Welcome to Finance Insider, Business Insider’s summary of the top stories of the past 24 hours.
The US economy added 211,000 jobs in April, rebounding after an unexpectedly weak March, according to the Bureau of Labour Statistics. Here’s what you need to know:
- Jobs make a comeback, unemployment rate drops to the lowest in a decade
- Wage growth slows down
- Labour force participation ticks down
- Canada’s jobs report disappoints
In the stock market, traders are losing billions betting against some of America’s most popular companies. Mystery trader “50 Cent” has been unmasked. And the world’s hottest investment product is heading for a record-breaking year.
And in the bond market, Fed officials are giving more speeches than ever but their message is still muddled. “Cracks are emerging” in one of the riskiest parts of the market. In commodities, the oil-rig count climbed for 16th straight week. And a huge oil producer is ramping up production — but there’s reason to remain cautious.
JPMorgan is trying to tackle a “moral and economic crisis” in the South Bronx. Brexit is making Goldman Sachs eye up Frankfurt and Dublin for expansion. And here are the 11 richest hedge fund managers in Britain.
Berkshire Hathaway’s annual meeting — a financial pilgrimage that draws throngs of CEO Warren Buffett’s admirers from around the world — is on Saturday. Here’s what you need to know:
- Warren Buffett, IBM’s biggest believer, sold a third of his stock in the company
- Warren Buffett wants to buy something huge
- Warren Buffett brilliantly explains how bubbles are formed
- Warren Buffett explains why a good business is one “your idiot nephew” could run
- Here’s what it’s like to be a shareholder at Berkshire Hathaway’s annual meeting
There’s $US2.4 trillion dollars stashed overseas — here are the companies hoarding the most cash outside America. In related news, here’s what you need in tech:
- Here’s why a Wall Street analyst thinks Apple could buy Tesla, Netflix or Disney
- Jeff Bezos just sold nearly $US1 billion of Amazon stock
- Walmart applies for a patent to rival Amazon Dash
- Mark Zuckerberg’s plan to create non-voting Facebook shares is going to trial in September
- Tesla just made a disastrous pivot on the Model Y
- Here are 3 stocks that bridge the generational divide between millennials and their elders
Here’s the most expensive home for sale in every state. Here’s the the 26 major cities with the highest quality of life in the world. Lastly, go inside the stunning French bistro that was just named the best new restaurant in America.