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Wall Street was abuzz this week with Goldman Sachs bankers and rival financiers questioning what was behind the firm’s Monday announcement that securities division coheads Pablo Salame and Isabelle Ealet would be leaving the bank in June.
We spoke with more than half a dozen Goldman Sachs partners past and present, as well as close confidants to current partners, to understand what happened and what it means for the firm going forward.
In deal news, PayPal is buying the Swedish card-reading startup iZettle for $US2.2 billion, and Square should be worried. Ad industry execs are buzzing about a potential sale of LiveRamp, one of the most trusted marketing-data platforms.
And in activist news, hedge fund manager David Tepper now has the go-ahead to go full activist on Allergan if he wants to.
In crypto news, forget bitcoin and ethereum, there’s a new cryptocurrency in town: zcash. We break it down for you.
In markets news:
- A former trader accused of rigging the market says being a vice president at Barclays is like working at McDonald’s
- US companies are returning cash to shareholders at a record pace – and that’s fuelling everyone’s biggest fear about tax reform
- Tim Cook’s “not even a quarter baked” justification for Apple’s $US100 billion stock buybacks has baffled some economists
- Facebook’s IPO was 6 years ago today – here’s how much you’d have made if you invested $US1,000 back in the day
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