Welcome to Finance Insider, Business Insider’s summary of the top stories of the past 24 hours.
President Donald Trump acknowledged in an interview with The New York Times published Wednesday that there was a certain red line he thought special counsel Robert Mueller shouldn’t cross while carrying out the Russia investigation: digging into his finances.
On Thursday, it emerged that Mueller was expanding his investigation to do just that.
In related news, Trump once called the jobs report “one of the biggest hoaxes in modern politics” — now he accepts “those numbers very proudly.” And a Federal Reserve committee executed a brutal takedown of Trump’s budget.
In Wall Street news, Goldman Sachs wants to become the Google of Wall Street, and now it is staffing up the unit that could help it achieve that goal. The New York-based financial services giant is hiring for Marquee, a platform that provides clients access to the bank’s analytics, data, content and execution capabilities via a browser or an API.
And the CEO of Morgan Stanley took a shot at the startups shaking up investing.
A wave of staffers has left hedge fund Folger Hill as the firm searches for fresh money. A hedge fund set up by Steve Cohen’s former chief investment officer is crushing it. And the hedge fund that turned Whole Foods into a takeover target for Amazon walked away with $US300 million.
Billionaire hedge fund manager Bill Ackman’s first tweet was a photo of him at Chipotle. The company’s stock is falling on Thursday after it confirmed norovirus is behind the recent illness outbreak.
In deal news, Wall Street is making huge bets on healthcare companies you’ve never heard of. An unprofitable yoga chain is the latest failed IPO. And Blue Apron’s VC backers have made gobs of money — while regular investors have taken a bath.
Startups are enjoying a goldrush selling digital coins online — but can you tell the real one from the fakes?
Elon Musk says he just got ‘”verbal government approval” to build a Hyperloop between New York and DC.
Alibaba’s revenue is going to explode this year, according to Jack Ma.
Lastly, here’s what would happen if you broke your arm in 7 countries around the world.
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