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Under Thomas Kurian, Google Cloud is announcing some heavyweight enterprise customers and it's a good sign for his ultimate ambitions (GOOG, GOOGL)

At Google Cloud Next, Google Cloud announced it will work with customers like Goldman Sachs, Deutsche Bank, Verizon, Fox Sports, and the French auto company Renault. Previously, Google Cloud had said it would triple its salesforce over the next few years. Google Cloud CEO Thomas Kurian had said that it plans to specialize in going after customers in specific verticals like finance and telecommunications. Visit Business Insider's homepage for more stories. When Google Cloud CEO Thomas Kurian t...
Tags: Google, Amazon, Verizon, Microsoft, Ebay, Trends, Deutsche Bank, Goldman Sachs, North America, Renault, Sabre, Lowe, Fox Sports, KeyBank, Google Cloud, Kurian


SoftBank is reportedly considering selling the trailblazing chip design company Arm Holdings — or taking it public

SoftBank is considering selling chip design company Arm Holdings or taking it public, the Wall Street Journal reported Monday citing unnamed sources. Arm Holdings, which Softbank acquired four years ago for $32 billion, became a dominant player in the chip market with a power-efficient architecture embraced by many mobile device manufacturers. The British company recently scored a big win after Apple announced that it will transition away from Intel chips for its Mac computers and will instead...
Tags: Apple, Softbank, US, America, Trends, Intel, ARM Holdings, Goldman Sachs, WeWork, Wall Street Journal, Cto, Trump, SoftBank Group, Intel ARM, SecureDrop Claim


Exclusive data suggest a sharp decline in Netflix cancellations internationally drove strong subscriber growth in Q2

Exclusive third-party data suggests Netflix could mark another strong quarter for subscriber growth when it reports on July 16, after demolishing subscriber targets last quarter. The rate of Netflix cancellations declined internationally during the second quarter, new data from analytics firm SimilarWeb that was shared exclusively with Business Insider suggests. SimilarWeb tracks traffic on Netflix's registration and cancellation page — the main channel were subscribers can terminate their ser...
Tags: UK, Hollywood, Disney, US, Trends, Netflix, Goldman Sachs, Chris Hemsworth, Greg Daniels, Markets Insider, HBO Max, Brazil Canada France India New Zealand, Steve Carell Ryan Murphy, Kenya Barris BlackAF Spike Lee


Goldman Sachs quants overseeing $75 billion built a new pandemic-era risk factor from scratch. 2 execs walked us through how it works and their process for refining the model.

Goldman Sachs Asset Management's Quantitative Investment Strategies team, which manages $75 billion, developed a risk factor specifically for the coronavirus and continue to maintain it today. The signal was first created in January to understand the exposure QIS's Equity Alpha franchise had to the virus. The QIS team has previously created several risk factors based on binary market events with potentially significant tail risk, but this is the longest they've maintained one. A weekly meeting...
Tags: China, US, Trends, Credit Suisse, Goldman Sachs, Ali, Walsh, Bridgewater, Steve Cohen, Dennis Walsh, Coatue, Goldman Sachs Asset Management GSAM, GSAM, Schonfeld, QIS, Osman Ali


Goldman Sachs quant investors overseeing $75 billion built a new pandemic-era risk factor from scratch. 2 GSAM execs walked us through how it works and their process for refining the model.

Goldman Sachs Asset Management's Quantitative Investment Strategies team, which manages $75 billion, developed a risk factor specifically for the coronavirus and continue to maintain it today. The signal was first created in January to understand the exposure QIS's Equity Alpha franchise had to the virus. The QIS team has previously created several risk factors based on binary market events with potentially significant tail risk, but this is the longest they've maintained one. A weekly meeting...
Tags: China, US, Trends, Credit Suisse, Goldman Sachs, Ali, Walsh, Bridgewater, Steve Cohen, Dennis Walsh, Coatue, Goldman Sachs Asset Management GSAM, GSAM, Schonfeld, QIS, Osman Ali


WeWork is looking to pull off a huge turnaround. Here's the latest on exec moves and key enterprise deals at the coworking giant.

