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BI Prime Finance 2020-05-28T15:41:00Z
Sabine Keller Busse UBS

Robots, remote hires, and insourcing: A top UBS exec lays out how the Swiss bank is tackling the future of work

UBS's COO gives her outlook for the bank's use of robots; insourcing; remote hiring; its real-estate footprint; and business-continuity sites.
BI Prime Finance 2020-05-28T12:30:00Z

Investors are flying blind during the pandemic when it comes to valuing private shares — and it could be what finally makes unicorn profitability a must-have

Investors typically rely on company projections and disclosures to estimate valuations, but the pandemic has disrupted forecasts and delayed filings.
BI Prime Finance 2020-05-28T12:30:00Z
Nigel Morris

There's never been a better time for banks to buy fintechs, according to a Capital One cofounder. Here's why both sides need each other more than ever.

Nigel Morris, who cofounded Capital One and spent 10 years as its president and chief operating officer, explained why the two sides need each other.
Markets 2020-05-29T10:00:31Z

Global stocks fall as investors brace for Trump to hit China with a 'bazooka'

Analysts said "Trump won't look good if he has the whole world watching him, and he produces a small water pistol and not a bazooka."
Markets 2020-05-29T09:19:21Z

Warren Buffett's Berkshire Hathaway lost Bill Gates as a director this year. Here are its 14 board members.

Buffett's board still includes right-hand man Charlie Munger, and former American Express, Yahoo!, and NBCUniversal executives.
Finance 2020-05-29T05:02:00Z

These are the top 5 UK financial institutions ranked by the mobile banking features consumers value most

Business Insider Intelligence's first annual UK Mobile Banking Competitive Edge Study shows 72% of all UK respondents use mobile banking.
Finance 2020-05-29T04:00:00Z

FINTECH MEGADEALS: How FIS-Worldpay, Fiserv-First Data, and Global Payments-TSYS will reshape the payments landscape

Business Insider Intelligence explores key drivers fueling consolidation in the payments space and analyzes three massive payments acquisitions.
Finance 2020-05-28T23:02:00Z

TECH COMPANIES IN FINANCIAL SERVICES: How Apple, Amazon, and Google are taking financial services by storm

Business Insider Intelligence examines how Apple, Google, and Amazon are gaining a larger foothold in the global financial services industry.
Finance 2020-05-28T22:01:00Z

These 5 factors are transforming the payments experience for both consumers and businesses

Business Insider Intelligence has created an infographic showcasing compelling statistics from its recent payments and commerce research.
Markets 2020-05-28T20:08:25Z

US stocks erase gains, close negative after Trump announces Friday press conference on China

Stocks snapped a three-day winning streak amid mounting concerns that the US-China conflict is escalating.
Markets 2020-05-28T19:21:04Z

US corporate bond sales surge past the $1 trillion threshold at the fastest pace ever

Only $548 billion worth of bonds were sold at the same time last year, Bloomberg reported, and the $1 trillion level wasn't reached until November.
Finance 2020-05-28T19:05:00Z

THE GLOBAL NEOBANKS REPORT: How 26 upstarts are winning customers and pivoting from hyper-growth to profitability in a $27 billion market

This report explores how the neobank market has grown rapidly, and what's in store as the industry pivots from hyper-growth to sustainability.
BI Prime Enterprise 2020-05-28T18:51:34Z

Days after layoffs, an Uber exec sold over half her Uber stock for $8.6 million, while cofounder Garrett Camp has sold $69.6 million in stock since March 12

Jill Hazelbaker, who runs Uber's marketing, got tongues wagging by a big stock trade during these troubled times.
Markets 2020-05-28T18:36:37Z

US mortgage rates fall to a record low for the 3rd time since March

"The housing market is continuing its path to recovery as various states reopen, leading to more buyers resuming their home search," said Joel Kan.
BI Prime Finance 2020-05-28T18:19:00Z

Web traffic data shows the biggest winners and losers across 11 different industries during the pandemic: Interest in Chipotle soared while Gucci traffic sank

Data from SimilarWeb shows just how much busier pandemic traffic for darlings like Zoom and Peloton have been since people were forced to stay inside.
BI Prime Finance 2020-05-28T17:29:00Z

A smart home startup just raised $60 million from Amazon, Fifth Wall, and Bain days after launching an app that lets residents give remote access for deliveries, guests, and self-guided tours

SmartRent provides keyless entry, smart lights, and other software for apartment units and was launched by former Invitation Homes and Starwood Waypoint executives.
Finance 2020-05-28T17:03:00Z

