Finance Insider is Business Insider’s summary of the top stories of the past 24 hours.
Carl Icahn is having a bad day.
His firm, Icahn Enterprises, reported a second-quarter net loss of $69 million on revenue of $4.4 billion. He bet big that the high-yield market was going to crumble, and it hasn’t played out the way he thought.
Oh, and he is fleeing Atlantic City after burning $100 million on the Trump Taj Mahal.
The Bank of England cut interest rates to a historic low of just 0.25% on Thursday, and launched a £70 billion programme of quantitative easing, including an unprecedented £10 billion dedicated to buying investment grade bonds from companies with substantial UK operations. Here’s how markets reacted to the move.
Tesla on Wednesday reported a second-quarter loss that was greater than analysts had forecast, as well as revenues that fell short of expectations. Here are the headlines:
- This is the sentence all the Tesla shorts have been waiting for.
- Elon Musk just confirmed the next Tesla coming after the Model 3.
- Tesla and Solar City won’t merge with SpaceX.
- Tesla’s factory will become an ‘alien dreadnought.’
Two senior bankers share how they compete on Wall Street — and in the toughest races on earth.
Here’s everything you need to know about Friday’s jobs report.
Finally, this is the best kind of wine to pair with steak, according to a steak master.
Here are the top Wall Street headlines at midday: Trump's presidential campaign is hurting his business -- here are the stats -- Republican presidential nominee Donald Trump isn't just a businessman, he's a business, man, and new data from Foursquare shows that his campaign is taking a toll on his business -- specifically, Trump-branded casinos, hotels, and golf courses. This stock market rally is going to fall apart -- A common refrain around the markets and economy is that expansions don't die of old age. But that doesn't mean they can't still get a bit weary. There's been a 'serious and dangerous' slowdown in productivity -- When the US gross-domestic-product growth was released last Friday, the numbers were disappointing. Russia's inflation just plunged to its lowest level in over 2 years -- The headline inflation figure fell to 7.2% year-over-year in July, down from 7.5% in June, according to the Federal State Statistics Service. CREDIT SUISSE: 8 things that stand in the way of blockchain going mainstream -- Banks and financial institutions have been going crazy for blockchain technology over the last year and a half. Germany is writing to UK startups to try and persuade them to move to Berlin after Brexit -- A German politician is writing to London startups in an attempt to persuade them to relocate to Berlin after the Brexit vote. These swanky extended-stay apartments near Wall Street are a favourite with celebrities and business travellers -- Hotels and Airbnb rentals don't have to be your only accommodation options when travelling for work or for play.