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BI Prime Finance 2020-05-27T20:37:00Z
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 2020-05-28T14:18:38Z

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..."
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.
Markets 2020-05-28T13:45:22Z

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 2020-05-28T13:39:16Z

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 2020-05-28T13:36:32Z

US stocks trade mixed as investors assess jobless-claims data, US-China tensions

An additional 2.1 million Americans filed for unemployment last week, bringing the 10-week total to nearly 41 million.
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 2020-05-28T12:57:02Z

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.
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.
BI Prime Finance 2020-05-28T11:29:00Z

IBM is ditching a big WeWork office it has been renting in NYC — showing risks for the flex-space model as the pandemic prompts big companies to rethink real-estate needs

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.
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.
Markets 2020-05-27T19:52:00Z

Here's why 3 Wall Street analysts just boosted their Apple price targets

All three analysts see Apple stock gaining further this year, moving past the impact of the coronavirus pandemic on the tech giant.
Markets 2020-05-27T19:49:00Z

These 5 'stay at home' stocks are getting pounded as the US economy reopens

All 50 US states as of Memorial Day weekend have relaxed at least some of the restrictions put in place mid-March to contain the spread of COVID-19.
Markets 2020-05-27T19:16:03Z

Micron climbs 6% after boosting sales guidance by more than expected

The announcement from Micron helped boost other chipmakers' shares on Wednesday, with the PHLX Semiconductor Index turning positive for the day.
Markets 2020-05-27T17:55:41Z

Robinhood says it's fixed an issue that showed incorrect portfolio values for users

Several users took to Twitter with complaints that their account values moved out-of-step with underlying investments.
Markets 2020-05-27T17:30:35Z

One of the most profitable trades since 1993 is broken amid the coronavirus pandemic

Over the first 100 trading days of 2020, a trader that bought the close and sold the open would be down 19.7%.
BI Prime Markets 2020-05-27T17:17:59Z
BI Prime Finance 2020-05-27T16:20:58Z

Peloton rides, beer by mail, and bouncy castles: Lawyers share their secrets to getting and keeping clients during a pandemic

A lawyer's network is a key source of business opportunities, but the traditional ways of bonding outside the office have vanished.
Markets 2020-05-27T16:18:00Z

Wharton professor Jeremy Siegel lays out why a record-high stock market in 2020 remains 'a real possibility'

Fresh risk-on attitude and the Fed's lending efforts can drive a strong rally as long as a second wave of COVID-19 cases is avoided, Siegel said.
Markets 2020-05-27T16:11:20Z

The Fed is considering a policy tool not used since World War II to keep borrowing costs at historic lows

Yield-curve control allows central banks to target certain long-term interest rates through the limitless buying and selling of bonds.
Finance 2020-05-27T16:04:00Z

THE MILLENNIAL FINANCIAL HEALTH REPORT: How the largest generation is saving and managing their money, and how banks can target products and messaging to reach them

This report identify three millennial sub-generations, the unique financial needs and challenges of each, and the ways providers can tap into them.
Markets 2020-05-27T15:54:11Z

A 'capital war' is accelerating between the US and China, and the coronavirus pandemic is only making it worse, according to one investor

"We're in a world where capital wars matter," Michael Howell, CEO of Crossborder Capital, said in a Tuesday interview with CNBC.
BI Prime Tech 2020-05-27T15:52:00Z

Pay for top engineers is immune from cuts at startups that fear losing them and would rather slash executive salaries to reduce costs

An analysis of late-stage tech companies from Thomvest Ventures found that many were in favor of slashing executives' salaries to avoid layoffs.
Markets 2020-05-27T15:38:00Z

Moderna falls 20% amid report that insiders have sold $89 million in shares this year as the stock has spiked

According to STAT News, the Moderna executives' sales have led to combined profits of more than $80 million.
Markets 2020-05-27T15:33:42Z

The coronavirus crisis will be 'hugely beneficial' to Amazon and other tech giants, billionaire investor Bill Ackman said

To the extent that investors are driving up stocks to reflect tech's bright prospects, the market "doesn't seem wrong to me," Ackman said.
Transportation 2020-05-27T15:32:28Z

Boeing will lay off nearly 7,000 workers as the industry is decimated by the COVID-19 pandemic

The company described the layoffs as "the first," with more expected later in the year.
Markets 2020-05-27T15:16:00Z

EU plans a record-breaking $826 billion stimulus package to soothe Europe's economic pain from the coronavirus

The European Commission aims to fund its recovery plan by raising unprecedented sums on the financial markets.
BI Prime Markets 2020-05-27T15:15:07Z

GOLDMAN SACHS: Buy these 25 stocks that are wildly popular with hedge funds — and have crushed the market this year

Ben Snider, a strategist at Goldman Sachs, makes a compelling case for owning the stocks that hedge-fund managers love most.
BI Prime Transportation 2020-05-27T15:09:02Z

Bankrupt Hertz just told all its landlords it won't pay rent for 6 months in the latest slam to commercial real estate

The notice came several days before Hertz, saddled with a debt of $19 billion, declared bankruptcy on May 22.
Markets 2020-05-27T14:39:00Z

Jamie Dimon says the US economy looks headed for a 'fairly rapid recovery' from the coronavirus pandemic

"The government has been pretty responsive, large companies have the wherewithal, hopefully we're keeping the small ones alive," Dimon said.
Markets 2020-05-27T14:32:44Z

Cruise stocks soar 10% as reopening optimism lifts virus-slammed industries

Cruise companies were among the hardest hit by the pandemic, as infamous vessel outbreaks led analysts to fear a prolonged downturn for the sector.
Finance 2020-05-27T13:58:00Z

UK Parliament is concerned about potential effects of the pandemic on the UK's cash infrastructure

Members of Parliament in the UK are concerned that plummeting ATM usage due to the pandemic may put its cash infrastructure in danger of collapse.
BI Prime Markets 2020-05-27T12:05:00Z
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