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Premium Finance 2020-08-06T19:56:00Z
Brian Moynihan

Bank of America has made at least 45 hires this year for an aggressive push into the red hot — and super competitive — business courting corporate HR execs. Here's why it's betting on the space.

For firms with major wealth management businesses like Bank of America and Morgan Stanley, providing corporate clients' employees with benefit management tools can create a way to lock in customers who could become lucrative wealth clients down the line.
Premium Finance 2020-08-06T20:47:53Z
facial recognition

Facial recognition could be coming to your office. Here's why companies pitching the tech say the pandemic is a huge tipping point for adoption.

The technology has been seen by some as a potential threat to privacy, but facial-recognition experts say it can be deployed responsibly in offices.
Premium Finance 2020-08-06T21:34:34Z
paypal_ipo

PayPal's CFO outlines ambitious plans to become your virtual wallet — including a potential partnership with the likes of Amazon or Alibaba

From building the next digital wallet to looking for partnerships with marketplaces like Alibaba and Shopify, here's how PayPal is planning to grow.
Finance 2020-08-06T22:03:00Z

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.
Premium Healthcare 2020-08-06T21:50:00Z
Premium Finance 2020-08-06T20:48:00Z

Exxon just warned there could be more job cuts ahead. Here are the positions most at risk.

Exxon is shrinking its workforce through performance-based cuts, and just warned that other positions might be at risk.
Premium Finance 2020-08-06T20:12:23Z

Big investors have been slashing valuations on stakes in private companies like Palantir and Sweetgreen. But bankers say there could be a quick fix.

Even before the pandemic hit, a survey of venture capitalists found that a majority believed unicorns were "significantly" overvalued.
Personal Finance 2020-08-06T19:59:00Z

Amex and Chase points are the two most valuable types of credit card rewards — we break down their biggest differences

If you want to earn the most valuable credit card points, you'll want to take a close look at Amex Membership Rewards and Chase Ultimate Rewards.
Premium Finance 2020-08-06T18:15:00Z

'I'd rather turn them into robo cops': Execs from Man Group, Bridgewater, and Schonfeld explain how they're trying to blend humans and machines

Executives at some of the world's biggest hedge funds explain their quantamental strategies and how to find the sweet spot between human and machine.
Finance 2020-08-06T17:35:00Z

POWER PLAYERS: These 8 executives are leading some of the most innovative tech projects on Wall Street

From big banks to top-tier hedge funds, these projects are on the cutting edge at leading financial institutions.
Premium Finance 2020-08-06T15:45:00Z

POWER PLAYERS: Meet the 11 American Express execs leading the card giant's adoption of digital payments

Take a look at the execs driving Amex's growth and positioning the credit card giant to take off in the increasingly digital world of payments.
Markets 2020-08-06T15:44:45Z

The US needs to stop acting as though it has 'infinite fiscal space,' and provide more targeted coronavirus stimulus, a top economist warned

"Just because one can spend at this point, doesn't mean one has a blank cheque," Raghuram Rajan said on Thursday.
Finance 2020-08-06T15:28:00Z

THE TRUE TIGER KING: Inside the sprawling web of billionaire Julian Robertson, whose legendary Tiger Management has helped spawn hundreds of new hedge funds

Funds related to Julian Robertson currently manage, conservatively, more than $230 billion in assets.
Finance 2020-08-06T14:52:54Z

What's fractional share trading? Here's how it works, and who's offering tiny slices of pricey stocks like Amazon and Shopify.

A wave of brokerage firms and fintechs have started allowing customers to trade small slices of individual stocks.
Premium Careers 2020-08-06T13:37:00Z

Top oil salaries revealed: How much giants like BP, Exxon, Chevron and Shell pay employees, from business analysts to petroleum engineers

Most roles analyzed by Business Insider earn six figures including petroleum engineering, where you can take home more than $200,000 a year.
Premium Finance 2020-08-06T13:22:00Z

Leaked documents reveal Exxon suspended retirement, education, and expat benefits to cut costs as oil prices tumbled

Challenged by cheap oil, Exxon is taking a number of steps to cut costs, including suspending key benefits for US workers.
Markets 2020-08-06T11:43:16Z

Warren Buffett's Berkshire Hathaway rallies to 5-month high as investors cheer its flurry of recent purchases

Shares in the famed investor's company have rebounded on signs that he's putting Berkshire's $137 billion of cash to work.
Premium Finance 2020-08-06T11:38:00Z

Boutique banks like Evercore and Moelis are saving tens of millions in travel and entertainment costs while dealmakers are grounded. Here's what that newfound efficiency could mean for the future of business travel.

