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10 things before the opening bell

SOPA Images/Getty Images Welcome to 10 Things Before the Opening Bell. If this was forwarded to you, sign up here. Plus, download Insider's app for news on the go - click here for iOS and here for Android.Let's get into it.1. Amazon earnings fell short last week, clouding the outlook for Big Tech. But the markets have picked up again and US futures are pointing to a stronger start to the day later. 2. Cathie Wood's firm bought over $45 million in Robinhood stock. Ark Invest b...
Tags: Amazon, Hong Kong, New York, US, Newsletter, Trends, Markets, Hsbc, Delta, Ubs, Heineken, SEC, Robinhood, Tom Lee, Howard Marks, Opening Bell


A small Wyoming town is hoping Bill Gates' $1 billion nuclear power plant could save hundreds of jobs

Bill Gates' nuclear power company TerraPower is considering Glenrock, Wyoming as the site of its next-generation nuclear reactor. Hou Yu/China News Service/VCG via Getty Images Bill Gates is considering Glenrock, Wyoming, for his next-generation nuclear power plant. The plant could replace 200 jobs that are at risk as a local coal plant closes, the mayor said. Gates' company TerraPower is running the project with Warren Buffett-owned PacifiCorp. See more stories on Insider's ...
Tags: Trends, Ap, Wyoming, Bill Gates, Ubs, Warren Buffett, Fox Business, Reuters, US Department of Energy, Associated Press AP, PacifiCorp, Rock Springs, GlenRock, TerraPower, Getty Images Bill Gates, Anna Cooban


5 data points show the career-stifling decisions working moms had to make over the last year

Getty Images Working moms polled by Morning Consult and the New York Times turned down career opportunities this year. From forgoing new responsibilities to quitting altogether, the pandemic hit working mothers hard. Turning down those opportunities could also impact their future earnings and quality of life. See more stories on Insider's business page. The pandemic revealed just how thin the line between work and life is for American parents. Without adequate childcare, women in part...
Tags: Trends, New York Times, Delta, Ubs, Jp Morgan, Columbia University, Pesek, NWLC, Juliana Kaplan, Ben Winck, Whitney Pesek


US stock futures slip ahead of Tesla earnings in the wake of Asia's rout, while bitcoin surges past $38,000

Spencer Platt/Getty Images After US stocks logged all-time highs last week, futures point to a retreat on Monday. Asian stocks plunged as China tightened rules on its education and property sectors. Bitcoin rose above $38,000, partly driven by speculation that Amazon may accept it as payment. Sign up here for our daily newsletter, 10 Things Before the Opening Bell. US stocks looked set to open in the red on Monday ahead of Tesla's second-quarter earnings, as Asian equities plunged to ...
Tags: Amazon, Facebook, Asia, Hong Kong, Elon Musk, London, China, US, Trends, Tesla, Frankfurt, Tencent, Ubs, Tokyo, Federal Reserve, Hargreaves Lansdown


Elizabeth Warren took aim at Jeff Bezos, saying 'the richest guy on Earth can launch himself into space while over half the country lives paycheck to paycheck'

Sen. Elizabeth Warren and Amazon CEO Jeff Bezos. Mandel Ngan/Pool/Getty Images, Elif Ozturk/Anadolu Agency via Getty Images Sen. Elizabeth Warren took a jab at Jeff Bezos over his recent space flight as other Americans struggle financially. Warren said if the billionaire can go to space, he can afford to pay more in taxes. ProPublica reported Bezos paid $0 in income taxes for at least two years from 2006-2018. See more stories on Insider's business page. Sen. Elizabeth Warren tweeted S...
Tags: Amazon, Politics, Taxes, Elizabeth Warren, Trends, Ubs, Warren, Jeff Bezos, Blue Origin, Forbes, Bezos, Sen Elizabeth Warren, Tesla CEO Elon Musk, Lynnley Browning, Getty Images Sen Elizabeth Warren, Kelsey Vlamis