WeWork pulled its IPO in 2019 after mulling a massive valuation cut to drum up investor interest, and cofounder Adam Neumann was ousted as CEO and chairman. Real-estate veteran Sandeep Mathrani started as CEO in February. In April, investor SoftBank backed out of its plan to buy $3 billion worth of WeWork shares, including nearly $1 billion from Neumann. You can read our stories by subscribing to Business Insider. Here's everything we know about what's going on inside WeWork: Latest news W...
Tags: Google, UK, New York, Stanford, Softbank, New York City, US, Trends, Kanye West, Italy, Manhattan, Brookfield, Ibm, Silicon Valley, Goldman Sachs, Ufc


Paige, the computational pathology startup targeting cancer, closes Series B at $70M

Paige, the startup that spun out of the Memorial Sloan Kettering Cancer Center and launched in 2018 to help advance cancer research and care by applying AI to better understand cancer pathology, is today announcing a milestone in its growth story: it has raised a further $20 million from Goldman Sachs and Healthcare Venture Partners, closing out its Series B at $70 million. Leo Grady, Paige’s CEO, says the funding will go towards several areas. It will be used for hiring; to continue expandin...
Tags: Health, Startups, TC, UK, Cancer, Funding, Tech, Eu, Artificial Intelligence, Goldman Sachs, Biotech, Goldman, Paige, MSK, Grady, Memorial Sloan Kettering Cancer Center


Paige, the computational pathology startup targeting cancer, closes a Series B at $70M

Paige, the startup that spun out of the Memorial Sloan Kettering Cancer Center and launched in 2018 to help advance cancer research and care by applying AI to better understand cancer pathology, is today announcing a milestone in its growth story: it has raised a further $20 million from Goldman Sachs and Healthcare Venture Partners, closing out its Series B at $70 million. Leo Grady, Paige’s CEO, says the funding will go towards several areas. It will be used for hiring; to continue expandin...
Tags: Health, Startups, TC, UK, Cancer, Funding, Tech, Eu, Artificial Intelligence, Goldman Sachs, Biotech, Goldman, Paige, MSK, Grady, Memorial Sloan Kettering Cancer Center


JPMorgan trader put on leave — lenders unload hotel loans — SoFi applies for bank charter

  Welcome to Wall Street Insider, where we take you behind the scenes of the finance team's biggest scoops and deep dives from the past week.  If you aren't yet a subscriber to Wall Street Insider, you can sign up here. With a historic travel-industry slump looking like it could stretch on for months or even years, lenders are beginning to sell debt tied to distressed hotel properties. It's a big change in posture for these firms, which had been wary to sell loans at discounts earlier on in the ...
Tags: Apple, Google, New York, London, Colorado, Trends, CMO, Atlanta, Bank Of America, Bloomberg, Paypal, Nba, Citigroup, Deutsche Bank, Anthony Noto, American Express


The best way for companies to incorporate ESG goals is by using data science and AI

Junta Nakai is the global industry leader for financial services at Databricks, a big data and AI company valued at $6.2 billion. In this op-ed, Nakai explains why companies looking to focus on environmental, social, and governance (ESG) goals need to use data and AI technology.  Visit Business Insider's homepage for more stories. Companies and brands that want to cement themselves as environmental, social, and governance (ESG) leaders must leverage data and artificial intelligence.  Today, t...
Tags: Microsoft, Americas, Trends, Asia Pacific, Goldman Sachs, ESG, Databricks, Monte Carlo, Carlyle, Nakai, Junta Nakai, Databricks Junta, Databricks In, Unified Data Analytics Platform


Fintech investors say the Wirecard scandal will put increased regulatory pressure on payments companies and stymie growth for startups

Investors expect greater scrutiny from regulators around the payments space in the wake of the Wirecard accounting scandal.  They think the payments industry could see more consolidation, with only fintechs with the most funding able to meet stricter regulatory requirements. Incumbents could also capture back market share from startups, as customers look to move to more established players. For more stories like this, sign up here for our Wall Street Insider newsletter. Fintech investors are ...
Tags: Europe, London, China, US, Trends, Customers, Paypal, Goldman Sachs, Fintech, Fis, Mastercard, Bain Capital Ventures, Business Insider, Klarna, Bluesnap, Ouml


Fintech investors see more red tape for the booming payments space following the Wirecard scandal, and say that costs to comply could crimp newcomers' growth