LATIN AMERICA FINTECH LANDSCAPE: An inside look at 5 of the most innovative regions propelling the LATAM fintech market to surpass $150 billion

This report identifies five key fintech markets in the region that provide meaningful insights into Latin America's fintech ecosystem.
Markets 2020-05-28T17:00:34Z

The US-China trade war has erased $1.7 trillion from US companies' market value, Fed report says

US firms "bore virtually all of the cost" of the new tariffs, the Fed's report said, eating away at earnings over the two-year conflict.
BI Prime Finance 2020-05-28T16:59:00Z

IBM is ditching a big WeWork office in NYC, revealing the risks of the popular flex-space model as the pandemic prompts Blue Chip companies to rethink real estate

WeWork had heralded IBM's lease at 88 University Place as an important shift in its business from startups to Fortune 500 firms. Now IBM is exiting.
Markets 2020-05-28T16:51:00Z

Wall Street firm that nailed the market bottom now expects the S&P 500 to jump 8% by the end of August

Stifel previously called for a 15% relief rally on March 19, two trading sessions prior to the March 23 bottom.
Markets 2020-05-28T16:28:00Z

These are the 8 mega-billionaires who have gotten the biggest boost to their net worth this year as the world has grappled with coronavirus

Markets have been on a rebound rally since bottoming in March. While the S&P 500 and Dow are down this year, the Nasdaq erased 2020 losses in May.
Markets 2020-05-28T16:26:00Z

Total US unemployment shrinks for the first time since coronavirus layoffs began in March

It is "a positive for the economy as more people are going back to work as states begin the re-opening process," said Chris Zaccarelli of the IAA.
BI Prime Tech 2020-05-28T16:04:58Z

How 23 rising star enterprise VCs got their start in venture — and what other rookie professionals can do to break into the notoriously exclusive industry

Outside of building a robust professional network, several VCs advised building out technical expertise in a specific industry within enterprise tech.
Transportation 2020-05-28T16:03:00Z

I drove a $29,000 Toyota Corolla to see if the legendary sedan rose above basic transportation — here's the verdict

The Corolla has long been thought of as great, affordable, entry-level transportation, but this four-door has actually become more than that.
Strategy 2020-05-28T15:53:00Z

Disney World is reopening — here's how much workers are paid at America's amusement parks

Disney World plans to reopen its parks in July after closing due to the coronavirus. The overall median wage for amusement park workers is low.
BI Prime Markets 2020-05-28T15:41:37Z

MORGAN STANLEY: Buy these 23 high-growth stocks that look poised to deliver market-beating returns over the long term

A team of Morgan Stanley equity analysts make a case for 23 stocks they "expect to grow strongly well into the future."
Markets 2020-05-28T15:27:27Z

JPMORGAN: Economic reopening isn't enough to drive a consumer spending rebound, credit-card data show

Trends across states with varied reopenings suggest "lifting formal restrictions has not been enough to restart consumers' engines," JPMorgan said.
Finance 2020-05-28T15:09:00Z

Samsung Pay unveiled the first details of its forthcoming debit card

Samsung rolled out the first set of offerings for Samsung Money, its debit card and cash management account launched in partnership with SoFi.
Markets 2020-05-28T14:59:00Z

An anonymous investor on Reddit claimed he turned $100,000 into $2.2 million, and says he's now betting big on a cruise line

Sharing his trading tale of profit on Reddit, the investor posted a screenshot showing sizeable gains made over the past four years.
Markets 2020-05-28T14:53:00Z

Goldman Sachs lists 5 reasons why bitcoin is 'not an asset class', nor 'a suitable investment'

Goldman said "a security whose appreciation is primarily dependent on whether someone else is willing to pay a higher price for it is not a suitable investment..."
Markets 2020-05-28T14:20:00Z

Credit-card fraud surges 35% as coronavirus freezes the economy and wipes out jobs

The surge in such charges arrives as consumer spending plummets, leaving card issuers and consumers at a rapidly growing risk of losses.
Finance 2020-05-28T14:05:00Z

LendingArch plans US expansion even as many alt lenders suffer from pandemic-related losses

LendingArch is expanding to the US and is well positioned to find uptake in the market since it already has a foothold through existing partnerships.
Markets 2020-05-28T13:50:15Z

Billionaire investor Bill Ackman took a 'pretty large stake' in a mystery company during the market meltdown, then sold it weeks later

Ackman's Pershing Square fund dumped the shares and reinvested the proceeds in its existing holdings.
Finance 2020-05-28T13:34:00Z

Starling's plan to reach profitability in early 2021 and launch an IPO have been delayed by the coronavirus

Starling's plans for reaching a break-even point and launching an IPO in the longer term have been delayed by the effects of the pandemic.
Markets 2020-05-28T13:01:00Z

Billionaire Ray Dalio is one of the world's richest hedge fund managers. Here are his best quotes on everything from the markets to meditation.