JPMorgan OKs crypto for rich - Ackman axes SPAC deal - Deal toy gold rush

Happy Saturday, and welcome to Insider Finance. Here's a rundown of our top stories from the past week:Bill Ackman pulled the plug on a complex deal for his huge SPACJPMorgan is opening up crypto funds to wealth clients who want them We took a look inside the rise of Schonfeld's Ryan Tolkin It's been a wild year for Wall Street's deal toy makersUBS and Deutsche Bank were the latest to bump pay for junior investment bankers If this email was forwarded to you, sign up here to get y...
Tags: New York, Wall Street, Trends, Reddit, Ubs, Deutsche Bank, SEC, Bill Ackman, Morgan, Jpmorgan, SPAC, Universal Music Group, Ackman, Brian Snyder Reuters, Michael Loccisano Getty, Alan Dyer


3 signs the labor shortage could end soon - and one major sign that it won't, according to UBS

The labor shortage is hitting fast food restaurants. Photo by Joe Raedle/Getty Images UBS Evidence Lab economists said job openings and retirement peaks may signify an end to the labor shortage. Job gains in leisure and hospitality are also promising signs that people are getting back to work. But bottlenecks, which slow economic growth, could prolong the labor shortage, they said. See more stories on Insider's business page. The labor shortage is tough on the economic recovery. Consum...
Tags: Labor, Trends, Ubs, Joe Raedle Getty, UBS Evidence Lab, Ayelet Sheffey, Samuel Coffin, Andrew Dubinsky Pablo Villanueva, John Hopkins Bloomberg UBS


There's a good chance Jerome Powell will lose his job as Fed chair due to left-wing pressure, JPMorgan says

Fed chair Jerome Powell is due to speak on Thursday Pool/Getty Images There's a good chance Jerome Powell will not be renominated as Fed chair, JPMorgan said. The bank's chief economist said left-wing Democrats may not want the Republican Powell to stay. He also said that Fed Vice Chair Richard Clarida may not be nominated again for the same reasons. Sign up here for our daily newsletter, 10 Things Before the Opening Bell. There's a significant chance that Jerome Powell will no...
Tags: US, Trends, Joe Biden, Democrats, Ubs, Federal Reserve, Donald Trump, Fed, Jpmorgan, Powell, George H W Bush, Jerome Powell, Lael Brainard, Harry Robertson, Michael Feroli, Richard Clarida


10 things before the opening bell

Spencer Platt/Getty Images Welcome to 10 Things Before the Opening Bell. If this was forwarded to you, sign up here. Plus, sign up here for Insider Investing, our weekly markets analysis newsletter.Let's get into it.1. US futures have got a boost today from a set of blockbuster tech earnings. The S&P 500 is now less than 1% below its record high of 4,393. Shares in Snap and Twitter are on the move. 2. Warren Buffett's Berkshire Hathaway sold Kirby after owning it for 35 years. At...
Tags: US, Newsletter, Trends, Markets, Ubs, SEC, Berkshire Hathaway, Warren Buffett, North America, Musk, Buffett, Jpmorgan, Schlumberger, Kirby, Dogecoin, Howard Marks


Credit Suisse Brings UBS' Kruck in as Asset Management Chief of Staff

By Brenna Hughes Neghaiwi and Oliver HirtZURICH (Reuters) - Credit Suisse has hired UBS' David Kruck, with new divisional head Ulrich Koerner...
Tags: Ubs, Oliver, Brenna Hughes Neghaiwi, Reuters Credit Suisse, Credit Suisse Brings UBS Kruck, David Kruck


Bank of America is offering crypto exchange-traded products for some of its clients, report says

Bank of America Justin Sullivan/ Getty Images Bank of America clears and settles crypto exchange traded products for selected clients, according to a report by Coindesk. Last week, the company said in an internal memo it plans to add a crypto research team. A Coindesk report on Tuesday said the bank was offering ETPs to some of its hedge fund clients. Sign up here for our daily newsletter, 10 Things Before the Opening Bell. Bank of America is now offering crypto exchange-traded products fo...
Tags: US, Trends, Bank Of America, Ubs, Coindesk, CoinDesk CoinDesk, JPMorgan Goldman Sachs, Opening Bell Bank of America, Camomile Shumba, Coindesk Last


