Welcome to Finance Insider, Business Insider’s summary of the top stories of the past 24 hours.
Snap is in New York on Tuesday pitching its IPO to investors. Here’s what you need to know:
- Goldman Sachs is predicting Snap will deliver $US2 billion in revenue in 2018
- Here’s why Snap is playing it safe with investors
- “We do not see upside”: London-based analyst calls ‘neutral’ after Snap’s London IPO road show
- Some investors who attended Snap’s London roadshow voiced big concerns
- A key ad executive has left Snapchat weeks before its IPO
- Here’s who is going to get rich from the Snap IPO
- Keep up to date with the latest news on Snap here
The owner of Burger King is buying Popeyes for $US1.8 billion. Verizon has cut Yahoo’s price by $US350 million. Warren Buffett’s $US10 billion airline investment reveals everything you need to know about the industry.
A government-shutdown threat is looming in Trump’s future. Trump is in the wrong place at the wrong time when it comes to the stock market. Trump may make major changes to the way we measure the strength of the US economy.
And Trump could undermine “the political fabric” of America, according to Larry Hathaway, chief economist at GAM.
Jay Z is launching his own venture capital firm.
Lastly, we took a 1,000-horsepower electric luxury sedan for a spin on the streets of Silicon Valley.
Here are the top Wall Street headlines from the past 24 hour
The head of an investment bank explains how Trump, Brexit, and the rest have changed trading – We’ve moved from an era of globalization to one of nationalism and populism. There has been a shift from fears of stagflation to one where inflation is the buzzword. Davos Man has lost the ascendancy, and now Joe Six Pack is in charge.
Trump chaos is forcing Mexico’s crisis-fighting central banker to stay on longer – Mexico’s economic policy has long been hostage to outside factors, including every turn of the US presidential campaign, where the peso suffered every time Trump’s victory appeared more likely, to Federal Reserve policy, whose tightening prospects have added to the currency’s challenges.
HSBC’s pre-tax profit tanks by 62% in 2016 – HSBC reported a 62% slump in annual pre-tax profit that fell way short of analysts’ estimates due to one-time charges related to some businesses, and announced a new $US1 billion share buy-back.
JEFFERIES: “Chinese money is going cold on London” – Investment in prime office space in London is taking a double hit from both Brexit and a slowdown in interest from Chinese and Hong Kong-based buyers.
Uber CEO launches ‘urgent investigation’ and sends company-wide memo after former engineer alleges sexual harassment – Uber CEO Travis Kalanick has launched an internal investigation after a former employee said in a personal blog post that she was sexually harassed and experienced gender bias during her time at the company.
America’s affordable housing crisis has reached a new milestone – In the final quarter of last year, Americans spent the highest share of their incomes on mortgage payments since 2010, according to real estate company Zillow.
Fannie and Freddie plunge after court rules that hedge funds can’t sue the government for collecting their profits – Hedge funds still won’t be able to sue the US government for seizing profits made by the mortgage-loan companies Fannie Mae and Freddie Mac after their post-recession bailout.
Take a look inside Warren Buffett’s Southern California vacation home, which he just listed for $US11 million – Warren Buffett could see a big return if his Laguna Beach home sells for close to its listing price.