Bankers can now expense food and drinks for virtual client events, but they'll still likely save millions on travel costs for the coming months.
Finance 2020-08-06T11:28:08Z

A JPMorgan-backed fintech is looking to help kids play the market

Here are the top finance stories of the day for August 6, including the latest news on virtual internships and trading for kids.
Markets 2020-08-06T10:33:35Z

Warren Buffett plowed $2.1 billion into Bank of America in 12 days. Experts warn it could be years before he sees a return.

"He could buy it for another 12 days, he can't really fix the headwinds that are challenging the banks."
Markets 2020-08-06T10:05:20Z

The Bank of England avoids 'last resort' negative rates and warns the UK economy will not recover to pre-pandemic levels until late 2021

Britain's central bank sees longer recovery, but ups its full-year 2020 GDP forecast to -9.5% from a prior prediction of -14%.
Premium Enterprise 2020-08-05T22:04:21Z

Shares of Rackspace fell nearly 22% on IPO day, but its CEO explains why he's optimistic about the cloud services company's second shot as a public company

Last time Rackspace was a public company, it competed directly against Amazon Web Services, Microsoft, and Google Cloud. Now, it works with them.
Premium Premium 2020-08-05T20:42:45Z

Inside Jefferies' all-virtual summer internship: 5 weeks of charity work, and guest appearances from the CEOs of Blackstone and Zoom

Business Insider got a look inside Jefferies Financial Group's virtual summer internships, from special classes to working with charities.
Premium Healthcare 2020-08-05T19:37:00Z

This pitch deck helped telehealth startup Heal raise $100 million and win a major partnership with healthcare giant Humana. Here's how the deal came to be.

Heal cofounder and CEO Nick Desai said he didn't realize he was part of a larger pitch competition when he originally met with Humana.
Premium Finance 2020-08-05T18:33:00Z

Hedge funds are using these 10 alt-data sources to gain an investing edge and keep track of the coronavirus' impact

Investors are looking to get up-to-date reads on the continued impact the coronavirus has had on the markets through use of non-traditional data sets.
Premium Finance 2020-08-05T18:25:46Z

A JPMorgan-backed personal finance app catering to children has doubled users this year. Now it's eyeing ways to let kids play the stock market.

The Atlanta-based fintech has raised $81.5 million to date from investors including JPMorgan Chase, Relay Ventures, and Wells Fargo.
Finance 2020-08-05T17:18:00Z

Insiders explain how $3 billion fintech unicorn Brex went from a $150 million raise to laying off 17% of its staff in a matter of days

Business Insider spoke to current and former Brex employees to understand what led the fintech to cut staff shortly following a $150 million raise.
Premium Finance 2020-08-05T16:52:00Z

Wall Street internships went virtual this year. From what to wear to how to stay organized, here's how to impress remotely.

For Wall Street, keeping interns engaged is key to filling their full-time pipeline. And for summer interns, it's a critical opportunity to impress.
Finance 2020-08-05T16:37:00Z

60 fintechs that are set to take off in 2020, according to top VCs and investors

Business Insider polled 27 investors to find out which startups seem ready to break out this year. Here are their picks.
Premium Finance 2020-08-05T16:17:00Z

Top law firms are delaying their first-year associate classes. Here's everything we know about new start dates, pay, and benefits so far.

Many major law firms like Kirkland & Ellis, Jones Day, and Paul Weiss have pushed back start dates for incoming first-year associates.
Markets 2020-08-05T16:17:00Z

Young investors have flooded into bitcoin during the pandemic, while the older generation can't get enough of gold, a team of JPMorgan analysts said

The generational split in markets has become apparent as the younger cohort lean more towards technology stocks and the older investors sell equities.
Premium Finance 2020-08-05T15:52:00Z

Top fintech investors see a big opportunity in disrupting how people and companies pay their bills. Here are 8 startups on the verge of breaking out.

Over 13% of the 60 fintechs highlighted by investors to Business Insider focused on helping businesses and consumers manage their bills.
Premium Finance 2020-08-05T15:40:43Z

Law firms cut pay by as much as 50% at the height of the pandemic. Now at least 6 are bumping comp back up.