Jamie Dimon's $50 million surprise

Brendan McDermid/REUTERS Good morning and welcome to Insider Finance. I'm Dan DeFrancesco, and here's what's on the agenda today:Jamie Dimon just got a glitzy new offer to keep him around another five years.UBS is raising salaries for investment banking analysts, associates, and directors and we have all the details. Ryan Tolkin's professors, colleagues, and friends give us some insight into the 34-year-old's rise at Schonfeld Strategic Advisors.We rounded up the top fi...
Tags: Trends, Ubs, Jamie Dimon, Black, Arielle Zuckerberg, Wells Fargo, NFT, Brendan Mcdermid, Reuters UBS, Dimon, Samantha Lee, Deel, KENA BETANCUR, Tolkin, Orum, Schonfeld


Investors are rushing to hedge oil bets after Delta variant jitters gave crude its biggest drop this year

Shutterstock Investors are trying to hedge their oil bets after Monday's beating, according to a Wall Street Journal report. Some particularly prescient traders had already hedged their position before Monday's oil turmoil. Analysts still expect oil to climb, arguing fundamental supply and demand dynamics are unchanged. Sign up here for our daily newsletter, 10 Things Before the Opening Bell. Oil took a beating during Monday's sell-off, leading investors to hedge their bets d...
Tags: Oil, Trends, Markets, Bank Of America, Delta, Ubs, Goldman Sachs, Goldman, Wall Street Journal, Futures, Options, Hedging, Mizuho Securities, Bob Yawger, Yawger, Opening Bell Oil


Bank of America is joining the growing number of banks that will allow clients to use various crypto exchange-traded products, report says

Bank of America Justin Sullivan/ Getty Images Bank of America will allow its clients access to a number of crypto exchange-traded products, according to a Coindesk report Tuesday. Last week, the company said it would allow some clients to trade bitcoin futures and plans to add a crypto research team. The company has joined JP Morgan, Goldman Sachs and UBS in creating crypto products and services in response to client demand. Sign up here for our daily newsletter, 10 Things Before the Openi...
Tags: US, Trends, Bank Of America, Ubs, Coindesk, JP Morgan Goldman Sachs, JPMorgan Goldman Sachs, Opening Bell Bank of America, Camomile Shumba


10 things before the opening bell

Johannes Eisele/Getty Images Welcome to 10 Things Before the Opening Bell. If this was forwarded to you, sign up here. Plus, sign up here for Insider Investing, our weekly markets analysis newsletter.Let's get into it.1. Global shares are recovering from the sell-off earlier in the week. Investors remain optimistic about the economic recovery despite seeing the largest daily dip of 2021 on Monday. 2. Look for an 8% rally in the S&P 500 by year-end, says JPMorgan. Despite falling bond...
Tags: Amc, Newsletter, Trends, Markets, Reddit, Ubs, Goldman Sachs, Bill Ackman, Will Smith, Nasdaq, Texas Instruments, Gamestop, Kevin Durant, Johannes Eisele Getty, Opening Bell, Phil Rosen


UBS CEO says crypto is an untested asset class and he isn't worried about missing out on clients

Ralph Hamers, CEO of UBS, gestures during in Zurich, Switzerland, Thursday, Feb. 20, 2020. Walter Bieri/Keystone via AP Ralph Hamers, CEO of UBS Group, said he advises his clients to be cautious when it comes to crypto. "We feel that crypto itself is still an untested asset category," he told Bloomberg. Hamers also said he does not worry about losing out on billionaire clients by not offering crypto. Sign up here for our daily newsletter, 10 Things Before the Opening Bell. Ralph Hamers, ...
Tags: US, Trends, Bloomberg, Ubs, Goldman Sachs, Morgan Stanley, Zurich Switzerland, Sergio Ermotti, UBS Group, UBS Wealth Management, Ralph Hamers, Meanwhile Bank of America, Isabelle Lee, Kiran Ganesh, Walter Bieri Keystone, AP Ralph Hamers


SEC hits UBS with $8 million fine after a complex VIX-linked product burned investors

