Finance Insider is Business Insider’s summary of the top stories of the past 24 hours.
Bill Ackman wants to shake things up at Chipotle.
His hedge fund, Pershing Square, disclosed a 9.9% stake in the fast-casual chain on Tuesday and said it is seeking talks with the company. In the short time since the disclosure of Pershing Square’s stake, Wall Street analysts have not been kind to Ackman’s new investment.
In related news, a 24-year-old Chipotle cook is trying to shake up a huge hedge fund.
We’ve written plenty over the last few days about the brutal conditions on Wall Street. More than 10,000 front-office jobs have been cut across the top 10 banks since 2011, and that number could swell, as 2016 revenues have disappointed. There is literally just one bright spot: rates trading.
JPMorgan has announced two new coheads of its equities business, following the departure of Tim Throsby to Barclays. And Credit Suisse said Brian Chin will succeed Timothy O’Hara as chief executive of global markets.
Here are the 9 best Wall Street banks to work for, according to Vault.com.
Apple is unveiling its new iPhone today, along with some other products like a new Apple Watch. A product page on Amazon.com just seemingly confirmed a few details and rumours about the iPhone 7 ahead of the event.
We’re covering all the news live at the Bill Graham Civic Auditorium in San Francisco as it happens.
If history is any guide, Apple stock will go up in the next few days, between Wednesday’s official launch event and the actual on-sale date of the new iPhone 7.
Finally, Goldman Sachs Elevator explains the hierarchy of watches on Wall Street.
Here are the top Wall Street headlines at midday:
Here are the winners and losers in just about every economic scenario we can imagine – The global economy is humming along, and the wild market swings we’ve seen over the past 12 months have been notable by their absence. Still, there are risks on the horizon.
Drug prices are back in the spotlight — here are the companies with the most to lose – Almost a year after pharmaceutical price hikes became the focus of national attention with Turing Pharmaceuticals’ 5,000% overnight increase of the drug Daraprim, it remains a big issue in the US.
People are almost completely ignoring a looming crisis for oil – In the current climate, the vast majority of worry in the oil markets surrounds the huge imbalance in supply and demand in the industry.
BLACKROCK: Climate change is going to move a huge amount of money and not enough people are paying attention – BlackRock, the world’s largest asset manager with almost $5 trillion (£3.7 trillion) in assets, said that all investors need to factor climate change, and the investment needed to halt it, into their future risk-assessments.
Here’s how (almost) everything you can buy is doing so far this year and since Brexit – Deutsche Bank’s latest slide deck outlining its “House View” published on Wednesday updated their chart of how major asset classes have performed year-to-date.
‘The 800 pound gorilla’: A hedge fund manager explains why a $200 billion company is set to take off – Dan Chen, CEO of hedge fund Talguard Investments, knows a thing or two about investing.
These 9 home batteries will help you save tons of money on your energy bill – These 9 home batteries will help you save tons of money on your energy bill.
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