What you need to know on Wall Street today
Thomson Reuters
Goldman Sachs just announced a new class of 509 managing directors - the largest class in the firm's history.
In related news, the CFO of Goldman Sachs keeps talking about becoming the Google of Wall Street. The investment bank led a $10 million funding round for a startup that wants to help Wall Street clean its data. And Goldman is among the Wall Street banks that could take home a share of more than $1 billion in fees from a tech deal spree.
Bill Ackman's Pershing Square lost its bid Tuesday to appoint three nominees to the board of Automatic Data Processing, the human-resources company. But according to Ackman, he also won. You can read our interview with Ackman here.
In trading news, IEX, America's newest stock exchange, is undercutting rivals Nasdaq and the New York Stock Exchange. A small band of trading specialists are taking calls about $50 million bitcoin deals. We just got a glimpse of how bitcoin futures will work. And there's a brand new way to bet on the market's hottest stocks.
In D.C news, House Republicans suddenly have a massive problem with their tax bill. Larry Summers slammed Steven Mnuchin over his claims the GOP tax plan would pay for itself. And President Trump is getting a historic chance to reshape the world's most powerful central bank, according to Business Insider's Pedro da Costa.
In investing news, we talked to the chief investment strategist at $920 billion fund giant Invesco about where you should invest right now.
And in tech news, Snap flopped with disastrous Q3 earnings that sent shares diving. Here's what you need to know:
- Snap trims earnings losses after Tencent announces a 10% stake
- Snapchat is redesigning its app after CEO Evan Spiegel admitted it's too difficult to use
- Snap wrote down nearly $40 million because Spectacles are a flop
- A critical mistake cost traders betting against Snap huge profits
- RBC: There's 3 things Snap can do to turn itself around
- 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.
- Colon cancer rates are rising in young people. If you have two symptoms you should get a colonoscopy, a GI oncologist says.
- Saudi Arabia wants China to help fund its struggling $500 billion Neom megaproject. Investors may not be too excited.
- 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!
- JNK India IPO allotment – How to check allotment, GMP, listing date and more
- Indian Army unveils selfie point at Hombotingla Pass ahead of 25th anniversary of Kargil Vijay Diwas
- JNK India IPO allotment date
- JioCinema New Plans
- Realme Narzo 70 Launched
- Apple Let Loose event
- Elon Musk Apology
- RIL cash flows
- Charlie Munger
- Feedbank IPO allotment
- Tata IPO allotment
- Most generous retirement plans
- Broadcom lays off
- Cibil Score vs Cibil Report
- Birla and Bajaj in top Richest
- Nestle Sept 2023 report
- India Equity Market