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It keeps getting worse for Yahoo.
Activist investor Eric Jackson of SpringOwl Asset Management joined the call for a board shake-up at Yahoo, telling Business Insider that “the current board as a whole has failed its fiduciary responsibilities.”
Elsewhere, JPMorgan banks analysts led by Kian Abouhossein published a 110-page note on Wednesday about the key investment themes for the financial sector.
Here is a chart on the banks Abouhossein thinks will win out in the long run, and here is a chart on the revenue outlook for the industry. And here are a couple of charts on what has happened to the Wall Street workforce since the financial crisis.
Finally, one of Silicon Valley’s hottest VCs just threw millions at a startup that could make Wall Street analysts sweat.
Here are the top Wall Street headlines at midday –
Valeant names interim CEO while Michael Pearson remains on medical leave – The embattled Canadian drug company Valeant Pharmaceuticals has named its former chief financial officer Howard Schiller as interim CEO.
FORMER FED PRESIDENT: ‘The Federal Reserve is a giant weapon that has no ammunition left’ – Former Dallas Fed president Richard Fisher thinks the Federal Reserve is out of tools to help markets.
3 things every young Wall Streeter needs to know going into bonus season – It is bonus season.
A battered market is about to face a ‘real life test’ – Sharp moves in the credit market have the potential to lead to so-called hung leverage loans.
JPMorgan’s complete guide to everything going on in global markets right now – JPMorgan Asset Management’s David Kelly and team have surveyed the economic landscape and released their first-quarter presentation outlining the state of the markets and more.
Here’s why banks are obsessed with a technology that’s ‘becoming the new internet’ – 2015 was the year of the blockchain for banks.
Elsewhere on the web –