What you need to know on Wall Street right now

Finance Insider is Business Insider’s summary of the top stories of the past 24 hours.

Imagine walking into a boardroom, introducing yourself to the chairman — perhaps opening with an insult or a threat to make things very uncomfortable for the entire board — and then saying “time to do things my way.”

Oh, but while you’re doing this, you’re neither a controlling shareholder, founder, or even an executive at the business. You’re an activist — that breed of investor that doesn’t sit quietly while things go their way, or don’t.

Here’s our beginner’s guide to being a rabble-rousing, corporate-raiding, CEO’s-worst-nightmare hedge fund manager.

Former hedge fund manager Ted Weschler, who is now one of Warren Buffett’s key lieutenants, sat down with BI Germany’s editor-in-chief Christin Martens for an interview


The Goldman Sachs partner who sent a famous memo to the bank’s junior staff is leaving. He is likely joining a new hedge fund launched by former Brevan Howard trader Ben Melkman, according to people familiar with the matter.

Big banks are ‘baking in’ a rate cut. Markets are roaring back. Stocks may be ready for a face-ripping rally.

The US economy was even stronger than we thought in the first quarter. There’s a ‘growing divide’ between the top and bottom of the housing market. Young people haven’t loved the economy this much since the tech boom.

Here’s a clear explanation of why political risks won’t be leaving markets anytime soon. ‘Leave’ voters were not as stupid as David Cameron wanted them to be.

Lastly, here are 30 of the best hidden bars in New York City — and where to find them.

Here’s the best of the rest in Wall Street headlines today:

Leaked Lyft numbers show it had a record May, but growth could be ‘flat’ after that — Lyft had a record May, completing 12.7 million rides in the month, according to a leaked investor update viewed by Business Insider.

Twilio’s stock is on fire again, surging by more than 20% — Twilio, the tech company that had a blockbuster IPO last week, is on fire again.

Lyft has hired a top banking firm — and it could point to a sale — Ride-sharing service Lyft has hired investment bank Qatalyst Partners

Everybody is missing the point of the Tesla-SolarCity deal — Tesla is trying to wrap up a deal for the troubled solar-panel leasing company that is run by Tesla CEO Elon Musk’s cousin Lyndon Rive.

VW is facing the nightmare scenario that terrifies every car company Volkswagen is going to pay a whopping $15.3 billion to the US government to settle claims related to its emissions-cheating scandal.

The founders of a multi-billion dollar hedge fund were split on Brexit, but profited anyway A hedge fund run by UK-based Marshall Wace gained 0.5% on Friday, according to a person familiar with the matter.

The depressing reality of the world economy in one chart — The world economy has been letting us down for years.

MORGAN STANLEY: Buy these stocks post-Brexit — Certain big American companies are likely to see their stock prices perform well in the wake of the surprise EU referendum result in which the UK voted to leave the EU.

Now’s the time when Wall Street’s biggest lie about trading can backfire — The UK’s vote to leave the EU has screens across Wall Street awash in red. No one knows when it will end.

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