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Premium Finance 2020-06-22T20:48:26Z
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Credit-card data is broken. Here's how hedge funds and banks are trying to retool one of the original alt-data trades.

Firms are using techniques like post-stratification weighting and "swarming" to help correct how the pandemic has skewed alternative data sets.
Premium Finance 2020-06-23T14:30:00Z
Yolande Piazza.PNG

Google Cloud just poached a long-time Citi exec. Here's why public-cloud giants keep adding Wall Street veterans to their ranks.

Yolande Piazza, who previously served as the CEO of Citi Fintech, will join Google Cloud as a vice president of financial services.
Premium Finance 2020-06-23T20:42:00Z
Amazon warehouse

Amazon just signed its largest-ever warehouse lease in NYC. Here's how it's been making deals left and right to grow its massive storage and distribution network.

Amazon is quickly expanding its network of storage and distributions spaces, and that's providing a big boost to the industrial real-estate market.
Premium Tech 2020-06-23T23:33:00Z

Renowned VC Marc Andreessen says he gets no emotional rush when he wins big on an investment, and that keeps him from making irrational bets. 'I actually don't have the gambling gene'

Although Marc Andreessen said he doesn't feel a dopamine rush when he gambles, he sometimes approaches VC like a professional poker player.
Finance 2020-06-23T23:01:00Z

THE MONETIZATION OF OPEN BANKING: How legacy institutions can use open banking to develop new revenue streams, reach more customers, and avoid losing out to neobanks and fintechs

Business Insider Intelligence identifies various open banking monetization strategies and outlines actionable steps to make them successful.
Finance 2020-06-23T22:00:00Z

THE PAYMENTS ECOSYSTEM: The biggest shifts and trends driving short- and long-term growth and shaping the future of the industry

In this report, Business Insider Intelligence examines the payments ecosystem today, its growth drivers, and where the industry is headed.
Premium Finance 2020-06-23T21:02:00Z

A top Mastercard exec lays out why the card giant is spending $825 million to buy financial-data startup Finicity

Finicity's data-sharing platform enables banks, fintechs, and lenders to access financial data from customers.
Markets 2020-06-23T20:11:41Z

US stocks climb, Nasdaq hits record as investors pile into tech giants

The tech-heavy Nasdaq hit a record during Tuesday trading after a handful of positive economic-data reports.
Premium Finance 2020-06-23T19:52:19Z

Wall Street said it isn't laying off workers, but that doesn't mean banking jobs are safe forever. Here's who's most at risk.

Some global banks have already resumed massive cuts they'd put on pause amid the pandemic soon after Wall Street pledged not to lay off workers.
Markets 2020-06-23T19:47:16Z

Treasury Secretary Mnuchin says the US economy may be out of a recession by the end of the year

Mnuchin also said that it's highly unlikely that the US will shut down the economy again, even as fears of a second wave of coronavirus cases mount.
Premium Markets 2020-06-23T19:44:00Z

Morgan Stanley handpicks 10 stocks to buy now for the richest profits as travel and outdoor activities transform in the post-pandemic world

A large team of analysts concluded that these companies will benefit the most from the big changes to how travel and tourism are conducted.
Markets 2020-06-23T19:07:47Z

‘Elizabeth Warren is right’: Activist investor Jeff Ubben quits his $16 billion hedge fund to launch an ESG firm, citing companies that ‘aren’t working for society or nature’

The activist investor hopes to use his new fund to "prove that there's a return" in impact investing, The Financial Times reported.
Markets 2020-06-23T17:42:55Z

US new-真人百家家乐网站home sales jumped nearly 17% in May, more than economists expected, as buyers rushed back to the market

Record-low mortgage rates and pent-up demand from months-long coronavirus lockdowns have fueled the housing market rebound.
Tech 2020-06-23T17:13:48Z

Square has started withholding some customer payments, angering business owners who say they need the money amid the coronavirus crisis

Business owners told The New York Times that Square has been withholding up to 30% of customer payments.
Premium Finance 2020-06-23T17:08:00Z
Premium Markets 2020-06-23T17:06:01Z

Dennis Lynch and Kristian Heugh run the best large-company stock funds of the last 10 years. The legendary investors break down the 5 principles that guide their quest for long-term growth.

