Welcome to Finance Insider, Business Insider’s summary of the top stories of the past 24 hours.
Thousands of people are about to be treated to the show of the century — all they have to do is look up.
On Monday, people in several parts of the US will have the chance to view the total solar eclipse, where the moon crosses between the Earth and the sun, temporarily blocking the sun.
In Wall Street news, here’s the memo that just went out to JPMorgan staff, citing “deep divisions across our country.” Goldman Sachs is reportedly on the hunt for star traders to revive its struggling commodities unit.
A hedge fund has raised $US100 million to make bets based on other hedge funds. And Jeff Gundlach fired back at a report saying investors are fleeing his biggest fund.
Ray Dalio, the founder of the world’s largest hedge fund, is worried that democracy is being threatened. Steve Mnuchin’s Yale classmates urged him to resign from the Trump administration in protest. Mnuchin responded, saying Trump does not equate neo-Nazis with peaceful protesters.
Hours after billionaire investor Carl Icahn said he would no longer be advising President Trump on Friday night, The New Yorker dropped a lengthy story on his efforts to change a policy that hurt a company he is invested in. The key takeaway: Icahn could be in “legal jeopardy.”
And here’s why Wall Street is so fixated on Gary Cohn’s position in the White House.
In markets news, this may not be the big correction that markets have been waiting for, according to Goldman Sachs. And Alibaba is the explosive stock that’s dividing Wall Street.
In deal news:
- Warren Buffett’s Berkshire Hathaway has been outbid for Oncor
- Total is buying Maersk Oil in a $US7.5 billion deal
- Fiat Chrysler pops after a Chinese car company says its interested in the brand
- Herbalife held talks to go private, and its stock is jumping
- It’s a bad Monday for billionaire investor Bill Ackman
Lastly, over half a dozen residents of this San Francisco ‘castle’ have become bitcoin millionaires — take a look inside.
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