand</keyword> and also on the <keyword id="109488" type="General" weightage="20" keywordseo="rupee-value" source="Orion">rupee value</keyword>, an expert said on Saturday. According to the expert, the number of Rs 2,000 denomination notes in circulation (or stocked in lockers) is not huge. "The number of Rs 2,000 currency notes in circulation is not large. This is not like <keyword id="3315394" type="General" weightage="20" keywordseo="demonetisation" source="Orion">demonetisation</keyword> of Rs 500 and Rs 1,000 currency notes that happened in 2016," Hareesh V., Head of Commodities Research, Geojit Financial Services told IANS. According to Hareesh, there are other investment avenues and further, there is a limit for using hard cash to purchase gold. "The RBI decision will also not have any bearing on the gold/silver futures," he said. The RBI on Friday said Rs 2,000 denomination notes to the value of Rs 3.62 lakh crore were in circulation on March 31, 2023. Hareesh said even if people decide to convert their Rs 2,000 into US dollars, there will not be any major impact on the value of the Indian rupee. "As witnessed during demonetisation, we expect the deposit accretion of banks could improve marginally in the near term. This will ease the pressure on deposit rate hikes and could also result in moderation in short-term interest rates," Karthik Srinivasan, Senior Vice President Financial Sector Ratings, ICRA said. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/international/news/check-out-worlds-most-expensive-ice-cream-costs-and-why/slidelist/100375438.cms">Price of ice: World’s most expensive ice cream created by Japanese brand</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/corporates/news/zomato-net-loss-narrows-to-188-crore-in-q4-revenue-rises-70-yoy/articleshow/100358894.cms">Zomato net loss narrows to ₹188 crore in Q4, revenue rises 70% YoY</a>

Rs 2,000 note withdrawal may not impact gold demand, rupee value: Expert

Mumbai, June 8 (IANS) Soon, you may be able to withdraw cash from an <keyword id="48577" type="TECHNOLOGY" weightage="20" keywordseo="ATM">ATM</keyword> without touching any part of the machine. AGS Transact Technologies, a provider of cash and digital payment solutions and automation technology, on Monday said it has successfully developed and tested a touchless ATM solution in light of the Covid-19 pandemic. The 'contactless' solution, currently under demo at interested banks, enables a customer perform all the steps required to withdraw cash from an ATM using the mobile app itself. The customer simply has to scan the QR code displayed on the ATM screen and follow the directions on their respective bank's mobile application. This includes entering the amount and mPIN required to dispense the cash from the ATM machine. According to the company, the QR code feature makes cash withdrawals quicker and more secure, and negates the chances of compromising the ATM Pin or card skimming. "The new Touchless ATM solution is an extension of the flagship QR Cash solution which ensures safety of the users and will provide a seamless cash withdrawal experience with enhanced security," said Ravi B. Goyal, Chairman and MD, AGS Transact Technologies Ltd. With minimum investment, the banks can enable this solution for their ATM networks by upgrading the existing software. AGSTTL has so far installed, maintained and managed a network of over 72,000 ATMs across the country and also provides customised solutions to leading banks. The company earlier introduced UPI-QR based Cash withdrawal solution in partnership with Bank of India. This is how the solution works. Open the Bank mobile application on your smartphone and select QR Cash Withdrawal. Enter the amount you wish to withdraw on the mobile app and scan the QR code on the ATM screen. Next, confirm the amount by clicking on 'proceed' in the app and enter the mPin to authenticate the transaction. Now collect the cash and receipt and you are done. "The seamless, cardless and touchless withdrawal method is designed to provide easy transaction flow, without the need to touch the ATM screen or enter the pin," said Mahesh Patel, President and Group Chief Technology Officer, AGS Transact Technologies. --IANS na/

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