World-class stock pickers Dennis Lynch and Kristian Heugh lay out 5 principles that help them find companies to invest in and run their business.
Markets 2020-06-23T16:57:19Z

Global economy to shrink 'disastrous' 4.7% in 2020 amid post-pandemic scarring, Bloomberg economists forecast

Output won't fully rebound until the second quarter of 2021 as unemployment lingers and consumer confidence remains suppressed, the economists said.
Transportation 2020-06-23T16:55:42Z

'At some point, owners of a business deserve a return, too': Delta CEO defends stock buybacks despite $5 billion bailout

Delta Air Lines CEO Ed Bastian defended the airline's $11.5 billion in stock buybacks during the 2010s, and the coronavirus bailout it received.
Markets 2020-06-23T16:18:53Z

US business activity jumps to a 4-month high in June, showing that the shock of the coronavirus pandemic is easing

"The improvement will fuel hopes that the economy can return to growth in the third quarter," said Chris Williamson of IHS Markit.
Transportation 2020-06-23T16:17:04Z

DESTINATION REROUTED: How the business of transportation is evolving amid a devastating pandemic

The pandemic has revealed clear blindspots in a transportation business that had been booming on several fronts before worldwide shutdowns began.
Finance 2020-06-23T16:00:00Z

This is the 19-slide pitch deck two 22-year-olds used to nab $57 million in funding from Silicon Valley

BI Prime received Brex's permission to offer a look into the startup's full 19-slide pitch deck from its Series B funding round.
Markets 2020-06-23T15:54:00Z

The Fed's unprecedented relief measures could form the greatest financial bubble in history, Ed Yardeni says

The Fed's March 23 policy announcement prompted a "Mother of All Meltups" in the stock market that could just as quickly collapse, Yardeni said.
Markets 2020-06-23T15:24:00Z

Top strategists from Morgan Stanley and Schwab lay out how to trade an upside-down market

The definitive collection of the best investing stories Business Insider published during the week ended June 23.
Markets 2020-06-23T15:02:57Z

SoftBank executives set to lose hundreds of millions on complex Wirecard trade inspired by Warren Buffett

Wirecard's share price has tanked 80% in the last few days, likely erasing gains that a small group were set to make on a complicated trade.
Premium Finance 2020-06-23T14:49:00Z

We talked to billionaires, business titans and an NBA star about the Apollo cofounder who wants to buy the New York Mets. Here's how he can apply his private equity turnaround playbook to a team that haven't won a World Series since 1986.

Under Josh Harris' leadership, his teams have undergone managerial and operational changes, with upgraded facilities and Ph.D. holders running data analysis.
Markets 2020-06-23T14:47:00Z

A forensic financial expert broke down how $2 billion vanished from the balance sheet of Wirecard, whose ex-CEO was just arrested

The German payments group Wirecard has come under intense scrutiny since it said $2 billion from its balance sheet likely never existed.
Premium Finance 2020-06-23T14:15:00Z

Here's why small businesses are ditching their banks and turning to fintechs like Plaid and PayPal to navigate the complicated process of PPP loan forgiveness

Executives at EY, Plaid, PayPal, and BlueVine explain why forgiveness of PPP loans is so tricky and how they're looking to help.
Markets 2020-06-23T14:13:11Z

Buy these 3 stocks as they move above key resistance levels, Bank of America says

The three stocks follow an ascending triangle breakout pattern, which is just one technical chart pattern that technical analysts use to to buy a stock.
Markets 2020-06-23T13:36:42Z

Dow climbs 220 points after Trump walks back adviser's negative comments on China trade deal

The White House adviser Peter Navarro roiled markets overnight with negative trade comments that he and Trump rushed to walk back on Tuesday.
Markets 2020-06-23T13:21:45Z

Goldman says investors may limit stock purchases due to risk of a 2nd wave of coronavirus cases and the 2020 presidential election

"Periods of elevated policy uncertainty have generally coincided with lower-than-average equity allocations during the past 30 years," said Goldman.
Markets 2020-06-23T12:44:19Z

Chewy's billionaire cofounder owns $550 million in Apple stock but wants the share price to tumble

Ryan Cohen, a big fan of Warren Buffett, echoed his view that long-term investors should want the stock market to go down.
Markets 2020-06-23T12:24:00Z

American Airlines is raising another $3.5 billion, validating Warren Buffett's decision to dump the 'big four' carriers

"They are saying to the debt holders and investors, 'You've got to put more money into this business if we're going to be able to continue.'"
Premium Finance 2020-06-23T12:20:00Z

'Value is not working': Inside a 2-day virtual gathering of bargain-seeking investors struggling with a market that's been stacked against them for a decade