Many law firms' bottom lines weren't as hard-hit by the pandemic as they had feared. Some are returning pay to normal levels.
Markets 2020-08-05T15:10:00Z

Disney's market value soars by $21 billion after Disney Plus hits 60 million subscribers

Disney shares jumped as much as 10% as investors cheered its early streaming success during the pandemic.
Finance 2020-08-05T14:20:00Z

Consumer spending could regress in the coming months as monthly personal income growth falls

Consumer spending could regress in the coming months because of falling monthly personal income growth and the end of key government initiatives.
Finance 2020-08-05T14:09:00Z

Highflying investment bankers are grounded as boutiques save tens of millions

Here are the top finance stories of the day for August 5, including the latest news on banker travel and Facebook's new NYC office.
Premium Finance 2020-08-05T14:06:00Z

One-click checkout startup Fast used this pitch deck to bag $20 million from investors like fintech giant Stripe. Here's its plan to take on Apple Pay.

Fast's one-click password product is already live, but with this latest fundraise, it will now roll out one-click payments and checkout features.
Premium Finance 2020-08-05T13:02:00Z

Meet 9 top recruiters financial advisers should know right now

Recruiters for financial advisers have been busy. Very busy. Business Insider has identified some prolific recruiters in the wealth management arena.
Premium Tech 2020-08-05T13:00:00Z

See the pitch deck that helped WorkPatterns raise $2.8 million in seed funding before the pandemic began, and predicted many challenges remote managers are now facing

WorkPatterns spent the last two years building a startup that was tailor-made for the new normal of remote work.
Markets 2020-08-05T12:42:56Z

A Singaporean tech stock has skyrocketed a world-beating 1,100% since the start of 2019

Sea's market capitalization has mushroomed from about $5 billion to more than $64 billion over the period.
Premium Tech 2020-08-05T12:14:00Z

Meet the VC making massive bets on the future of health and wellness startups as the ongoing pandemic enhances opportunities for home-based technologies

General Catalyst managing director Holly Maloney predicts consumer health and wellness habits built during the pandemic will stick around.
Markets 2020-08-05T11:56:27Z

The catastrophic explosion that ripped through Beirut may have pushed gold to a fresh record-high, analysts say

A massive explosion in Beirut, that killed around 100 and wounded thousands, "probably added to the shine of gold above $2020," Mizuho said.
Markets 2020-08-05T09:18:42Z

Warren Buffett plows another $337 million into Bank of America, boosting his stake to nearly 12%

The famed investor and Berkshire Hathaway CEO has splurged more than $2 billion on the bank's shares over the past 12 trading days.
Transportation 2020-08-04T21:39:00Z

Richard Branson's Virgin Atlantic is seeking Chapter 15 bankruptcy protection in the US while it scrambles to finalize a rescue plan

Virgin Atlantic filed for Chapter 15 bankruptcy. International travel demand has been sharply cut by the coronavirus pandemic and travel bans.
Premium Finance 2020-08-04T20:21:00Z

Vanguard is emerging as a key force in a $3.8 trillion battle against PIMCO and BlackRock for bond investors' cash. Meet 4 power players it brought on to help drive its push.

The firm's fixed-income team has made at least four external hires in recent years to ramp up its actively managed bond funds.
Premium Enterprise 2020-08-04T19:39:13Z
Premium Finance 2020-08-04T18:07:00Z

POWER PLAYERS: Meet 13 Apollo execs, rising stars, and new hires propelling the firm's massive push into credit investments

Apollo Global Management is stacking its bench with credit pros to help scout out debt deals as the pandemic continues to drag on businesses.
Premium Finance 2020-08-04T17:55:00Z

BP just shared a huge strategy update after posting a $17 billion loss. See the 6 key slides that map out the oil giant's future.

BP's spending on low-carbon energy is set to surge as the firm pulls back from oil and gas production.
Premium Finance 2020-08-04T17:46:24Z

Big Law may have dodged a catastrophe in 2020, but the next 6 months are critical. Law firm leaders predict how the rest of the year will play out.

The projections law-firm leaders made of double-digit revenue drops mostly haven't materialized, and some have seen gains. But the crisis isn't over.
Premium Finance 2020-08-04T16:25:00Z

POWER PLAYERS OF DISTRESSED CREDIT: The 11 Wall Street stars trading busted bonds, bankruptcy claims, and other fire-sale securities

Wall Street distressed desks have unique styles and strategies. They're all poised to surge thanks to a wave of corporate defaults and bankruptcies.
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