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There’s a lot going on today, so I’m going to jump straight to the headlines:
- A former hedge fund manager at Visium has been charged with securities fraud, and turned himself in.
- These are the texts a Goldman Sachs banker allegedly sent to a prostitute he was trying to get for a client.
- China just took a left hook to its self-esteem.
- Jim Chanos has a new thing that should ‘scare the heck out of everybody’.
- Wall Street banks are desperately trying to make themselves better places to work.
- The most important things you need to know ahead of the Federal Reserve’s big announcement.
We’ve also published a series of articles from our “The Price of Profits” project with Marketplace radio. You can see all of our ongoing work on this topic here. Here are the headlines:
- There’s something worrying going on in corporate America.
- This is how shareholders got to be first in line for profits.
- Here’s the story behind the death of American conglomerates.
- The earliest companies weren’t interested in their shareholders — or making money.
- Why are you going to business school anyway?
Finally, this brilliant map renames each US state with a country generating the same GDP.
Here’s the best of the rest in Wall Street headlines:
There’s a ‘storm brewing’ in the US economy — It could get ugly in the US economy before long.
Big investors are taking their money out of hedge funds — here’s where they’re putting it instead — Investors are fleeing hedge funds and moving their money to a handful of private equity funds.
Sweden made a history-changing $85 billion mistake — A little more than a hundred years ago Norway and Sweden were a single state. Now Norway is one of the world’s richest countries, and Swedes are left scratching their heads.
The technology that is out to disrupt Wall Street has been overhyped — Don’t believe everything you hear about the benefits of blockchain technology.
Marc Andreessen hasn’t seen this many tech acquisitions in the pipeline in years — Microsoft-LinkedIn could be the tip of the iceberg.
Deutsche Bank lays out a radical vision for the future of Amazon’s shipping operations — How much of its supply chain will Amazon control in the future?
The iPhone 7 will be a snoozer — but just wait for the iPhone 8 ‘super cycle’ — The evidence has been piling up that the iPhone 7 will be a snoozer and only show modest improvements over the 6s.
Here are the winners so far from the biggest video game conference of the year — The Electronic Entertainment Expo (E3), one of the biggest video game conferences of the year, has already seen plenty of big announcements.