"If you want to find value hidden beneath a rock, be prepared to do some heavy lifting," one speaker's final slide read.
Markets 2020-06-23T12:20:00Z

Former Wirecard CEO Markus Braun has been arrested in Germany, days after the company reported that $2.2 billion was missing

An arrest warrant was issued by Munich police in name of the former paper billionaire for market manipulation and over false statements of data.
Markets 2020-06-23T12:18:14Z

Europe's economy bounced back sharply in June, but is not quite on track for a 'v-shaped' recovery yet, according to a widely-watched business survey

Markets will take only modest comfort from the business surveys as there isn't firm evidence of a strong 'V' shaped recovery for any economy.
Premium Finance 2020-06-23T12:18:00Z
Premium Strategy 2020-06-23T11:00:00Z

The head of Edward Jones shares the company's plan for reopening offices during the pandemic and what it takes to land a job at the financial-services firm managing $1.3 trillion in assets

Penny Pennington was recently impressed by an employee who equipped every single associate at the financial-services firm to work remotely.
Markets 2020-06-23T10:23:10Z

Day trading for fun is a 'losing proposition,' Wealthfront's investment chief Burton Malkiel warns

"To go and day trade and think that you are investing, that's what I think is absolutely wrong and is likely to be simply disastrous for people."
Politics 2020-06-23T09:37:31Z

Trump's trade adviser embarrassingly retracted a claim that a US deal with China was 'over'

Trade adviser Peter Navarro walked back a statement made in a Fox interview that a deal was "over" while Trump took to Twitter to say it's still on.
Finance 2020-06-23T01:00:00Z

BANKING AND PAYMENTS FOR GEN Z: These digital natives are the next big opportunity — here are the winning strategies

Business Insider Intelligence uses a six-point framework to explain the core attributes that Gen Z values in a banking and payments product.
Finance 2020-06-23T00:01:00Z

FINTECH AND FINANCIAL INCLUSION: How low-overhead direct banking models enable banks to profitably serve the US' 33 million underbanked households

Business Insider Intelligence explores the growing opportunity for incumbent banks to tap into the financially underserved.
Finance 2020-06-22T21:03:00Z

Meet 2019's Rising Stars of Wall Street from firms like Goldman Sachs, Blackstone, and Apollo shaking up investing, trading, and dealmaking

From starting a hedge fund before 30 to running alternative-data shops and helping lead $27 billion investments, this group is in a league of its own.
Premium Markets 2020-06-22T20:35:00Z

MORGAN STANLEY: The best-performing stocks for the end of recessions are loaded for surprising gains in the second half of the year. Here's what to buy now so your portfolio is ready.

Morgan Stanley lays out two ways to profit from more plot twists in the stock market — including a faster recovery than many expect.
Markets 2020-06-22T20:34:31Z

Billionaire investor Bill Ackman's 'blank check' company is seeking to raise as much as $6.45 billion

"We will have the largest amount of committed capital of any blank check company upon the completion of this offering," the company said.
Premium Finance 2020-06-22T20:33:49Z

Billionaire Bill Ackman says he thinks of Pershing Square more like a private-equity shop than a hedge fund when it comes to hiring staff

Ackman, in an online conference hosted by Bloomberg, said he values private equity experience above all because "we're really a private equity firm."
Markets 2020-06-22T20:13:35Z

Dow rises 154 points as economic recovery outweighs growing coronavirus cases

New coronavirus cases continue to climb across the US as states reopen their economies from sweeping lockdowns that began in mid-March.
Markets 2020-06-22T19:29:28Z

Hertz shares are likely going to $0, Morgan Stanley says

The updated price target reflects the bank's view "that our Bear case has a higher probability of occurring than our Bull case," wrote Adam Jonas.
Premium Finance 2020-06-22T19:13:11Z

SoftBank's Vision Fund is scrapping an 'IPO readiness group' and telling its portfolio companies to handle the process themselves

The tech-investing giant has its eye on at least one IPO this year, as insurance-tech company Lemonade readies its offering.
Markets 2020-06-22T18:54:19Z

Blackstone CEO Stephen Schwarzman forecasts 'big V' economic recovery this summer

Economic reopenings will drive the first bounce-back but fail to revive 2019 highs, Schwarzman said during the Bloomberg Invest Global conference.
Markets 2020-06-22T18:50:14Z

Sonos soars after short-seller Andrew Left predicts Apple acquisition, says he sees 130% upside

Left pinned a $30 price target on Sonos for 2020, implying 130% upside, and said the stock could surge even more.
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