What you need to know on Wall Street today
Welcome to Finance Insider, Business Insider's summary of the top stories of the past 24 hours.
A van plowed into dozens of people on a tourist-heavy street in Barcelona earlier today.
There's no suspect in custody at this time, and multiple fatalities have been reported. Here's what we know so far. Check back here through the day for more as we get it.
Back in the US, the fallout from the deadly white-nationalist rally in Charlottesville, Virginia, last weekend continues. Here's the latest:
- Here's how Trump's council of business titans fell apart
- "You can't change history, but you can learn from it": Trump says he's sad to see Confederate statues being removed
- Here are all the members who left Trump's now-disbanded manufacturing council after Charlottesville
- Here's the memo Larry Fink, the head of the world's largest investor, sent to staff about Trump's council
- DIMON: I "strongly disagree" with Trump's Charlottesville reaction and supported disbanding his business council
- Apple's Cook says he disagrees with Trump, vows donations to rights groups
- Mark Zuckerberg: Where does this hate come from?
- ANALYST: Most investors respect the Merck CEO's decision to resign from Trump's council
- "We're at economic war with China": Steve Bannon lays out China trade plans in wide-ranging interview
- False rumors that Gary Cohn is leaving the White House just spooked Wall Street - for a good reason
As Trump's two business councils were falling apart yesterday afternoon, the Federal Reserve published the minutes from July's policy meeting. Most Fed officials support a move towards unwinding the $4.5 trillion balance sheet at "an upcoming meeting." The Fed also fired off a stark warning highlight one of the biggest risks for stocks.
In finance news, banks are cutting back on lending to the riskiest borrowers. The US filed a $400 billion Libor claim on behalf of 39 banks rescued during the financial crisis. A senior exec in Citigroup's equities unit left. And Elizabeth Warren slammed Wells Fargo's board changes.
In hedge fund news, an ADP director has a relationship with the activist trying to shake it up - and it shows how messy Wall Street really is. And a secretive quant fund offered staff the rare opportunity to invest - and then delivered a bumper return.
In company news, Mylan finalized its $465 million EpiPen settlement with the US. Walmart beat on earnings as online sales surged. And Alibaba blew past estimates.
In tech news, Snap executives have started selling their shares. The Uber engineer accused of downloading thousands of files once urged Travis Kalanick to give a "Greed is Good" speech. And Facebook shut down an anonymous group used by its Trump-supporting employees after people started harassing one another.
We compared Economy and Economy Plus on 6 different airlines - here's the difference.
Lastly, here are 100 trips everyone should take in their lifetime, according to the world's top travel experts.
- Colon cancer rates are rising in young people. If you have two symptoms you should get a colonoscopy, a GI oncologist says.
- I spent $2,000 for 7 nights in a 179-square-foot room on one of the world's largest cruise ships. Take a look inside my cabin.
- An Ambani disruption in OTT: At just ₹1 per day, you can now enjoy ad-free content on JioCinema
- Sustainable Waste Disposal
- RBI announces auction sale of Govt. securities of ₹32,000 crore
- Catan adds climate change to the latest edition of the world-famous board game
- Tired of blatant misinformation in the media? This video game can help you and your family fight fake news!
- Tired of blatant misinformation in the media? This video game can help you and your family fight fake news!
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