Life

Trump Pays $3 Million For Partial Wisconsin Vote Recount

Big Biking Commune launches initiative to help mechanics, garages

The Big Biking Commune, an aggregator platform in the motorcycling community in India and Southeast Asia, has launched the My Mechanic, My Friend initiative to help mechanics and garages. The campaign is supported by the All-India Two-Wheeler Mechanic Federation, the Maharashtra Two-Wheeler and Mechanic Federation, and the Tamil Nadu Two-Wheeler Welfare Association which represent over 48,000 mechanics.

“As one of the largest aggregator platforms in the motorcycle community, we want bikers to go on more rides which will boost the businesses of workshops and garages. Mechanics have always had our back, and now it is time we show them our support. During the pandemic, motorcycles are the safest way to travel,” says Arun Kumar, chief convener, Big Biking Commune

As part of the campaign, bikers can register, nominate a mechanic, go on a ride and share a picture on social media, which will encourage more bikers to support their mechanics. To register, visit mymechanicmyfriend.com, or call 7337657740.

How much you need to save every month to earn $60,000 a year in interest alone for retirement

The average American household spent more than $60,000 in 2019.

To keep up that level in retirement, without depleting your savings, you'll need to have a large nest egg generating money from your investments.

CNBC crunched the numbers, and we can tell you how much you need to save now to get $60,000 every year in retirement, without taking a bite out of your principal.

First, some ground rules. The numbers assume you will retire at 65 and have no money in savings now.

For investing, we assume an annual 6% return when you are saving and a more conservative 3% rate for your "interest-only" retirement. We do not factor in inflation, taxes or any additional income you may get from Social Security.

Check out this video to learn more.

More from Invest in You:
How much you can expect to get from Social Security if you make $40,000 a year
The real 'Catch Me If You Can' con artist says this classic scam is making a comeback

Disclosure: NBCUniversal and Comcast Ventures are investors in Acorns.

Stock Alert: Phoenix Tree Surges 94%

Shares of Phoenix Tree Holdings Limited (DNK) are skyrocketing more than 94 percent or $2.27 in Wednesday’s morning trade at $4.67 despite no company-centric news.

U.S. stocks are mostly higher on Wednesday in reaction to more upbeat news regarding the coronavirus vaccine candidate being developed by Pfizer and BioNTech. The companies said the final efficacy analysis of their ongoing Phase 3 study of the coronavirus vaccine candidate indicated a vaccine efficacy rate of 95 percent.

Phoenix Tree leases apartments from property owners and rents them to residents and corporate clients in the People’s Republic of China.

The stock has traded in a range of $1.27 to $13.90 in the past 52 weeks.

How growing consumer demand for tech solutions is accelerating innovation in financial services

  • This is a preview of Business Insider Intelligence premium research content.
  • Business Insider Intelligence analyzes this industry and several others to provide in-depth analyst reports, proprietary forecasts, customizable charts, and more. Check if your company has BII Enterprise membership access.
  • Business Insider Intelligence offers even more fintech coverage with our Fintech Briefing. Subscribe today to receive industry-changing financial technology news and analysis to your inbox.

Want more Fintech research? Here's how to get access:

  1. Business Insider Intelligence analyzes the fintech industry and provides in-depth analyst reports, proprietary forecasts, customizable charts, and more. >> Check if your company has BII Enterprise membership access to the full report
  2. Sign up for the Fintech Briefing, Business Insider Intelligence's expert email newsletter tailored for today's (and tomorrow's) decision-makers in the financial services industry, delivered to your inbox 6x a week. >> Get Started

COVID-19: UK records another 529 coronavirus deaths and 19,609 further cases

The UK has recorded another 529 coronavirus deaths and a further 19,609 cases in the latest 24-hour period.

Stock Alert: PaySign Tanks 30%

Shares of PaySign Inc. (PAYS) tanked over 30% on Wednesday morning hurt largely by its third-quarter results.

PAYS is currently trading at $4.14, up $2.00 or 32.57%, on the Nasdaq.

Third-quarter net loss was $6.2 million or $0.12 per share, compared to net income of $2.96 million or $0.05 per share.

Third-quarter total revenue were negative $153 thousand, compared to $9.0 million last year, due to a $6.3 million charge for a change in accounting estimate.

Trump Pays $3 Million For Partial Wisconsin Vote Recount

MADISON, Wis. (AP) — President Donald Trump has paid $3 million for a partial recount in Wisconsin but has yet to file a petition indicating which counties it is targeting, the Wisconsin Elections Commission said Wednesday.

The Trump campaign has told the commission that it will file the petition by the 5 p.m. deadline, the commission tweeted.

A statewide recount would cost Trump $7.9 million. The $3 million he paid would be enough to cover the $2.8 million cost of a recount in the state’s two most Democratic counties of Milwaukee and Dane. In those counties, Democrat Joe Biden received 577,455 votes. He won statewide by 20,608 votes, based on canvassed results submitted by the counties.

The recount, once formally approved by the elections commission chair, could start as soon as Thursday and no later than Saturday. It would have to be complete by Dec. 1.

Recounts in Wisconsin and across the country have historically resulted in very few vote changes. A 2016 presidential recount in Wisconsin netted Trump an additional 131 votes.

Trump won Wisconsin by fewer than 23,000 votes that year and opposed the recount brought by Green Party candidate Jill Stein.

Trump and other Republicans have made claims of fraud and irregularities in the Wisconsin election, without evidence. The state’s top elections chief and local officials have said there were no substantial reports of problems or wrongdoing.