Finance Insider is Business Insider’s summary of the top stories of the past 24 hours.
To sign up, scroll to the bottom of this page and click “Get updates in your inbox,” or click here.
Morgan Stanley reported second-quarter earnings that beat expectations on Wednesday morning.
And with all the big US banks having now reported earnings, it is clear that Morgan Stanley is getting one over on Goldman Sachs in equities, and JPMorgan is pulling ahead of the competition in fixed income.
The global head of foreign exchange cash trading at HSBC was arrested at John F. Kennedy International airport late on Tuesday. Mark Johnson will appear in federal court in New York on Wednesday, and with a former colleague has been charged with conspiring to defraud a client of the bank
In hedge fund land, PIMCO poached the boss of giant hedge fund the Man Group to be its new CEO and the cofounder of a $1.4 billion tech fund is going it alone.
A star investor at a $3 billion hedge fund is also going it alone with the backing of his former employer.
The king of NYC’s power lunch is gone — here are the restaurants that could take the throne.
Finally, here’s what it’s like to stay in the world’s most expensive hotel suite, which costs $75,000 a night
Here are the top Wall Street headlines at midday:
MORGAN STANLEY CEO ON BREXIT: We’ll have to open a new European headquarters – Morgan Stanley CEO James Gorman on Wednesday suggested that his firm would have to launch a new headquarters in Europe.
The Dow has a chance to do something it’s done only 6 times since 1980 – The stock market has hit a lot of records lately: all-time highs for the Dow Jones Industrial Average and for the S&P 500, with even the bond market making history (record-high prices and record-low yields).
Here’s when music giant Spotify will finally IPO – Music streaming giant Spotify aims to IPO in the second half of 2017.
This JPMorgan chief is telling clients to buy one type of asset that ‘rarely looked better’ – Investors in US equities have travelled a rocky road over the last year and have become risk averse in response to rollercoaster prices.
It’s going to take ‘at least 7 years’ to fix the job market’s biggest problem – The future of the American economy comes down to jobs — but not the jobs people are ready for now.
MarTech firm Sprinklr raises $105 million at a $1.8 billion valuation – Sprinklr, a US-based martech company that helps brands manage their paid and organic social media presence in one place, has raised a $105 million funding round at a $1.8 billion valuation.
Chinese nationalists are taking their anger out on anything American they can touch — For years the Chinese government has used its grip over the media to tell its people that the South China Sea historically and rightfully belongs to it and that the US is behind a plot to undermine that.
What wearing a $6,000 Rolex for a month taught a 24-year-old about wealth and status – I was so excited when it arrived. I opened the box and was immediately enraptured by its sublime beauty.
Business Insider Emails & Alerts
Site highlights each day to your inbox.