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It just doesn’t look good.
Business Insider’s Myles Udland points out that this just makes Goldman Sachs look as bad as people think it is. The reality, though, is that this was just unfortunate timing.
In non finance news, an EgyptAir flight from Paris to Cairo crashed with 66 people on board. Here’s everything we know about the EgyptAir jet that crashed so far. Check back here for more news as we get it.
Back on Wall Street, the pharmaceutical giant Bayer has made an unsolicited bid for the agrochemical company Monsanto — and a tiny boutique bank could stand to make a lot of money from it.
Here’s what the industry is saying about LendingClub’s crisis. Investment bank trading revenues don’t seem to have picked up, and that does not bode well. And June is on the table for a Fed rate hike.
A trade body set up by high-frequency trading firms just released a video highlighting the benefits these kinds of firms bring to financial markets. The video also inadvertently spelled out some of the negative side-effects, too.
Golfer Phil Mickelson unwittingly made $1 million from an insider-trading scheme.
And here are 27 stunningly remote hotels that are worth the trip.
Here are the top Wall Street headlines at midday:
Theranos made one critical mistake that has caused it the most grief – Theranos has voided two years of tests, as it seeks to win back the trust of regulators.
Walmart crushed expectations, and shares are exploding – Walmart reported first-quarter profits and sales Thursday that were better than expected, unlike several department stores that have struggled to gain ground.
There’s a guy in Saudi Arabia who is the CEO of his own publicly traded city – Fahd Al-Rasheed jokes that he always used to lose at SimCity, the computer game where you design and manage your own town. He lost, he says, because he would run out of money.
Here’s why Uber is getting killed in China – The transportation war has become increasingly brutal in China, with Uber playing catch up since its launch there in 2013.
A huge wave of sovereign defaults might be coming – Oil prices are around seven-month highs. But if folks think that this might be the end of all of their commodity problems, they may want to think twice.
The 15 best books to read on your commute – Your daily commute is built-in downtime. Instead of mindlessly playing Candy Crush while on the train, why not stimulate your brain a little bit with a book?
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