Investors expect greater scrutiny from regulators around the payments space in the wake of the Wirecard accounting scandal.  They think the payments industry could see more consolidation, with only fintechs with the most funding able to meet stricter regulatory requirements. Incumbents could also capture back market share from startups, as customers look to move to more established players. For more stories like this, sign up here for our Wall Street Insider newsletter. Fintech investors are ...
Tags: Europe, London, China, US, Trends, Customers, Paypal, Goldman Sachs, Fis, Mastercard, Bain Capital Ventures, Business Insider, Klarna, Bluesnap, Ouml, Fiserv


Key stock investors skeptical Dems can sweep election: Goldman Sachs

Stocks in companies that benefited the most from Republican tax cuts are pricing in lower odds of a blue wave than betting markets.
Tags: Finance, Article, Goldman Sachs, FBN, Fbn/markets, FOXBusiness, Fox-business/markets/stocks, Fox-business/markets/us-markets, Fox-business/politics/election, Jonathan Garber, Fox-business/topic/coronavirus, Af2781fa-2f27-5c43-b8cc-91b209951e7b


A majority of financial services companies plan to double-down on AI and other high-tech tools that have helped the industry thrive during the coronavirus crisis, according to a new study

Investments in cloud computing and other digital technologies helped ensure the financial services industry's resilience during coronavirus pandemic. Now, those investments are poised to accelerate for the majority of firms, according to a study released on Tuesday by Broadridge Financial Solutions.  Of the 500 respondents, 58% expect to bolster investments in interactive tools and 54% plan to boost funding for AI-based initiatives.  "We're past the survival mode piece and people are really th...
Tags: Amazon, US, Trends, Citigroup, Goldman Sachs, Siemens, Broadridge, Google Cloud, Innovation Inc, Broadridge Financial Solutions, JPMorgan Chase and Bank of America, Gokey, Atte Lahtiranta, Tim Gokey, CTBC Bank, Noor Menai


Goldman Sachs predicts GDP to shrink more than expected but sees economy back on track in September

A "pause" in consumer spending in July and August will likely limit a third-quarter rebound, according to the analysts, which also upgraded their 2021 numbers.
Tags: Finance, Article, Goldman Sachs, FBN, Fbn/markets, FOXBusiness, Fox-business/markets/stocks, Fox-business/markets/us-markets, Evie Fordham, Fox-business/markets/economy, Fox-business/topic/coronavirus, E2249de3-071e-5792-bf86-793668252ae2


How much Apple, Tesla, Amazon, and 10 other tech giants pay their workers, from engineers to salespeople

Hello everyone! Welcome to this weekly roundup of Business Insider stories from executive editor Matt Turner. Please subscribe to Business Insider here to get this newsletter in your inbox every Sunday. Hello! Tech companies splash out huge sums of cash to attract top talent, as Rob Price reported this week. How much exactly? From his story: Compensation overall remains a closely guarded secret, with firms refusing to disclose their rates as employees take to forums and anonymous social network...
Tags: Apple, Amazon, US, Trends, Netflix, Gop, Holland, Fidelity, Rob, Goldman Sachs, Crossfit, Index Ventures, Business Insider, American Airlines, Lizzo, Omnicom


Wall Street Insider: The Mooch's leaked memo to Merrill — Boutique bank exits — Hackers target PE

  Welcome to Wall Street Insider, where we take you behind the scenes of the finance team's biggest scoops and deep dives from the past week.  If you aren't yet a subscriber to Wall Street Insider, you can sign up here. Dealmaking activity has fallen off a cliff this year, as executives focus on steering their existing businesses through the havoc caused by the coronavirus crisis instead of seeking out new deals. Data from Refinitiv released this week showed that the drop in activity was more pr...
Tags: Apple, Time Warner, San Francisco, Trends, Bank Of America, Washington Dc, Nba, Merrill Lynch, Holland, Fidelity, Goldman Sachs, Las Vegas, Morgan Stanley, Goldman, ESG, Alex


Investors at Point72 and Goldman Sachs believe industry giants like FIS and Fiserv will be the next to be disrupted by fintech. Here's where they are most susceptible.