Carl Court/Getty Images UBS has reached an $8 million settlement with the SEC for failing to protect investors in an exchange traded product. The VXX ETP disclosed in its prospectus that, historically speaking, it doesn't generate returns in the long run, instead profiting from short bouts of volatility. A lack of restrictions led some UBS financial advisors to buy VXX for clients for extended periods, sometimes over a year. Sign up here for our daily newsletter, 10 Things Before the ...
Tags: Trends, Markets, Switzerland, Ubs, SEC, ETF, Vix, Daniel Michael, MI Exclusive, ETPs, Ethan Wu, Investor Protection, Carl Court Getty Images UBS, SEC s Complex Financial Instruments Unit, SEC UBS


71% of institutional investors say they will buy or invest in digital assets in the future - and over half already do, survey finds

Photo illustration of visual representations of digital cryptocurrencies Yuriko Nakao/Getty Images 71% of institutional investors say they will buy, or invest in, digital assets, a survey by Fidelity Digital Assets showed. Over half have already do so, with Asian markets leading the adoption, the survey showed. An increasing number of institutions have been expanding their digital asset and cryptocurrency offerings. Sign up here for our daily newsletter, 10 Things Before the Opening Bell...
Tags: Asia, Europe, US, Trends, Bank Of America, Bloomberg, Ubs, Morgan Stanley, Asia Europe, Opening Bell, Tom Jessop, Fidelity Digital Assets, Fidelity Digital, Yuriko Nakao Getty, Sophie Kiderlin, Fidelity Digital Assets Investors


JP Morgan Names UBS's Boettcher as Vice Chair of EMEA Investment Banking

ZURICH (Reuters) - JP Morgan has hired UBS executive Reinout Boettcher as vice chair of EMEA investment banking in Zurich, reporting jointly...
Tags: Ubs, Zurich, EMEA, Reuters JP Morgan, Boettcher, JP Morgan Names UBS, EMEA Investment Banking, Reinout Boettcher


UBS CEO says working remotely is good for bank's clients as well as staff work-life balance

Ralph Hamers, new CEO of Swiss Bank UBS, gestures during a press conference in Zurich, Switzerland, Thursday, Feb. 20, 2020. Associated Press UBS CEO Ralph Hamers told Bloomberg that hybrid working is good for clients and employees. He confirmed two-thirds of UBS staff would work hybrid in the future, though traders may be excepted. The bank is also 'reviewing' its office footprint, Hamers said. See more stories on Insider's business page. UBS Group CEO Ralph Hamers has said t...
Tags: Asia, America, Trends, Bloomberg, Hsbc, Ubs, Jp Morgan, Goldman Sachs, National Bureau of Economic Research, Jamie Dimon, Zurich, Stanford University, Zurich Switzerland, Bloom, Stephen Jones, UBS Group


UBS CEO Sees Clients 'More Optimistic Than Ever'

ZURICH (Reuters) - UBS expects positive business momentum to continue on the back of client optimism, Chief Executive Ralph Hamers said on Tuesday,...
Tags: Ubs, Zurich, Reuters UBS, Ralph Hamers


UBS smashes Q2 profit forecasts thanks to its surging wealth-management business - but expects a drop in client activity in Q3

Ralph Hamers, CEO of Swiss Bank UBS. Associated Press Swiss bank UBS beat second-quarter analyst expectations on Tuesday. The bank's net profit came in at $2 billion, higher than the $1.34 billion analysts expected. Its wealth management division generated a 47% increase in quarterly profit to $1.29 billion. Sign up here for our daily newsletter, 10 Things Before the Opening Bell. Top Swiss bank UBS beat second-quarter profit expectations on Tuesday as it benefited from a boom in its w...
Tags: Finance, Banks, Trends, Markets, Bloomberg, Ubs, Swiss Bank, Ralph Hamers, Shalini Nagarajan, UBS Results, MI Exclusive, Archegos, Q2 earnings, Q2 earnings season, Things Before the Opening Bell Top Swiss bank UBS


UBS Profit Jumps 63% in Second Quarter as Wealth Management Boom Continues

By Brenna Hughes NeghaiwiZURICH (Reuters) - Swiss bank UBS on Tuesday posted a 63% rise in second-quarter net profit, as buoyant markets continued...
Tags: Ubs, Reuters, Brenna Hughes, UBS Profit Jumps