Ray Dalio who founded Bridgewater Associates, made a whopping $2 billion last year according to the Institutional Investor's Annual Rich list.
Markets 2020-05-28T12:48:00Z

US weekly jobless claims hit 2.1 million, bringing the 10-week total to more than 40 million

"At this pace, claims won't be back below 1 million until September," said Ian Shepherdson, chief economist at Pantheon Macroeconomics.
Markets 2020-05-28T12:42:12Z

Bankruptcies have hit the fastest pace since the Great Recession — and more companies are expected to file

This year alone, 98 companies have filed for bankruptcy, the most since 2009, according to Bloomberg data. It's likely even more will file.
BI Prime Markets 2020-05-28T12:16:00Z

David Herro was the world's best international stock picker for a decade straight. He breaks down 8 stocks he bet on after the coronavirus decimated markets — and 3 he sold.

David Herro's unexpected stock picks won him acclaim in the past. After the market crash, the hunt for new opportunities had him busier than ever.
BI Prime Markets 2020-05-28T12:11:00Z

A part-time real-estate investor quit his traditional job 5 years after snagging his first deal. He shares his no-hassle strategy that's allowed him to travel the world with his 6 kids.

"At the time, I was a real-estate newbie — I didn't really know anything," said Erik Schauman in an exclusive interview with Business Insider.
Finance 2020-05-28T11:48:00Z

From warehouses to office space, real-estate markets are being turned upside down — and these are the winners and losers

Flex-office firms are struggling, and companies are rethinking leases for offices. Meanwhile, demand for warehouse space is emerging as a bright spot.
Finance 2020-05-28T11:28:00Z

WeWork is grappling with a fresh setback after the pandemic emptied offices. Here's the latest on job cuts, financials, and legal battles.

After a failed IPO, coworking giant WeWork has been struggling to turn itself around. Here's the latest on job cuts, legal battles, and more.
Markets 2020-05-28T10:21:27Z

Mohamed El-Erian compared coronavirus stimulus packages to a poker game, and warned policymakers going 'all in' could backfire

El-Erian suggested clearly outlining metrics of success and course-correct if needed since policymakers are prone to "acting in the fog of war."
Markets 2020-05-28T08:49:33Z

Billionaire investor Carl Icahn dumped all of his Hertz shares at an almost $2 billion loss after the car-rental giant's bankruptcy

Icahn sold his 39% stake in the car-rental giant for less than $40 million after it filed for bankruptcy last week.
BI Prime Finance 2020-05-28T01:10:53Z

WeWork is set to vote on adding 2 new independent board members after big investors suing SoftBank unsuccessfully tried to stop it

Two of WeWork's board members are fighting moves to install a pair of directors who they say could decide the fate of a lawsuit against SoftBank.
Finance 2020-05-27T22:20:00Z

Warren Buffett's Berkshire Hathaway loses billionaire Bill Ackman as an investor

Ackman's Pershing Square fund sold its $1 billion stake in Berkshire to free up cash in case prices fall again.
Transportation 2020-05-27T20:36:26Z

A car-rental company previously owned by Hertz just filed for bankruptcy for the third time since 2008

The intertwined stories of Hertz and Advantage reveal how dozens of financial and strategic blunders sank both firms into massive debt.
Politics 2020-05-27T20:36:00Z

Jeffrey Epstein is the subject of a major Netflix docuseries. Here are the key moments from the convicted sex offender's past, famous connections, and controversial death.

The multimillionaire faced charges in the sex trafficking of teenage girls. He died by apparent suicide in the Metropolitan Correctional Center.
Markets 2020-05-27T20:23:04Z

Economists expect another 2.1 million Americans filed for unemployment insurance last week

The falling rate of weekly claims suggest the US is "well beyond the peak of inflows into unemployment," said Deutsche Bank economist Justin Weidner.
Markets 2020-05-27T20:06:27Z

Dow soars 553 points on mounting optimism around a strong economic recovery

Stocks got a boost in midday trading when chipmaker Micron issued a quarterly sales forecast that beat estimates.
Markets 2020-05-27T20:00:34Z

Unemployment will be higher in the US than in other advanced economies through 2021, Goldman says

A lack of stricter job-preservation policies and expanded unemployment benefits will prolong the US's labor-market recovery, Goldman economists said.
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