Finance

Verizon clears $10M in debt for North Carolina residents impacted by Hurricane Helene

Published

2 months ago

February 3, 2025

Check out what’s clicking on FoxBusiness.com.

Verizon is teaming up with ForgiveCo to clear $10 million in consumer debt for more than 6,500 North Carolinians impacted by Hurricane Helene.

The communications company said the debt relief campaign is aimed at assisting with the ongoing recovery following the September 2024 storm.

ForgiveCo’s “random acts of kindness” purchased the debts in the form of medical, financial and other debts of necessity in the affected areas without any applications required and notified the lucky recipients through surprise letters, emails and text messages.

HURRICANE HELENE DEVASTATION COULD COST UP TO $34B, MOODY’S SAYS

ForgiveCo CEO Craig Antico and his son, Erik. (ForgiveCo)

“Unpayable debt is a heavy burden that causes hardship for countless hardworking Americans,” said Craig Antico, ForgiveCo Founder and CEO. “Often triggered by sudden medical events or accidents, the impact of natural disasters can further destabilize families and limit opportunities for generations. Through this effort, Verizon will bring transformative change to the lives of North Carolinians in crisis, leaving a lasting mark on future generations.”

A news conference at Verizon’s South Asheville store announced that the debt had been forgiven and that no other action would be required by the recipients.

Workers, community members, and business owners clean up debris in the aftermath of Hurricane Helene in Marshall, North Carolina on Monday, Sept. 30, 2024. (Jabin Botsford/The Washington Post via Getty Images / Getty Images)

The random act of kindness was in addition to Verizon’s initial $400,000 donation to United Way of North Carolina following the storm.

“Verizon believes in the power of connection, not only through our technology but through the bonds we build with the communities we serve,” said Leigh Anne Lanier, president of Verizon’s Atlantic South Market. “To the 6,500 individuals impacted by this initiative and the broader Western North Carolina community, we are with you. We will always stand by you, not just as a business, but as a partner and a neighbor.”

NORTH CAROLINA LAWMAKER WARNS HURRICANE HELENE RECOVERY COULD TAKE ‘YEARS’

In this photo illustration Verizon Wireless logo seen displayed on a smartphone and in the background. (Photo Illustration by Igor Golovniov/SOPA Images/LightRocket via Getty Images) (Photo Illustration by Igor Golovniov/SOPA Images/LightRocket via Getty Images / Getty Images)

GET FOX BUSINESS ON THE GO BY CLICKING HERE

Basketball Hall of Fame coach and Asheville native, Roy Williams, signed on to deliver the news to the impacted families.

“Verizon’s random acts of kindness will lift up thousands of North Carolinians that were left vulnerable to Hurricane Helene’s devastation. These are challenging times, but I’ve seen the strength and resilience of this community. Verizon’s support is a powerful reminder that no one is alone, and together, we’ll rise stronger. It’s a privilege to share this message of hope with the incredible people of North Carolina,” he said.

Finance

Goldman Sachs (GS) earnings Q1 2025

Published

4 hours ago

April 14, 2025

Business Finance News

David Solomon, CEO of Goldman Sachs, testifies during a Senate Banking Committee hearing at the Hart Senate Office Building in Washington, D.C., on Dec. 6, 2023.

Win Mcnamee | Getty Images

Goldman Sachs is scheduled to report first-quarter earnings before the opening bell Monday.

Here’s what Wall Street expects:

Earnings: $12.35 per share, according to LSEG
Revenue: $14.81 billion, according to LSEG
Trading Revenue: Fixed Income of $4.56 billion and Equities of $3.65 billion, per StreetAccount
Investing Banking Revenue: $1.94 billion, per StreetAccount

Goldman Sachs may prove to be a beneficiary of the recent market environment.

On Friday, rivals JPMorgan Chase and Morgan Stanley each topped expectations for first-quarter results on booming equities trading.

Equities trading revenue surged 48% and 45% at the banks, respectively, thanks to volatility in the opening months of President Donald Trump’s tenure amid his efforts to reshape global trade agreements.

Buoyant markets during most of the quarter, which ended March 31, should also support the bank’s wealth and asset management division, which CEO David Solomon has called the growth engine of the bank.

But markets have churned since Trump escalated trade tensions last week, sowing uncertainty across the world’s largest economy. Goldman shares have dropped 14% this year through Friday.

Analysts will be keen to hear what Solomon has to say about his conversations with corporate clients and institutional investors during the tumult.

This story is developing. Please check back for updates.