Stock market sell-off batters energy stocks as Delta variant and falling oil prices worry investors

Shannon Stapleton/Reuters Energy stocks tumbled as the broader market sold off on Monday, with the S&P 500 Energy Index falling 4.5%. Fears surrounding the Delta variant were top of traders' minds, as the virus could threaten further lockdowns. Some observers still see oil rising over the long term as supply struggles to meet demand. Sign up here for our daily newsletter, 10 Things Before the Opening Bell. Energy stocks tumbled as the broader market sold off on Monday, with the S&P 50...
Tags: Energy, UK, Texas, Oil, Trends, Markets, ExxonMobil, Bank Of America, Opec, Delta, Ubs, Stocks, Oil Price, Goldman Sachs, Morgan Stanley, Goldman


U.S. Settles With UBS Over Sales of Exchange-Traded Product

WASHINGTON (Reuters) - The top securities regulator in the United States said on Monday it had filed a settled action with UBS Financial Services...
Tags: Washington, United States, Ubs, Reuters


UBS Brokerage Pays $8 Million to Settle U.S. SEC Charges, SEC Says

By Chris Prentice and Lisa LambertWASHINGTON (Reuters) -The brokerage arm of UBS Group AG agreed to pay $8 million to settle charges made by the...
Tags: Ubs, UBS Group AG, Chris Prentice, SEC Charges SEC, Lisa LambertWASHINGTON Reuters


A banker quit to become a chef and saw his bank balance drop to $230. Despite burnout and a pandemic, he would never go back.

It took Philip Juma seven years to open his first restaurant. Juma Kitchen Philip Juma left a career in wealth management to follow his passion to showcase Iraqi food. He had no formal training but spent 7 years running pop-up kitchens and working in restaurants. Juma told us about his tough journey and why, despite the pandemic, a 9-5 holds no appeal. See more stories on Insider's business page. Food has always been part of Philip Juma's life.Growing up in London to an Iraqi fathe...
Tags: Chef, UK, London, Finance, Careers, Success, Trends, Strategy, Bbc, Ubs, Career Change, Pivot, Don, Juma, My dad, Stephen Jones


Space tourism means closing gifts could soon be out of this world

Richard Branson's successful trip to outer space means that space tourism is becoming a reality for the public. How long before it becomes a common perk offered to luxury buyers?
Tags: Amazon, Lifestyle, Radio, Luxury, Virgin Galactic, Ubs, Richard Branson, Agent, Jeff Bezos, Jason Baker, Select, Serhant, Warburg Realty, Luxury Lens, Gerald C. Splendore, Nile Lundgren


The number of Brits on payrolls surged by 356,000 in June as the economy reopened and hospitality boomed

The UK economy is gradually reopening from coronavirus lockdowns. Andrew Milligan - PA Images / Getty The number of Brits on payrolls surged by 356,000 in June as the economy bounced back from COVID-19. Britain's economy is gradually reopening, causing the hospitality sector to increase hiring rapidly. However, the unemployment rate ticked up to 4.8% in the three months to May, data showed. Sign up here for our daily newsletter, 10 Things Before the Opening Bell. The number of Brits fi...
Tags: UK, England, Wales, Trends, Britain, Ubs, Office For National Statistics, Ons, Andrew Milligan, Northern Ireland Scotland, Harry Robertson, Darren Morgan, COVID


10 things before the opening bell

A trader blows bubble gum during the opening bell at the New York Stock Exchange (NYSE) on August 1, 2019, in New York City. Johannes Eisele/AFP via Getty Images Good morning and welcome to 10 Things Before the Opening Bell. If this was forwarded to you, sign up here. Plus, sign up here for Insider Investing, our weekly markets analysis newsletter.Let's get started.1. Tech stocks are dominating the S&P 500 at a level not seen since the dot-com bubble - and that could bode poorly for ...
Tags: Europe, New York City, Trends, Tech, Bank Of America, Delta, Ubs, Crypto, Goldman Sachs, Dow Jones, New York Stock Exchange NYSE, Johannes Eisele, Phil Rosen, Morgan Stanley Here, Getty Images Good, Bank of America Citigroup Wells Fargo BlackRock