Welcome to Finance Insider, Business Insider’s summary of the top stories of the past 24 hours.
Kraft Heinz, the consumer giant backed by Brazilian billionaire Jorge Lehmann and Warren Buffett, has made an approach to combine forces with European peer Unilever.
Unilever has rejected the approach, but Kraft said in a statement that it is looking “forward to working to reach agreement on the terms of a transaction.” Unilever said in a statement it does not see the basis for any further discussions.
A deal between the two would put a huge chunk of the world’s best known brands in the hands of one company. Here are the bankers working on the proposed deal. Also, something funky happened in Unilever trading just before Kraft Heinz announced it attempted a takeover.
Snap Inc. has released its full IPO roadshow, with executives explaining why investors should buy into their $US22 billion IPO. Here’s what Snap is telling investors.
A small activist hedge fund founded by a Paul Singer
is encouraging Arconic, one of Singer’s targets, to listen to him. Samsung’s billionaire chief is now in a jail cell with a mattress on the floor and no shower. Mary Barra is about to become the most influential CEO in GM history.
And we talked to the CEO of consulting giant Accenture’s North American business about innovation, jobs and business under Trump.
We dug into the drug company Martin Shkreli sold out to the feds, and man is it ugly.
Lastly, a Wall Street psychologist who’s consulted on Showtime’s ‘Billions’ outlines five truths of human behaviour all her clients must face
Here are the top Wall Street headlines from the past 24 hour
The world’s biggest sovereign wealth fund is about to fundamentally change the way it does business – Norway’s Global Government Pension Fund, the biggest sovereign wealth fund in the world by assets under management, has formally started the process of shifting the way it goes about business.
Bank of America summed up the huge change taking places in markets in one simple graphic – For seven years after the financial crisis, it was all about Davos Man.
YANIS VAROUFAKIS: Trump is risking a US debt crisis with “skyrocketing deficits” – Yanis Varoufakis, the outspoken former Greek finance minister, thinks US President Donald Trump risks stoking a Europe-style debt crisis with his economic plan.
Marine Le Pen wants to leave the euro — here’s what that might mean for the “new French franc” – French presidential candidate Marine Le Pen is not the biggest fan of the euro.
CEO of $US60 billion French investment company: Paris won’t beat London post-Brexit because French “are less financially minded” – The founder and CEO of $US60 billion French private equity fund Ardian says London will not lose its financial crown to Paris after Brexit.
Deere says the global farming recession may be coming to an end – Deere and Company on Friday reported first-quarter earnings that were higher than expected, and the company offered hope for the future.
Americans have $US12.58 trillion of debt — here’s what it looks like – Americans’ debt balances rose “substantially” in the final quarter of 2016, according to the Federal Reserve Bank of New York.
There’s a simple reason the percentage of people owning a home is at a historic low – If it feels like your parents could afford to buy a house when they were your age, and you can’t, you’re not alone.
DEUTSCHE BANK: These 2 risks could derail the US economy – With the US economic recovery entering its eighth year, there continue to be questions about how much longer it can go on.