A partner at Point72 Ventures, the VC arm of Steve Cohen's hedge fund, expects the next wave of fintech disruption to happen in the less publicized back-end tech that powers big banks. Infrastructure giants like FIS and Fiserv have dominated the banking infrastructure space for decades, but fintechs are looking for ways to reimagine these core banking services. "They are all, as it currently stands, very good businesses with large customer bases who trust them, but the fact of the matter is th...
Tags: US, Trends, Chase, Goldman Sachs, Andreessen Horowitz, Federal Reserve, Google Ventures, Goldman, Fintech, Fis, SoFi, Wells Fargo, Worldpay, Steve Cohen, Fiserv, Shriner


Hong Kong is gone. It's over.

Hello, everyone! Welcome to the new edition of Insider Today. Please sign up here. QUOTE OF THE DAY "We are living in an Idiocracy." — Washington Post conservative columnist Max Boot bemoaning the stupidity of the Federal government's refusal to advocate ubiquitous mask wearing and thereby save 5% of GDP. WHAT'S HAPPENING Hong Kong police arrested more than 300 people protesting a new security law imposed by China. Police say nine arrests were under the new law, which criminalizes any spe...
Tags: Apple, Hong Kong, Florida, London, Obama, Congress, Colorado, Washington, Senate, White House, China, US, Trends, Georgia, Fbi, Harvard


How a Bank of America exec is partnering with a non-profit training program to tap into a diverse and underserved talent pool for Wall Street tech jobs

NPower is a non-profit organization that trains military veterans and young adults in underserved communities for careers in technology.  The program is based across eight different regions in the US and Canada and serves 1,400 students annual via a 16-week classroom program and a paid internship.  David Reilly, who leads global banking and markets, enterprise risk and finance technologyand core technology infrastructure at Bank of America, serves as board chair for NPower. Reilly did not atte...
Tags: New York, Wall Street, US, America, Trends, Bank Of America, Canada, Goldman Sachs, FICC, Deloitte, Blackstone, Npower, Dominican Republic, Citi, Reilly, Ferreira


What if your boss acted like this?

Hello, everyone! Welcome to the new edition of Insider Today. Please sign up here. QUOTE OF THE DAY "There was no sense of 'Team America' in the conversations...It was like the United States had disappeared. It was always 'Just me'." — an anonymous Trump administration official, describing Trump's phone calls with foreign leaders, according to a CNN report. WHAT'S HAPPENING The European Union officially banned US visitors. American citizens are barred until the US controls its COVID-19 o...
Tags: Facebook, Twitter, Hong Kong, Putin, White House, China, US, America, Trends, Bank Of America, European Union, Cnn, United States, Taliban, New York Times, Hugh Jackman




A partner at Point72 Ventures is betting the next wave of fintech disruption will target back-end tech that's dominated by giants like FIS and Fiserv

A partner at Point72 Ventures, the VC arm of Steve Cohen's hedge fund, expects the next wave of fintech disruption to happen in the less publicized back-end tech that powers big banks. Infrastructure giants like FIS and Fiserv have dominated the banking infrastructure space for decades, but fintechs are looking for ways to reimagine these core banking services. "They are all, as it currently stands, very good businesses with large customer bases who trust them, but the fact of the matter is th...
Tags: US, Trends, Chase, Goldman Sachs, Andreessen Horowitz, Federal Reserve, Google Ventures, Goldman, Fintech, Fis, SoFi, Wells Fargo, Worldpay, Steve Cohen, Fiserv, Shriner


Meet the non-profit program helping young people from underserved communities land tech jobs at places like Bank of America

NPower is a non-profit organization that trains military veterans and young adults in underserved communities for careers in technology.  The program is based across eight different regions in the US and Canada and serves 1,400 students annual via a 16-week classroom program and a paid internship.  David Reilly, who leads global banking and markets, enterprise risk and finance technologyand core technology infrastructure at Bank of America, serves as board chair for NPower. Reilly did not atte...
Tags: New York, Wall Street, US, America, Trends, Bank Of America, Canada, Goldman Sachs, FICC, Deloitte, Blackstone, Npower, Dominican Republic, Citi, Reilly, Ferreira


Meet the rising stars who are taking on the $1.9 trillion energy industry and cleaning up the electrical grid

An enormous transition is underway across the electric grid. Power plants that run on fossil fuels are being replaced by solar panels and wind farms and more batteries and electric vehicles are plugging in every day.   Once niche, the clean energy industry is going mainstream. Goldman Sachs says it's an investment opportunity worth as much as $16 trillion through 2030.  Within the industry, researchers, entrepreneurs, and workers are bringing a wide range of solutions to bear, from batteries t...
Tags: Navy, US, Trends, Goldman Sachs, International Energy Agency, Joel Jean, Kathy Hannun, Dandelion Energy


Meet the 21 rising stars who are transforming the future of clean energy and taking on a $16 trillion opportunity

An enormous transition is underway across the electric grid. Power plants that run on fossil fuels are being replaced by solar panels and wind farms, while more batteries and electric vehicles are plugging in.   Once niche, the clean energy industry is going mainstream. Goldman Sachs says it's an investment opportunity worth as much as $16 trillion through 2030.  Within the industry, researchers, entrepreneurs, and workers are bringing a wide range of solutions to bear, from batteries that sto...
Tags: Google, Elon Musk, New York, Texas, Australia, California, Stanford, Israel, US, San Francisco, Trends, Diageo, Tesla, Nasa, Earth, Mit


After flashy hires and a big buildout, Perella Weinberg's media and telecom team has been gutted. We tracked the bankers who are out — and what it says about the landscape for blockbuster M&A deals.

As it was ramping up its dealmaking platform in 2015, Perella Weinberg Partners poached star banker Woody Young, a chief adviser to AT&T, to build out a media and telecom practice.  The new group got off to an explosive start in 2016, landing one of the largest mergers in history — AT&T's $100 billion deal for Time Warner.  But since then, deals have been scarce for Perella's media and telecom team, and the group has been gutted by departures in 2020. Young remains at Perella and has added the...
Tags: New York, London, Corporate America, Time Warner, Disney, US, San Francisco, Trends, Atlanta, Paypal, Fox, Comcast, Merrill Lynch, Cbs, Goldman Sachs, Lazard


After flashy hires and a big buildout, Perella Weinberg's media and telecom team has been gutted. We tracked the exodus — and what it says about the landscape for blockbuster M&A deals.

As it was ramping up its dealmaking platform in 2015, Perella Weinberg Partners poached star banker Woody Young, a chief adviser to AT&T, to build out a media and telecom practice.  The new group got off to an explosive start in 2016, landing one of the largest mergers in history — AT&T's $100 billion deal for Time Warner.  But since then, deals have been scarce for Perella's media and telecom team, and the group has been gutted by departures in 2020. Young remains at Perella and has added the...
Tags: New York, London, Corporate America, Time Warner, Disney, US, San Francisco, Trends, Atlanta, Paypal, Fox, Comcast, Merrill Lynch, Cbs, Goldman Sachs, Lazard


Construction's digital transformation is speeding up. Here are 10 contech startups to watch.

The pandemic has hit the construction tech space hard, leading to layoffs at SoftBank-backed Katerra and a pause on ProCore's plans for an IPO. But those short-term challenges may lead to long-term gains, with $265 billion in annual profits up for grabs according to McKinsey. Spending on construction technology has actually increased by 50% since the pandemic began by of the companies that McKinsey surveyed. The construction industry, which is notoriously old-school, is embracing technology th...
Tags: Google, Amazon, Australia, Softbank, Trends, Bloomberg, Citigroup, SEC, Silicon Valley, Goldman Sachs, Autodesk, Norway, Greylock Partners, Khosla Ventures, Bain, Atomico


Mark Zuckerberg had $7 billion wiped off his fortune as advertisers boycott Facebook. He's going to be just fine.

Hello! Money talks. A flood of high-profile advertisers announced this week that they would boycott advertising on Facebook through July, responding to criticism of Facebook's inaction on hate speech. Facebook's stock fell 8% on Friday, wiping $7 billion off of CEO Mark Zuckerberg's net worth. The boycott has sent Facebook execs scrambling, with the social media giant's top ad exec on Friday sending a memo to advertisers promising an external audit of its safety tools and practices. Facebook al...
Tags: Amazon, Facebook, Mark Zuckerberg, Microsoft, Wall Street, China, India, Softbank, Africa, US, San Francisco, Trends, Tesla, Manhattan, Warren Buffett, Airbnb



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